2012-07-25T12:48:15-05:00 2011-12-31 420714325 MCGLADREY LLP 1555 PALM BEACH LAKES BLVD SUITE 70 WEST PALM BEACH FL 33401 990 2011-01-01 570868425 DATAW ISLAND CLUB INC DATA 8438388434 PO BOX 819 BEAUFORT SC 29901 LORI MURDAUGH 8438388434 2012-07-25 1 FRANK LUCAS P00995244 5616971785 2011 2016-02-24 21:20:13Z DAVID MUEHL PO BOX 819 BEAUFORT SC 29901 6966185 0 X WWW.DATAW.ORG X 1987 SC TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION. 9 9 176 0 504617 71790 0 0 6047478 5454873 92880 -1540358 8100 864153 6148458 4778668 0 0 0 0 3092694 3080430 0 0 0 3276661 3280898 6369355 6361328 -220897 -1582660 21193535 23558224 517943 3867232 20675592 19690992 DATAW ISLAND CLUB, INC. IS A SOCIAL CLUB WHOSE EXEMPT PURPOSE IS TO PROMOTE INTERACTION OF MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES. 0 0 THE CLUB'S REVENUE FROM FOOD & BEVERAGE SALES TOTALED $1,396,500 FOR THE YEAR ENDED 12/31/11, OF WHICH $216,704 WAS NON-MEMBER RELATED. APPROXIMATELY 42,000 ROUNDS OF GOLF WERE PLAYED FOR THE YEAR ENDED 12/31/11, OF WHICH APPROXIMATELY 1,168 ROUNDS WERE 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 1 0 0 0 1 137 0 1 176 1 1 1 0 0 0 1 1 885754 518103 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 0 1 0 0 SC X MS LORI MURDAUGH 8438388434 PO BOX 819 BEAUFORT SC 29901 PETER DICKERSON 15.00 X X 0 0 0 DAVID MUEHL 10.00 X X 0 0 0 ROBERT GANTZ 8.00 X X 0 0 0 JOHN MACFARLAND 5.00 X X 0 0 0 SONYA GOOGINS 4.00 X 0 0 0 JOAN GILCHRIST 6.00 X 0 0 0 CATHY CROCKER 5.00 X 0 0 0 JOHN SCHAFER 8.00 X 0 0 0 J WOOD RUTTER 4.00 X 0 0 0 EDWARD BARTLETT 55.00 X 191302 0 16373 LORI MURDAUGH 50.00 X 99316 0 14755 BRIAN HOLLINGSWORTH 52.00 X 108424 0 11975 399042 0 43103 2 0 1 0 EROSION RESTORATION LLC 1415 SW 21ST AVE FORT LAUDERDALE FL 33312 LAKE BANK RESTORATION 151724 1 MEMBERSHIP DUES AND AS 713910 4638661 4638661 GOLF 713910 529787 486388 43399 GREENSPACE FEES 713910 258000 258000 TENNIS, SWIMMING, CROQ 713910 28425 28425 5454873 86666 86666 15750 15750 0 0 575 1627599 -1627024 -1627024 -1627024 1396500 544168 852332 735780 116552 MISCELLANEOUS 713910 11821 11821 11821 4778668 5901075 504617 -1627024 2312829 767601 55229 8861 690462 210044 GOF COURSE MAINTENANCE 926632 TENNIS & FITNESS ACTIVI 488347 FACILITIES & POOL MAINT 372357 ADMINISTRATIVE & GENERA 211556 317410 6361328 354804 1338058 1553592 2995992 330640 337153 3254 59716 130822 143671 25213704 7391313 14509175 17822391 3382228 822083 929020 39160 21193535 23558224 163351 455073 11552 31921 215000 128040 3380238 517943 3867232 X 20675592 19690992 20675592 19690992 21193535 23558224 X -1582660 598060 X X 0 1 1 X 0 1267500 1267500 20497879 6607653 13890226 2431025 783660 1647365 1017300 1017300 17822391 CURRENT MATURITIES OF LONG-TERM DEBT 77000 LONG-TERM DEBT, NET OF CURRENT MATURITIES 3303238 3380238 4778668 6361328 -1582660 598060 598060 -984600 5338586 0 5338586 -559918 -559918 4778668 6921246 559918 559918 6361328 0 6361328 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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 8 - OTHER ADJUSTMENTS: MEMBERSHIP PROCEEDS 402,500. MEMBERSHIP REDEMPTION -152,300. DEVELOPER CONTRIBUTION 300,000. PRIOR PERIOD ADJUSTMENT 47,860. TOTAL TO SCHEDULE D, PART XI, LINE 8: 598,060. PART XII, LINE 4B - OTHER ADJUSTMENTS: COST OF SALES RECLASS -544,168. RENTAL EXPENSE -15,750. