Carnoustie Golf Links, the charity that runs the Angus town’s three courses, had an income of just under £4.44 million in the year to March.
The performance, which saw a net increase in funds of £195,962, was in line with budget expectations.
The accounts cover the first full year of activity of CGLMC (Carnoustie Golf Links Management Committee) Ltd after it became a charity in November 2014.
Trustee chairman Patricia Sawers said the charity’s continued success depended on its obligation to maintain the courses to a standard capable of achieving Open Championship status.
The championship will return to Carnoustie in 2018, and the event is estimated to generate £140m for the wider community.
“The championship status of our course attracts visitors globally who in turn contribute circa 75-80% of our annual income,” she explained.
“At the same time we must look after local players and season ticket holders making golf accessible and available locally.”
More than 80% of the total income of £4,439,511 came from the courses and facilities, with the balance from merchandise, donations and other sources.
The cost of maintaining the Championship, Burnside and Buddon courses was the main outgoing at £3,595,165, representing 84.7% of the total expenditure of £4,243,549.
She said 2015 saw Carnoustie host one of golf’s great historical tournaments, the British Amateur Championship.
The event is of special significance to Carnoustie as the Dalhousie Golf Club was one of the 11 golf clubs who commissioned the original trophy.
The Championship course was in magnificent condition for the event, and she thanked the many volunteers who gave their time to its operation.
It was also the first year that CGLMC was able to make direct financial contributions to the town in the form of charitable grants.
Carnoustie Community Helpline received £2,500, Carnoustie Memories Club £2000, Carnoustie Coastguard £700, Carnoustie Panmure FC £5000, Carnoustie Golf Club £3,500 and Carnoustie Musical Society £2000.
Golfing vouchers and raffle prizes were donated to charity to a value of more than £22,000.
CGLMC and Carnoustie British Legion funded a war memorial to commemorate Victoria Cross recipients from the town, at a cost of £12,570.
Expenditure on junior golf was up £23,000 from the previous year, and the trustees remained committed to this “fundamental responsibility.”
*Carnoustie’s income was less than a quarter of that at St Andrews, the area’s other Open venue.
St Andrews Links Trust with seven courses had an income of £20.6m in 2015, the most recent year for which accounts were filed.
