2017-07-31T15:10:09-05:00 2016-09-30 420714325 RSM US LLP 1555 PALM BEACH LAKES BLVD SUITE 700 WEST PALM BEACH FL 33401 990 2015-10-01 592718435 THE BROKEN SOUND CLUB INC BROK 5612416830 2401 WILLOW SPRINGS DRIVE BOCA RATON FL 33496 ERIC BERSHAD PRESIDENT 5612416830 2017-07-31 1 FRANK LUCAS P00995244 5616971785 2015 2021-01-29 14:40:06Z JOHN CREAN 2401 WILLOW SPRINGS DRIVE BOCA RATON FL 33496 32093307 0 X N/A X 1986 FL TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION. 14 14 608 14 1104907 0 0 0 25561189 26273121 -246631 -939702 3262309 3010955 28576867 28344374 0 0 0 0 17900310 18425348 0 0 0 17147330 15822612 35047640 34247960 -6470773 -5903586 66283997 61845820 33110254 28714009 33173743 33131811 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 50,151 OF WHICH 1,591 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 $5,226,138 OF WHICH $1,175,031 WAS NONMEMBER. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 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 1 192 0 1 608 1 1 1 0 0 0 1 1 0 1595771 0 X 14 14 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 NATE METZGER PRESIDENT 1.00 X X 0 0 0 ERIC BERSHAD FIRST VICE PRES 1.00 X X 0 0 0 CHUCK BENJAMIN TREASURER 1.00 X X 0 0 0 LEE EDELSTEIN SECOND VICE PRES 1.00 X X 0 0 0 EILEEN SANDS SECRETARY 1.00 X X 0 0 0 KAREN BILSKY GOVERNOR 1.00 X 0 0 0 ALAN BRUMEL GOVERNOR 1.00 X 0 0 0 PAUL GARBER GOVERNOR 1.00 X 0 0 0 CHARLES HADDAD GOVERNOR 1.00 X 0 0 0 LARRY KOBREN GOVERNOR 1.00 X 0 0 0 STAN LIEBERMAN GOVERNOR 1.00 X 0 0 0 STEVE LIEDMAN GOVERNOR 1.00 X 0 0 0 DON SCHAEVITZ GOVERNOR 1.00 X 0 0 0 JOHN CREAN GM 40.00 X 645640 0 49701 DIANNE L HART DIRECTOR OF FINANCE 40.00 X 156443 0 8701 CATHY GRANA ASST GM 40.00 X 237922 0 30124 EDWARD CICHIELO CLUBHOUSE MANAGER 40.00 X 194030 0 21349 GREGORY WHEATON DIRECTOR OF TENNIS 40.00 X 195282 0 13389 CAROL BOETTCHER DIRECTOR OF HUMAN RESOURCES 40.00 X 134664 0 7122 SCOTT FELLER DIRECTOR OF GOLF MAIN CLUB 40.00 X 156961 0 24172 JOSEPH LONGO JR CHEF 40.00 X 162301 0 24210 SHANNON EASTER DIRECTOR OF GOLF MAINTENAN 40.00 X 183262 0 24438 2066505 0 203206 9 0 1 0 COMMERCIAL ENERGY SPECIALISTS 952 JUPITER PARK LN 1 JUPITER FL 33458 SWIMMING POOL CONTRACTOR 187501 PEACOCK AND LEWIS 11770 US HIGHWAY ONE 402 N PALM BEACH FL 33408 ARCHITECT/INTERIOR DESIGN 154863 MAG REAL ESTATE & DEVELOPMENT INC 1181 S ROGERS CIR 28 BOCA RATON FL 33487 CONSTRUCTION COMPANY 152298 EDWARD DON & COMPANY INC 11500 MIRAMAR PKWY 600 MIRAMAR FL 33025 RESTAURANT SUPPLY 113470 WELLS FARGO ADVISORS 7301 WILES RD 205 CORAL SPRINGS FL 33067 FINANCIAL CONSULTANTS 110011 5 MEMBERSHIP DUES & ASSESSMENTS 713910 21457296 21457296 GOLF OPERATIONS 713910 2842847 2492332 350515 FITNESS/AQUATIC 713910 