2024-06-17T13:29:06-05:00 2023-07-31 592840381 PHILLIPS FELDMAN GROUP 801 LAUREL OAK DRIVE SUITE 303 NAPLES FL 341082764 990 2022-08-01 590876282 THE PORT ROYAL CLUB INC PORT 2392617615 2900 GORDON DRIVE NAPLES FL 34102 BETHANY BOHALL INTERIM CFO 2392617615 2024-06-17 1 BETHANY BOHALL 999009999 0 NATHAN A PHILLIPS CPA P00189856 2395661600 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JEFF HARTIGAN 2900 GORDON DRIVE NAPLES FL 34102 67480294 0 X WWW.PORTROYALCLUB.ORG X 1959 FL THE PORT ROYAL CLUB WAS ESTABLISHED IN 1959. IT IS A PRIVATE BEACH CLUB OFFERING DINING, FITNESS, SWIMMING AND SOCIAL SERVICES FOR ITS MEMBERS. PORT ROYAL PROPERTY OWNERSHIP IS REQUIRED FOR MEMBERSHIP. THE CLUB IS OPEN FROM MID-AUGUST TO MID-JULY, WHEN IT CLOSES FOR A MONTH. X 12 12 183 13 1027672 820120 0 0 7534276 9014943 398365 -11864305 10508576 34684649 18441217 31835287 0 0 0 0 8824254 3894772 0 0 0 7641008 8756990 16465262 12651762 1975955 19183525 59906964 74410136 13010466 9023523 46896498 65386613 X THE MISSION OF THE PORT ROYAL CLUB IS TO BE AN OUTSTANDING FAMILY BEACH CLUB WITH EXCELLENT FACILITIES FOR DINING, TENNIS, SWIMMING AND FITNESS, WHICH MEMBERS WILL BE PROUD TO USE FOR THEIR PERSONAL AND ENTERTAINMENT NEEDS. MANAGEMENT WILL STRIVE FOR EXCELLENCE IN ALL ASPECTS OF CLUB OFFERINGS IN A FISCALLY RESPONSIBLE MANNER.THE PORT ROYAL CLUB WAS ESTABLISHED IN 1959 AND IS A PRIVATE BEACH CLUB. PORT ROYAL PROPERTY OWNERSHIP IS REQUIRED FOR MEMBERSHIP. THE CLUB IS OPEN FROM MID-AUGUST TO MID-JULY, WHEN IT CLOSES FOR A MONTH.INITIATION FEE: $250,000 PLUS FL STATE SALES TAX (DUE UPON APPLICATION FOR MEMBERSHIP)ANNUAL DUES: $13,030 PLUS FL STATE SALES TAX (PRO-RATED FROM DATE MEMBERSHIP APPLICATION IS RECEIVED FOR FISCAL YEAR ENDING JULY 31) 0 0 THE PORT ROYAL CLUB (PRC) IS A PRIVATE BEACH CLUB OFFERING DINING, FITNESS, SWIMMING, AND SOCIAL FACILITIES FOR ITS MEMBERS. THE CLUB IS NORMALLY OPEN FROM MID-AUGUST UNTIL MID JULY, WHEN IT CLOSES FOR A MONTH. THE PORT ROYAL CLUBHOUSE WAS SEVERELY DAMAGED IN HURRICANE IAN IN SEPTEMBER 2022. THE CLUB'S DINING FACILITIES HAVE BEEN OPERATING VIA VARIOUS TEMPORARY SET-UPS, INCLUDING A DINING TENT AND FOOD TRUCKS. WHEN THE NEW CLUBHOUSE OPENS, THE CLUB WILL RESUME NORMAL OPERATIONS, WITH MODIFICATIONS AS NEEDED TO ACCOMMODATE THE NEW BUILDING. UNDER NORMAL CIRCUMSTANCES:THE WELCOME BACK PARTY IN NOVEMBER WELCOMES MEMBERS WHEN THEY COME INTO TOWN BRINGING THEIR FAMILIES FOR THE SEASON.OTHER PARTIES ARE PREPARED TO CELEBRATE IMPORTANT DATES, SUCH AS HALLOWEEN, THANKSGIVING, CHRISTMAS, NEW YEAR'S EVE, SUPER BOWL, VALENTINE'S DAY, EASTER, MEMORIAL DAY AND INDEPENDENCE DAY. A CONTINENTAL BREAKFAST IS OFFERED EVERY MORNING FROM 7:30 TO 10 A.M., EXCEPT ON MONDAYS, NOVEMBER THRU MAY.PRC ALSO OFFERS A LA CARTE LUNCH (12-3 P.M.) AND DINNER (5-9 P.M.) TUESDAY