2021-03-11T12:59:46-06:00 2020-10-31 853507350 AWD PC 114 BAY STREET BLDG A EASTON MD 21601 990 2019-11-01 520414916 MILES RIVER YACHT CLUB INC MILE 4107459511 PO BOX 158 ST MICHAELS MD 21663 BILL BOOS TREASURER 4107459511 2021-02-23 1 COREY DUNCAN P00115973 4108224008 2021-02-23 2019 2022-09-23 18:48:47Z BILL BOOS PO BOX 158 ST MICHAELS MD 21663 1843823 0 X MILESRIVERYC.ORG X 1920 MD TO PROVIDE TRADITIONAL EASTERN SHORE ACTIVITIES AND MAINTAIN FACILITIES SURROUNDING THE WATER. 13 13 77 0 -97247 0 849603 869720 196738 164934 0 -333 -25482 -53622 1020859 980699 0 0 0 0 391959 391767 0 0 0 536216 580208 928175 971975 92684 8724 2411605 2885016 1500386 1965073 911219 919943 THE PURPOSE OF THE CLUB IS TO ENCOURAGE TRADITIONAL EASTERN SHORE RECREATIONAL ACTIVITIES ON THE WATER. 0 0 MRYC IS A YACHT CLUB. IT PROVIDES ITS MEMBERS WITH ACTIVITIES AND FACILITIES SURROUNDING THE WATER. ALL PROGRAM SERVICE REVENUE IS COLLECTED IN CONNECTION WITH THESE TAX EXEMPT ACTIVITIES. DUES ARE PAID BY MEMBERS TO CONTINUE THE EXISTENCE OF THE CLUB. THIS INCOME PAYS FOR OPERATIONS OF THE CLUB. THE YACHT CLUB HAS SEVERAL MISCELLANEOUS RELATED ACTIVITIES, FOR EXAMPLE A YEARBOOK IS PUBLISHED ANNUALLY FOR THE USEFULNESS OF THE CLUB. 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 7 0 1 77 0 1 1 0 0 0 0 140340 27385 0 0 0 X 13 13 0 0 0 0 1 1 1 1 1 0 0 1 0 0 0 0 0 0 MD X ORGANIZATION 4107459511 YACHT CLUB ROAD ST MICHAELS MD 21663 X BILL MISCHKE COMMODORE 2.00 X X 0 0 0 LEE BROWN VICE COMMODORE 2.00 X X 0 0 0 ADAM HIGGINS R/C 2.00 X X 0 0 0 KEN FOX F/C 2.00 X X 0 0 0 SHIRLEY BUCCI SECRETARY 2.00 X X 0 0 0 BILL BOOS TREASURER 2.00 X X 0 0 0 GLENN HIGGINS DIRECTOR/GOVENOR 1.00 X 0 0 0 MIKE KEALY DIRECTOR/GOVENOR 1.00 X 0 0 0 JOHN HINES III DIRECTOR/GOVENOR 1.00 X 0 0 0 JAY CAREY DIRECTOR/GOVENOR 1.00 X 0 0 0 TIM PARIS DIRECTOR/GOVENOR 1.00 X 0 0 0 ADAM STEINBERG DIRECTOR/GOVENOR 1.00 X 0 0 0 RON WEBER DIRECTOR/GOVENOR 1.00 X 0 0 0 0 0 0 0 0 0 0 0 869720 869720 ASSOCIATIONS 900099 108122 108122 ENTERTAINMENT/SPEC EVE 900099 51008 51008 POOL 900099 5464 5464 SAIL COMMITTEE 900099 340 340 164934 166723 166723 0 0 1500 1833 -333 -333 -333 597321 694568 -97247 -97247 MISCELLANEOUS 900099 43625 43625 43625 980699 208226 -97247 0 345724 46043 7050 29223 4605 27419 60034 68450 138596 45611 REPAIRS AND MAINTENANCE 79657 ENTERTAINMENT, SPECIAL 69694 SUPPLIES 54263 BOOKKEEPING 27500 -31894 971975 120090 185947 67088 88735 29564 31264 35717 26518 5132243 2587660 2151005 2544583 8141 7969 2411605 2885016 59538 137349 109051 123305 1331797 1704419 1500386 1965073 X 911219 919943 911219 