2024-11-13T15:54:16-06:00 2023-12-31 540737372 PBMARES LLP 12150 MONUMENT DRIVE SUITE 350 FAIRFAX VA 22033 990 2023-01-01 560506447 CHARLOTTE CITY CLUB INC CHAR 7043344738 121 W TRADE STREET SUITE 3100 CHARLOTTE NC 28202 BEN MILLER PRESIDENT 7043344738 2024-11-13 1 0 EDWARD T YODER CPA P00239134 7033858577 2024-11-13 X 2023 2024-10-15 13:58:12Z BEN MILLER 121 W TRADE STREET SUITE 3100 CHARLOTTE NC 28202 6345418 0 X WWW.CHARLOTTECITTYCLUB.COM X 1947 NC THE PURPOSE OF CHARLOTTE CITY CLUB, INC. (THE CLUB) IS TO OPERATE A PRIVATE DINING FACILITY FOR MEMBERS AND THEIR GUESTS. TO PROVIDE THE MEMBERS THE OPPORTUNITY TO CONVENE, SOCIALIZE AND RECREATE IN ORDER TO FORM A COMMON BOND OF FRIENDSHIP AND COMMUNITY. THE CLUB IS NOT OPEN TO THE GENERAL PUBLIC. 15 15 66 52 682636 447906 0 0 1407732 2631740 59931 482256 1388473 741827 2856136 3855823 0 0 0 0 1523202 2368387 0 0 0 2344944 2118463 3868146 4486850 -1012010 -631027 12113469 16346429 4721319 9417151 7392150 6929278 X CHARLOTTE CITY CLUB IS AN UNPARALLELED PRIVATE HAVEN IN THE HEART OF UPTOWN. OUR MEMBER COMMUNITY ENGAGES IN FELLOWSHIP, CULTURE, SPORTS, ARTS AND ENTERTAINMENT TO CONNECT AND SHARE IN LIFE'S GREATEST MOMENTS. 0 1 THE PURPOSE OF CHARLOTTE CITY CLUB, INC. (THE CLUB) IS TO OPERATE A PRIVATE DINING FACILITY FOR MEMBERS AND THEIR GUESTS. TO PROVIDE THE MEMBERS THE OPPORTUNITY TO CONVENE, SOCIALIZE AND RECREATE IN ORDER TO FORM A COMMON BOND OF FRIENDSHIP AND COMMUNITY. THE CLUB IS NOT OPEN TO THE GENERAL PUBLIC. 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2 0 1 66 1 1 1 0 0 0 0 0 479095 0 0 0 X 15 15 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X THE CLUB 7043344738 121 W TRADE STREET SUITE 3100 CHARLOTTE NC 28202 BEN MILLER PRESIDENT 5.00 X X 0 0 0 GREG JAMES TREASURER 5.00 X X 0 0 0 MASON ALEXANDER SECRETARY 5.00 X X 0 0 0 CRAIG DANFORTH GOVERNOR 5.00 X 0 0 0 JEFF O'KEEFE GOVERNOR 1.00 X 0 0 0 MARK MEAD GOVERNOR 1.00 X 0 0 0 LYNNE TATUM LITTLE GOVERNOR 1.00 X 0 0 0 SHARAI LAVOIE GOVERNOR 1.00 X 0 0 0 MARSHALL MONROE GOVERNOR 1.00 X 0 0 0 JAMES MANNIX GOVERNOR 1.00 X 0 0 0 CAMERON CAUDLE GOVERNOR 1.00 X 0 0 0 JOHN MARSHALL GOVERNOR 1.00 X 0 0 0 KELLY YAKSCOE GOVERNOR 1.00 X 0 0 0 RONNIE BRYANT PAST PRESIDENT 1.00 X 0 0 0 MIKE WILSON GOVERNOR 1.00 X 0 0 0 ELISHA CICERONE GENERAL MANAGER/COO 40.00 X 116452 0 6985 MICHAEL GARDNER EXECUTIVE CHEF 40.00 X 131689 0 7959 248141 0 14944 2 0 0 0 TR 121 W TRADE LLC 33345 COLLECTION CENTER DRIVE CHICAGO IL 60693 RENT & UTILITIES 605008 US FOODS PO BOX 602292 CHARLOTTE NC 282602292 FOOD PURCHASES 184104 PREFERRED PARKING 128 SOUTH TRYON ST SUITE 1560 CHARLOTTE NC 28202 PARKING/GARAGE 107046 3 MEMBERSHIP DUES 713990 2631740 2631740 2631740 124085 124085 2079311 1721140 358171 358171 358171 1445154 768455 676699 476319 200380 MISC. REVENUE-RELATED-990 713990 65128 65128 65128 3855823 3173187 682636 0 1979345 65144 179347 144551 57019 23250 17500 178731 94825 597810 12843 70122 621599 45794 INCOME TAX EXPENSE 42175 REPAIRS & MAINTENANCE 170565 SUPPLIES 72705 CLEANING & LAUNDRY 46333 67192 4486850 113213 123368 26351 302924 444845 359052 86690 99316 20848 39169 8720304 3070503 6197424 5649801 5224098 4625936 0 5146863 12113469 16346429 277335 471834 1439548 239134 2531076 2454476 473360 6251707 4721319 9417151 X 7392150 6929278 7392150 6929278 12113469 16346429 -631027 168155 0 X 0 1 X 1 0 5785645 1890577 3895068 2934659 1179926 1754733 5649801 RIGHT OF USE ASSETS 5146863 5146863 408102 DEFERRED LEASE INCENTIVE -12676 LEASE LIABILITY 5856281 6251707 X 4217329 168155 210851 379006 3838323 17500 17500 3855823 5240746 771396 771396 4469350 17500 17500 4486850 PART X, LINE 2: THE CLUB IS EXEMPT FROM FEDERAL INCOME TAXES ON MEMBERS' TRANSACTIONS AND OTHER ACTIVITIES RELATED DIRECTLY TO ITS NONPROFIT PURPOSES UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE. FEDERAL INCOME TAXES ARE CALCULATED ON UNRELATED BUSINESS INCOME. FASB ASC 740, INCOME TAXES, PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN. THE CLUB'S MANAGEMENT HAS EVALUATED THE IMPACT OF THIS GUIDANCE TO ITS FINANCIAL STATEMENTS AND CONCLUDED THAT THE CLUB HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAX TOPIC OF THE FASB ASC. THE CLUB'S INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES, GENERALLY FOR A PERIOD OF THREE YEARS FROM THE DATE THEY WERE FILED. THE CLUB'S POLICY IS TO CLASSIFY INCOME TAX RELATED INTEREST AND PENALTIES IN INTEREST EXPENSES AND OTHER EXPENSES, RESPECTIVELY. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 769,776. ACCRUED INTEREST 1,620. PRIOR PERIOD ADJUSTMENT -560,545. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 769,776. ACCRUED INTEREST 1,620. 1 X X X X X X 0 0 0 FORM 990, PART III, LINE 3 MEMBER INVESTMENT PROGRAM RELATED TO THE DUES STRUCTURE. FORM 990, PART VI, SECTION A, LINE 6 CHARLOTTE CITY CLUB, INC. IS ORGANIZED AS A NON-PROFIT CORPORATION WITH MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A RESIDENT, EXECUTIVE RESIDENT, AND SENIOR MEMBERS ALL HAVE VOTING RIGHTS. A BALLOT IS SENT TO EACH OF THESE THREE CATEGORIES LISTING THE MEMBERS NOMINATED FOR THE BOARD. BALLOTS ARE COUNTED AND THE NEWLY ELECTED BOARD MEMBERS ARE ANNOUNCED AT THE ANNUAL MEMBERSHIP MEETING. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD CONSISTS OF 15 ELECTED RESIDENT OR EXECUTIVE MEMBERS. THEIR POWERS WITH A QUORUM OF 8 GOVERNORS SHALL INCLUDE TO MAKE OR AMEND BYLAWS, RULES AND REGULATIONS, RECEIVE AND REDRESS COMPLAINTS, AND TO CARE FOR AND AUTHORIZE THE EXPENDITURES OF THE FUNDS OF THE CLUB. THE BOARD ALSO HAS ABILITY TO FIX AND ENFORCE OR REMIT PENALTIES FOR VIOLATIONS OF BYLAWS, RULES AND REGULATIONS, AND TO BIND THE CLUB IN LEASES OR OTHER CONTRACTS. THE BOARD CAN ELECT MEMBERS AND OFFICERS OF THE CLUB AND PERFORM ACTS THAT ARE CONSISTENT WITH THE CHARTER AND BYLAWS AS NECESSARY FOR THE WELFARE OF THE CLUB. INCLUDING BUT NOT LIMITED TO, FILLING VACANCIES ON THE BOARD FOR UNEXPIRED TERMS AND AUTHORIZING THE PURCHASE OF INSURANCE ON BEHALF OF THE CLUB. FORM 990, PART VI, SECTION B, LINE 11B THE TREASURER AND THE FINANCE COMMITTEE REVIEW A DRAFT TAX RETURN. AFTER THEIR APPROVAL, A COPY IS SENT TO EACH BOARD MEMBER. AT THE NEXT REGULAR BOARD MEETING THE TREASURER DISCUSSES THE 990 AND ASKS FOR QUESTIONS. AFTER QUESTIONS ARE RESOLVED THE 990 IS SIGNED AND FILED WITH THE INTERNAL REVENUE SERVICE. THE SAME PROCEDURE IS USED FOR THE 990T AND THE STATE RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE FINANCE COMMITTEE REVIEWS THE CONFLICT OF INTEREST POLICY ANNUALLY. EACH NEW MEMBER OF THE BOARD OF GOVERNORS MUST READ AND SIGN THE POLICY, AND ANNUALLY THEREAFTER. IN THE EVENT OF SUCH CONFLICT, INTERESTED PARTIES ARE REQUIRED TO GIVE NOTICE OF ANY CONFLICT THAT ARISES DURING HIS/HER TERM. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE IS ALSO THE COMPENSATION COMMITTEE. THE COMMITTEE IS MADE UP OF THE OFFICERS OF THE CLUB AND THE EX-OFFICIO. THE COMMITTEE HAS THE POWER TO APPOINT THE GENERAL MANAGER, TO SET THEIR COMPENSATION AND PERFORM REVIEWS. REVIEWS MAY LEAD TO INCREASES IN COMPENSATION BUT INCREASES ARE NOT GUARANTEED. RESEARCH IS PREPARED FROM DIFFERENT SOURCES SUCH AS THE CLUB MANAGER ASSOCIATION OF AMERICA AND FROM RETRIEVING ANNUAL COMPENSATION FOR GENERAL MANAGERS OF EXEMPT PRIVATE CLUBS FROM OTHER CLUB'S FORMS 990. FORM 990, PART VI, SECTION C, LINE 18 THE CLUB MAKES ITS GOVERNING DOCUMENTS AVAILABLE ON THE CLUB'S WEBSITE AND UPON REQUEST. THE CLUB'S CONFLICT OF INTEREST POLICY IS AVAILABLE FOR INSPECTION AT THE CLUB. THE FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND FOR INSPECTION AT THE CLUB. ALL MEMBERS WHO ATTEND THE ANNUAL MEMBERSHIP MEETING ARE OFFERED A COPY OF THE AUDITED FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION C, LINE 19 THE CLUB MAKES ITS GOVERNING DOCUMENTS AVAILABLE ON THE CLUB'S WEBSITE AND UPON REQUEST. THE CLUB'S CONFLICT OF INTEREST POLICY IS AVAILABLE FOR INSPECTION AT THE CLUB. THE FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND FOR INSPECTION AT THE CLUB. ALL MEMBERS WHO ATTEND THE ANNUAL MEMBERSHIP MEETING ARE OFFERED A COPY OF THE AUDITED FINANCIAL STATEMENTS.