CHARLOTTE — Country club revenue has soared in the wake of the pandemic, along with dues and membership costs.
An analysis by The Business Journals of IRS forms for nonprofit country clubs shows assets have also grown steadily for country clubs in Charlotte and North Carolina.
That includes Charlotte’s Myers Park Country Club, which ranked as North Carolina’s largest nonprofit country club by assets. Myers Park Country Club, Charlotte Country Club and Carmel Country Club lead the asset ranking for all North Carolina nonprofit clubs, each with assets topping $54 million in 2022. That’s according to the clubs’ 990 forms.
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While experts say asset value isn’t always an exact indicator of club wealth or health, and that clubs often value or depreciate assets differently, industry analysts agree that, in good times, assets should go up as clubs reinvest in themselves to attract more members and satisfy the ones they have.
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