USELESS BAY GOLF & 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

1967

Legal Domicile

Principal Officer

DANA BOLLINGER

Phone

3603215960

Tax Period

2024-01-01 to 2024-12-31

USELESS BAY GOLF & COUNTRY CLUB INC, founded in 1967, is a community nonprofit that reported $6.5M in total revenue in fiscal year 2024. The organization ran a surplus of $1.3M, a strong 19% operating margin.

Mission

WE OFFER OUR MEMBERS A VARIETY OF AMENITIES, INCLUDING AN 18-HOLE GOLF COURSE, SWIMMING POOL, TENNIS COURTS, PICKLEBALL AND BOCCE COURTS, AND A CLUBHOUSE. OUR FACILITIES PROVIDE A WELCOMING PLACE FOR MEMBERS TO GATHER, SOCIALIZE, EXERCISE, DINE, AND ENJOY ACTIVITIES TOGETHER.

Program Service Accomplishments

Program 1

THE CLUB MAINTAINS AN 18-HOLE GOLF COURSE OPEN YEAR-ROUND WITH A PUTTING GREEN AND RANGE. THE LAYOUT AND CONDITIONS ENSURE THAT THE COURSE NEVER FEELS THE SAME TWICE, PROVIDING A UNIQUE AND FRESH...

THE CLUB MAINTAINS AN 18-HOLE GOLF COURSE OPEN YEAR-ROUND WITH A PUTTING GREEN AND RANGE. THE LAYOUT AND CONDITIONS ENSURE THAT THE COURSE NEVER FEELS THE SAME TWICE, PROVIDING A UNIQUE AND FRESH CHALLENGE EACH TIME YOU PLAY. WE HAVE MEN'S AND WOMEN'S ASSOCIATIONS TO PROVIDE A PLACE FOR INDIVIDUALS TO COME TOGETHER TO SHARE IN FELLOWSHIP, AND A VARIETY OF GOLF GAMES.

Program 2

THE CLUB FEATURES A 52-SEAT RESTAURANT, AN ADJACENT 48-SEAT BAR, A BANQUET/EVENTS SPACE, AND DURING PEAK SUMMER MONTHS, A POOLSIDE SNACK SHACK AND COURTSIDE CAFE. EVENTS HOSTED IN THE BANQUET ROOM...

THE CLUB FEATURES A 52-SEAT RESTAURANT, AN ADJACENT 48-SEAT BAR, A BANQUET/EVENTS SPACE, AND DURING PEAK SUMMER MONTHS, A POOLSIDE SNACK SHACK AND COURTSIDE CAFE. EVENTS HOSTED IN THE BANQUET ROOM ARE PRIMARILY MEMBER-FOCUSED OR, WHEN SUPPORTING LOCAL COMMUNITY GROUPS SUCH AS FUNDRAISING AUCTION DINNERS, ARE ATTENDED PREDOMINANTLY BY MEMBERS AND THEIR FAMILIES. RECREATIONAL AMENITIES AT THE CLUB INCLUDE A FITNESS CENTER, TWO TENNIS COURTS, TWO BOCCE BALL COURTS, AND TWO PICKLEBALL COURTS. WHILE THE COURTS AND FITNESS CENTER REMAIN ACCESSIBLE YEAR-ROUND, THE SWIMMING POOL OPERATES EXCLUSIVELY DURING THE SUMMER SEASON, FROM MEMORIAL DAY TO LABOR DAY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $6,359,624

Investment Income $60,255

Other Revenue $80,223

TOTAL REVENUE $6,500,102

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,811,499

Fundraising Expenses $0

Other Expenses $2,434,853

TOTAL EXPENSES $5,246,352

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,500,102	$6,033,964	+0.1%
Expenses	$5,246,352	$5,333,153	0.0%
Net Income	$1,253,750	$700,811	+0.8%

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

104

Volunteers

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

$155,098

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANA BOLLINGER	PRESIDENT	2.30	Officer Director	$0	$0	$0
DEAN OLMSTEAD	PRESIDENT (THRU 08/24)	15.00	Officer Director	$0	$0	$0
NATHAN WARE	VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
EDWARD SHEETS	TREASURER	1.50	Officer Director	$0	$0	$0
AL FITZ	SECRETARY	1.20	Officer Director	$0	$0	$0
EILEEN BRENNAN	SECRETARY (THRU 08/24)	3.00	Officer Director	$0	$0	$0
LESLIE GRIMM	BOARD MEMBER	1.00	Director	$0	$0	$0
CINDY MERRITT	BOARD MEMBER	1.00	Director	$0	$0	$0
DEAN OLMSTEAD	BOARD MEMBER	3.00	Director	$0	$0	$0
BOB MCCLAIN	BOARD MEMBER	1.20	Director	$0	$0	$0
PLATO KARAFELIS	BOARD MEMBER	1.70	Director	$0	$0	$0
SUE ROCKWELL	BOARD MEMBER	1.20	Director	$0	$0	$0
STEVE DAVIS	BOARD MEMBER	1.20	Director	$0	$0	$0
TED HAWKSFORD	GENERAL MANAGER	40.00	Officer	$128,926	$26,172	$155,098

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	$6,500,102	$5,246,352	$7,904,847	$1,253,750
2023	$6,033,964	$5,333,153	$6,758,122	$700,811
2022	$3,748,304	$3,555,370	$6,576,205	$192,934
2021	$3,416,531	$2,436,311	$6,566,298	$980,220
2020	$2,617,281	$2,050,084	$4,392,607	$567,197
2019	$2,478,116	$2,054,800	$4,039,747	$423,316