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Golf Minot INC FY2020 filing

Not tax-deductible

Minot, ND501(c)(7)Recreation & Sports EIN 45-5233210Revenue $1.2M in FY2020

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.

501(c)(7) social or recreational club; gifts are not tax-deductible as charitable contributions.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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FY2020 · Form 990Independent: from IRS data, not the org
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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
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$9.5M
111% of total assets
Concern: liabilities are 111% of assets; over 80%.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
Spent
$1.5M
Net assets
−$962K
By yearFY2020–FY2023
Revenue
$1.2M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.2M
FY2021$1.5M
FY2022$1.3M
FY2023$1.5M
Expenses
$1.5M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.5M
FY2021$1.6M
FY2022$1.7M
FY2023$1.8M
Net assets
−$962K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$962K
FY2021−$1.1M
FY2022−$1.5M
FY2023−$1.7M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2023) →

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

10 people listed on the 990.

Part VII, Section A · reportable compensation
Derek Blasing
President
$0Pt VII · Sec A
Dave Shomento
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Randy Froseth
Treasurer
$0Pt VII · Sec A
Robyn Hardie
Secretary
$0Pt VII · Sec A
Daniel Lee
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Dallas Varty
Director
$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.

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1 program · in their own filed words · FY2020
01

Operation of country club and golf course

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.2M
Ln 12
Fees for servicesLn 2g$1.1M
Other incomeLn 4–11$157K
Money outPt IX
$1.5M
Ln 25
Owns and owesPt X
−$962K
net assets · Ln 32
Cash and savingsLn 1–2$102K
Total assetsLn 16$8.5M
LiabilitiesLn 26$9.5M
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.1M
Other incomeLn 4–11$157K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$34K
SavingsLn 2$68K
Cash and savings togetherLn 1–2$102K
Land, buildings, equipmentLn 10c$8.2M
Other assetsLn 15$108K
Total assetsLn 16$8.5M
LiabilitiesLn 26$9.5M
Net assetsLn 32−$962K
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 FY20End FY20
Cash and savingsLn 1–2$57K$102K
Land, buildings, equipmentLn 10c$8.4M$8.2M
Total assetsLn 16$8.7M$8.5M
LiabilitiesLn 26$9.5M$9.5M
Net assetsLn 32−$743K−$962K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$307K
Pension plan contributionsLn 8$5K
Payroll taxesLn 10$28K
Management feesLn 11a$24K
Accounting feesLn 11c$871
Advertising and promotionLn 12$627
Office expensesLn 13$6K
OccupancyLn 16$75K
InterestLn 20$337K
Depreciation, depletion and amortizationLn 22$201K
InsuranceLn 23$33K
Other expenses (24a–d)Ln 24$335K
All other expensesLn 24e$106K
Total functional expensesLn 25$1.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest $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 Viewing $1.2M$1.5M−$220K−$962K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $1,238,616 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,185,574$1,081,396
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $142,955$157,220
I-12 Total revenuePrior year $1,328,529$1,238,616
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 $336,649$340,527
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,273,891$1,117,699
I-18 Total expensesPrior year $1,610,540$1,458,226
I-19 Revenue less expensesPrior year −$282,011−$219,610
Part VI · Governance 10 of 10 board members independent, 4 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
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 $1,238,616 across 4 lines filed
Lines not itemized here account for $56,591 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,081,396$1,081,396
VIII-6 Net rental income or lossRelated to mission $82,050$82,050
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $18,579$18,579
VIII-12 Total revenueRelated to mission $1,238,616 · Unrelated business $0 · Excluded from tax $0$1,238,616
Part IX · Statement of functional expenses $1,458,226 across 13 lines filed
IX-7 Other salaries and wages$307,322
IX-8 Pension plan contributions$4,882
IX-10 Payroll taxes$28,323
IX-11a Management fees$24,000
IX-11c Accounting fees$871
IX-12 Advertising and promotion$627
IX-13 Office expenses$5,973
IX-16 Occupancy$75,134
IX-20 Interest$336,938
IX-22 Depreciation, depletion and amortization$200,784
IX-23 Insurance$32,815
IX-24 Other expenses (24a–d)$334,968
IX-24e All other expenses$105,589
IX-25 Total functional expenses$1,458,226
Part X · Balance sheet $8,500,000 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $1,858$34,396
X-2 Savings and temporary cash investmentsStart of year $54,857$68,066
X-4 Accounts receivableStart of year $117,628$50,159
X-8 Inventories for sale or useStart of year $35,629$45,178
X-9 Prepaid expenses and deferred chargesStart of year $28,007$24,477
X-10c Land, buildings and equipment, netStart of year $8,363,500$8,170,224
X-15 Other assetsStart of year $107,500$107,500
X-16 Total assetsStart of year $8,708,979$8,500,000
X-17 Accounts payable and accrued expensesStart of year $463,929$500,382
X-25 Other liabilitiesStart of year $156,258$53,158
X-26 Total liabilitiesStart of year $9,451,580$9,462,211
X-27 Net assets without donor restrictionsStart of year −$742,601−$962,211
X-32 Total net assets or fund balancesStart of year −$742,601−$962,211
X-33 Total liabilities and net assetsStart of year $8,708,979$8,500,000
Part XI · Reconciliation of net assets −$962,211 net assets at year end
XI-1 Total revenue$1,238,616
XI-2 Total expenses$1,458,226
XI-3 Revenue less expenses−$219,610
XI-4 Net assets at start of year−$742,601
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$962,211

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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