2017-08-03T13:28:31-05:00 2016-09-30 591753337 KERKERING BARBERIO & CO PO BOX 49348 SARASOTA FL 342306348 990 2015-10-01 590436199 SARASOTA YACHT CLUB SARA 9419529451 1100 JOHN RINGLING CAUSEWAY SARASOTA FL 34236 BOB DONNELLAN TREASURER 9413654191 2017-07-27 1 REBECCA U STONER P00585910 9413654617 2015 2021-01-29 14:40:06Z BOB DONNELLAN 1100 JOHN RINGLING CAUSEWAY SARASOTA FL 34236 8029530 0 X WWW.SARASOTAYACHTCLUB.ORG X 1926 FL RECREATIONAL ACTIVITIES 15 15 121 77 419538 0 0 0 4557373 5088556 -2975 -8970 1908176 1782520 6462574 6862106 0 0 0 0 2747114 2944896 0 0 0 3176652 3256711 5923766 6201607 538808 660499 15756090 15995479 15253617 14890808 502473 1104671 IT IS THE MISSION OF THE SARASOTA YACHT CLUB TO RESPONSIBLY MAXIMIZE MEMBER AND STAFF LOYALTY THROUGH MEMORABLE WORLD-CLASS SERVICES AND PRODUCT. 0 0 THE OBJECTIVES OF THE CORPORATION, CONSISTING OF MEMBERS OF SIMILAR INTERESTS, SHALL BE TO ENCOURAGE YACHTING TO ASSIST IN MAKING MEMBERS PROFICIENT IN THE ART OF SEAMANSHIP AND THE SCIENCE OF NAVIGATION; TO PROVIDE ENTERTAINMENT, FOOD, REFRESHMENTS AND DOCKING FACILITIES FOR MEMBERS AND THEIR GUESTS; AND GENERALLY TO HAVE AND EXERCISE ALL THE POWERS, PRIVILEGES AND IMMUNITIES OF CORPORATIONS NOT FOR PROFIT INCORPORATED UNDER THE LAWS OF THE STATE OF FLORIDA. 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 24 0 1 121 1 1 1 0 0 0 0 1857535 708715 0 X 15 15 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 FL X BEN WAGNER 9413654191 1100 JOHN RINGLING CAUSEWAY SARASOTA FL 34236 TIM CLARKE DIRECTOR 2.00 X 0 0 0 PHIL COUTURE DIRECTOR 2.00 X 0 0 0 CHIP GAYLOR DIRECTOR 2.00 X 0 0 0 JOHN HERMANSEN DIRECTOR 2.00 X 0 0 0 RICHARD MCCAFFERY DIRECTOR 2.00 X 0 0 0 BARRY MCCLURE DIRECTOR 2.00 X 0 0 0 LYNN MILLIKIN DIRECTOR 2.00 X 0 0 0 ALICE PETRAT DIRECTOR 2.00 X 0 0 0 SUSAN ROBINSON DIRECTOR 2.00 X 0 0 0 LINDA SEMAAN DIRECTOR 2.00 X 0 0 0 ALEX LANCASTER COMMODORE 2.00 X X 0 0 0 JANE HUTCHINS VICE COMMODORE 2.00 X X 0 0 0 HUGH MCILREVEY REAR COMMODORE 2.00 X X 0 0 0 BOB DONNELLAN TREASURER 2.00 X X 0 0 0 KEN D'AGOSTINO SECRETARY 2.00 X X 0 0 0 BENJAMIN WAGNER CHIEF FINANCIAL OFFICER 40.00 X 127774 0 11982 BERNIE KLOPPENBURG CEO 40.00 X 236230 0 100225 ANTHONY PUCCIO FOOD & BEVERAGE DIRECTOR 40.00 X 146488 0 30136 STEPHANIA FELTZ MEMBER RELATIONS DIRECTOR 40.00 X 105527 0 11303 616019 0 153646 4 0 1 0 FLORIDA SHORELINE & FOUNDATION EXPERTS PO BOX 2291 SARASOTA FL 34230 REDECKING (DOCKS) 121981 1 MEMBER DUES AND INITIATION FEES 713990 4339797 4339797 MARINA REVENUE 713990 726374 726374 SAILING PROGRAM 713990 22385 22385 5088556 8970 -8970 -8970 -8970 2748593 1158454 1590139 1185250 404889 MINIMUM INCOME 713990 78175 78175 WATER SPORTS/ REGATTAS 713990 56664 56664 ADVERTISING 713990 14649 14649 42893 42893 192381 6862106 6451538 419538 -8970 426710 1836025 111028 333928 237205 