2021-02-16T08:36:11-06:00 2020-09-30 560574444 CHERRY BEKAERT LLP 222 CENTRAL PARK AVE STE 1400 VIRGINIA BEACH VA 23462 990 2019-10-01 540701575 CAVALIER GOLF & YACHT CLUB CAVA 7574257661 1052 CARDINAL ROAD VIRGINIA BEACH VA 23451 JOE ANDREW GENERAL MANAGER/COO 7574257661 2021-02-15 1 AMANDA ADAMS P00748038 7574562400 2019 2022-09-23 18:48:47Z DAVID EARL 1052 CARDINAL ROAD VIRGINIA BEACH VA 23451 9711319 0 X WWW.CAVALIERGYC.COM X 1928 VA THE CAVALIER GOLF & YACHT CLUB IS A PRIVATE NONPROFIT SOCIAL, ATHLETIC AND RECREATIONAL CLUB. WE PROVIDE GOLFING, YACHTING, SWIMMING, TENNIS, DINING, AND OTHER SOCIAL, RECREATIONAL AND ATHLETIC FACILITIES FOR THE PLEASURE AND RECREATION OF OUR MEMBERS, THEIR FAMILIES AND INVITED GUESTS. OUR MISSION IS TO PROVIDE A FAMILY-ORIENTED ENVIRONMENT THAT SUPPORTS CLOSE PERSONAL CONTACT AND FELLOWSHIP AMONGST MEMBERS. 13 13 377 0 421271 39400 0 0 6467635 6820788 -73481 -6725 1725092 1347515 8119246 8161578 0 0 0 0 4252011 4111329 0 0 0 3531162 3915746 7783173 8027075 336073 134503 23928877 23797160 11260250 11158430 12668627 12638730 X THE CAVALIER GOLF & YACHT CLUB IS A PRIVATE NONPROFIT SOCIAL, ATHLETIC AND RECREATIONAL CLUB. THE CLUB PROVIDES GOLFING, YACHTING, SWIMMING, TENNIS, DINING, AND OTHER SOCIAL, RECREATIONAL AND ATHLETIC FACILITIES FOR THE PLEASURE AND RECREATION OF THE MEMBERS, THEIR FAMILIES AND INVITED GUESTS. THEIR MISSION IS TO PROVIDE A FAMILY-ORIENTED ENVIRONMENT THAT SUPPORTS CLOSE PERSONAL CONTACT AND FELLOWSHIP AMONGST MEMBERS. 0 0 PROVIDE GOLFING, YACHTING, SWIMMING, TENNIS, DINING, AND OTHER SOCIAL, RECREATIONAL AND ATHLETIC FACILITIES FOR THE PLEASURE AND RECREATION OF THE MEMBERS, THEIR FAMILIES AND INVITED GUESTS. 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 35 0 1 377 1 1 1 0 0 0 0 773717 692121 0 0 0 X 13 13 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X GINA TAYLOR 7574257661 1025 CARDINAL ROAD VIRGINIA BEACH VA 23451 ANDREW KELLAM PRESIDENT 1.00 X X 0 0 0 SCOTT SAAL VICE PRESIDENT OPERATIONS 1.00 X X 0 0 0 NICOLE WILLIAMS VICE PRESIDENT ADMINSTRATION 1.00 X X 0 0 0 TED HAND TREASURER 1.00 X X 0 0 0 BOBBY COLLENBERG SECRETARY/HOUSE CHAIR 1.00 X X 0 0 0 ED AUGUSTINE DIRECTOR 1.00 X 0 0 0 MIMI BOSEMAN FITNESS LIAISON 1.00 X 0 0 0 JIM CUMMINGS MEMBERSHIP CHAIR 1.00 X 0 0 0 LARRY HARMON TENNIS COMMITTEE LIAISON 1.00 X 0 0 0 JASON MURPHY MEMBERSHIP DEVELOPMENT CO CHAIR 1.00 X 0 0 0 JOHN NORRIS GENERAL COUNCIL 1.00 X 0 0 0 TED VERFURTH GREEN COMMITTEE CHAIR 1.00 X 0 0 0 JENN WILLIAMSON MEMBERSHIP DEVELOPMENT CO CHAIR 1.00 X 0 0 0 JOHN MILLESON GENERAL MANAGER/COO UNTIL 7/1/2020 40.00 X 230233 0 18548 JOE ANDREW GENERAL MANAGER/COO SINCE 7/1/2020 50.00 X 0 0 0 CAROL MERCIER CONTROLLER 40.00 X 95764 0 13162 GINA TAYLOR CONTROLLER SINCE 8/24/2020 40.00 X 0 0 0 STEPHEN MARK HILL GREENS SUPERINTENDENT 40.00 X 118123 0 18287 444120 0 49997 2 0 1 0 0 MEMBERSHIP DUES 713910 3937537 3937537 YACHTING INCOME 713910 860307 836022 24285 INITIATION FEES 713910 692187 692187 GOLF INCOME 713910 588588 588588 RENOVATION CHARGES 713910 81530 81530 660639 659746 893 6820788 659 659 42256 0 42256 42256 42256 7384 -7384 -7384 -7384 2847616 1542357 1305259 952081 353178 8161578 7747691 421271 -7384 404226 3141665 39118 269501 256819 24312 20127 2150 60165 87494 556287 3175 3474 353305 1047426 200948 REPAIRS & MAINTENANCE 420219 YACHTING EXPENSE 306367 GOLF EXPENSE 216700 UBI TAX 8080 605517 8027075 485982 857508 627386 628045 1082928 1113830 246362 266153 95505 94716 30963687 10586038 20963166 20377649 427548 459259 23928877 23797160 755677 536376 740382 856554 9330329 9233401 433862 532099 11260250 11158430 X 12668627 12638730 12668627 12638730 23928877 23797160 X 134503 -164400 X 0 1 X 1 0 3200394 3200394 23531169 8972345 14558824 3126687 1192194 1934493 1105437 421499 683938 20377649 DEFERRED COMPENSATION PAYABLE 