THROUGH SATURDAY, CLOSED SUNDAY EVENINGS MAY TO NOVEMBER. MANY FRIDAY NIGHTS IN SEASON, AT THE MAIN DINING ROOM, THERE IS A SEAFOOD BUFFET, AND TO FINISH THE WEEKEND, THERE IS A SUNDAY BRUNCH AND SUNDAY SUNSET DINNER.THE CLUB CAN ACCOMMODATE UP TO 300 PEOPLE FOR PRIVATE PARTIES INCLUDING BIRTHDAYS, WEDDINGS, CHRISTMAS PARTIES.THE PORT ROYAL CLUB HAS A FITNESS CENTER ACROSS THE STREET FROM THE CLUBHOUSE. AMENITIES INCLUDE: TECHNOGYM EQUIPMENT - AMONG THE FINEST IN THE WORLD, PERSONAL TRAINING, PILATES AND AEROBICS ROOMS. THE MEMBERS CAN ALSO MAKE APPOINTMENTS FOR MASSAGE AND FACIAL TREATMENTS.ALONG WITH THE FITNESS FACILITIES THERE ARE NINE HYDRO-GRID TENNIS COURTS AND A PRO SHOP. 0 0 0 0 0 0 0 0 0 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 1 0 0 0 0 1 69 0 1 183 1 1 1 0 0 0 1 1 3662500 302313 0 0 0 X 12 12 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X X JEFF HARTIGAN 2392617615 2900 GORDON DRIVE NAPLES FL 34102 X EDWARD RORER PRESIDENT 15.00 X X 0 0 0 MICHAEL MCGAVICK 1ST VICE PRESIDENT 5.00 X X 0 0 0 STEPHEN TEAFORD 2ND VICE PRESIDENT 10.00 X X 0 0 0 NANCY CARLSON TREASURER 15.00 X X 0 0 0 PAUL COULOMBE DIRECTOR 10.00 X 0 0 0 FRANK HALLINAN DIRECTOR 5.00 X 0 0 0 ROBERT KOHLHEPP DIRECTOR 5.00 X 0 0 0 CECE KOONS DIRECTOR 5.00 X 0 0 0 HENRY SAAD DIRECTOR 5.00 X 0 0 0 JULIE KUKK DIRECTOR 5.00 X 0 0 0 CAROLE GAUNT DIRECTOR 5.00 X 0 0 0 SARA HAYES DIRECTOR 5.00 X 0 0 0 JEFFREY HARTIGAN CHIEF OPERATING OFFICER 40.00 X 428344 0 4210 DAVID DANIOT EXECUTIVE CHEF 40.00 X 182660 0 4210 JAMES MILLET ASSISTANT GENERAL MANAGER 40.00 X 138869 0 6537 KATHLEEN HOEFT FITNESS DIRECTOR 40.00 X 137207 0 6537 FRANCO MATA TENNIS PRO 40.00 X 143368 0 11433 MICHAEL LATORA WINE STEWARD 40.00 X 115525 0 5417 LOUIS VOSLOO TENNIS DIRECTOR 40.00 X 123441 0 11726 KAREN NACCARATO FORMER CHIEF FINANCIAL OFFICER 40.00 X 185320 0 4210 1454734 0 54280 8 1 1 0 DC HOSPITALITY SOLUTIONS 5601 NW 5TH ST 11 MIAMI FL 33126 CONTRACT LABOR 457381 LOCKTON COMPANIES 3601 SW 160TH AVE STE 200 MIRAMAR FL 33027 INSURANCE 217783 RITZMAN COURTS 1215 SW 7TH COURT CAPE CORAL FL 33991 COURT REPAIR 204900 KCI TEMPORARY KITCHENS LLC 3724 COOK BLVD CHESAPEAKE VA 23323 EQUIPMENT RENTAL 157950 CHEFFY PASSIDOMO LLP 821 5TH AVE S NAPLES FL 34102 LEGAL SERVICES 104007 5 MEMBERSHIP DUES AND FEES 900099 9011918 9011918 GUEST FEES 900099 3025 3025 9014943 948483 948483 200 0 200 200 200 18180071 18153015 12839844 27056 -12839844 -12812788 -12839844 27056 2170314 4652148 -2481834 -2349275 -132559 INSURANCE PROCEEDS 524298 31329536 31329536 INITIATION FEES 900099 3662500 3662500 FITNESS SPORTS INCOME AND OTHER 900099 1340197 1249940 90257 834050 742840 91210 37166283 31835287 30807615 1027672 0 X 611208 2618706 178623 243774 242461 100906 46315 203717 983350 782065 INCOME TAX EXPENSE 160582 HURRICANE IAN