2015-08-11T15:06:32-05:00 2014-09-30 591753337 KERKERING BARBERIO & CO PO BOX 49348 SARASOTA FL 342306348 990 2013-10-01 590436199 SARASOTA YACHT CLUB SARA 9419529451 1100 JOHN RINGLING CAUSEWAY SARASOTA FL 34236 HUGH MCILREVEY TREASURER 9413654191 2015-08-06 1 REBECCA U STONER P00585910 9413654617 2013 2016-02-25 16:41:14Z HUGH MCILREVEY 1100 JOHN RINGLING CAUSEWAY SARASOTA FL 34236 7240748 0 X WWW.SARASOTAYACHTCLUB.ORG X 1926 FL RECREATIONAL ACTIVITIES 15 15 125 125 467448 -315 0 0 3664707 4295541 240 -13689 1487506 1742696 5152453 6024548 0 0 0 0 2268847 2491030 0 0 0 2873362 3238776 5142209 5729806 10244 294742 15995364 15771786 15536544 15389062 458820 382724 X THE SARASOTA YACHT CLUB IS A PRIVATE CLUB THAT EXISTS FOR THE BENEFIT AND ENJOYMENT OF ITS MEMBERS. IT SHALL PROVIDE ITS MEMBERS WITH A WELL-ROUNDED BOATING PROGRAM AND A FIRST CLASS MARINA. IT SHALL OFFER MEMBERS AND THEIR GUESTS EXCELLENT DINING AND PERSONALIZED SERVICE IN AN ATTRACTIVE, WELL-MAINTAINED FACILITY. THE CLUB SHALL OFFER A WIDE RANGE OF SOCIAL ACTIVITIES AND SHALL FOSTER WARM AND FRIENDLY RELATIONSHIPS AMONG ITS MEMBERS. IT SHALL BE A GOOD CITIZEN AND A POSITIVE INFLUENCE IN THE COMMUNITY. THE CLUB SHALL BE OPERATED ON A FISCALLY RESPONSIBLE BASIS. 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 29 0 1 125 1 1 1 0 0 0 0 1640753 791018 0 X 15 15 0 0 0 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 BOB DONNELLAN DIRECTOR 2.00 X 0 0 0 JOHN HERMANSEN DIRECTOR 2.00 X 0 0 0 MARK MILLER DIRECTOR 2.00 X 0 0 0 RICHARD MCCAFFERY DIRECTOR 2.00 X 0 0 0 RUTH HARSHMAN DIRECTOR 2.00 X 0 0 0 JANE HUTCHINS DIRECTOR 2.00 X 0 0 0 BARRY MCCLURE DIRECTOR 2.00 X 0 0 0 KEN D'AGOSTINO DIRECTOR 2.00 X 0 0 0 BOBBY OVERALL VICE COMMODORE 2.00 X X 0 0 0 CINDY STELTER SECRETARY 2.00 X X 0 0 0 PETE KUJAWSKI COMMODORE 2.00 X X 0 0 0 ALEX LANCASTER REAR COMMODORE 2.00 X X 0 0 0 RICHARD GRAVINO TREASURER 2.00 X X 0 0 0 MICHAEL BORKA CHIEF FINANCIAL OFFICER 40.00 X 83753 0 28289 BERNIE KLOPPENBURG GM/COO 40.00 X 170577 0 35087 254330 0 63376 1 0 1 0 0 MEMBER DUES AND INITIATION FEES 713990 3606348 3606348 MARINA REVENUE 713990 641911 641911 SAILING PROGRAM 713990 47282 26977 20305 4295541 114 114 13803 -13803 -13803 -13803 2804492 1202397 1602095 1172577 429518 MINIMUM INCOME 713990 76130 76130 MISCELLANEOUS REVENUE 713990 46960 46960 ADVERTISING 713990 17511 17511 140601 6024548 5570903 467448 -13803 291703 1697963 36308 226453 238603 810 37564 119959 43815 45350 42436 244535 524554 902004 195144 SUPPLIES 306321 TAXES AND LICENSES 250725 REPAIRS AND MAINTENANCE 156300 SUBMERGED LAND LEASE 45418 323841 5729806 3140 522688 561070 446607 568794 607281 138259 179921 152040 130575 18447359 4639418 14488698 13807941 65038 58448 18325 18325 15995364 15771786 682671 691559 404948 517139 14367837 13688552 81088 491812 15536544 15389062 X 458820 382724 458820 382724 15995364 15771786 X 294742 -370838 X X 0 1 X 1 0 137338 137338 13338355 1572983 11765372 2241610 1310224 931386 2730056 1756211 973845 13807941 DEPOSITS 109854 CAPITAL LEASE PAYABLE 11120 INTEREST RATE SWAP AGREEMENT 370838 491812 X 7240748 1216200 1216200 6024548 0 6024548 6946006 1216200 1216200 5729806 0 5729806 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 1,202,397. LOSS ON SALE OF FIXED ASSETS INCLUDED IN EXPENSE PER FS 13,803. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS INCLUDED IN REVENUE PER 990 1,202,397. LOSS ON SALE OF FIXED ASSETS INCLUDED IN REVENUE PER 990 13,803. X X X X 0 0 0 BERNIE KLOPPENBURG GM/COO 123552 0 47025 0 0 0 3682 0 31405 0 205664 0 0 0 FORM 990, PART I, LINE 6 THE CLUB UTILIZES THE SERVICES OF 125 VOLUNTEERS IN A VARIETY OF WAYS. THE 17 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 V, LINE 2A SINCE ALL EMPLOYEES WERE LEASED IN 2013, FORM W-3 WAS NOT REQUIRED TO BE FILED BY THE CLUB. THE TOTAL ON LINE 2A REPRESENTS THE NUMBER OF "LEASED" EMPLOYEES WHO WORKED AT THE CLUB DURING THE CALENDAR YEAR 2013. 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 CONTROLLER, TREASURER AND GENERAL MANAGER, 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 GENERAL MANAGER 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 -370,838. FORM 990, PART XII, LINE 2C THE AUDIT REVIEW PROCESS HAS CHANGED DUE TO THE IMPLEMENTATION OF AN AUDIT COMMITTEE.