Overview
What is Gulf Stream Bath And Tennis Club Inc?
Gulf Stream Bath And Tennis Club Inc is a nonprofit organization situated in Delray Beach, Florida. The club's primary focus is to offer a private recreational and social environment for its members, featuring beach, tennis, fitness, restaurant, swimming, and related facilities. Throughout the year, they provide food and beverage services, with gross revenues reaching $1,838,050 during the 2021-2022 fiscal year. Despite generating $133,173 from non-member sources, the food and beverage service incurred expenses exceeding revenues, resulting in an operating loss. The club's operations are funded through membership dues, emphasizing the importance of these subscriptions to its functioning. With a workforce of 74 employees, the Gulf Stream Bath And Tennis Club Inc strives to cater to its members' leisure and recreational needs.
Is Gulf Stream Bath And Tennis Club Inc legitimate?
Gulf Stream Bath And Tennis Club Inc is a legitimate nonprofit organization registered as a 501(c)(7) entity. Gulf Stream Bath And Tennis Club Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,248,031
For more financial information, click here
What is the mission statement of Gulf Stream Bath And Tennis Club Inc?
The Gulf Stream Bath and Tennis Club Inc. is a privately operated recreational and social club, providing facilities for its members and their guests. Its tax-exempt purpose involves managing a range of amenities such as beaches, tennis courts, fitness centers, restaurants, and swimming areas. The club's mission, in simpler terms, is to offer these recreational and social opportunities to its members and guests for their enjoyment. The club operates food and beverage services for approximately 220 days annually, although the revenue from non-member sales was relatively lower compared to expenses during the 2021-2022 fiscal year, resulting in an operating loss. The club covers this loss through membership dues.
Who is the CEO of Gulf Stream Bath And Tennis Club Inc?
Michael Territo is the President of Gulf Stream Bath And Tennis Club Inc.
What is the revenue of Gulf Stream Bath And Tennis Club Inc?
Gulf Stream Bath And Tennis Club Inc's revenue in 2022 was $4,387,347.
Who are the executives of Gulf Stream Bath And Tennis Club Inc and what are their salaries?
The average compensation at Gulf Stream Bath And Tennis Club Inc during 2022 was $30,379. There are 74 employees and 15 volunteers at Gulf Stream Bath And Tennis Club Inc.
Here are 18 key members and their salaries:
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- Compensation: $125,942
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- Compensation: $155,884
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- Other: $24,617
Where can I find the form 990 for Gulf Stream Bath And Tennis Club Inc?
Gulf Stream Bath And Tennis Club Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Gulf Stream Bath And Tennis Club Inc
Gulf Stream Bath and Tennis Club Inc is a social organization with a tax-exempt purpose. Its mission is to operate a private recreational and social club, offering numerous facilities such as beaches, tennis courts, fitness centers, restaurants, swimming pools, and related amenities. The club is designed for the enjoyment of its members and their guests. The Gulf Stream Bath and Tennis Club provides food and beverage services approximately 220 days a year. In the fiscal year 2021-2022, the club generated gross revenues from food and beverage services totaling $1,838,050, with $133,173 coming from non-member sources. Despite generating revenues, the club's expenses for food and beverage services exceeded $2,288,131, resulting in an operating loss that was covered by membership dues. The club's operations primarily cater to its members and their guests, providing them with various recreational and social activities.
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Impact
October, 2024
Gulf Stream Bath and Tennis Club Inc has a significant impact on the local community in Delray Beach, Florida, providing a range of recreational and social opportunities for its members. The club operates as a private recreational facility, offering amenities such as beach access, tennis courts, swimming pools, and fitness areas, creating a vibrant space for physical activity and social interaction among its members.
Through its food and beverage services, which are operational for approximately 220 days a year, the club enhances the member experience and fosters a community atmosphere. In the fiscal year 2021-2022, the club generated substantial revenue from its food and beverage operations, contributing to the local economy and providing job opportunities. Although these operations incurred a loss that had to be supplemented by membership dues, the club remains a key social hub for its members, promoting wellness, leisure, and community engagement.
By providing a space designed for recreation and social interaction, Gulf Stream Bath and Tennis Club Inc plays a vital role in enhancing the quality of life for its members and their guests, while contributing to the local culture and economy in Delray Beach.
This information is meant to be a general summary of Gulf Stream Bath And Tennis Club Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $8,885
- Program Service Revenue: $3,012,154
- Gross Receipts: $5,185,176
Assets and Liabilities:
- Total Assets: $10,931,489
- Total Liabilities: $1,460,801
- Net Assets: $9,470,688
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP DUES
Revenue
$3,012,154
Organization Details
Founding Year
1990
Phone
(561) 272-2101Principal Officer
Michael Territo
Main Address
925 NORTH OCEAN BOULEVARD, DELRAY BEACH, FL, 33483
NTEE Category
Code: N50 - Recreation
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