A report that looked at Form 990s filed by 12 nonprofit clubs in the Louisville, Ky. area from 2009 to 2012 showed that only four had posted net gains in revenues less expenses over that period. Louisville Country Club showed the biggest increase, of over $1 million, even though its 2012 report was not included. Standard Country Club showed the biggest loss, of over $2 million, but its 2012 report was also not part of the study.
The two Louisville, Ky.-area properties have agreed to merge, effective April 1, after both member-owned clubs reported declines in profit in recent years. The merger will give members access to both clubs’ amenities, while reducing overall expenses for the clubs by combining staff and consolidating resources.