2025-04-30T14:07:29-05:00 2024-07-31 592840381 PHILLIPS FELDMAN GROUP 801 LAUREL OAK DRIVE SUITE 303 NAPLES FL 341082764 990 2023-08-01 590876282 THE PORT ROYAL CLUB INC PORT 2392617615 2900 GORDON DRIVE NAPLES FL 34102 MICHAEL CHAFFEE CHIEF FINANCIAL OFFICER 2392617615 2025-04-30 1 0 NATHAN A PHILLIPS CPA P00189856 2395661600 2023 2025-03-06 01:10:19Z MICHAEL CHAFFEE 2900 GORDON DRIVE NAPLES FL 34102 82482934 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. 12 12 84 30 943707 1589113 0 0 9014943 7129372 -11864305 695108 34684649 27721150 31835287 35545630 0 0 0 0 3894772 3940369 0 0 0 8756990 6185830 12651762 10126199 19183525 25419431 74410136 104894321 9023523 12946854 65386613 91947467 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. 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 0 0 0 0 0 0 0 0 0 0 0 1 76 0 1 84 1 1 1 0 0 0 1 1 27351579 128065 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 MIKE CHAFFEE CFO 2392617615 2900 GORDON DRIVE NAPLES FL 34102 NANCY CARLSON PRESIDENT / EXECUTIVE COMMITTEE CHAIR 15.00 X X 0 0 0 ROBERT KOHLHEPP 1ST VICE PRESIDENT / LONG RANGE PLANNING COMMITTEE 10.00 X X 0 0 0 JULIE KUKK 2ND VICE PRESIDENT / COMMUNICATION COMMITTEE CHAIR 10.00 X X 0 0 0 TOM REUSCHE TREASURER / FINANCE COMMITTEE CHAIR 15.00 X X 0 0 0 FRANK HALLINAN SECRETARY 5.00 X 0 0 0 JILL MILLER COMPENSATION COMMITTEE CHAIR 10.00 X 0 0 0 CAROLE GAUNT EDUCATION COMMITTEE CHAIR 5.00 X 0 0 0 SUE MCVICKERS HOUSE / ENTERTAINMENT COMMITTEE CHAIR 5.00 X 0 0 0 JAY WEISS SPORTS COMMITTEE CO CHAIR 5.00 X 0 0 0 SARA HAYES HOUSE COMMITTEE CHAIR 5.00 X 0 0 0 HENRY SAAD GOVERNANCE COMMITTEE CHAIR 5.00 X 0 0 0 PAUL COULOMBE BUILDING AND GROUNDS COMMITTEE CHAIR 10.00 X 0 0 0 JEFFREY HARTIGAN CHIEF OPERATING OFFICER 40.00 X 732829 0 11383 DAVID DANIOT EXECUTIVE CHEF 40.00 X 215984 0 12889 JAMES MILLET ASSISTANT GENERAL MANAGER 40.00 X 153058 0 10832 KATHLEEN HOEFT FITNESS DIRECTOR 40.00 X 165147 0 11222 LOUIS VOSLOO TENNIS DIRECTOR 40.00 X 236214 0 11060 FRANCO MATA TENNIS PRO 40.00 X 140771 0 12071 BETHANY BOHALL CONTROLLER 40.00 X 120602 0 10011 MONZUR RAHMAN SERVICES F&B MANAGER 40.00 X 115480 0 10695 LILLA OSTERLOH TENNIS PRO 40.00 X 108528 0 8425 EVELYN GOMEZ DIRECTOR OF HR 40.00 X 106669 0 10336 CHARLES ACUNA PERSONAL TRAINER 40.00 X 100491 0 5391 KAREN NACCARATO FORMER CHIEF FINANCIAL OFF 40.00 X 242696 0 12596 2438469 0 126911 12 1 1 0 HART HOWERTON 10 EAST 40TH STREET NEW YORK NY 10016 ARCHITECTS DESIGN 1311675 LONG LAW PA 1306 SE 46TH LANE CAPE CORAL FL 33904 LEGAL SERVICES 541418 DCH HOSPITALITY 931 VILLAGE BLVD 409 WEST PALM FL 33409 EQUIPMENT RENTAL 465530 CHAMPALIMAUD DESIGN 115 BROADWAY 2 NEW YORK NY 10006 PROJECT DECOR 285215 LOCKTON COMPANIES PO BOX 802707 KANSAS CITY MO 64180 INSURANCE 277660 5 MEMBERSHIP DUES AND FEES 900099 7127947 7127947 GUEST FEES 900099 1425 1425 7129372 1769001 1769001 44084472 45022613 135752 -938141 -135752 -1073893 -135752 -938141 452642 1778939 -1326297 -1314947 -11350 CAPITAL SPECIAL ASSESSMENT 900099 21879079 21879079 0 INITIATION FEES 900099 5472500 5410000 62500 FITNESS SPORTS INCOME AND OTHER 900099 1611694 1600845 10849 84174 34751 49423 29047447 35545630 34601923 943707 0 X 1128210 2177960 379248 