Though Curt Zander failed repeatedly to provide financial reports, as required by his lease with the city…
… Even so, there are ways of figuring out some of the golf course’s finances. A North Beach News review of the Ocean Shores Golf Course tax returns (provided promptly after a public records request to the city) shows a healthy revenue stream–for Zander, at least. The city, which owns the golf course, not only has been allowing him to operate with no lease payments, but, according to the OS budget pays half the “costs of professional services for the Golf Course’s annual tax return.” (Which makes such returns subject to public records requests.)
In 2018, Zander’s operation showed a “gross profit” of nearly a half million dollars. Revenues and gross profit decreased in 2019, but only by a small amount.
In 2020, with pandemic shut downs elsewhere leading to a tourist boom in Ocean Shores, golf course revenue and gross profit rocketed by more than 20%.
Meanwhile, the salary Zander paid–to himself and to his wife, Tonya, the other officer in the corporation Ocean Shores Golf Course Inc.– jumped, from $91,512 in 2018 to $151,400 in 2020. Tonya Zander’s compensation more than doubled, from less than $25,000 to more than $62,000, while Curt Zander gave himself a raise, from $58,000 to $89,000.
With deductions of $575,375 matching income of $575,375…the golf course paid no federal tax. Deductions also matched income in 2019; again, this meant no federal income tax was owed. In 2018, deductions were $27,810 less than income, resulting in the golf course paying $5,967 in federal tax.
The following are excerpts from the Aberdeen CPA reports filed: