Preakness Hills Country Club
Preakness Hills Country Club: Stable Finances, Member-Focused Spending
EIN: 221207825 · Wayne, NJ · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $12.6M |
| Total Expenses | $8.9M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $100,000 |
| Net Assets | $4.9M |
| Transparency Score | 75/100 |
Is Preakness Hills Country Club Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Preakness Hills Country Club directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Preakness Hills Country Club
Preakness Hills Country Club (EIN: 221207825) is a nonprofit organization based in Wayne, NJ. The organization reported total revenue of $12.6M and total assets of $13.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Preakness Hills Country Club's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Preakness Hills Country Club is a large nonprofit that has been operating for 81 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 5.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $9.6M |
| Total Expenses | $8.9M |
| Surplus / Deficit | +$680K |
| Total Assets | $12.7M |
| Total Liabilities | $7.8M |
| Net Assets | $4.9M |
| Operating Margin | 7.1% |
| Debt-to-Asset Ratio | 61.2% |
| Months of Reserves | 17.0 months |
Financial Health Grade: A
In 2023, Preakness Hills Country Club reported a surplus of $680K with revenue exceeding expenses, holds 17.0 months of operating reserves (strong position), has a debt-to-asset ratio of 61.2% (high leverage).
Financial Trends
Over 14 years of filings (2010–2023), Preakness Hills Country Club's revenue has grown at a compound annual growth rate (CAGR) of 5.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +12.5% | +2.0% | +2.1% |
| 2022 | +8.9% | -3.6% | +4.2% |
| 2021 | +20.8% | +18.8% | -7.6% |
| 2020 | -14.2% | +1.8% | +5.9% |
| 2019 | +3.2% | +7.4% | +5.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1945 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Preakness Hills Country Club with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Preakness Hills Country Club allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $680K, with revenue exceeding expenses.
- Debt-to-asset ratio: 61.2%.
Executive Compensation Analysis
Executive compensation is not reported on the Form 990-EZ, as the organization indicates no officers, directors, trustees, or key employees received more than $100,000 in reportable compensation.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Preakness Hills Country Club's IRS 990 filings:
- Inconsistent filing of Form 990-EZ given reported revenues (e.g., $9,614,256 in 2023) and assets (e.g., $12,673,119 in 2023), which typically requires a full Form 990.
- Lack of essential governance policies (conflict of interest, whistleblower, document retention) raises concerns about internal controls and best practices.
- Limited transparency regarding program service details and impact, as is common with private member clubs.
Strengths
The following positive indicators were identified for Preakness Hills Country Club:
- Consistently strong revenue generation, with 2023 revenue at $9,614,256.
- Healthy asset base, with total assets of $12,673,119 in 2023.
- Positive net assets, indicating financial stability over time.
- Low reported fundraising expenses, suggesting efficient member engagement and retention.
Frequently Asked Questions about Preakness Hills Country Club
Is Preakness Hills Country Club a legitimate charity?
Preakness Hills Country Club (EIN: 221207825) is a registered tax-exempt nonprofit based in New Jersey. Our AI analysis gives it a Mission Score of 75/100. It has 14 years of IRS 990 filings on record. Total revenue: $12.6M. 3 red flags identified. 4 strengths noted. Financial health grade: A.
How does Preakness Hills Country Club spend its money?
Preakness Hills Country Club directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Preakness Hills Country Club tax-deductible?
Preakness Hills Country Club is registered as a tax-exempt nonprofit (EIN: 221207825). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Preakness Hills Country Club CEO make?
Preakness Hills Country Club's highest-compensated officer earns $100,000 annually. The organization reported $12.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Preakness Hills Country Club's spending goes to programs?
Preakness Hills Country Club directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Preakness Hills Country Club located?
Preakness Hills Country Club is headquartered in Wayne, New Jersey and files with the IRS under EIN 221207825.
How many years of IRS 990 filings does Preakness Hills Country Club have?
Preakness Hills Country Club has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $12.6M in total revenue.
What does Preakness Hills Country Club do?
