Lake Hickory Country Club Inc

Nonprofit profile at a glance

EIN
560486013
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Hickory, NC, USA
Phone
8283282981
Rating confidence
Limited

Reported finances

Revenue
$6,949,249
Expenses
$6,915,696
Assets
$7,129,053
Liabilities
$4,991,110

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • DAVID CROSS (PRESIDENT)
  • JEFFREY GNIADEK (VICE PRESIDENT)

Highest reported compensation

  • KENNETH CHURCH (GENERAL MANAGER): $210,987 total reported compensation
  • CHARLES GARNETT (DIRECTOR OF TENNIS): $172,063 total reported compensation
  • KAREN CONNER (CFO): $120,934 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide means and facilities for entertainment, recreation, and refreshment of its members, and create opportunities for social interaction for members, their guests and familiies. Activities include golf, tennis, swimming and dining.

What it reported doing in 2024

To provide recreational, social and leisure facilities and activities to members, their families and their guests.

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 74
  • Accountability: 90
  • Sustainability: 33
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.5%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 1.03; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 0.7; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 10.2%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.8% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 4.7% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 12 of 12 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $211K · 17 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.