2014-08-04T15:26:17-05:00 2013-09-30 591753337 KERKERING BARBERIO & CO PO BOX 49348 SARASOTA FL 342306348 990 2012-10-01 590436199 SARASOTA YACHT CLUB SARA 9419529451 1100 JOHN RINGLING CAUSEWAY SARASOTA FL 34236 DICK GRAVINO 9413654191 2014-08-01 1 REBECCA U STONER P00585910 9413654617 2012 2015-11-30 17:44:51Z DICK GRAVINO 1100 JOHN RINGLING CAUSEWAY SARASOTA FL 34236 6319444 0 X WWW.SARASOTAYACHTCLUB.ORG X 1926 FL RECREATIONAL ACTIVITIES 15 15 146 125 431321 -209 0 0 3469492 3664707 -12375 240 1455780 1487506 4912897 5152453 0 0 0 0 2174311 2268847 0 0 0 2950214 2873362 5124525 5142209 -211628 10244 16401532 15995364 15952956 15536544 448576 458820 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 55 0 1 146 1 1 1 0 0 0 0 1350054 657607 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 DON PAYZANT 2.00 X 0 0 0 WILLA SAALWAECHTER 2.00 X 0 0 0 PAUL OVERSMITH 2.00 X 0 0 0 BOB DONNELLAN 2.00 X 0 0 0 WAYNE SEEL 2.00 X 0 0 0 CINDY STELTER 2.00 X 0 0 0 MARK MILLER 2.00 X 0 0 0 RICHARD MCCAFFERY 2.00 X 0 0 0 RUTH HARSHMAN 2.00 X 0 0 0 KEN D'AGOSTINO 2.00 X 0 0 0 PETE KUJAWSKI 2.00 X X 0 0 0 ALEX LANCASTER 2.00 X X 0 0 0 LEE GOODMAN 2.00 X X 0 0 0 BOBBY OVERALL 2.00 X X 0 0 0 RICHARD GRAVINO 2.00 X X 0 0 0 MICHAEL BORKA 40.00 X 99508 0 42444 BERNIE KLOPPENBURG 40.00 X 171327 0 53389 270835 0 95833 1 0 1 0 0 MEMBER DUES AND INITIATION FEES 713990 3015153 3015153 MARINA REVENUE 713990 599204 563834 35370 SAILING PROGRAM 713990 50350 30450 19900 3664707 262 262 22 -22 -22 -22 2566030 1166969 1399061 1039052 360009 MINIMUM INCOME 713990 64452 64452 ADVERTISING 713990 15780 15780 MISCELLANEOUS REVENUE 713990 8213 8213 88445 5152453 4721154 431321 -22 426664 1427541 25117 160227 229298 46103 83030 73140 42467 37353 242509 545189 724571 198083 TAXES AND LICENSES 242452 SUPPLIES 233884 REPAIRS AND MAINTENANCE 147771 SUBMERGED LAND LEASE 44007 212803 5142209 39893 3140 515752 561070 488537 568794 129552 138259 108835 152040 18334557 3845859 15019279 14488698 81359 65038 18325 18325 16401532 15995364 641405 682671 346540 404948 14861328 14367837 103683 81088 15952956 15536544 X 448576 458820 448576 458820 16401532 15995364 10244 0 X X 0 1 X 1 0 137338 137338 13285201 1188459 12096742 2205805 1034787 1171018 2706213 1622613 1083600 14488698 DEPOSITS 67400 CAPITAL LEASE PAYABLE 13688 81088 X 6319444 1166991 1166991 5152453 0 5152453 6309200 1166991 1166991 5142209 0 5142209 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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 1,166,969. LOSS ON SALE OF FIXED ASSETS INCLUDED IN EXPENSE PER FS 22. