2021-11-10T08:29:36-06:00 2020-12-31 271728945 PKF O'CONNOR DAVIES LLP 40 WESTMNISTER STREET SUITE 600 PROVIDENCE RI 02904 990 2020-01-01 270057695 GREAT HARBOR YACHT CLUB INC GREA 5086805033 96 WASHINGTON STREET NANTUCKET MA 02554 STEPHEN CREESE GENERAL MANAGER 5086805033 2021-11-03 1 STEPHEN CREESE XXX-XX-XXXX KERRI RAWCLIFFE P01398485 4016216200 2021-11-03 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z STEPHEN CREESE 96 WASHINGTON STREET NANTUCKET MA 02554 13401823 0 X WWW.GHYC.COM X 2003 MA TO MAINTAIN A CLUBHOUSE AND FACILITIES; TO CULTIVATE A SOCIAL SPIRIT AMONG ITS MEMBERS; TO PROVIDE THEM WITH LAWFUL RECREATION TO DO GENERALLY WHATEVER MAY SERVE FOR THE ADVANCEMENT, BENEFIT, DIVERSION OR PLEASURE OF THE MEMBERS. 11 11 79 74 39039 25711 0 0 5796953 5342045 82245 37921 1435947 204294 7315145 5584260 7000 250 0 0 3808807 2821851 0 0 0 7240530 6448774 11056337 9270875 -3741192 -3686615 68422913 66386317 10323775 9849292 58099138 56537025 THE PURPOSE OF THE CLUB IS TO ENCOURAGE SAILING, ANGLING AND BOATING AND TO PROVIDE RECREATIONAL, EDUCATIONAL AND SOCIAL ACTIVITIES FOR ITS MEMBERS AND THEIR FAMILIES AND GUESTS. 0 0 THE FOOD & BEVERAGE PROGRAM WAS AVAILABLE TO MEMBERS 7 DAYS A WEEK FROM EARLY JUNE THRU SEPTEMBER WITH OTHER SPECIAL EVENTS HELD IN THE SHOULDER SEASON. THIS PROGRAM SERVED OVER 350 MEMBERSHIPS, THEIR FAMILIES AND GUESTS. THE TENNIS & SWIM PROGRAM IS AVAILABLE TO MEMBERS DURING THE SEASON FROM MID-JUNE THROUGH EARLY SEPTEMBER. OVER 150 MEMBERSHIPS HAD PARTICIPATION IN TENNIS & SWIM ACTIVITIES. THIS PROGRAM ALSO SERVES MEMBERS OF JUST THIS FACILITY, AS WELL AS LOCAL MEMBERSHIPS AND SOME MEMBERS OF THE PUBLIC FOR TENNIS PROGRAMS ONLY. THE WATERFRONT FACILITY COVERS ALL ASPECTS OF WATERFRONT SPORTS FOR OUR MEMBERS INCLUDING SAILING LESSONS, SAIL BOAT RACES, KAYAK AND PADDLEBOARD RENTALS. WE HAVE DOCK SPACE FOR SEASONAL AND TRANSIENT BOAT SLIPS FOR MEMBERS. 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 31 0 79 1 1 1 0 0 0 0 84000 54207 0 0 0 X 11 11 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X KERRY TILTON 5086805033 96 WASHINGTON STREET NANTUCKET MA 02554 ELLIOT GERWITZ COMMODORE 2.00 X X 0 0 0 CECE FOWLER VICE COMMODORE 2.00 X X 0 0 0 MATT DWYER REAR COMMODORE 2.00 X X 0 0 0 RHONDA MCDONALD SECRETARY 2.00 X X 0 0 0 GRADY DURHAM TREASURER 2.00 X X 0 0 0 SUSAN MCCOLLUM DIRECTOR 2.00 X 0 0 0 SARAH NEWTON DIRECTOR 2.00 X 0 0 0 ALMOND GODUTI DIRECTOR 2.00 X 0 0 0 RORY RADDING DIRECTOR 2.00 X 0 0 0 PHIL NARDONE JR DIRECTOR 2.00 X 0 0 0 MARIANNA BREWSTER DIRECTOR 2.00 X 0 0 0 STEPHEN CREESE GENERAL MANAGER 50.00 X 295290 0 69192 KERRY TILTON CHIEF FINANCIAL