Palm Beach Country Club Inc

Nonprofit profile at a glance

EIN
590706084
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Palm Beach, FL, USA
Phone
5618443501
Rating confidence
Limited

Reported finances

Revenue
$17,107,322
Expenses
$27,182,893
Assets
$83,917,302
Liabilities
$15,007,064

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

Leadership & pay

27 people listed

Executive titles in this filing

  • JOHN WALLERSTEIN (PRESIDENT)
  • MICHAEL MARGOLIS (VICE-PRESIDENT & SECRETARY)
  • MICHAEL ROME (VICE-PRESIDENT & TREASURER)
  • ROBERT SCHLAGER (PAST PRESIDENT)

Highest reported compensation

  • RONALD PASSAGIO (GENERAL MANAGER): $750,507 total reported compensation
  • RICHARD KELLEMS (CFO): $531,320 total reported compensation
  • GEORGE KERVERN (GOLF SUPERINTENDENT): $441,353 total reported compensation

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

Overview

Mission

Palm beach country club is a social club whose expemt purpose is to promote social interaction of club members by providing dining and recreational activities.

What it reported doing in 2024

Food and beverage sales totaled $3,346,357 for the year ending 06/30/2025, of which $4,280 was non-member related income.

Operating model

Revenue model
Other-operating. 98% of the money available for current operations came from other operating 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: 82
  • Accountability: 90
  • Sustainability: 31
  • 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; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th 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: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -58.9%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 3.09; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 61; 61st percentile among comparable filings
  • Officer compensation ratio: 12.9%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 2.9% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: 10.4% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 16 of 16 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $751K · 27 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.1M reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 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.

  • High — Sustainability: Operating margin scored 1/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 12/100.