8540 53549 151276 31856 34711 47272 274343 580892 772681 205908 SUPPLIES 350749 TAXES AND LICENSES 248423 REPAIRS AND MAINTENANCE 157426 SUBMERGED LAND LEASE 46508 292577 6201607 978978 1914746 306678 661767 682830 140176 128899 147959 159332 19068766 6128763 13405234 12940003 49894 41341 65404 128328 15756090 15995479 572837 699541 523852 594670 13254547 12526101 902381 1070496 15253617 14890808 X 502473 1104671 502473 1104671 15756090 15995479 X 660499 -58301 X X 0 1 X 1 0 137338 137338 13536977 2307583 11229394 2508605 1814916 693689 2885846 2006264 879582 12940003 DEPOSITS 107588 CAPITAL LEASE PAYABLE 4707 INTEREST RATE SWAP AGREEMENT 848198 457(F) PLAN PAYABLE 110003 1070496 X 7971229 1109123 1109123 6862106 0 6862106 7369031 1167424 1167424 6201607 0 6201607 PART X, LINE 2: UNDER THE INCOME TAXES TOPIC OF THE FASB ACCOUNTING STANDARDS CODIFICATION, THE CLUB HAS REVIEWED AND EVALUATED THE RELEVANT TECHNICAL MERITS OF EACH OF ITS TAX POSITIONS IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, AND DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS OF THE CLUB. PART XI, LINE 2D - OTHER ADJUSTMENTS: COGS INCLUDED IN EXPENSE PER FS 1,158,454. LOSS ON SALE OF FIXED ASSETS INCLUDED IN EXPENSE PER FS 8,970. ADJUSTMENT FOR INTEREST RATE SWAP -58,301. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS INCLUDED IN REVENUE PER 990 1,158,454. LOSS ON SALE OF FIXED ASSETS INCLUDED IN REVENUE PER 990 8,970. X X X X 0 1 0 BERNIE KLOPPENBURG CEO 202030 0 34200 0 0 0 59449 0 40776 0 336455 0 0 0 ANTHONY PUCCIO FOOD & BEVERAGE DIRECTOR 138088 0 8400 0 0 0 5860 0 24276 0 176624 0 0 0 PART I, LINE 4B BERNHARD KLOPPENBURG- DEFERRED COMPENSATION 457(F)PLAN - $50,000 FORM 990, PART I, LINE 6 THE CLUB UTILIZES THE SERVICES OF 120 VOLUNTEERS IN A VARIETY OF WAYS. THE 15 MEMBERS OF THE BOARD OF DIRECTORS, BOTH THE EXECUTIVE COMMITTEE AND SITTING MEMBERS, ARE CLASSIFIED AS VOLUNTEERS. IN ADDITION TO THE BOARD THERE ARE 17 COMMITTEES WHICH GOVERN ALL ASPECTS OF THE CLUB. ANY MEMBER MAY SIT ON A COMMITTEE AND EACH COMMITTEE IS LED BY A BOARD MEMBER AS THE COMMITTEE CHAIR. ALL COMMITTEE MEMBERS ARE VOLUNTEERS WHO PROVIDE VALUABLE SERVICES TO THE CLUB. CLUB AMBASSADORS ARE MEMBERS WHO VOLUNTARILY CONTRIBUTE THEIR EFFORTS TO ENGAGING NEW MEMBERS AND INTRODUCING THEM TO THE CLUB AND ALL THAT THE CLUB HAS TO OFFER. WITHIN THE CLUB THERE ARE SEVERAL GROUPS WHO MEET AND PARTICIPATE IN A WIDE RANGE OF ACTIVITIES THAT INCLUDE FISHING, CYCLING, KAYAKING, AND MORE. THE MEMBERS WHO ORGANIZE THESE ACTIVITIES WORK WITH THE STAFF TO SECURE FUNDS AND COORDINATE EVENTS, VOLUNTEERING THEIR TIME TO ENRICHING THE SOCIAL ENVIRONMENT OF THE CLUB. FORM 990, PART VI, SECTION A, LINE 4 BYLAW CHANGES ORGANIZATIONAL PURPOSE TO BRING CURRENT THE PURPOSE OF THE CLUB TO INCLUDE THE FOCUS ON SOCIAL MEMBERS BEYOND THE