OFFICER 40.00 X 179846 0 28872 CHRISTIAN PAVESI ASSISTANT GENERAL MANAGER 40.00 X 221849 0 38931 JOHN LUYRINK TENNIS & SWIM DIRECTOR 40.00 X 197150 0 39421 ANDRE MARRERO EXECUTIVE CHEF 40.00 X 254296 0 28872 WILLIAM COWZER FACILITIES MANAGER 50.00 X 120286 0 28994 MEGAN MALTBY MEMBERSHIP DIRECTOR 40.00 X 120711 0 29407 NICHOLAS FIX EMPLOYEE 40.00 X 116827 0 27727 SARAH STORIE EMPLOYEE 40.00 X 116538 0 10131 1622793 0 301547 9 0 1 0 TRANE INC PO BOX 406469 ATLANTA GA 30384 HEATING/COOLING 184810 SYSCO BOSTON LLC 99 SPRING STREET PLYMPTON MA 02367 FOOD/GOODS 118819 ITWORKS INC 1611 MAIN STREET WEST BARNSTABLE MA 02668 IT SERVICES 107306 AMY MANNING LANDSCAPE INC 7 NOBADEER WAY NANTUCKET MA 02554 LANDSCAPING SERVICES 106716 4 MEMBERSHIP DUES 713910 4484311 4484311 TENNIS AND PRO SHOP 713910 431984 431984 WATERFRONT 713910 272276 272276 INITIATION FEES 713910 84000 84000 FITNESS 713910 34945 34945 34529 34529 5342045 15174 15174 7616373 7593626 22747 22747 22747 428231 223937 204294 203176 1118 5584260 5545221 39039 0 250 1579925 945330 10775 134728 151093 15467 24842 22075 75875 1408 208529 156048 255 792313 203449 3602575 111837 FEDERAL TAXES 17483 REPAIRS AND MAINTENANCE 702808 PROGRAMS 280831 OTHER 121962 111017 9270875 1978457 1959419 7210 0 100007 167631 324782 354011 301251 253836 100433514 40713016 62725415 59720498 2985791 3930922 68422913 66386317 155872 70635 1695329 1402949 6609124 6400258 1863450 1975450 10323775 9849292 X 58099138 56537025 58099138 56537025 68422913 66386317 X -3686615 2124500 X X 0 1 X 1 0 28235567 28235567 66790334 36611532 30178802 5407613 4101484 1306129 59720498 TENNIS PROMISSORY NOTE 1447450 TENNIS MEMBER DEPOSIT 528000 1975450 X 5808197 223937 223937 5584260 0 5584260 9494812 223937 223937 9270875 0 9270875 PART X, LINE 2: THE CLUB RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY WHEN THEY ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE CLUB HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE CLUB IS NO LONGER SUBJECT TO FEDERAL OR STATE INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO DECEMBER 31, 2017. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON PART VIII, LINE 10B 223,937. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON PART VIII, LINE 10B 223,937. X 1 1 X X 0 0 0 STEPHEN CREESE GENERAL MANAGER 241290 0 54000 0 0 0 0 0 69192 0 364482 0 0 0 ANDRE MARRERO EXECUTIVE CHEF 219296 0 35000 0 0 0 0 0 28872 0 283168 0 0 0 CHRISTIAN PAVESI ASSISTANT GENERAL MANAGER 176849 0 45000 0 0 0 0 0 38931 0 260780 0 0 0 JOHN LUYRINK TENNIS & SWIM DIRECTOR 172650 0 24500 0 0 0 0 0 39421 0 236571 0 0 0 KERRY TILTON CHIEF FINANCIAL