BELVEDERE TENNIS CLUB

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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

1957

Legal Domicile

Principal Officer

SEAN PAKENHAM

Phone

4154354792

Tax Period

2023-01-01 to 2023-12-31

BELVEDERE TENNIS CLUB, founded in 1957, is a community nonprofit that reported $2.6M in total revenue in fiscal year 2023. Revenue surged 45% from the prior year, signaling strong growth momentum.

Mission

THE MISSION OF THE BELVEDERE TENNIS CLUB IS TO FOSTER THE GAME OF TENNIS FOR ALL LEVELS AND CREATE AN INTIMATE, SOCIAL ATMOSPHERE FOR ALL MEMBERS AND THEIR FAMILIES. THE BELVEDERE TENNIS CLUB PROVIDES TENNIS, SWIM, FITNESS, AND SOCIAL FACILITIES, AS WELL AS A WIDE VARIETY OF PROGRAMS FOR ALL AGES. IT ORGANIZES AND RUNS TENNIS TOURNAMENTS, CLINICS, AND PRIVATE INSTRUCTION FOR TENNIS AND SWIM ACTIVITIES.

Program Service Accomplishments

Program 1

BELVEDERE TENNIS CLUB'S LARGEST PROGRAM SERVICE IS THE TENNIS PROGRAM FOR CLUB MEMBERS. THE CLUB ORGANIZES CLINICS AND PRIVATE INSTRUCTION FOR TENNIS.

Program 2

BELVEDERE'S SECOND LARGEST PROGAM SERVICE ARE THE TENNIS TOURNAMENTS. THE CLUB ORGANIZES TENNIS TOURNAMENTS FOR CLUB MEMBERS.

Program 3

BELVEDERE'S THIRD LARGEST PROGAM SERVICE IS THE SWIM PROGRAM. THE CLUB OFFERS CLINICS AND PRIVATE INSTRUCTION FOR SWIMMING TO CLUB MEMBERS.

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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 $2,690,139

Investment Income $0

Other Revenue $-75,144

TOTAL REVENUE $2,614,995

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,595,264

Fundraising Expenses $0

Other Expenses $943,885

TOTAL EXPENSES $2,539,149

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,614,995	$1,804,178	+0.4%
Expenses	$2,539,149	$2,384,816	+0.1%
Net Income	$75,846	$-580,638	-1.1%

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

220

Independent Members

220

Employees

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DON SUNG	PRESIDENT	3.00	Officer Director	$0	$0	$0
LIZI CRUZ	VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
JAMES REDFERN	FINANCE COMMITTE/CFO	3.00	Officer Director	$0	$0	$0
BRIAN ENDRES	SECRETARY	3.00	Officer Director	$0	$0	$0
ED TUCKER	BOARD MEMBER/POOL & FITNES	3.00	Director	$0	$0	$0
JENNIFER HILLYER	BOARD MEMBER/SOCIAL/F&B	3.00	Director	$0	$0	$0
DAVE WHITE	BOARD MEMBER/HOUSE & GROUN	3.00	Director	$0	$0	$0
KEITH LISTER	BOARD MEMBER/MEMBERSHIP	3.00	Director	$0	$0	$0
REBECCA AHERN	BOARD MEMBER/TENNIS	3.00	Director	$0	$0	$0
JEREMY T GREGORY	GENERAL MANAGER	40.00	Highest	$204,098	$0	$204,098
MIRKO JOVANOVIC	HEAD PRO	40.00	Highest	$149,072	$4,307	$153,379
ALAN CARLES	EXECUTIVE CHEF	40.00	Highest	$119,591	$5,128	$124,719
ANOOSH DAVOUDZADEH	DIRECTOR OF TENNIS	40.00	Highest	$181,902	$3,015	$184,917

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	$2,614,995	$2,539,149	$3,364,338	$75,846
2022	$1,804,178	$2,384,816	$3,649,675	$-580,638
2021	$2,534,693	$1,793,285	$4,399,407	$741,408
2020	$1,823,524	$1,704,693	$4,022,904	$118,831
2019	$2,007,117	$1,916,648	$3,934,316	$90,469
2018	$1,920,218	$1,920,365	$4,022,523	$-147