1582527 1582527 TENNIS 713910 251781 195056 56725 JUNIOR SPORTS ACADEMY 713910 138670 138670 26273121 13500 13500 0 3725 943427 -939702 -939702 -939702 5385556 2792006 2593550 1895883 697667 OTHER INCOME 713910 417405 417405 417405 28344374 28179169 1104907 -939702 X 15599359 2825989 713254 4040619 658115 CLUBHOUSE AND MEMBERSHI 2015310 GOLF 1958712 GENERAL AND ADMINISTRAT 1198257 FOOD & BEVERAGE 1031221 4207124 34247960 6035324 4562130 4207526 4607905 437975 515867 746840 591777 95935406 45542378 53873923 50393028 982409 1175113 66283997 61845820 772561 373976 8271981 8801377 24065712 19538656 33110254 28714009 X 33173743 33131811 33173743 33131811 66283997 61845820 X -5903586 5861654 X X 0 1 X 1 0 26783020 26783020 52645862 34976104 17669758 15904304 10566274 5338030 602220 602220 50393028 PAYROLL AND RELATED EXPENSES 586627 REAL ESTATE & PROPERTY TAX 472309 INTEREST RATE SWAP AGREEMENT 959759 OTHER ACCRUED EXPENSES 347062 LONG TERM DEBT 16087024 DEPOSIT ON SALE OF LAND 1085875 19538656 31149880 0 31149880 -2805506 -2805506 28344374 37053466 2805506 2805506 34247960 0 34247960 PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -2,792,006. RENTAL EXPENSE -13,500. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD RENTAL EXPENSE 13,500. X 1 1 X X X X 0 0 0 JOHN CREAN GM 419637 0 140313 0 85690 0 27125 0 22576 0 695341 0 0 0 DIANNE L HART DIRECTOR OF FINANCE 115761 0 26678 0 14004 0 1579 0 7122 0 165144 0 0 0 CATHY GRANA ASST GM 149862 0 46833 0 41227 0 15382 0 14742 0 268046 0 0 0 EDWARD CICHIELO CLUBHOUSE MANAGER 160119 0 33310 0 601 0 0 0 21349 0 215379 0 0 0 GREGORY WHEATON DIRECTOR OF TENNIS 182491 0 12384 0 407 0 0 0 13389 0 208671 0 0 0 SCOTT FELLER DIRECTOR OF GOLF MAIN CLUB 110869 0 21592 0 24500 0 1596 0 22576 0 181133 0 0 0 JOSEPH LONGO JR CHEF 126964 0 28042 0 7295 0 1634 0 22576 0 186511 0 0 0 SHANNON EASTER DIRECTOR OF GOLF MAINTENAN 151398 0 15446 0 16418 0 1862 0 22576 0 207700 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 11 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 FOR FUTHER REVIEW AND THE BOARD OF GOVENORS 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 1,026,409. PROPERTY TAXES 619,861. FITNESS/AQUATICS 513,386. HUMAN RESOURCES 499,638. ENGINEERING 432,538. LANDSCAPING 408,989. LEGAL 207,410. TENNIS 191,493. HOUSEKEEPING 158,368. INTEREST RATE SWAP AGREEMENT 74,568. JUNIOR SPORTS ACADEMY 73,434. CLUB PROPERTIES 1,030. FORM 990, PART XI, LINE 9: OLD COURSE CAPITAL ASSESSMENT 883,052. CAPITAL ASSESSMENT 27,300. MEMBERSHIP CONTRIBUTIONS 4,843,680. MEMBERSHIP CERTIFICATES REDEEMED -2,161,701. CAPITAL REPLACEMENT CONTRIBUTIONS 1,171,659. MASTER PLAN ASSESSMENTS 1,097,664. FIRN 990, PART XII, LINE 2C: NO CHANGE FROM PRIOR YEAR