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS INCLUDED IN REVENUE PER 990 1,166,969. LOSS ON SALE OF FIXED ASSETS INCLUDED IN REVENUE PER 990 22. X X X 0 0 0 BERNIE KLOPPENBURG 116327 0 55000 0 0 0 2344 0 51045 0 224716 0 0 0 VOLUNTEERS FORM 990, PART I, LINE 6 THE CLUB UTILIZES THE SERVICES OF 125 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. NUMBER OF W-2'S FILED FORM 990, PART V, LINE 2A SINCE ALL EMPLOYEES WERE LEASED IN 2012, 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 2012. FORM 990, PART VI, SECTION A, LINE 4 KEY CHANGES TO THE BY LAWS TO MAINTAIN A STABLE SET OF BYLAWS TWO MAJOR CHANGES WERE MADE: CURRENT BYLAW ITEMS THAT THE BOARD SHOULD HAVE THE SOLE RIGHT TO CHANGE HAVE BEEN REMOVED FROM THE REVISED BYLAWS. ****THIS WILL REQUIRE ADDITIONAL CLUB RULES AND POLICIES THAT CAN BE CHANGED BY THE BOARD ALL CHANGES TO THE BYLAWS WILL NOW REQUIRE A MEMBERSHIP VOTE MEMBERSHIP IS NOW CLEARLY DEFINED AS AN INDIVIDUAL MEMBERSHIP, WITH THE SPOUSE HAVING FULL RIGHTS MEMBER'S RIGHTS HAVE BEEN MADE CONSISTENT AND CLEARER, BUT IN GENERAL FOLLOW TODAY'S PRACTICES. DIRECTORS WHO ARE APPOINTED TO THE BOARD SERVE ONLY TO THE END OF THE CURRENT WATCH YEAR RATHER THAN THE UNFULFILLED TERM ELECTION OF BOARD MEMBERS NO LONGER REQUIRE MORE CANDIDATES THAN OPENING ****ALTHOUGH THERE IS NOTHING IN THE BYLAWS THAT ELIMINATES THIS PRACTICE ****MEMBERS WILL STILL HAVE THE SAME RIGHTS TO NOMINATE ADDITIONAL CANDIDATES AS THEY DO TODAY MEMBERSHIP MEETINGS, MEMBER VOTING PROCESS, ANNUAL ELECTIONS HAVE BEEN BROUGHT UP-TO-DATE, BUT IN GENERAL FOLLOW TODAYS PRACTICES POWERS OF THE EXECUTIVE COMMITTEE HAS BEEN EXPANDED TO ALLOW THEM TO ACT IN THE ABSENCE OF THE BOARD HOWEVER ANY ACTIONS TAKEN ARE SUBJECT TO CONFIRMATION BY THE BOARD AT ITS NEXT MEETING. ADDITIONAL STANDING COMMITTEES HAVE BEEN ADDED: ****AUDIT COMMITTEE TO MONITOR CLUB FINANCES AND MAJOR PROJECTS ****GOVERNANCE COMMITTEE TO MAINTAIN CONSTANCY IN THE BYLAWS MEMBERSHIP COMMITTEE HAS BEEN GIVEN A MUCH STRONGER ROLE IN THE APPROVAL OF NEW MEMBERS AND MEMBERSHIP CLASS CHANGES THE SCOPE OF THE PLANNING COMMITTEE HAS BE EXPANDED TO COVER OTHER ASPECTS OF PLANNING IN ADDITION TO THE STRATEGIC PLAN AND MAKE IT MORE OF A CONTINUOUS PROCESS THAN A ONCE A YEAR ACTIVITY MEMBER'S FEES AND PAYMENT REQUIREMENTS HAVE BEEN CLARIFIED AND DELINQUENCY HAS BEEN ADDRESSED FINANCIAL LIMITS AND APPROVALS HAVE BEEN INCREASED, BUT MADE PART OF THE BYLAWS SO FUTURE CHANGES REQUIRE MEMBER APPROVAL. THE COMPLAINT, DISCIPLINE, SUSPENSION AND EXPULSION PROCESS HAS BEEN CLARIFIED BOTH STRENGTHENING THE CLUB'S ABILITY TO QUICKLY ACT ON ISSUES AND PROTECTING THE MEMBER'S RIGHTS. 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. AUDIT REVIEW PROCESS FORM 990, PART XII, LINE 2C THE AUDIT REVIEW PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.