EXPENSES 2171249 TEMPORARY FACILITIES 1219925 FOOD/BEVERAGE 692575 2396306 12651762 10019467 7532566 153639 229312 196393 127188 1061400 709420 10942198 5466416 15900594 5475782 31017597 39273006 1557874 21062862 59906964 74410136 1938827 1667520 7848263 5102207 3223376 2253796 13010466 9023523 X 46896498 65386613 46896498 65386613 59906964 74410136 19183525 -693410 0 X X 0 1 X 1 0 178582 178582 8004668 4078122 3926546 2758948 1388294 1370654 5475782 BOARD DESIGNATED EXCHANGE FUNDS 39273006 F 39273006 CONSTRUCTION-IN-PROGRESS 659460 DEPOSITS AND OTHER ASSETS 77267 INSURANCE PROCEEDS RECEIVABLE - CURRENT 7500000 INSURANCE PROCEEDS RECEIVABLE - LONG-TERM 12500000 RIGHT-OF-USE ASSETS, NET - FINANCE LEASES 326135 21062862 REFUNDABLE CAPITAL ASSESSMENTS 459000 RESIDENT HOLDING DEPOSITS 1012500 FINANCE LEASE LIABILITIES 338375 DEFERRED COMPENSATION PLAN AND EDUCATION FUND 443921 2253796 X 48633669 -693410 17491992 16798582 31835087 200 200 31835287 30143554 17491992 17491992 12651562 200 200 12651762 PART X, LINE 2: THE CLUB HAS EVALUATED ITS TAX POSITIONS AND CONCLUDED THAT THE CLUB HAS TAKEN NO UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 4,652,148. LOSS ON DISPOSAL OF ASSETS 12,839,844. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL INCOME - PRIVATE EVENT 200. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 4,652,148. LOSS ON DISPOSAL OF ASSETS 12,839,844. PART XII, LINE 4B - OTHER ADJUSTMENTS: RENTAL INCOME - PRIVATE EVENT 200. X X X 0 1 0 JEFFREY HARTIGAN CHIEF OPERATING OFFICER 355344 0 52500 0 20500 0 0 0 4210 0 432554 0 0 0 KAREN NACCARATO FORMER CHIEF FINANCIAL OFFICER 145828 0 0 0 39492 0 0 0 4210 0 189530 0 0 0 DAVID DANIOT EXECUTIVE CHEF 182660 0 0 0 0 0 0 0 4210 0 186870 0 0 0 FRANCO MATA TENNIS PRO 129825 0 0 0 13543 0 0 0 11433 0 154801 0 0 0 PART I, LINE 3 COMPENSATION FOR THE GM/COO IS APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD. CFO COMPENSATION IS APPROVED BY THE GM/COO COMPARABLE BY REVIEWING COMPARABLE POSITIONS USING PUBLISHED INDUSTRY GUIDES. PART I, LINE 4B KAREN NACCARATO, CONTROLLER / CFO, SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: $13,853 LOCKTON COMPANIES LLC CLUB MEMBER 217783 LOCKTON COMPANIES, LLC PROVIDES PROPERTY / CASUALTY INSURANCE TO THE CLUB. 0 CLUB BUILDING, SPORTS FACILITIES, AND INTERIOR AND EXTERIOR CONTENTS. 2022-09-28 22837806 ACTUAL COST WITHOUT DEPRECIATION. CONSTRUCTION IN PROGRESS. 2022-09-28 2202114 ACTUAL COST (NO DEPRECIATION/NOT IN SERVICE). 