2013-11-14T09:56:04-06:00 2013-03-31 420714325 MCGLADREY LLP 5551 RIDGEWOOD DRIVE SUITE 401 NAPLES FL 34108 990 2012-04-01 650569727 PELICAN'S NEST GOLF CLUB INC PELI 2399472282 4450 PELICANS NEST DRIVE BONITA SPRINGS FL 34134 THOMAS SULLIVAN 2399472282 2013-11-14 1 FRANK LUCAS P00995244 2395960105 2012 2016-02-25 16:41:14Z DREXEL BRUNCH 4450 PELICANS NEST DRIVE BONITA SPRINGS FL 34134 8160247 0 X WWW.NESTGOLF.COM X 1995 FL TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION. 9 9 161 9 552457 0 0 0 6050862 6054755 1293 2633 1195725 1361667 7247880 7419055 0 0 0 0 3541475 3801215 0 0 0 4441566 4460643 7983041 8261858 -735161 -842803 20809544 20693544 6112926 5746470 14696618 14947074 PELICAN'S NEST GOLF CLUB, INC. 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 HAS TWO 18 HOLE GOLF COURSES. TOTAL ROUNDS OF GOLF PLAYED FOR THE YEAR ENDED 03/31/13 WAS APPROXIMATELY 52,715 OF WHICH APPROXIMATELY 6,061 ROUNDS WERE NON-MEMBER RELATED. TOTAL FOOD AND BEVERAGE REVENUE FOR THE YEAR WAS $1,368,755 OF WHICH $147,972 WAS NON-MEMBER RELATED. 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 38 0 1 161 1 1 1 0 0 0 1 1 125760 648373 0 X 9 9 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X TIM MAURAIS CONTROLLER 2399472282 4450 PELICANS NEST DRIVE BONITA SPRINGS FL 34134 TOM SULLIVAN 1.00 X X 0 0 0 ROBERT C KOLK 1.00 X 0 0 0 PHIL SIMON 1.00 X X 0 0 0 JANE DUNK 1.00 X 0 0 0 DIANE WELSH 1.00 X X 0 0 0 VINCE LOVELLE 1.00 X 0 0 0 ED MILLIKEN 1.00 X X 0 0 0 NICK SPAIN 1.00 X 0 0 0 KEVIN BRENNAN 1.00 X 0 0 0 DAVID GILLESPIE 40.00 X 178981 0 10338 TIM MAURAIS 40.00 X 120705 0 13238 JASON ZIMMERMAN 40.00 X 126895 0 7871 CHRISTIAN SHEEHAN 40.00 X 111324 0 14309 CAMERON HORD 40.00 X 107435 0 6065 AJ SZYMANSKI 40.00 X 149104 0 2936 794444 0 54757 6 0 1 0 0 MEMBERSHIP DUES & ASSESSMENTS 713910 4430581 4430581 GREEN & GOLF CART FEES 713910 1443741 1184101 259640 OTHER GOLF REVENUE 713910 180433 180433 6054755 1733 1733 900 0 900 900 900 1692990 741192 951798 843841 107957 DESIGNATED USER FEES 713910 183127 183127 INTEREST RATE SWAP 713910 147297 147297 MISCELLANEOUS 713910 68543 68543 10902 10902 409869 7419055 6865698 552457 900 3037186 764029 345517 916226 196171 GOLF COURSE MAINTENANCE 1574522 CLUBHOUSE 424392 GENERAL & ADMINISTRATIV 267891 PROPERTY TAXES 264201 471723 8261858 1388014 1388983 766553 830830 175987 208847 158496 151645 31768257 13971479 18001495 17796778 318999 316461 20809544 20693544 622395 714388 215182 199684 5275349 4832398 6112926 5746470 X 14696618 14947074 14696618 14947074 20809544 20693544 X -842803 1093259 X X 0 1 X 1 0 6882185 6882185 12873100 4115891 8757209 2749318 2043173 706145 9263654 7812415 1451239 17796778 NOTES PAYABLE 4100000 CAPITAL LEASE OBLIGATIONS 119821 INTEREST RATE SWAP AGREEMENT 612577 4832398 X 8160247 741192 741192 7419055 0 7419055 9003050 741192 741192 8261858 0 8261858 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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 INCOME TAX TOPIC OF THE FASB ACCOUNTING STANDARDS CODIFICATION. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 741,192. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 741,192. X X X X X 0 0 0 DAVID GILLESPIE 148715 0 15000 0 15266 0 3287 0 7051 0 189319 0 0 0 AJ SZYMANSKI 52195 0 91235 0 5674 0 558 0 2378 0 152040 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 THE PRIMARY CHANGE TO THE BYLAWS NOW GIVES THE BOARD OF DIRECTORS THE CAPACITY TO ADJUST MEMBERSHIP TYPES AND CATEGORIES. 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 FULL GOLF MEMBERS ARE THE ONLY MEMBERSHIP CATEGORY WHICH HAS VOTING PRIVILEGES. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING MEMBERSHIP CATEGORIES HAVE VOTING PRIVILEGES: GOLF MEMBERSHIPS VOTE ON OPERATING BUDGET, CAPITAL BUDGET, ELECT BOARD MEMBERS, AND VOTE ON BYLAW CHANGES (2/3RD VOTE). FORM 990, PART VI, SECTION B, LINE 11 ALL BOARD MEMBERS RECEIVE A COPY OF THE RETURN BEFORE FILING. EACH BOARD MEMBER REVIEWS TO THE NECESSARY EXTENT. IF ANY QUESTIONS ARISE, THEY ARE DISCUSSED WITH THE TREASURER OR THE OUTSIDE CPA IF NEEDED. FORM 990, PART VI, SECTION B, LINE 12C CLUB MONITORS COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY AS A GENERAL POLICY THAT MEMBERS ARE NOT PERMITTED TO CONDUCT BUSNIESS WITH THE CLUB. GENERAL MANAGER MONITORS ALL NEW VENDOR ADDITIONS EACH MONTH. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT AND TREASURER REVIEW AND APPROVE COMPENSATION ARRANGEMENTS FOR THE GENERAL MANAGER AND THE CONTROLLER BASED ON THE COMPENSATION STUDY FOR COUNTRY CLUBS. THE GENERAL MANAGER DETERMINE PAY RAISES AND YEAR END BONUSES FOR NON-CONTRACTED EMPLOYEES. 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 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. IN ADDITION, THE FINANCIAL STATEMENTS ARE ALSO AVAILABLE VIA CLUB WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: ISSUANCE OF MEMBERSHIPS 164,315. CAPITAL IMPROVEMENT ASSESSMENTS 379,094. DEBT REDUCTION ASSESSMENTS 549,850. FORM 990: PART XII, LINE 2C: NO CHANGE FROM PRIOR YEAR.