Preakness Hills Country Club is a nonprofit organization in the Unknown sector, located in Wayne, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Preakness Hills Country Club have?
Preakness Hills Country Club reported total revenue of $12,639,369. Based on 14 IRS 990 filings on record.
What are Preakness Hills Country Club's total assets?
Preakness Hills Country Club holds total assets of $13,595,122 as reported in IRS 990 filings.
Where is Preakness Hills Country Club located?
Preakness Hills Country Club is based in Wayne, New Jersey.
What is Preakness Hills Country Club's EIN?
Preakness Hills Country Club's Employer Identification Number (EIN) is 221207825. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Preakness Hills Country Club?
Preakness Hills Country Club is classified under NTEE code Unknown (Unknown).
Is Preakness Hills Country Club a registered 501(c)(3)?
Preakness Hills Country Club appears in IRS records (EIN: 221207825). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Preakness Hills Country Club file IRS Form 990?
Yes, Preakness Hills Country Club has 14 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Preakness Hills Country Club's revenue in 2023?
In the 202312 filing period, Preakness Hills Country Club reported total revenue of $9,614,256, total expenses of $8,933,997, and net assets of $12,673,119.
Is Preakness Hills Country Club's revenue growing or declining?
Preakness Hills Country Club's revenue is growing. Revenue went from $8,548,723 (202212) to $9,614,256 (202312), a +12.5% change. Based on 14 filings on record.
What is Preakness Hills Country Club's most recent 990 filing?
The most recent IRS Form 990 filing for Preakness Hills Country Club covers tax period 202312. It shows revenue of $9,614,256, expenses of $8,933,997, total assets of $12,673,119, and liabilities of $7,756,898.
How much does Preakness Hills Country Club spend on programs vs administration?
Based on IRS 990 analysis, Preakness Hills Country Club allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Preakness Hills Country Club a trustworthy charity?
Based on AI analysis of IRS 990 data, Preakness Hills Country Club appears trustworthy. Mission Score: 75/100 (Good). 3 red flags identified. 4 strengths noted.
What are the red flags for Preakness Hills Country Club?
The following concerns were identified: Inconsistent filing of Form 990-EZ given reported revenues (e.g., $9,614,256 in 2023) and assets (e.g., $12,673,119 in 2023), which typically requires a full Form 990.. Lack of essential governance policies (conflict of interest, whistleblower, document retention) raises concerns about internal controls and best practices.. Limited transparency regarding program service details and impact, as is common with private member clubs.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Preakness Hills Country Club's strengths?
Positive indicators for Preakness Hills Country Club include: Consistently strong revenue generation, with 2023 revenue at $9,614,256.. Healthy asset base, with total assets of $12,673,119 in 2023.. Positive net assets, indicating financial stability over time.. Low reported fundraising expenses, suggesting efficient member engagement and retention.. These findings are derived from AI analysis of the organization's financial filings.
How does Preakness Hills Country Club compensate executives?
Executive compensation is not reported on the Form 990-EZ, as the organization indicates no officers, directors, trustees, or key employees received more than $100,000 in reportable compensation. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Preakness Hills Country Club?
• Form 990-EZ is filed, indicating gross receipts less than $200,000 and total assets less than $500,000, which is inconsistent with reported revenues and assets. • The organization reports 'no' to having a written conflict of interest policy, whistleblower policy, or document retention policy. • The organization does not provide a detailed breakdown of program service accomplishments beyond a general description of providing a country club for members. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
Given the reported revenues and assets significantly exceed the thresholds for filing a Form 990-EZ, why does Preakness Hills Country Club continue to file this abbreviated form?
The filing of a Form 990-EZ by Preakness Hills Country Club, despite revenues like $9,614,256 and assets like $12,673,119 in 2023, suggests a potential misinterpretation of IRS filing requirements or a specific exemption not immediately apparent from the provided data. Organizations with gross receipts of $200,000 or more or total assets of $500,000 or more at year-end are generally required to file the full Form 990.
How does the organization manage potential conflicts of interest or ensure ethical conduct without formal policies for conflict of interest, whistleblowers, or document retention?