SCOPE OF YACHTING. PRIMARY OFFICER ELIMINATES THE DUAL TITLE RECOGNIZING THAT THE EMPLOYMENT CONTRACT HELD BY THE CURRENT CHIEF OF STAFF IS TITLED THE POSITION CEO AND THAT WITH THE SCOPE OF SYC'S OPERATION THAT ANY FUTURE HIRES WOULD ALSO BE FOR A CEO, NOT A GENERAL MANAGER. RULES ADOPTED BY THE GOVERNING BODY ADDED LANGUAGE TO SPECIFICALLY NAME THE EXECUTIVE POLICY MANUAL, WHICH CONTAINS GOVERNANCE DOCUMENTS SUCH AS THE HOUSE RULES, DOCK RULES, AND OTHER POLICIES WHICH GOVERN THE CLUB, AND ENSURES THE BYLAWS TAKE PRECEDENT. VICE COMMODORE - DESCRIPTION OF DUTIES CLARIFIES THE ROLE OF VICE COMMODORE AND MOVES WORDING REGARDING SUCCESSION FOR ABSENCE OR INCAPACITY TO ARTICLE VIII, SECTION 16. REAR COMMODORE - DESCRIPTION OF DUTIES CLARIFIES THE ROLE OF REAR COMMODORE AND MOVES WORDING REGARDING SUCCESSION FOR ABSENCE OR INCAPACITY TO ARTICLE VIII, SECTION 16. SUCCESSION LANGUAGE TAKES EXISTING LANGUAGE FROM SECTIONS 12-14 AND INCORPORATES SAID LANGUAGE INTO ONE SECTION REGARDING SUCCESSION THAT MAY OCCUR IN THE EVENT OF AN ABSENCE OR INCAPACITY OF ONE OR MORE OFFICERS. SECTION 17 - PARLIAMENTARIAN NEW PROVISION DESIGNATING THE APPOINTMENT OF A PARLIAMENTARIAN. FLEET CAPTAIN CLARIFIES THAT THE POSITION OF FLEET CAPTAIN IS NOT REQUIRED TO BE A VOTING MEMBER OF THE BOARD. FLEET SURGEON CLARIFIES THAT THE POSITION OF FLEET SURGEON IS NOT REQUIRED TO BE A VOTING MEMBER OF THE BOARD. APPOINTMENT OF COMMITTEE MEMBERS CLARIFIES THE DURATION OF APPOINTMENT AND SERVICE OF COMMITTEE MEMBERS. COMMITTEE CHARTERS ADDS A NEW SECTION TO ADDRESS THE REQUIREMENT OF STANDING COMMITTEES TO OPERATE IN ACCORDANCE WITH THEIR CHARTERS. AUDIT COMMITTEE REMOVES REFERENCE TO AN INTERNAL AUDITOR (NONE PRESENTLY EXISTS AND NONE PLANNED) AND REQUIRES AUDITS ON ANY CAPITAL PROJECTS THAT EXCEED $250,000 AND DELETES APPOINTMENT TERMS. GROUND RULES REMOVES PROPOSING GROUND RULES FOR APPROVAL BY THE BOARD. GOVERNANCE COMMITTEE DESIGNATION OF COMMITTEE CHANGES FROM "GOVERNANCE AND LEGAL COMMITTEE" TO "GOVERNANCE COMMITTEE (NO LEGAL RESPONSIBILITIES); CLARIFIES RESPONSIBILITIES OF THE GOVERNANCE COMMITTEE PLANNING COMMITTEE REMOVES REQUIREMENT THAT THE PLAN BE A THREE-TO-FIVE-YEAR PLAN TO ALLOW GREATER FLEXIBILITY; REMOVES RESPONSIBILITY FOR SUBMITTING CHANGES TO GOVERNING DOCUMENTS, AS THAT IS NOW THE RESPONSIBILITY OF THE GOVERNANCE COMMITTEE. STANDING COMMITTEE REPORTS SPECIFIES THAT STANDING COMMITTEES SUBMIT REPORTS IN ACCORDANCE WITH THEIR CHARTERS AND, THEREFORE, REMOVES SUPERFLUOUS/REDUNDANT WORDING. MODIFIES HEADING OF ARTICLE X TO: MEMBERSHIP MEETINGS AND ELECTIONS NOMINATING PROCESS HEADING CHANGED FROM "NOMINATING COMMITTEE" TO "NOMINATING PROCESS" AS THE NOMINATING COMMITTEE WILL NOW BE MERGED WITH THE GOVERNANCE COMMITTEE; CLARIFIES THE PROCESS FOR NOMINATIONS TO THE BOARD. ADDITIONALLY, THIS