2021-10-15T14:05:26-05:00 2020-09-30 592840381 Phillips Harvey Group 801 Laurel Oak Drive Suite 303 Naples FL 341082764 990 2019-10-01 590904526 Naples Yacht Club Inc NAPL 2392626648 700 14th Avenue South Naples FL 34102 Joseph W McClanathan Commodore 2392626648 2021-10-15 1 Nathan A Phillips CPA P00189856 2395661600 2019 2022-09-23 18:48:47Z Joseph W McClanathan 700 14th Avenue South Naples FL 34102 8119116 0 X www.naplesyc.org X 1947 FL The Naples Yacht Club (NYC) is a private yacht and social club organized for pleasure, recreation, and other similar nonprofitable purposes. The Club only has two primary activities. Members are able to berth their water vessels at the Club through annual leases and purchase fuel for the vessels. The two largest expenses for this activity are the cost of the fuel and salary costs for the dock master. The other primary activity is the sale of food and beverages at the Club. The Club has multiple dining facilities and is open every day, except for Wednesday. The largest cost categories for this activity are the cost of the food and beverages and labor costs for our kitchen and dining rooms. 9 9 83 0 282795 0 0 0 3995525 4417382 -7484 2772 2090385 2794250 6078426 7214404 0 0 0 0 3050577 3150178 0 0 0 2412564 3043288 5463141 6193466 615285 1020938 20511205 21572938 10706233 10956959 9804972 10615979 X The Naples Yacht Club is a private yacht and social club with a "By Invitation Only" membership policy. The Club shall encourage the sport of yachting and provide excellent boating facilities and activities for its members. Further, the Club shall encourage warm social fellowship among the membership. To this end, the Club shall maintain a first class clubhouse and offer superior dining, outstanding and friendly service and an active and interesting social calendar. The Club should operate on a fiscally responsible basis. The Club shall respect its employees and endeavor to be a "good place to work." 0 0 The Naples Yacht Club (NYC) is a private yacht and social club organized for pleasure, recreation, and other similar nonprofitable purposes. NYC encourages the sport of yachting, promotes the science of seamanship and navigation, the social welfare, entertainment and diversity of its members, and provides and maintains a suitable clubhouse, full-service harbor facilities and boating activities for recreation and use of its 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 8 0 1 83 1 1 1 0 0 0 1 1 1360000 435916 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 FL X Christina Fridley Controller 2392626648 700 14th Avenue South Naples FL 34102 X James R Lozelle Commodore 4.00 X X 0 0 0 Joseph E McClanathan Vice Commodore 4.00 X X 0 0 0 Richard B Maxwell Rear Commodore 4.00 X X 0 0 0 Steven R McGirr Treasurer 4.00 X X 0 0 0 Thomas G Fitzgerald Secretary 4.00 X X 0 0 0 Kathy King Director 2.00 X 0 0 0 John H Rothert Director 2.00 X 0 0 0 Carol Girardin Director 2.00 X 0 0 0 Brett A Pheffer Director 2.00 X 0 0 0 Michael Mooney General Manager 40.00 X 246739 0 13321 Jan Hoffman Executive Chef 40.00 X 123189 0 14358 Christina Fridley Controller 40.00 X 112146 0 20829 482074 0 48508 3 0 1 0 D Garrett Construction Inc 4933 Tamiami Trail N 300 Naples FL 34103 Construction 323902 1 Membership Dues 713910 3208263 3208263 Boat Dockage & Svc Fees 713910 583442 543474 39968 Service Charges 713910 517136 517136 Special Purpose Funds 713910 108211 108211 Miscellaneous 713910 330 330 4417382 2772 2772 1980872 904712 1076160 836105 240055 Capital Initiation Fees 713910 1360000 1360000 Special Capital Assessment 713910 263600 263600 Capital Dues 713910 94490 94490 1718090 7214404 6931609 282795 0 247561 2284040 43643 370517 204417 10450 25000 30867 79997 23323 174204 824560 279755 Activities 474682 Clubhouse & Grounds 395538 Food & Beverage 384026 Real Estate Taxes 153158 187728 6193466 1948476 3301015 86297 91543 133823 162438 144299 92831 26102583 8206312 7688610 17896271 10509700 28840 20511205 21572938 588735 306600 1555681 2094896 8070439 7855154 491378 700309 10706233 10956959 X 9804972 10615979 9804972 10615979 20511205 21572938 X 1020938 -209931 X 0 1 X 1 0 789524 789524 18609311 3997591 14611720 3084373 1587309 1497064 3619375 2621412 997963 17896271 Current portion refundable special capital assessments 2000 Refundable special capital assessments, long-term 33000 Obligation under interest rate SWAP 665309 700309 X 7587336 904712 904712 6682624 531780 531780 7214404 6566398 904712 904712 5661686 531780 531780 6193466 Part X, Line 2: The Club has evaluated its tax position and concluded that the Club has taken no uncertain tax positions that require adjustment to the financial statements to comply with the provision of the accounting guidance for uncertainty in income taxes within the income taxes topic of the FASB Accounting Standards Codification. Part XI, Line 2d - Other Adjustments: Cost of Goods Sold 904,712. Part XI, Line 4b - Other Adjustments: Service Charges 517,136. COGS Ships Store 14,644. Part XII, Line 2d - Other Adjustments: Cost of Goods Sold 904,712. Part XII, Line 4b - Other Adjustments: Service Charges 517,136. COGS Ships Store 14,644. X X X 0 0 0 Michael Mooney General Manager 204727 0 42012 0 0 0 8221 0 5100 0 260060 0 0 0 Form 990, Part VI, Section A, line 6 The Club has members. The purpose of the Club is to operate for the benefit of its members. Form 990, Part VI, Section A, line 7a Members elect the members of the governing body. Form 990, Part VI, Section A, line 7b The Board of Directors is the governing body for the Club. The only decisions that need to be ratified by a majority of the members are changes to the Club's by-laws. Form 990, Part VI, Section B, line 11b The Federal Form 990/990-T is prepared by the Naples Yacht Club's CPA firm then a draft is sent to the Controller. It is reviewed by the Treasurer and audit committee who then approve it and recommend the approval to the Board of Directors, which approve the tax returns before filing. Form 990, Part VI, Section B, line 12c The conflict of interest policy form must be signed annually by all key employees and current and former Board members (former within last 5 years) and it is reviewed annually. Form 990, Part VI, Section B, line 15 The General Manager and Controller participate in and receive numerous compensations surveys for Clubs that are similar to the Naples Yacht Club. The Club constantly compares the salaries and wages of all of their employees with those of other Clubs. The Commodore does the same type of review for the General Manager. The General Manager's bonus is based on the Board of Director's Compensation Committee's annual review. Form 990, Part VI, Section C, line 19 The Club provides its members with annual audited financial statements and any other documents affecting the governance of the Club at its annual meeting. This meeting is generally held in December and is open to all members. The Board of Directors conducts the meeting and holds a question and answer session. In addition, the Club's by-laws are distributed annually to every member. Conflict of interest policies are available upon request. Form 990, Part XI, line 9: Fair Value of interest rate SWAP -209,931.