Towers Country Club Inc C/o North Shore Towers Management

Nonprofit profile at a glance

EIN
132854903
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Floral Park, NY, USA
Phone
7184233335
Rating
48
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$4,670,533
Expenses
$5,420,853
Assets
$6,855,553
Liabilities
$2,342,721

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

Leadership & pay

10 people listed

Executive titles in this filing

  • MARTIN SCHWARTZMAN (PRESIDENT)

Highest reported compensation

  • COCO XIE (CLUB MANAGER): $109,523 total reported compensation

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

Overview

Mission

The organization operates a private country club and golf course exclusively for the pleasure and recreation of its members, their families and guests on behalf of north shore towers apartments, inc.

What it reported doing in 2024

The towers country club features an 18-hole, 5,751-yard, par-70 golf course known for its rolling terrain, tree lined fairways, and manicured greens. The club boasts a robust schedule of social activities and the friendly competition of tournaments for members and their guests.

Operating model

Revenue model
Earned-program. 97% 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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 30
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -16.1%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 1.26; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 0.34; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 2%; rating input score 76; 76th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 2.1% per year; rating input score 100; 21st percentile among comparable filings
  • Asset growth: 5.7% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 7 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $110K · 10 people listed
  • Highest-paid contractors: 2 contractors listed · $427K reported
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Operating margin scored 9/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.