Sobel Cup Nfp FY2020 filing

Not tax-deductible

Bannockburn, IL501(c)(7)Recreation & SportsEIN 47-3116958

On file with the IRS1955 Telegraph Rd, 60015-1825 · Bannockburn, ILTax-exempt since Apr 2015

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To Organize and facilitate interaction and participation of business professionals at golf courses around the world.

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
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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $10K a year · 3% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
243 mo
of spending, in cash
Looks good: 243.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$366K
86% of total assets
Concern: liabilities are 86% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$0
Spent
$18K
Net assets
$58K
By yearFY2020–FY2024
Revenue
$0
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$0
FY2021$530K
FY2022$270K
FY2023$597K
FY2024$439K
Expenses
$18K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$18K
FY2021$517K
FY2022$314K
FY2023$530K
FY2024$409K
Net assets
$58K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$58K
FY2021$71K
FY2022$28K
FY2023$95K
FY2024$126K

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2015.

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

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
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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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Connects business professionals worldwide through golf events.

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Provided by the organization

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1 program · in their own filed words · FY2020
01

To support business professionals who share the common interest of participating in social golf outings around the globe.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$0
Ln 12
Money outPt IX
$18K
Ln 25
Owns and owesPt X
$58K
net assets · Ln 32
Cash and savingsLn 1–2$375K
Total assetsLn 16$424K
LiabilitiesLn 26$366K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gains on assetsLn 7$0
Total revenueLn 12$0
Assets in detailPt X, end of year
CashLn 1$375K
SavingsLn 2$0
Cash and savings togetherLn 1–2$375K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$49K
Total assetsLn 16$424K
LiabilitiesLn 26$366K
Net assetsLn 32$58K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$237K$375K
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$237K$424K
LiabilitiesLn 26$160K$366K
Net assetsLn 32$76K$58K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$3K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$5K
All other expensesLn 24e$10K
Total functional expensesLn 25$18K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $439K$409K$31K$126K 990 PDF
FY2023 $597K$530K$67K$95K 990 PDF
FY2022 $270K$314K−$43K$28K 990 PDF
FY2021 $530K$517K$13K$71K 990 PDF
FY2020 Viewing $0$18K−$18K$58K 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 $0 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $698,847$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $698,847$0
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $722,437$18,476
I-18 Total expensesPrior year $722,437$18,476
I-19 Revenue less expensesPrior year −$23,590−$18,476
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $0 across 8 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $0$0
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $0$0
Part IX · Statement of functional expenses $18,476 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$3,250
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-24 Other expenses (24a–d)$5,051
IX-24e All other expenses$10,175
IX-25 Total functional expenses$18,476
Part X · Balance sheet $423,728 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $236,745$374,638
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$49,090
X-16 Total assetsStart of year $236,745$423,728
X-17 Accounts payable and accrued expensesStart of year $13,750$13,750
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $146,507$351,966
X-26 Total liabilitiesStart of year $160,257$365,716
X-32 Total net assets or fund balancesStart of year $76,488$58,012
X-33 Total liabilities and net assetsStart of year $236,745$423,728
Part XI · Reconciliation of net assets $58,012 net assets at year end
XI-1 Total revenue$0
XI-2 Total expenses$18,476
XI-3 Revenue less expenses−$18,476
XI-4 Net assets at start of year$76,488
XI-10 Net assets at end of year$58,012

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

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