2019-08-05T09:11:30-05:00 2018-09-30 420714325 RSM US LLP 1555 PALM BEACH LAKES BLVD SUITE 700 WEST PALM BEACH FL 33401 990 2017-10-01 592718435 THE BROKEN SOUND CLUB INC BROK 5612416830 2401 WILLOW SPRINGS DRIVE BOCA RATON FL 33496 LARRY DAVIDSON TREASURER 5612416830 2019-08-05 1 CHRISTOPHER CECIL P01877773 5616971785 108.171.131.188 2019-08-05 10:11:22 ED P 6382FED9715D8131D2847893377072FBD4F5B5DD 4C1CA6CF951B9AFBB475C80B6A1091FE6A0EBE72 2017 2019-02-21 02:37:17Z JOHN CREAN 2401 WILLOW SPRINGS DRIVE BOCA RATON FL 33496 36279213 0 X N/A X 1986 FL TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION. 11 11 625 11 1233491 0 0 0 27556222 28556142 215544 21731 3568599 4719430 31340365 33297303 0 0 0 0 19450202 20094950 0 0 0 16593341 18067072 36043543 38162022 -4703178 -4864719 63858160 64885969 30055280 30857005 33802880 34028964 BROKEN SOUND COUNTRY CLUB IS A SOCIAL CLUB WHOSE EXEMPT PURPOSE IS TO PROMOTE SOCIAL INTERACTION OF CLUB MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES. 0 0 THE CLUB MAINTAINS AND OPERATES TWO 18 HOLE GOLF COURSES. ROUNDS PLAYED DURING THE YEAR WERE APPROXIMATELY 50,839 OF WHICH 993 WERE NONMEMBER RELATED. THE CLUB MAINTAINS DINING FACILITIES FOR THE BENEFIT OF ITS MEMBERS AND THEIR GUESTS. TOTAL FOOD AND BEVERAGE SALES FOR THE YEAR WAS $5,926,624 OF WHICH $1,187,432 WAS NONMEMBER. 0 0 0 0 0 0 0 0 0 1 0 0 0 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 1 625 1 1 1 0 0 0 1 1 119113 1698253 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X DIANNE HART 5612416830 2401 WILLOW SPRINGS DRIVE BOCA RATON FL 33429 ERIC BERSHAD PRESIDENT 1.00 X X 0 0 0 LARRY KOBREN FIRST VICE PRES 1.00 X X 0 0 0 STEVE LIEDMAN TREASURER 1.00 X X 0 0 0 PAUL GARBER SECOND VICE PRES 1.00 X X 0 0 0 ALAN BRUMEL SECRETARY 1.00 X X 0 0 0 BURT BINES GOVERNOR 1.00 X 0 0 0 WILLIAM LUCAS GOVERNOR 1.00 X 0 0 0 RALPH SALTZ GOVERNOR 1.00 X 0 0 0 STAN LIEBERMAN GOVERNOR 1.00 X 0 0 0 MICHAEL MENDELSOHN GOVERNOR 1.00 X 0 0 0 MIKE GENICK GOVERNOR 1.00 X 0 0 0 JOHN CREAN GM 40.00 X 695809 0 119283 DIANNE L HART DIRECTOR OF FINANCE 40.00 X 170617 0 11513 CATHY GRANA ASST GM 40.00 X 251108 0 55318 EDWARD CICHIELO CLUBHOUSE MANAGER 40.00 X 196597 0 31058 GREGORY WHEATON DIRECTOR OF TENNIS 40.00 X 219210 0 18425 CAROL BOETTCHER DIRECTOR OF HUMAN RESOURCE 40.00 X 151480 0 9791 SCOTT FELLER DIRECTOR OF GOLF MAIN CLUB 40.00 X 146326 0 32611 JOSEPH LONGO JR CHEF 40.00 X 168291 0 32851 SHANNON EASTER DIRECTOR OF GOLF MAINTENAN 40.00 X 202124 0 33161 2201562 0 344011 9 0 1 0 MOSKOWITZ MANDELL SALIM & SIMOWITZ 800 CORPORATE DR STE 500 FORT LAUDERDALE FL 33334 LEGAL COUNSEL 800810 CASUAL CAR SERVICE 1475 NE 4TH STREET