PROVIDES CHECKS AND BALANCES TO THE ELECTION PROCESS TO PREVENT THE BOARD FROM BLOCKING A QUALIFIED PETITIONING MEMBER FROM RUNNING FOR ELECTION. ELECTION OF DIRECTORS ALLOWS THE BOARD TO DECLARE BY ACCLAMATION THE CANDIDATES ALREADY APPROVED BY THE BOARD IN THE EVENT THAT THE PROPOSED SLATE IS LESS THAN OR EQUAL TO THE NUMBER OF VACANT SEATS. CONDUCT OF OFFICIAL MEETINGS HEADING CHANGED TO BROADEN ITS APPLICABILITY TO ALL OFFICIAL MEETINGS; SPECIFIES THE MEETINGS COVERED UNDER THIS SECTION, AND SPECIFIES THAT ALL SUCH MEETINGS BE CONDUCTED IN ACCORDANCE WITH THE EXECUTIVE MANUAL IN ADDITION TO THE OTHER STATED LEGAL REQUIREMENTS. FORM 990, PART VI, SECTION A, LINE 6 THE CORPORATION IS A PRIVATE YACHT AND SOCIAL CLUB THAT ALLOWS MEMBERS TO USE ITS FACILITIES BY PAYING DUES. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE BOARD OF DIRECTORS ARE ELECTED BY A VOTE OF ACTIVE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B FIFTEEN (15) PERCENT OF THE VOTING MEMBERS ENTITLED TO VOTE MAY PRESENT A PROPOSAL FOR AMENDMENT TO THESE BYLAWS, USING THE FOLLOWING PROCEDURES: A) THE SPECIFIC PROPOSAL SHALL BE DELIVERED TO THE CLUB'S SECRETARY AT LEAST SIXTY (60) DAYS PRIOR TO THE ANNUAL MEETING. B) AT LEAST 30 DAYS PRIOR TO THE MEETING AT WHICH THE PROPOSAL WILL BE CONSIDERED, THE SPECIFIC PROPOSAL SHALL BE POSTED ON THE CLUB'S BULLETIN BOARD AND PROVIDED TO ALL MEMBERS ENTITLED TO VOTE, TOGETHER WITH AN EXPLANATION OF THE PURPOSE OF THE PROPOSED AMENDMENT AND THE BOARD'S STATEMENT ON ITS MERITS. C) THE BALLOT FOR THE VOTE MUST PERMIT THE MEMBER TO VOTE FOR OR AGAINST THE SPECIFIC PROPOSAL. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE CFO, TREASURER AND CEO, COMPARED TO THE AUDITED FINANCIAL STATEMENTS AND INTERNAL REPORTS, THEN PRESENTED TO THE GOVERNING BOARD FOR SUBSEQUENT REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE WRITTEN CONFLICT OF INTEREST POLICY IS GIVEN TO OFFICERS, DIRECTORS AND KEY EMPLOYEES AT THE TIME OF HIRE OR APPOINTMENT. THE OFFICERS, DIRECTORS AND KEY EMPLOYEES ARE REQUESTED TO DISCLOSE ANY POSSIBLE CONFLICTS OF INTEREST AT THAT TIME. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE, WHICH IS MADE UP OF INDEPENDENT MEMBERS ELECTED BY THE MEMBERS, USES COMPARABILITY DATA AND AVAILABLE RESOURCES TO THE CLUB TO DELIBERATE AND DETERMINE COMPENSATION OF THE CEO AND OTHER KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION IS A PRIVATE CLUB AND THEREFORE ONLY MAKES ITS POLICIES AND AUDITED FINANCIAL STATEMENT AVAILABLE TO ITS MEMBERS. POLICIES AND FINANCIAL STATEMENTS ARE PROVIDED TO FINANCIAL INSTITUTIONS, POTENTIAL MEMBERS, AND OTHER PERSONS OR ENTITIES AS THE BOARD OF DIRECTORS SEES FIT. FORM 990, PART XI, LINE 9: ADJUSTMENT FOR INTEREST RATE SWAP -58,301. FORM 990, PART XII, LINE 2C NO CURRENT YEAR CHANGES TO AUDIT OVERSIGHT PROCESS.