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Golf Minot INC

Not tax-deductible

Minot, ND501(c)(7)Recreation & SportsEIN 45-5233210Revenue $1.5M in FY2023

On file with the IRSminotcountryclub.comPo Box 879, 58702-0879 · Minot, NDTax-exempt since Jul 2014

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The purpose of Golf Minot INC is to establish a Golf course to be used by its members for both pleasure and recreation and provide a clubhouse and facility to accommodate its members and support maintenance of the Golf course.

Mission: Form 990 Part I, line 1

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(7)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 4
filings with a surplus
Average deficit $241K a year · 17% of revenue · last 4 filings
Concern: a surplus in 0 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Cash reserves
2 mo
of spending, in cash
Fine: 1.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$10.7M
119% of total assets
Concern: liabilities are 119% of assets; over 80%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.5M
+15% vs prior year
Spent
$1.8M
Net assets
−$1.7M
By yearFY2020–FY2023
Revenue
$1.5M
FY2023▲ +15%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.2M
FY2021$1.5M
FY2022$1.3M
FY2023$1.5M
Expenses
$1.8M
FY2023▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.5M
FY2021$1.6M
FY2022$1.7M
FY2023$1.8M
Net assets
−$1.7M
FY2023▼ -16%
Tap a bar for its year
Net assets by fiscal year
FY2020−$962K
FY2021−$1.1M
FY2022−$1.5M
FY2023−$1.7M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Jul 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Tim Kuntz
President
$0Pt VII · Sec A
Britni Schmalz
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Taylor Zmoos
Director
$0Pt VII · Sec A
Steve Pinnow
Secretary
$0Pt VII · Sec A
Dave Shomento
Treasurer
$0Pt VII · Sec A
See Golf Minot INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Builds and maintains a golf course and clubhouse for members' enjoyment and recreation.

Questions for Golf Minot INC

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Provided by the organization

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1 program · in their own filed words · FY2023
01

Operation of country club and golf course.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.5M
Ln 12
Fees for servicesLn 2g$1.4M
Other incomeLn 4–11$74K
Money outPt IX
$1.8M
Ln 25
Owns and owesPt X
−$1.7M
net assets · Ln 32
Cash and savingsLn 1–2$224K
Total assetsLn 16$9.0M
LiabilitiesLn 26$10.7M
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.4M
Other incomeLn 4–11$74K
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
CashLn 1$224K
Cash and savings togetherLn 1–2$224K
Land, buildings, equipmentLn 10c$7.8M
Other assetsLn 15$108K
Total assetsLn 16$9.0M
LiabilitiesLn 26$10.7M
Net assetsLn 32−$1.7M
OperationsPt I, VI
EmployeesI 530
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$224K
Land, buildings, equipmentLn 10c$7.7M$7.8M
Total assetsLn 16$8.1M$9.0M
LiabilitiesLn 26$9.5M$10.7M
Net assetsLn 32−$1.5M−$1.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$414K
Pension plan contributionsLn 8$6K
Payroll taxesLn 10$35K
Management feesLn 11a$24K
Accounting feesLn 11c$2K
Advertising and promotionLn 12$9K
Office expensesLn 13$7K
OccupancyLn 16$67K
InterestLn 20$330K
Depreciation, depletion and amortizationLn 22$190K
InsuranceLn 23$38K
Other expenses (24a–d)Ln 24$398K
All other expensesLn 24e$234K
Total functional expensesLn 25$1.8M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $1.5M$1.8M−$236K−$1.7M 990 PDF
FY2022 $1.3M$1.7M−$411K−$1.5M 990 PDF
FY2021 $1.5M$1.6M−$99K−$1.1M 990 PDF
FY2020 $1.2M$1.5M−$220K−$962K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $1,519,533 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,174,044$1,445,993
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $143,345$73,540
I-12 Total revenuePrior year $1,317,389$1,519,533
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $457,470$455,642
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,271,278$1,299,723
I-18 Total expensesPrior year $1,728,748$1,755,365
I-19 Revenue less expensesPrior year −$411,359−$235,832
Part VI · Governance 9 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $1,519,533 across 3 lines filed
Lines not itemized here account for $64,843 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,445,993$1,445,993
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $8,697$8,697
VIII-12 Total revenueRelated to mission $1,519,533 · Unrelated business $0 · Excluded from tax $0$1,519,533
Part IX · Statement of functional expenses $1,755,365 across 13 lines filed
IX-7 Other salaries and wages$414,322
IX-8 Pension plan contributions$5,979
IX-10 Payroll taxes$35,341
IX-11a Management fees$24,000
IX-11c Accounting fees$1,525
IX-12 Advertising and promotion$8,831
IX-13 Office expenses$7,307
IX-16 Occupancy$67,141
IX-20 Interest$330,477
IX-22 Depreciation, depletion and amortization$189,864
IX-23 Insurance$38,195
IX-24 Other expenses (24a–d)$398,245
IX-24e All other expenses$234,138
IX-25 Total functional expenses$1,755,365
Part X · Balance sheet $8,974,414 assets, 14 lines filed
X-1 Cash, non-interest-bearing$223,872
X-4 Accounts receivableStart of year $79,721$696,304
X-8 Inventories for sale or useStart of year $93,690$146,358
X-9 Prepaid expenses and deferred chargesStart of year $34,876$25,966
X-10c Land, buildings and equipment, netStart of year $7,746,655$7,774,414
X-15 Other assetsStart of year $107,500$107,500
X-16 Total assetsStart of year $8,062,442$8,974,414
X-17 Accounts payable and accrued expensesStart of year $511,695$850,108
X-19 Deferred revenueStart of year $50,000$687,244
X-25 Other liabilitiesStart of year $19,294$0
X-26 Total liabilitiesStart of year $9,513,827$10,661,631
X-27 Net assets without donor restrictionsStart of year −$1,451,385−$1,687,217
X-32 Total net assets or fund balancesStart of year −$1,451,385−$1,687,217
X-33 Total liabilities and net assetsStart of year $8,062,442$8,974,414
Part XI · Reconciliation of net assets −$1,687,217 net assets at year end
XI-1 Total revenue$1,519,533
XI-2 Total expenses$1,755,365
XI-3 Revenue less expenses−$235,832
XI-4 Net assets at start of year−$1,451,385
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$1,687,217

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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