BOCA RATON FL 33432 VALET SERVICE 709133 PEACOCK AND LEWIS 1295 US HIGHWAY 1 NORTH PALM BEAC FL 33408 LEGAL COUNSEL 351065 AKERMAN LLP 1875 NW CORPORATE BLVD STE 275 BOCA RATON FL 33431 LEGAL COUNSEL 121789 WELLS FARGO ADVISORS 5355 TOWN CENTER RD STE 600 BOCA RATON FL 33486 FINANCIAL SERVICES 113388 5 MEMBERSHIP DUES & ASSESSMENTS 713910 23474953 23474953 GOLF OPERATIONS 713910 2845402 2490761 354641 FITNESS/AQUATIC 713910 1760868 1760868 TENNIS 713910 321546 203407 118139 JUNIOR SPORTS ACADEMY 713910 153373 153373 28556142 13500 7956 5544 5544 5544 21731 0 21731 21731 21731 6080601 2973954 3106647 2376021 730626 HURRICANE INSURANCE PROCEEDS 713910 612062 612062 INTEREST RATE SWAP AGREEMENT 713910 604977 604977 OTHER INCOME 713910 390200 365659 24541 1607239 33297303 31430019 1233491 633793 X 16923552 3171398 702863 3808649 662867 CLUBHOUSE AND MEMBERSHI 2249145 GOLF 2223500 GENERAL AND ADMINISTRAT 1349218 FOOD & BEVERAGE 1183732 5887098 38162022 4251084 5223324 4500649 5047372 572413 625898 865047 771469 98524349 46869586 52507787 51654763 1161180 1563143 63858160 64885969 668746 898954 9117178 9588415 20269356 20369636 30055280 30857005 X 33802880 34028964 33802880 34028964 63858160 64885969 X -4864719 5090803 X X 0 1 X 1 0 30955215 30955215 53238895 38014827 15224068 12400887 8854759 3546128 1929352 1929352 51654763 PAYROLL AND RELATED EXPENSES 675881 REAL ESTATE & PROPERTY TAX 505774 OTHER ACCRUED EXPENSES 244424 LONG TERM DEBT 17593692 DEFERRED COMPENSATION PLAN LIABILITY 1349865 20369636 X 36279213 0 36279213 -2981910 -2981910 33297303 41143932 2981910 2981910 38162022 0 38162022 PART X, LINE 2: THE CLUB HAS EVALUATED ITS TAX POSITIONS 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 FINANCIAL ACCOUNTING STANDARDS BOARD'S GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -2,973,954. RENTAL EXPENSE -7,956. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 2,973,954. RENTAL EXPENSE 7,956. X 1 1 X X X 0 0 0 JOHN CREAN GM 552348 0 112800 0 30661 0 88225 0 31058 0 815092 0 0 0 DIANNE L HART DIRECTOR OF FINANCE 125465 0 30148 0 15004 0 1722 0 9791 0 182130 0 0 0 CATHY GRANA ASST GM 197909 0 44083 0 9116 0 35033 0 20285 0 306426 0 0 0 EDWARD CICHIELO CLUBHOUSE MANAGER 161353 0 34643 0 601 0 0 0 31058 0 227655 0 0 0 GREGORY WHEATON DIRECTOR OF TENNIS 196356 0 22447 0 407 0 0 0 18425 0 237635 0 0 0 CAROL BOETTCHER DIRECTOR OF HUMAN RESOURCE 120914 0 30135 0 431 0 0 0 9791 0 161271 0 0 0 SCOTT FELLER DIRECTOR OF GOLF MAIN CLUB 107173 0 14115 0 25038 0 1553 0 31058 0 178937 0 0 0 JOSEPH LONGO JR CHEF 129963 0 30413 0 7915 0 1793 0 31058 0 201142 0 0 0 SHANNON EASTER DIRECTOR OF GOLF MAINTENAN 160779 0 22950 