OFFICER 144346 0 35500 0 0 0 0 0 28872 0 208718 0 0 0 MEGAN MALTBY MEMBERSHIP DIRECTOR 96711 0 24000 0 0 0 0 0 29407 0 150118 0 0 0 PART I, LINE 1A -AS PART OF THEIR EMPLOYMENT THE GENERAL MANAGER, ASSISTANT GENERAL MANAGER, AND TENNIS & SWIM DIRECTOR ARE GIVEN A HOUSING ALLOWANCE THAT IS NONTAXABLE TO THEM AND IS REPORTED IN PART II, COLUMN (D)- NONTAXABLE BENEFITS. -THE EXECUTIVE CHEF RECEIVES A $1,000 PER MONTH HOUSING ALLOWANCE THAT IS TAXABLE AND IS REPORTED IN PART II, COLUMN (B), III-OTHER REPORTABLE COMPENSATION. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION HAS A MANAGEMENT AGREEMENT FOR CERTAIN ADMINISTRATIVE AND HUMAN RESOURCES WITH RESOURCE MANAGEMENT, INC. THE OFFICERS AND HIGHEST COMPENSATED EMPLOYEES LISTED IN PART VII AND SCHEDULE J WERE PAID BY RESOURCE MANAGEMENT, INC. FORM 990, PART VI, SECTION A, LINE 6 THE CLUB HAS MEMBERS AND THESE MEMBERS HAVE THE POWER TO ELECT OFFICERS AND DIRECTORS AT THEIR ANNUAL MEMBER MEETING. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ARE ENTITLED TO ELECT OFFICERS AND DIRECTORS AT THE ANNUAL MEETING OF MEMBERS ON A DAY DURING AUGUST. THIRTY DAYS NOTICE THEREOF SHALL BE MAILED BY THE SECRETARY TO EACH MEMBER ENTITLED TO VOTE. THE MAJORITY OF THE VOTES CAST ON THE MATTER SHALL CONSTITUTE THE ACT OF THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE, WHEN THE BOARD IS NOT IN SESSION, ALL POWERS OF THE BOARD, EXCEPT THAT THE EXECUTIVE COMMITTEE MAY NOT TAKE ANY ACTION WHICH UNDER THE BY-LAWS REQUIRE A TWO-THIRDS DIRECTORS VOTE OR A VOTE OF THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE CLUB HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED AND REVIEWED BY MANAGEMENT, IT IS ELECTRONICALLY SENT TO THE MEMBERS OF THE FINANCE COMMITTEE FOR ANY COMMENTS. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND REVIEWED WITH MANAGEMENT AND THE ACCOUNTING FIRM. ALL ISSUES ARE DOCUMENTED AND ADDRESSED. THE FORM 990 IS THEN SUBMITTED TO THE FULL BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING. IF NECESSARY THE EXECUTIVE COMMITTEE CAN APPROVE THE 990 AS FINAL ON BEHALF OF THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 12C UPON FIRST BEING HIRED, PROMOTED OR ASKED TO JOIN GHYC, EACH DIRECTOR, OFFICER OR KEY EMPLOYEE SHALL MAKE DISCLOSURE OF ANY RELATED-PARTY TRANSACTIONS WITH GHYC OF WHICH THE DIRECTOR, OFFICER OR KEY EMPLOYEE HAS KNOWLEDGE TO THE COMMODORE, VICE COMMODORE, REAR COMMODORE, TREASURER AND SECRETARY (HEREAFTER, THE "FLAG OFFICERS"). THIS SHALL INCLUDE ANY RELATED-PARTY TRANSACTIONS THAT CURRENTLY EXIST, THAT OCCURRED DURING THE PAST YEAR, OR THAT THE INDIVIDUAL REASONABLY EXPECTS MIGHT