SOCC, INC. dba SEVEN OAKS COUNTRY CLUB
STATEMENTS OF ACTIVITIES Years Ended December 31, 2022 and 2021
2022
2021
Revenues: Membership dues (Note 8)
$ 7,255,277
$ 6,582,586
Food and beverage Golf: Sale of merchandise
4,227,830
3,205,205
431,286 416,054 187,257 171,696 119,754 455,065
409,135 421,359 130,779 189,664 67,680 260,265
Cart rentals and trail fees
Greens fees
Lessons
Tournament fees
Other income
13,264,219
11,266,673
Expenses: Food and beverage
4,168,462 2,945,410 1,697,454 1,467,350 1,190,590
3,107,826 2,654,037 1,458,751 1,215,958 1,078,570
Golf course maintenance General and administrative Clubhouse maintenance Golf activities and pro shop
Sports and fitness
444,561 375,369
383,421 343,096
Membership and marketing
12,289,196
10,241,659
Excess of revenue over expenses before other revenue (expenses) and other changes in net assets without donor restrictions
975,023
1,025,014
Other revenue (expenses): Employee Retention Credit (Note 1)
600,488 (28,513) (131,161) (686,910) (246,096)
1,160,904 (29,677) (174,956) (709,106) 247,165
Interest (expense)
(Loss) on disposition of property and equipment
Depreciation
Excess of revenue over expenses before other changes in net assets without donor restrictions
728,927
1,272,179
Other changes in net assets without donor restrictions: Initiation and transfer fees - non-proprietary
110,700 291,800 (46,900) 355,600
111,183 154,200 (37,518) 227,865
Sale of proprietary memberships
Redemption of proprietary memberships
Increase in net assets without donor restrictions
1,084,527
1,500,044
Net assets without donor restrictions: Beginning
14,839,590
13,339,546
Ending
$ 15,924,117
$ 14,839,590
See Notes to Financial Statements.
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