919943 2411605 2885016 8724 0 X X 1 X 0 1 0 9833 9833 530350 378976 151374 4066397 1725166 2341231 323854 312451 11403 201809 171067 30742 2544583 X PART X, LINE 2: THE CLUB IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE, EXCEPT FOR ACTIVITY REPRESENTING UNRELATED BUSINESS INCOME AND INTEREST INCOME GREATER THAN $1,000. UNRELATED BUSINESS INCOME IS INCLUDED IN INCOME ON THE STATEMENT OF REVENUES, EXPENSES AND CHANGES IN MEMBERS EQUITY. THE NET ACTIVITY FROM UNRELATED BUSINESS ACTIVITIES RESULTED IN A NET LOSS FOR THE YEAR ENDED OCTOBER 31, 2019. THERE WERE NO DEFERRED INCOME TAXES IN 2019. THE CLUB ASSESSES ITS INCOME TAX POSITIONS AND RECORDS TAX BENEFITS FOR ALL YEARS SUBJECT TO EXAMINATION BASED UPON MANAGEMENT'S EVALUATION OF THE FACTS, CIRCUMSTANCES, AND INFORMATION AVAILABLE AT THE REPORTING DATE. THE CLUB'S FEDERAL FORMS 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, AND FORMS 990-T, EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS, ARE GENERALLY SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, FOR THREE YEARS AFTER THEY WERE FILED. AT OCTOBER 31, 2020, MANAGEMENT BELIEVES THERE ARE NO UNCERTAIN TAX POSITIONS. FORM 990, PART VI, SECTION A, LINE 6 THE YACHT CLUB CONSISTS OF MEMBERS. THERE ARE SIX CLASSES OF MEMBERSHIP: SENIOR, INTERMEDIATE, JUNIOR, HONORED SERVICES, HONORARY AND ASSOCIATE. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF GOVERNORS APPOINTS A NOMINATING COMMITTEE WHO PROPOSES A SLATE OF ELIGIBLE MEMBERS FOR ELECTION TO THE BOARD. THE NOMINEES ARE PRESENTED AT THE SEPTEMBER QUARTERLY MEETING. THE NEWLY ELECTED BEGIN THEIR TERM ON NOVEMBER 1 OF EACH YEAR. ONLY SENIOR, INTERMEDIATE AND HONORED SERVICES MEMBERS MAY VOTE OR HOLD OFFICE. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING ACTIONS REQUIRE AUTHORIZATION BY THE MEMBERSHIP AT THE MEMBERSHIP MEETING AND CAN ONLY BE CONSIDERED IF THE MEMBERSHIP HAS BEEN INFORMED OF THE PROPOSED ACTION AT LEAST 30 DAYS BEFORE THE MEETING: INCREASE IN DUES, ASSESSMENTS, BORROWING OF FUNDS, DISBURSEMENT FROM THE PROPERTY IMPROVEMENT FUND, SELL OR TRANSFER OF OWNERSHIP OF ANY CLUB OWNED REAL ESTATE. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF A DRAFT FORM 990 IS PRESENTED AND REVIEWED BY THE TREASURER BEFORE THE ACTUAL FILING. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO ALL MEMBERS OF THE CLUB. OUTSIDE REVIEW OF SUCH DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: GENERAL BOARD OF GOVERNORS RESPONSIBILITY MRYC FUNDING LLC 24750 YACHT CLUB ROAD ST MICHAELS MD 21663 260894123 CONDUIT FOR REAL ESTATE LENDING PURPOSES MD 0 0