0 0 0 0 PART II LINE 1A 1. CLUB BUILDING, SPORTS FACILITIES, AND INTERIOR AND EXTERIOR CONTENTS WERE DESTROYED WITH CATASTROPHIC FLOODING AND RELATED IMPACTS FROM HURRICANE IAN ON SEPTEMBER 28, 2022. MASS FIXED ASSET DISPOSALS AS A RESULT OF THIS EVENT INCLUDED: BUILDING IMPROVEMENTS, KITCHEN EQUIPMENT, CLUB FURNISHINGS, SPORTS EQUIPMENT, OFFICE EQUIPMENT, VEHICLES, AND GROUNDS MAINTENANCE EQUIPMENT.2. CONSTRUCTION IN PROGRESS AS OF SEPTEMBER 28, 2022 WAS ALSO DESTROYED AS A RESULT OF HURRICANE IAN. DUE TO THE SIGNIFICANT DAMAGES DUE TO HURRICANE IAN, THERE WERE NO SALES OR TRANSFERS OF THE PROPERTY ABOVE TO ANY OTHER ENTITY, THEREFORE, NO INFORMATION IS REPORTED IN PART II, LINE 1,(E)-(G). THE TAXPAYER HAS ELECTED TO REINVEST THE INSURANCE PROCEEDS REPORTED FOR THE FISCAL YEAR ENDED JULY 31, 2023 IN NEW ASSETS UNDER SECTION 512(A)(3)(D). FORM 990, PART VI, SECTION A, LINE 4 ARTICLE IV, SECTION 1; THE CHANGE EXTENDED A DIRECTOR'S TERM OF FOUR YEARS FOR ONE ADDITIONAL YEAR UNDER CERTAIN CIRCUMSTANCES. IF A DIRECTOR IS ELECTED PRESIDENT WITH ONLY ONE YEAR LEFT IN HIS/HER TERM, THIS BY-LAW CHANGE ALLOWS THAT PERSON TO CONTINUE TO SERVE FOR AN ADDITIONAL YEAR BEYOND THE NORMAL FOUR-YEAR TERM, RESULTING IN THAT PERSON SERVING A TWO-YEAR TERM AS PRESIDENT. THE CHANGE ALSO ALLOWED A SITTING PRESIDENT TO SERVE ONE ADDITIONAL YEAR BEYOND THE NORMAL TERM AS A DIRECTOR AND AS PRESIDENT IF "EXCEPTIONAL CIRCUMSTANCES" HAVE ARISEN THAT WARRANT SUCH AN EXTENSION. FORM 990, PART VI, SECTION A, LINE 6 THE CLUB IS A 501(C)(7) CLUB WITH MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE CLUB MAY ELECT MEMBERS TO THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD OF DIRECTOR'S DECISION TO SELL OR OTHERWISE ENCUMBER CLUB LAND OR REAL PROPERTY, LEVY ASSESSMENTS IN EXCESS OF $500 IN ANY FISCAL YEAR, OR DECISIONS TO ADOPT, ALTER, AMEND, OR RESCIND THE CLUB'S BY-LAWS ARE SUBJECT TO MEMBER APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B THE CHIEF FINANCIAL OFFICER AND GM REVIEW THE FEDERAL FORMS 990/990T AND F-1120 AND IF THEY HAVE QUESTIONS, THEY CONTACT THE PREPARER. THE RETURNS ARE THEN PRESENTED TO THE GOVERNING BODY AT A BOARD MEETING PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C MANAGEMENT STAFF COMPLETES AND SIGNS A DISCLOSURE STATEMENT INDICATING ORGANIZATIONS TO WHICH THEY ARE AFFILIATED THAT TRANSACT WITH THE CLUB. THE DISCLOSURE STATEMENT SPECIFIES THE DUTY TO DISCLOSE ANY FINANCIAL INTEREST PRIOR TO NEGOTIATING ANY PROPOSED TRANSACTION TO THE BOARD OF DIRECTORS. NEW VENDORS ARE REQUIRED TO COMPLETE A NEW VENDOR FORM WHICH IS APPROVED BY MANAGEMENT. THE CLUB'S NEW VENDOR FORM REQUESTS THE IDENTIFICATION OF POTENTIAL RELATED-PARTY SITUATIONS. IF A RELATED-PARTY SITUATION IS CREATED BY THE SELECTION OF A PARTICULAR VENDOR, THE CLUB FOLLOWS ITS ESTABLISHED POLICIES AND PROCEDURES FOR IDENTIFYING AND APPROVING SUCH RELATIONSHIPS, INCLUDING THE COMPLETION OF AN APPROVED CONFLICT OF INTEREST FORM. