2011-12-07T14:31:25-06:00 2011-03-31 RSM MCGLADREY LLC 5801 PELICAN BAY BLVD STE500 NAPLES FL 341082734 990 2010-04-01 650569727 PELICAN'S NEST GOLF CLUB INC PELI 2399472282 4450 PELICANS NEST DRIVE BONITA SPRINGS FL 34134 MICHAEL MARTINO 2399472282 2011-12-02 1 FRANK LUCAS 2395964518 2010 2016-02-24 21:20:13Z MICHAEL MARTINO 4450 PELICANS NEST DRIVE BONITA SPRINGS FL 34134 7143135 0 X WWW.NESTGOLF.COM X 1995 FL TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION. 9 9 148 0 519893 97 0 0 5567998 5495582 4292 2583 864973 1059855 6437263 6558020 0 0 0 0 3437948 3320174 0 0 0 4327586 4265974 7765534 7586148 -1328271 -1028128 21788867 20872613 7403642 6551664 14385225 14320949 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 COURSE. TOTAL ROUNDS OF GOLF PLAYED FOR THE YEAR ENDED 03/31/11 WAS APPROX. 46,481 OF WHICH APPROX 5,056 ROUNDS WERE NON-MEMBER REALATED. TOTAL FOOD AND BEVERAGE REVENUE FOR THE YEAR WAS $1,094,648 OF WHICH $137,958 WAS NON-MEMBER RELATED. 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 0 1 20 0 1 148 1 1 1 0 0 0 1 1 0 565376 0 X 9 9 0 0 0 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 MICHAEL MARTINO 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 KENNETH R FRANCESE 1.00 X 0 0 0 DIANE WELSH 1.00 X 0 0 0 ROBERT D BOSCHULTE JR 1.00 X 0 0 0 DREXEL BUNCH 1.00 X X 0 0 0 PETER SCHMIDT 1.00 X 0 0 0 ED MILLIKEN 1.00 X X 0 0 0 DAVID GILLESPIE 40.00 X X 153600 0 12223 TIM MAURAIS 40.00 X X 116000 0 3301 JASON ZIMMERMAN 40.00 X 128200 0 12720 CHRIS SHEEHAN 40.00 X 114880 0 9120 CAMERON HORD 40.00 X 104000 0 11948 616680 0 49312 5 0 1 0 0 MEMBERSHIP DUES & ASSE 713910 4028955 4028955 GREEN & GOLF CART FEES 713910 1300220 1025585 274635 OTHER GOLF REVENUE 713910 166407 166407 5495582 4997 4997 2414 -2414 -2414 -2414 1340588 582701 757887 670409 87478 DESIGNATED USER FEES 713910 130783 130783 MISCELLANEOUS 713910 114838 114838 INTEREST RATE SWAP 713910 25283 25283 31064 9064 22000 301968 6558020 6040541 519893 -2414 2966716 353458 409290 864570 180700 GOLF COURSE MAINTENANCE 1361311 CLUBHOUSE 442345 PROPERTY TAXES 333679 GOLF ACTIVITIES 231155 GENERAL & ADMINISTRATIV 195764 247160 7586148 1182081 1032164 683219 649220 147253 164857 172875 125471 30760138 12177239 19076485 18582899 526954 318002 21788867 20872613 1469608 669193 38019 5934034 5844452 7403642 6551664 X 14385225 14320949 14385225 14320949 21788867 20872613 X -1028128 963852 X X 0 1 1 X 0 6882184 6882184 12694637 6473990 6220647 2195330 1119571 1075759 8987987 4583678 4404309 18582899 NOTES PAYABLE 4884261 CAPITAL LEASE OBLIGATIONS 109198 INTEREST RATE SWAP AGREEMENT 715293 DEFERRED AMBASSADOR PROGRAM 35700 LINE OF CREDIT 100000 5844452 6558020 7586148 -1028128 963852 963852 -64276 7143135 582701 582701 6560434 -2414 -2414 6558020 8171263 582701 582701 7588562 -2414 -2414 7586148 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. PART XI, LINE 8 - OTHER ADJUSTMENTS: ISSUANCE OF MEMBERSHIPS 76,800. CAPITAL IMPROVEMENT ASSESSMENTS 362,982. DEBT REDUCTION ASSESSMENTS 524,070. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 582,701. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF ASSETS -2,414. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 582,701. PART XIII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF ASSETS -2,414. X X 0 0 0 DAVID GILLESPIE 135000 0 15000 0 3600 0 2530 0 9693 0 165823 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 BOARD OF DIRECTORS SHALL BE ELECTED AT EACH ANNUAL MEETING BY ALL MEMBERS ENTITLED TO VOTE. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING MEMBERSHIP CATEGORY HAVE VOTING PRIVILEGES: GOLF MEMBERSHIPS VOTE ON OPERATING BUDGET, CAPITAL BUDGET, ELECT BOARD MEMBERS, AND VOTE ON BY-LAWS CHANGES(2/3RD VOTE). FORM 990, PART VI, SECTION B, LINE 11 ALL BOARD MEMBERS RECIEVES A COPY OF THE RETURN BEFORE FILING. EACH BOARD MEMBER REVIEWS TO THE NECESSARY EXTENT. IF ANY QUESTIONS ARISE, ITS 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 AND GOVERNING DOCUMENTS ARE ALSO AVAILABLE VIA CLUB WEBSITE. THE GOVERNING DOCUMENTS ARE ALSO AVAILABLE TO THE PUBLIC BY INSPECTION AT THE CLUB. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: ISSUANCE OF MEMBERSHIPS 76,800. CAPITAL IMPROVEMENT ASSESSMENTS 362,982. DEBT REDUCTION ASSESSMENTS 524,070. TOTAL TO FORM 990, PART XI, LINE 5: 963,852. FORM 990: PART XII, LINE 2C: NO CHANGE FROM PRIOR YEAR.