The absence of formal written policies for conflict of interest, whistleblowers, and document retention indicates a reliance on informal practices or a lack of established governance best practices. While a private club might operate with a high degree of trust among its members and board, these policies are crucial for protecting the organization from legal and reputational risks, especially concerning financial transactions and decision-making.
Filing History
IRS 990 filing history for Preakness Hills Country Club showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Preakness Hills Country Club's revenue has grown by 89.7%, moving from $5.1M to $9.6M. Total assets increased by 31.9% over the same period, from $9.6M to $12.7M. Total functional expenses rose by 68.4%, from $5.3M to $8.9M. In its most recent filing year (2023), Preakness Hills Country Club reported a surplus of $680K, with revenue exceeding expenses. The organization holds $7.8M in liabilities against $12.7M in assets (debt-to-asset ratio: 61.2%), resulting in net assets of $4.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $9.6M | $8.9M | $12.7M | $7.8M | — | — |
| 2022 | $8.5M | $8.8M | $12.4M | $8.2M | — | View 990 |
| 2021 | $7.8M | $9.1M | $11.9M | $7.5M | — | View 990 |
| 2020 | $6.5M | $7.6M | $12.9M | $7.2M | — | View 990 |
| 2019 | $7.6M | $7.5M | $12.2M | $5.3M | — | — |
| 2018 | $7.3M | $7.0M | $11.6M | $4.8M | — | View 990 |
| 2017 | $7.3M | $7.2M | $11.6M | $5.1M | — | View 990 |
| 2016 | $7.1M | $6.8M | $11.6M | $5.2M | — | View 990 |
| 2015 | $7.3M | $7.9M | $10.1M | $4.0M | — | — |
| 2014 | $6.3M | $7.3M | $10.2M | $3.4M | — | View 990 |
| 2013 | $6.2M | $6.0M | $9.8M | $2.1M | — | View 990 |
| 2012 | $5.6M | $5.5M | $10.0M | $2.4M | — | View 990 |
| 2011 | $5.3M | $5.4M | $9.5M | $2.0M | — | View 990 |
| 2010 | $5.1M | $5.3M | $9.6M | $1.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $9.6M, expenses of $8.9M, and assets of $12.7M (revenue +12.5% year-over-year).
- 2022: Revenue of $8.5M, expenses of $8.8M, and assets of $12.4M (revenue +8.9% year-over-year).
- 2021: Revenue of $7.8M, expenses of $9.1M, and assets of $11.9M (revenue +20.8% year-over-year).
- 2020: Revenue of $6.5M, expenses of $7.6M, and assets of $12.9M (revenue -14.2% year-over-year).
- 2019: Revenue of $7.6M, expenses of $7.5M, and assets of $12.2M (revenue +3.2% year-over-year).
- 2018: Revenue of $7.3M, expenses of $7.0M, and assets of $11.6M (revenue +0.3% year-over-year).
- 2017: Revenue of $7.3M, expenses of $7.2M, and assets of $11.6M (revenue +3.4% year-over-year).
- 2016: Revenue of $7.1M, expenses of $6.8M, and assets of $11.6M (revenue -2.5% year-over-year).
- 2015: Revenue of $7.3M, expenses of $7.9M, and assets of $10.1M (revenue +16.1% year-over-year).
- 2014: Revenue of $6.3M, expenses of $7.3M, and assets of $10.2M (revenue +1.5% year-over-year).
- 2013: Revenue of $6.2M, expenses of $6.0M, and assets of $9.8M (revenue +10.1% year-over-year).
- 2012: Revenue of $5.6M, expenses of $5.5M, and assets of $10.0M (revenue +6.4% year-over-year).
- 2011: Revenue of $5.3M, expenses of $5.4M, and assets of $9.5M (revenue +3.8% year-over-year).
- 2010: Revenue of $5.1M, expenses of $5.3M, and assets of $9.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Preakness Hills Country Club:
Data Sources and Methodology
This transparency report for Preakness Hills Country Club is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.