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS PERFORM A FORMAL REVIEW OF THE GENERAL MANAGER ANNUALLY. THE FORMAL REVIEW FORM IS DIVIDED INTO SECTIONS WITH THE REVIEWER NOTING WHETHER THE GENERAL MANAGER "EXCEEDS REQUIREMENTS, MEETS REQUIREMENTS, DOES NOT MEET REQUIREMENTS AND NO OPINION". THE REVIEWER IS ALSO ALLOWED COMMENTS FOR EACH SECTION. SECTION A EVALUATES THE END RESULTS OF THE CLUB'S ACTIVITIES THAT DIRECTLY AFFECT MEMBERS; PRC BELIEVES THE GENERAL MANAGER IS DIRECTLY OR INDIRECTLY RESPONSIBLE FOR QUALITY IN THESE AREAS. THE AREAS INCLUDE: FOOD AND BEVERAGE, PRIVATE PARTIES, CLUB EVENTS, FITNESS, TENNIS, CLUBHOUSE AND GROUNDS. THE SECOND SECTION EVALUATES OTHER IMPORTANT OPERATIONS OF THE CLUB THAT ARE MORE INTERNAL AND NOT DIRECTLY APPARENT TO MEMBERSHIP AS A WHOLE. THE GM'S INDIVIDUAL PERFORMANCE RELATIVE TO THESE ACTIVITIES ARE EVALUATED. THESE ACTIVITIES INCLUDE: PERSONNEL MANAGEMENT, MEMBER RELATIONS, BOARD RELATIONS, FINANCIAL MANAGEMENT, CONSTRUCTION MANAGEMENT. THE NEXT SECTION OF THE EVALUATION EVALUATES THE PERSONAL CHARACTERISTICS OF THE GENERAL MANAGER. THE PERSONAL CHARACTERISTICS EVALUATED INCLUDE: KNOWLEDGE OF THE CLUB, KNOWLEDGE OF CLUB MANAGEMENT, WORK ETHIC, LEADERSHIP, CANDOR, FLEXIBILITY, PROBLEM MANAGEMENT. THE LAST SECTION ALLOWS THE REVIEWER TO PROVIDE AN OPPORTUNITY FOR OVERALL EVALUATION OF THE GENERAL MANAGER. THE GENERAL MANAGER PERFORMS A FORMAL REVIEW OF THE CHIEF FINANCIAL OFFICER ANNUALLY. THE FORMAL REVIEW FORM IS DIVIDED INTO EVALUATION TOPICS (QUANTITY OF WORK, QUALITY OF WORK, PUNCTUALITY OF WORK, INITIATIVE, CREATIVITY AND JUDGMENT, COMMITMENT TO THE CLUB'S GOALS, ABILITY TO WORK WITH OTHERS, RESPONSIVENESS TO SUPERVISION, COMPLIANCE WITH CLUB POLICY AND PRACTICES AND OVERALL PERFORMANCE). FOR EACH EVALUATION TOPIC, THE GENERAL MANAGER REVIEWS THE CHIEF FINANCIAL OFFICER USING A SLIDING RATING SCALE OF A THROUGH E RATINGS. THEN THE GENERAL MANAGER MAY COMMENT AND MAKE SUGGESTIONS, AS NEEDED. AT THE END OF THE EVALUATION, THE GENERAL MANAGER NOTES ANY ADDITIONAL COMMENTS, PRIMARY AREAS OF FUTURE FOCUS FOR THE CHIEF FINANCIAL OFFICER. THERE ARE ALSO SECTIONS FOR COMMENTS ON SUPERVISOR'S COMMENTS, AREAS FOR IMPROVEMENT AND EMPLOYEE COMMENTS. THE FORM IS SIGNED BY BOTH THE GENERAL MANAGER AND CHIEF FINANCIAL OFFICER. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE PUBLISHED IN PRC'S MEMBER DIRECTORY BOOK AND DISTRIBUTED TO EACH MEMBER EVERY YEAR AS WELL AS POSTED ON THE PRC WEBSITE (WWW.PORTROYALCLUB.ORG). FINANCIAL STATEMENTS AND CLUB POLICIES ARE AVAILABLE FOR MEMBERS UPON REQUEST AND UPON INSPECTION AT THE CLUB. PRINTED COPIES OF FINANCIALS ARE PROVIDED FOR MEMBERS AT THE ANNUAL MEETING. THE FEDERAL FORM 990 IS AVAILABLE FOR VIEWING ON GUIDESTAR. FORM 990, PART IX, LINE 24E GROUNDS 630,259. CLUBHOUSE 599,543. SPORTS 440,297. ENTERTAINMENT 437,517. PERSONAL PROPERTY AND REAL ESTATE TAXES 195,400. MEMBERSHIP ACTIVITIES 72,483. ADMIN/GENERAL 20,807. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.