THE FOREST COUNTRY CLUB INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1988

Legal Domicile

Principal Officer

KYLE RUCH

Phone

2394828378

Tax Period

2023-01-01 to 2023-12-31

THE FOREST COUNTRY CLUB INC, founded in 1988, is a community nonprofit that reported $9.6M in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $11.0M exceeded revenue, resulting in a 14% operating deficit.

Mission

THE FOREST COUNTRY CLUB, INC. IS A SOCIAL CLUB WHOSE EXEMPT PURPOSE IS TO PROMOTE SOCIAL INTERACTION OF CLUB MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES.

Program Service Accomplishments

Program 1

THE CLUB HAS TWO 18 HOLE GOLF COURSES. TOTAL ROUNDS OF GOLF PLAYED FOR THE YEAR ENDED 12/31/23 WERE APPROXIMATELY 48,526 OF WHICH APPROXIMATELY 5,819 ROUNDS WERE NON-MEMBER RELATED.

Program 2

TOTAL FOOD AND BEVERAGE REVENUE FOR THE YEAR ENDED 12/31/23 WAS $2,580,495 OF WHICH $427,875 WAS NON-MEMBER RELATED.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $7,329,751

Investment Income $-99,990

Other Revenue $2,396,282

TOTAL REVENUE $9,626,043

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,290,282

Fundraising Expenses $0

Other Expenses $5,693,948

TOTAL EXPENSES $10,984,230

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,626,043	$7,923,575	+0.2%
Expenses	$10,984,230	$11,413,287	0.0%
Net Income	$-1,358,187	$-3,489,712	-0.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

190

Volunteers

100

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$506,609

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DALE CARLSON	PRESIDENT (THROUGH 3/23)/DIRECTOR (AS OF 3/23)	1.00	Officer Director	$0	$0	$0
PAUL REAGAN	SECRETARY (THROUGH 3/23)	1.00	Officer Director	$0	$0	$0
CHRIS RAKOS	TREASURER (THROUGH 3/23)/ VP (AS OF 3/23)	1.00	Officer Director	$0	$0	$0
KEITH STEPHENSON	VP (THROUGH 3/23)/PRESIDENT (AS OF 3/23)	1.00	Officer Director	$0	$0	$0
PETE CONNOR	DIRECTOR (AS OF 3/23)/ TREASURER (AS OF 3/23)	1.00	Officer Director	$0	$0	$0
MELONIE COLAIANNE	DIRECTOR (THROUGH 3/23)/ SECRETARY (AS OF 3/23)	1.00	Officer Director	$0	$0	$0
JEFF LUMSDEN	DIRECTOR (AS OF 3/23)	1.00	Director	$0	$0	$0
RICH JOHNSON	DIRECTOR (AS OF 3/23)	1.00	Director	$0	$0	$0
BOB FRISCH	DIRECTOR (AS OF 3/23)	1.00	Director	$0	$0	$0
JULIE BEN-SUSAN	DIRECTOR (THROUGH 3/23)	1.00	Director	$0	$0	$0
JIM CONRAD	DIRECTOR	1.00	Director	$0	$0	$0
BOB VERDONCK	DIRECTOR (THROUGH 3/23)	1.00	Director	$0	$0	$0
FRANK AGNELLO JR	CFO	40.00	Officer	$181,001	$26,890	$207,891
MATT GAUDET	GENERAL MANAGER	40.00	Officer	$261,875	$36,843	$298,718
WILLIAM BERG	CLUBHOUSE MANAGER	40.00	Highest	$112,112	$22,627	$134,739
SCOTT NEWHOUSE	DIRECTOR OF GOLF	40.00	Highest	$133,672	$38,053	$171,725
JESSE METCALF	DIRECTOR OF GOLF COURSE MAINTENANCE(THROUGH 11/23)	40.00	Highest	$168,021	$12,238	$180,259
DREW TAIT	EXECUTIVE CHEF	40.00	Highest	$121,768	$38,602	$160,370

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$9,626,043	$10,984,230	$30,278,054	$-1,358,187
2022	$7,923,575	$11,413,287	$27,476,540	$-3,489,712
2021	$7,217,967	$8,606,146	$25,579,455	$-1,388,179
2020	$6,893,876	$8,078,377	$24,511,283	$-1,184,501
2019	$6,366,107	$7,788,460	$23,149,515	$-1,422,353
2018	$6,834,501	$6,901,167	$21,334,354	$-66,666