0 18395 0 2103 0 31058 0 235285 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CLUB IS A PRIVATE MEMBER-OWNED CLUB THAT IS OWNED AND OPERATED FOR THE PLEASURE AND RECREATION OF ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE FOLLOWING MEMBERSHIP CATEGORIES HAVE VOTING PRIVILEGES: SOCIAL, GENERAL, MASTER AND OLD COURSE AND CHARTER. SOCIAL MEMBERS RECEIVE 1 VOTE, GENERAL MEMBERS RECEIVE 2 VOTES, MASTER MEMBERS RECEIVE 3 VOTES AND OLD COURSE AND CHARTER MEMBERS RECEIVE 5 VOTES. FORM 990, PART VI, SECTION A, LINE 7B ASSESSMENTS REQUIRE MEMBERSHIP APPROVAL. ASSESSMENTS FOR THE MAIN CLUB COST VOTING AS FOLLOWS: SOCIAL = 1 VOTE, GENERAL = 2 VOTES, MASTER = 3 VOTES, OLD COURSE = 5 VOTES; ASSESSMENTS FOR THE OLD COURSE: OLD AND CHARTER = 1 VOTE. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION DOES NOT BELIEVE IT IS EFFECTIVE NOR EFFICIENT FOR THE ENTIRE GOVERNING BOARD TO REVIEW FORM 990 BEFORE FILING. THUS, THE GOVERNING BOARD DELEGATES THE REVIEW OF FORM 990 AND THE RELATED SCHEDULES TO THE DIRECTOR OF FINANCE AND THE TREASURER. THESE INDIVIDUALS REVIEW FORM 990 WITH ITS OUTSIDE CPA PREPARERS PRIOR TO THE FILING OF THE FORM. FORM 990, PART VI, SECTION B, LINE 12C CONSTANT REVIEW OF ALL TRANSACTIONS ARE CONDUCTED TO SEE IF THERE ARE CONFLICTS OF INTEREST. IF A SUSPECTED CONFLICT OF INTEREST IS IDENTIFIED IT IS REPORTED TO THE GENERAL MANAGER AND THE BOARD OF GOVERNORS. THE BOARD OF GOVENORS MAKES AN INQUIRY TO DETERMINE IF ADDITIONAL QUESTIONING IS NEEDED, FOLLOWED BY A COMPLETE INVESTIGATION BY MANAGEMENT BEFORE THE BOARD MAKES A DETERMINATION AND RESOLUTION TO THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION STUDIES, INDUSTRY STUDIES & EMPLOYMENT CONTRACT AGREEMENTS ARE USED IN DETERMINATION AND DOCUMENT OF COMEPENSATION. THE BOARD OF GOVERNORS PERFORMS THE REVIEW AND ISSUES A WRITTEN CONTRACT OUTLINING COMPENSATION FOR THE GM POSITION. FORM 990, PART VI, SECTION C, LINE 18 THE CLUB PROVIDES COPIES OF FORM 990 AND FORM 1024 UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST, FOR INSPECTION AT THE CLUB, AND ON THE CLUB'S WEBSITE. FORM 990, PART IX, LINE 24E UTILITIES AND ENERGY 1,093,695. LEGAL 1,000,791. PROPERTY TAXES 666,609. HUMAN RESOURCES 643,585. FITNESS/AQUATICS 508,482. LANDSCAPING 501,707. HURRICANE EXPENSES 419,234. ENGINEERING 396,713. TENNIS 252,307. HOUSEKEEPING 185,930. RESERVE FUND PROJECTS 164,317. JUNIOR SPORTS ACADEMY 53,728. FORM 990, PART XI, LINE 9: MEMBERSHIP CONTRIBUTIONS 3,660,818. MEMBERSHIP CERTIFICATES REDEEMED -1,665,627. CAPITAL REPLACEMENT CONTRIBUTIONS 1,992,099. MASTER PLAN ASSESSMENTS 1,103,513. FORM 990, PART XII, LINE 2C: NO CHANGE FROM PRIOR YEAR.