Loblolly INC

Not tax-deductible

Hobe Sound, FL501(c)(7)Since 1987Recreation & SportsEIN 65-0004016

Loblolly INC. Is a recreational club whose exempt purpose is to promote social interaction of club members by providing dining and recreational activities

Run by 73 volunteers and 182 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2024 · 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
0 of 5
filings with a surplus
Average deficit $1.6M a year · 18% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$1.6M
to officers and key staff · 9% of spending
Top officer’s pay higher than 79% of similar orgs
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$25.9M
38% of total assets
Looks good: liabilities are 38% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$15.4M
+29% vs prior year
Spent
$18.8M
Net assets
$43.1M
By yearFY2020–FY2024
Revenue
$15.4M
FY2024▲ +29%
Revenue by fiscal year
FY2020$7.8M
FY2021$7.4M
FY2022$8.6M
FY2023$10.0M
FY2024$12.0M
FY2024$15.4M
Expenses
$18.8M
FY2024▲ +35%
Expenses by fiscal year
FY2020$8.8M
FY2021$8.9M
FY2022$10.5M
FY2023$11.7M
FY2024$14.0M
FY2024$18.8M
Net assets
$43.1M
FY2024▲ +7%
Net assets by fiscal year
FY2020$23.1M
FY2021$23.0M
FY2022$23.9M
FY2023$32.3M
FY2024$40.3M
FY2024$43.1M

From the FY2024 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: FY2024. IRS ruling in Mar 1999.

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

Who runs it and what they're paid

17 people listed on the 990; $1.6M paid to officers and key staff.

Part VII, Section A · reportable compensation
General Mana
$476,838Pt VII · Sec A
Golf Superin
$445,804Pt VII · Sec A
Executive Ch
$274,642Pt VII · Sec A
$245,550Pt VII · Sec A
Director of
$155,731Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Michael Reilly’s $477K as General Mana is at the 79th percentile of top reported officer pay among 290 $10–100M recreation & sports nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Michael Reilly$476,838$373,598$327,279———
Brent Hanlon————$461,228$366,440
Cody Boutte$445,804$318,386$239,175$239,175$233,522$228,350
Mike Reilly———$327,279——
Zouhair Bellout$274,642—————
Patrick O'Neill$245,550————$141,985
Carol Garone—$195,108$162,637$162,637——
Levent Yurdatap—$188,070$172,969$172,970$168,496$131,828

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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

Provides dining and recreational activities to promote social interaction among members.

Provided by the organization

This section is blank until Loblolly INC claims this page.

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3 program services, described in the organization's own filed words · FY2024.
01

The club operates and maintains tennis court and fitness facilities. Total revenues for the year for these activities was 762,172 of which 0 were nonmember related.

Pt IX · col B
02

The club operates and maintains a clubhouse for members. Food and beverage sales for the year totaled 2,676,108 of which 0 were nonmember related.

Pt IX · col B
03

The club has an 18-HOLE golf course. Total rounds of golf played during the year by members and their guests was approximately 18,790.

Pt IX · col B

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By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$15.4M
Ln 12
Fees for servicesLn 2g$14.5M
Other incomeLn 4–11$672K
Investment incomeLn 3$217K
Money outPt IX
$18.8M
Ln 25
Owns and owesPt X
$43.1M
net assets · Ln 32
Cash and savingsLn 1–2$1.7M
Total assetsLn 16$69.0M
LiabilitiesLn 26$25.9M
PeoplePt VI, VII
17
listed · VII A
PaidVII A5
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$14.5M
Investment incomeLn 3$217K
Other incomeLn 4–11$672K
Gains on assetsLn 7−$160K
Total revenueLn 12$15.4M
Assets in detailPt X, end of year
CashLn 1$694K
SavingsLn 2$968K
Cash and savings togetherLn 1–2$1.7M
InvestmentsLn 11–13$5.6M
Land, buildings, equipmentLn 10c$28.1M
Other assetsLn 15$30.3M
Total assetsLn 16$69.0M
LiabilitiesLn 26$25.9M
Net assetsLn 32$43.1M
OperationsPt I, VI
EmployeesI 5182
VolunteersI 673
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$2.1M$1.7M
InvestmentsLn 11–13$4.1M$5.6M
Land, buildings, equipmentLn 10c$30.3M$28.1M
Total assetsLn 16$61.7M$69.0M
LiabilitiesLn 26$21.4M$25.9M
Net assetsLn 32$40.3M$43.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$9.1M
InterestLn 20$798K
Depreciation, depletion and amortizationLn 22$3.2M
InsuranceLn 23$674K
Other expenses (24a–d)Ln 24$3.3M
All other expensesLn 24e$1.8M
Total functional expensesLn 25$18.8M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $12.0M$14.0M−$2.0M$40.3M 990 PDF
FY2023 $10.0M$11.7M−$1.7M$32.3M 990 PDF
FY2022 $8.6M$10.5M−$1.9M$23.9M 990 PDF
FY2021 $7.4M$8.9M−$1.5M$23.0M 990 PDF
FY2020 $7.8M$8.8M−$1.0M$23.1M 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $15,419,504 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $14,529,693$14,529,693
VIII-3 Investment incomeRelated to mission $377,316$377,316
VIII-7 Net gain or loss on sales of assetsRelated to mission −$159,829−$159,829
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $672,324$672,324
VIII-12 Total revenueRelated to mission $15,419,504$15,419,504
Part IX · Statement of functional expenses $18,800,402 across 6 lines filed
IX-7 Other salaries and wages$9,071,575
IX-20 Interest$797,734
IX-22 Depreciation, depletion and amortization$3,161,791
IX-23 Insurance$673,630
IX-24 Other expenses (24a–d)$3,282,275
IX-24e All other expenses$1,813,397
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$18,800,402
Part X · Balance sheet $68,973,076 assets, 16 lines filed
Asset lines not itemized here account for $1,500,000; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,618,850$694,482
X-2 Savings and temporary cash investmentsStart of year $475,976$968,468
X-4 Accounts receivableStart of year $978,962$1,355,216
X-8 Inventories for sale or useStart of year $104,183$90,107
X-9 Prepaid expenses and deferred chargesStart of year $289,887$299,493
X-10c Land, buildings and equipment, netStart of year $30,267,179$28,086,219
X-13 Program-related investmentsStart of year $4,086,004$5,638,554
X-15 Other assetsStart of year $22,383,339$30,340,537
X-16 Total assetsStart of year $61,704,380$68,973,076
X-17 Accounts payable and accrued expensesStart of year $1,310,004$923,834
X-24 Unsecured notes and loans payable$1,730,688
X-25 Other liabilitiesStart of year $20,083,575$23,241,318
X-26 Total liabilitiesStart of year $21,393,579$25,895,840
X-27 Net assets without donor restrictionsStart of year $40,310,801$43,077,236
X-32 Total net assets or fund balancesStart of year $40,310,801$43,077,236
X-33 Total liabilities and net assetsStart of year $61,704,380$68,973,076
Part XI · Reconciliation of net assets $43,077,236 net assets at year end
XI-1 Total revenue$15,419,504
XI-2 Total expenses$18,800,402
XI-3 Revenue less expenses−$3,380,898
XI-4 Net assets at start of year$40,310,801
XI-9 Other changes in net assets$6,147,333
XI-10 Net assets at end of year$43,077,236

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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