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES RECLASS 544,168. RENTAL EXPENSE 15,750. X X X 0 0 0 EDWARD BARTLETT 191302 0 0 0 0 0 12922 0 3451 0 207675 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 DATAW ISLAND CLUB, INC. 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: GOLF, FULL GOLF EQUITY MEMBERS HAVE FULL VOTING RIGHTS IN THE ELECTION OF THE OFFICERS AND DIRECTORS. ISLAND SOCIAL & SPORT AND SOCIAL ONLY EQUITY MEMBERS HAVE FULL VOTING RIGHTS WITH THE EXCEPTION OF ITEMS THAT PERTAIN ONLY TO THE GOLF COURSE. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD IS SUBJECT TO MEMBERSHIP APPROVAL FOR THE FOLLOWING: (1) ANY AMENDMENT, ALTERATION, MODIFICATION, REPEAL OR RESTATEMENT OF THE BYLAWS (2) MORTGAGING OF ANY OF THE FACILITIES, (3) THE COMMITMENT TO ANY CAPITAL IMPROVEMENT PROJECT BUDGETED IN EXCESS OF $250,000, (4) THE INCURRING OF ANY UNSECURED BORROWINGS IN EXCESS OF $150,000, (5) THE MERGER WITH, OR ACQUISITION OF, ANY CORPORATION OR ENTITY, AND (6) THE DISSOLUTION OF THE CLUB. 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 TREASURER AND PRESIDENT. THE TREASURER AND PRESIDENT REVIEW FORM 990 WITH ITS OUTSIDE CPA PREPARERS PRIOR TO THE FILING OF THE FORM. FORM 990, PART VI, SECTION B, LINE 12C KEY EMPLOYEES ARE REQUIRED TO SIGN CONFLICT OF INTEREST POLICY ANNUALLY. THE CLUB MONITORS EACH EMPLOYEE FOR BUSINESS RELATIONS WITH FAMILY MEMBERS, GIFTS AND DECISIONS ON CONTRACTS. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION STUDIES, INDUSTRY STUDIES & EMPLOYMENT CONTRACT AGREEMENTS ARE USED IN DETERMINATION AND DOCUMENTATION OF COMPENSATION SUCH AS SALARY/BENEFIT SURVEYS THAT ARE MEASURED AND COMPARED AGAINST THE CLUB'S EMPLOYEE COMPENSATION. THE BOARD APPROVES THE GENERAL MANAGER SALARY AND THE GENERAL MANAGER APPROVES THE SALARIES OF ALL OTHER EMPLOYEES. THE COMPENSATION NORMALLY INCREASES ON A PERCENTAGE BASIS. 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 CLUB PROVIDES COPIES OF ITS GOVERNING DOCUMENTS UPON REQUEST, FOR INSPECTION AT THE CLUB AND ON THE CLUB WEBSITE. THE CLUB PROVIDES COPIES OF ITS FINANCIAL STATEMENTS ON THE CLUB WEBSITE AND AN ANNUAL COPY IS PROVIDED BY MAIL. THE CLUB PROVIDES COPIES OF ITS CONFLICT OF INTEREST POLICY UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: MEMBERSHIP PROCEEDS 402,500. MEMBERSHIP REDEMPTION -152,300. DEVELOPER CONTRIBUTION 300,000. PRIOR PERIOD ADJUSTMENT 47,860. TOTAL TO FORM 990, PART XI, LINE 5: 598,060. FORM 990, PART XII, LINE 2C NO CHANGE FROM PRIOR YEAR. WESTBROOK INC PO BOX 819 BEAUFORT SC 29901 570801805 FOOD & BEVERAGE SC C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0