OCCUR IN THE COMING YEAR. THEREAFTER, DISCLOSURES SHALL BE UPDATED ANNUALLY, OR OTHERWISE AS CHANGED CIRCUMSTANCES IN A PARTICULAR CASE MAY WARRANT. IF, PRIOR TO THE NEXT ANNUAL DISCLOSURE, ANY DUALITY OF INTEREST OR POSSIBLE CONFLICT OF INTEREST ON THE PART OF ANY DIRECTOR, OFFICER OR KEY EMPLOYEE DEVELOPS, SUCH CONFLICT SHALL BE DISCLOSED TO THE FLAG OFFICERS. FOR ALL SUCH DISCLOSURES, GHYC SHALL USE A DISCLOSURE FORM CONSISTENT WITH THE GENERAL DEFINITIONS ABOVE AND RESPONSIVE TO THE VARIOUS REGULATORY AND AUDITING REQUIREMENTS TO WHICH GHYC IS SUBJECT. THE TERMS OF ALL RELATED-PARTY TRANSACTIONS SHALL BE REVIEWED BY THE FLAG OFFICERS WHO HAVE NO INVOLVEMENT WITH ANY RELATED-PARTY TRANSACTIONS FOR GHYC. THE FLAG OFFICERS SHALL DEVELOP RECOMMENDATIONS AS TO WHETHER, ALL FACTORS CONSIDERED, A GIVEN TRANSACTION MEETS FAIR-MARKET TERMS AND IS IN THE BEST INTERESTS OF GHYC. FOR THIS PURPOSE, A "TRANSACTION" MAY INCLUDE AN ONGOING BUSINESS RELATIONSHIP SUBJECT TO STATED TERMS. THE FLAG OFFICERS SHALL REPORT ITS RECOMMENDATIONS OF RELATED-PARTY TRANSACTIONS TO THE BOARD OF DIRECTORS. A DIRECTOR MAY STATE HIS OR HER VIEWS, AND SHALL RESPOND TO QUESTIONS, ON ANY TRANSACTION IN WHICH HE OR SHE MAY BE INTERESTED, BUT ALL INTERESTED DIRECTORS ON THE BOARD OF DIRECTORS SHALL BE EXCUSED FROM DELIBERATIONS AND VOTING AS TO ANY RELATED-PARTY TRANSACTIONS. APPROVAL OF A RELATED-PARTY TRANSACTION SHALL REQUIRE A MAJORITY VOTE OF THOSE DIRECTORS ON THE BOARD OF DIRECTORS WHO HAVE NO INVOLVEMENT WITH ANY RELATED-PARTY TRANSACTIONS. THE BASIS FOR ANY SUCH VOTE SHALL BE REFLECTED IN THE MINUTES OF THE MEETING AT WHICH ACTION IS TAKEN, AND THOSE MINUTES SHALL BE APPROVED AT THE NEXT MEETING OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE GENERAL MANAGER IS DETERMINED BY THE BOARD OF DIRECTORS. EACH MANAGER HAS GOALS FOR THE YEAR AND OUR PERFORMANCE IS MEASURED AGAINST THOSE GOALS. EACH MANAGER WRITES A SELF REVIEW WHICH IS REVIEWED BY THE GM AND THE EXECUTIVE COMMITTEE/BOARD. APPROVAL OF ANY PAY CHANGES/ADDITIONAL COMPENSATION IS GIVEN TO THE CFO FOR PROCESSING BY THE GENERAL MANAGER. THE APPROVAL FOR THESE HAS COME FROM THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AND THE AUDITED FINANCIAL STATEMENT AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. FORM 990 IS POSTED GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE ALSO AVAILABLE UPON WRITTEN REQUEST AT 96 WASHINGTON STREET, NANTUCKET, MA 02554 OR BY CALLING THE ORGANIZATION DIRECTLY AT 508-680-5033. FORM 990, PART XI, LINE 9: NET INCREASE IN MEMBERSHIP CERTIFICATES 2,124,500. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR.