Overview
What is Friends Of Basin Harbor Golf Inc?
Friends of Basin Harbor Golf Inc. is a nonprofit organization established in response to the COVID-19 pandemic's impact on Basin Harbor Resort, leading to the closure of its golf course. The nonprofit, FBHG, was formed to help save the course. A new five-year management agreement was executed between Clark Golf Management LLC (CGM) and Basin Harbor Resort, with CGM now operating the golf course, assuming all revenues, risks, and profits/losses. Basin Harbor/Beach Properties, Inc., however, continues to own the property but no longer receives revenues from the golf operation. FBHG's primary purpose is to support the golf club at Basin Harbor, ensuring its viability for the benefit of its membership. Members pay dues or separately to CGM to play, with membership validity based on dues paid to FBHG or direct cost payments to CGM for facility operation.
Is Friends Of Basin Harbor Golf Inc legitimate?
Friends Of Basin Harbor Golf Inc is a legitimate nonprofit organization registered as a 501(c)(7) entity. Friends Of Basin Harbor Golf 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: $0
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What is the mission statement of Friends Of Basin Harbor Golf Inc?
Friends of Basin Harbor Golf Inc's primary mission is to support a local golf club and ensure its continued viability for the benefit of its membership. After the Basin Harbor Resort closed its golf course due to the COVID-19 pandemic, Friends of Basin Harbor Golf Inc was established to aid in its rescue. A new five-year management agreement was executed between Clark Golf Management LLC and the resort, with the latter assuming all operational responsibilities, revenues, risks, and profits or losses. While Basin Harbor/Beach Properties Inc. retains ownership of the property, it no longer receives any revenue from the golf operation. The financial support from Friends of Basin Harbor Golf Inc and the new operating model have increased the likelihood of the golf course's survival. Members of the organization can play golf during the season based on their dues paid to Friends of Basin Harbor Golf Inc or by separately paying to Clark Golf Management LLC.
Who is the CEO of Friends Of Basin Harbor Golf Inc?
Daniel Morris is the Secretary of Friends Of Basin Harbor Golf Inc.
What is the revenue of Friends Of Basin Harbor Golf Inc?
Friends Of Basin Harbor Golf Inc's revenue in 2022 was $14,000.
Who are the executives of Friends Of Basin Harbor Golf Inc and what are their salaries?
There 4 volunteers at Friends Of Basin Harbor Golf Inc.
Here are 4 key members and their salaries:
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Friends Of Basin Harbor Golf Inc?
Friends Of Basin Harbor Golf Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Friends Of Basin Harbor Golf Inc
Friends of Basin Harbor Golf Inc, a nonprofit organization, was established with the primary purpose of supporting the golf club at Basin Harbor and ensuring its survival and use for the benefit of the organization's membership. The organization's mission is centered around safeguarding the golf course, a vital asset for its members, during a challenging period. In the spring of 2020, the Covid-19 pandemic posed a significant threat to the Basin Harbor Resort, leading to the closure of the golf course. Recognizing the importance of preserving the golf course, Friends of Basin Harbor Golf Inc was formed to aid in its salvation.
Under a new five-year management agreement, Clark Golf Management LLC (CGM) took over the operation of the golf course. CGM assumed all revenues, risks, and profit or loss, while Basin Harbor/Beach Properties, Inc. continued to own the property but no longer received revenues from the golf operation. With the financial support of Friends of Basin Harbor Golf Inc and the new operating model, the golf course has shown signs of survival. During the golfing season, members of the organization enjoy playing on the course, with the duration of their membership determined by the dues they have paid to Friends of Basin Harbor Golf Inc or separately to CGM for direct facility operation costs. The majority of the members' dues, membership fees, and assessments are channeled to CGM to cover the operational expenses.
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Impact
October, 2024
Friends Of Basin Harbor Golf Inc has played a crucial role in preserving the golf course at Basin Harbor, particularly during the challenging times of the COVID-19 pandemic. When the pandemic prompted the closure of the golf course by the owners of Basin Harbor Resort, Friends Of Basin Harbor Golf was formed to address this imminent threat to the community's recreational resource.
Through the establishment of a new five-year operating agreement with Clark Golf Management LLC, the organization has ensured the golf course’s continued operation, allowing members to play and enjoy the sport they value. The financial support from Friends Of Basin Harbor Golf has facilitated a sustainable operational model that secures the future of the golf course while providing members access to recreational activities.
By focusing on the viability of the golf club, the organization has created a structure where members contribute through dues and fees, effectively allowing them to partake in the course's offerings. This communal support has not only helped avoid the loss of the golf course but also fostered a sense of camaraderie among the membership as they rally to keep this beloved recreational space alive for the benefit of all involved.
This information is meant to be a general summary of Friends Of Basin Harbor Golf 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.
- Program Service Revenue: $14,000
- Gross Receipts: $14,000
Assets and Liabilities:
- Total Assets: $26,991
- Total Liabilities: $15,939
- Net Assets: $11,052
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP DUES
Revenue
$14,000
Organization Details
Founding Year
2020
Phone
(802) 324-3683Principal Officer
Daniel Morris
Main Address
2531 MAPLE ST, WALTHAM, VT, 05491
NTEE Category
Code: N50 - Recreation
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