459260 CAPITAL LEASE OBLIGATIONS 72839 532099 X 9129625 -88482 -88482 9218107 -1056529 -1056529 8161578 9488334 1549741 1549741 7938593 88482 88482 8027075 PART X, LINE 2: THE CLUB IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE ("IRC"). IN ACCORDANCE WITH IRC REGULATIONS, THE CLUB IS TAXED ON UNRELATED BUSINESS INCOME, WHICH CONSISTS PRINCIPALLY OF EARNINGS FROM ACTIVITIES NOT RELATED TO THE EXEMPT PURPOSE OF THE CLUB. THE CLUB ACCOUNTS FOR TAX UNCERTAINTIES BASED ON A MORE LIKELY THAN NOT RECOGNITION THRESHOLD WHEREBY TAX BENEFITS ARE ONLY RECOGNIZED WHEN THE CLUB BELIEVES THAT THEY HAVE A GREATER THAN 50% LIKELIHOOD OF BEING SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE CLUB HAS EVALUATED ALL ITS TAX POSITIONS AND DETERMINED THAT IT HAD NO MATERIAL UNCERTAIN INCOME TAX POSITIONS AS OF SEPTEMBER 30, 2020 AND 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: YACHTING DIVISION EXPENSES NETTED AGAINST REVENUE -88,482. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -1,542,357. LOSS ON DISPOSAL OF ASSETS -7,384. INITIATION FEES 493,212. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 1,542,357. LOSS ON DISPOSAL OF ASSETS 7,384. PART XII, LINE 4B - OTHER ADJUSTMENTS: YACHTING DIVISION EXPENSES NETTED AGAINST REVENUE 88,482. X X X 0 0 0 JOHN MILLESON GENERAL MANAGER/COO UNTIL 7/1/2020 212450 0 15000 0 2783 0 12285 0 6263 0 248781 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERSHIP OF THE CLUB CONSISTS OF TWO GENERAL CLASSES: VOTING MEMBERS AND NON-VOTING MEMBERS. SUBCLASSES INCLUDE TRADITIONS MEMBERS, YOUNG ADULT MEMBERS, SENIOR MEMBERS, MASTERS MEMBERS, WIDOW(ER) MEMBERS, ASSOCIATE MEMBERS, HONORARY MEMBERS, EMERITUS MEMBERS, ACTIVE DUTY MILITARY MEMBERS, SPECIAL GUESTS, AND TENNIS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A VOTING MEMBERS MAY VOTE, HOLD OFFICE AS DIRECTORS OR OFFICERS IF THEY ARE DOMICILED IN VIRGINIA, AND MAY SPONSOR NEW MEMBERS. SPOUSES OF VOTING MEMBERS, DURING THE CONTINUATION OF THE MARRIAGE, SHALL HAVE THE RIGHT TO PARTICIPATE IN CLUB AFFAIRS AND SERVE ON COMMITTEES AT THE PLEASURE OF THE BOARD, BUT SHALL NOT HAVE THE RIGHT TO VOTE. CANDIDATES ARE POSTED FOR MEMBERS TO REVIEW AND THEN AT THE BOARD MEETING, THE BOARD ELECTS IF NO OBJECTIONS ARE MADE. NON-VOTING MEMBERS MAY NOT VOTE, SERVE AS AN OFFICER OR DIRECTOR OF THE CLUB, RESERVE TEE TIMES, OR SPONSOR NEW MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B BYLAWS MADE BY THE BOARD MAY BE CHANGED OR REPEALED, AND NEW BYLAWS MADE, BY A TWO-THIRDS MAJORITY VOTE OF THE VOTING MEMBERS PRESENT AT AN ANNUAL OR SPECIAL MEETING AT WHICH A QUORUM IS PRESENT; AND A LIKE TWO-THIRDS VOTE OF THE VOTING MEMBERS MAY PRESCRIBE THAT ANY BYLAW MADE BY THEM SHALL NOT BE ALTERED, AMENDED OR REPEALED BY THE BOARD. CAPITAL PROJECTS AND MEMBERS ASSESSMENTS OVER A SPECIFIC AMOUNT ARE ALSO SUBJECT TO APPROVAL BY VOTING MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS SENT TO THE GENERAL MANAGER AND THE TREASURER OF THE BOARD OF DIRECTORS. BOTH MUST APPROVE THE 990 BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES MUST READ AND SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY STATING THEY ARE UNAWARE OF ANY CONFLICTS. ANY CONFLICTS THROUGHOUT THE YEAR ARE REQUIRED TO BE REPORTED TO EITHER THE HR DEPARTMENT, THE CONTROLLER, OR THE GENERAL MANAGER. FORM 990, PART VI, SECTION B, LINE 15 A COMPENSATION COMMITTEE INCLUDING THE PRESIDENT FROM THE BOARD OF DIRECTORS USES INDUSTRY STANDARDS MIXED WITH EMPLOYEE PERFORMANCE TO DETERMINE COMPENSATION FOR THE GENERAL MANAGER AND OTHER KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 18 THE 990 WILL BE AVAILABLE THROUGH GUIDESTAR'S WEBSITE. HARD COPIES WILL BE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO MEMBERS ONLY BY REQUEST. FORM 990, PART XI, LINE 9: DEBENTURES REDEEMED -164,400.