254951 172615 32244 218559 846694 341947 TEMPORARY FACILITIES 1254217 ADMIN/GENERAL 875536 SPORTS 731884 ENTERTAINMENT 681901 1030233 10126199 7532566 51774773 229312 41098 127188 93184 709420 780626 10755627 5483002 5475782 5272625 39273006 26454946 21062862 20477069 74410136 104894321 1667520 3894015 5102207 6772307 2253796 2280532 9023523 12946854 X 65386613 91947467 65386613 91947467 74410136 104894321 25419431 1141423 0 X 0 1 X 1 0 178582 178582 7711806 3962684 3749122 2865239 1520318 1344921 5272625 BOARD DESIGNATED T-BILLS / EXCHANGE FUNDS 26454946 F 26454946 CONSTRUCTION-IN-PROGRESS 8208780 DEPOSITS AND OTHER ASSETS 779794 INSURANCE PROCEEDS RECEIVABLE - CURRENT 11146366 RIGHT-OF-USE ASSETS, NET - FINANCE LEASES 179352 INTEREST RECEIVABLE 162777 20477069 REFUNDABLE CAPITAL ASSESSMENTS 345000 RESIDENT 25% HOLDING DEPOSITS 1301250 FINANCE LEASE LIABILITIES 194517 DEFERRED COMPENSATION PLAN AND EDUCATION FUND 439765 2280532 X 38601743 1141423 1914691 3056114 35545629 0 35545629 12040889 1914691 1914691 10126198 0 10126198 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 1,778,939. LOSS ON DISPOSAL OF ASSETS 135,752. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 135,752. LOSS ON DISPOSAL OF ASSETS 1,778,939. X X X 0 1 0 JEFFREY HARTIGAN CHIEF OPERATING OFFICER 535329 0 175000 0 22500 0 6200 0 5183 0 744212 0 0 0 KAREN NACCARATO FORMER CHIEF FINANCIAL OFF 207696 0 5000 0 30000 0 8082 0 4514 0 255292 0 0 0 LOUIS VOSLOO TENNIS DIRECTOR 215166 0 15000 0 6048 0 5034 0 6026 0 247274 0 0 0 DAVID DANIOT EXECUTIVE CHEF 187685 0 17500 0 10799 0 8639 0 4250 0 228873 0 0 0 KATHLEEN HOEFT FITNESS DIRECTOR 131636 0 5000 0 28511 0 6708 0 4514 0 176369 0 0 0 JAMES MILLET ASSISTANT GENERAL MANAGER 137001 0 5000 0 11057 0 6318 0 4514 0 163890 0 0 0 FRANCO MATA TENNIS PRO 127462 0 0 0 13309 0 5915 0 6156 0 152842 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 FORM 990, PART VI, SECTION A, LINE 4 THE CLUB MADE CHANGES TO THE BY LAWS: BOARD SHALL ESTABLISH AMOUNTS REQUIRED FOR JOINING PAYMENTS AND ANNUAL DUES. CAP MEMBERSHIP AT 700, CONVERSION OF ASSOCIATE MEMBERSHIP LOTS TO RESIDENT MEMBERSHIP LOTS. ADDITION OF ELECTRONIC VOTING. ADDED ELECTRONIC APPROVAL OF ASSESSMENT, FUNDS FOR SPECIAL ASSESSMENT DEPOSITED INTO RESTRICTED CAPITAL ACCOUNT AND BOARD ABILITY TO LEVY ASSESSMENT TO COVER ANY PRINCIPAL OR INTEREST PAYMENTS FOR ON DEBT INCURRED DUE TO INSUFFICIENT FUNDS IN OPERATING OR CAPITAL ACCOUNTS. UPON DISSOLUTION/FINAL LIQUIDATION OF CLUB, PROPERTY AND ASSETS OF CLUB AFTER DEBTS DISTRIBUTED AMONG MEMBER IN PROPORTION TO JOINING PAYMENT. CHANGED THE DESCRIPTION OF THE AMOUNT REQUIRED TO BE PAID TO ACQUIRE MEMBERSHIP AND THE CORRESPONDING EQUITY OWNERSHIP INTEREST IN THE CLUB FROM INITIATION FEES TO JOINING PAYMENTS. IN ADDITION, THE CLUB WILL MAINTAIN 2 CAPITAL ACCOUNTS (UNRESTRICTED AND RESTRICTED) TO HOLD ALL JOINING PAYMENTS. UNRESTRICTED USAGE MUST BE APPROVED BY THE BOARD OF DIRECTORS, RESTRICTED USED ONLY FOR CAPITAL PURCHASES. 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 CLUBHOUSE 302,322. GROUNDS 277,837. MEMBERSHIP ACTIVITIES 155,254. FOOD/BEVERAGE 130,030. HURRICANE IAN EXPENSES 89,890. PERSONAL PROPERTY AND REAL ESTATE TAXES 74,900.