2021-02-03T13:00:39-06:00 2020-03-31 420714325 RSM US LLP 1555 PALM BEACH LAKES BLVD SUITE 700 WEST PALM BEACH FL 33401 990 2019-04-01 590798689 KEY BISCAYNE YACHT CLUB INC KEYB 3053619171 180 HARBOR DR KEY BISCAYNE FL 331491304 EDUARDO HERNANDEZ TREASURER 3053619171 2021-02-03 1 FRANK LUCAS P00995244 5616971785 2021-02-03 2019 2022-09-23 18:48:47Z GARY GROSS 180 HARBOR DR KEY BISCAYNE FL 331491304 5488881 0 X KBYC.ORG X 1955 FL TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION. 18 18 100 18 325030 33826 0 0 2248034 2276817 -384316 -134775 1980130 1724328 3843848 3866370 0 0 0 0 2661971 2745645 0 0 0 3303083 5628031 5965054 8373676 -2121206 -4507306 11413616 25752769 1913432 18925815 9500184 6826954 KEY BISCAYNE YACHT 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 PROVIDES RESTAURANT AND DOCK FACILITIES FOR ITS MEMBERS AND THEIR 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 25 0 1 100 1 1 1 0 0 0 1 1 0 533231 0 0 0 X 18 18 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X MARGIE ASCIU CONTROLLER 3053619171 180 HARBOR DRIVE KEY BISCAYNE FL 331491394 GARY GROSS COMMODORE 1.00 X X 0 0 0 STEVEN STOLLMAN VICE COMMODORE 1.00 X X 0 0 0 LUIS DE LA CRUZ REAR COMMODORE 1.00 X X 0 0 0 VICKIE GASTON SECRETARY 1.00 X X 0 0 0 EDUARDO L HERNANDEZ TREASURER 1.00 X X 0 0 0 MARY A ROMEU-ALFONSO GOVERNOR 1.00 X 0 0 0 BRIAN CONNELL GOVERNOR 1.00 X 0 0 0 RANDAL I ROMBEIRO GOVERNOR 1.00 X 0 0 0 NANCI E TELLAM GOVERNOR 1.00 X 0 0 0 RANDY CLARK GOVERNOR 1.00 X 0 0 0 KATHY LUBBERS GOVERNOR 1.00 X 0 0 0 JORGE MENDIA GOVERNOR 1.00 X 0 0 0 MICHAEL RICE GOVERNOR 1.00 X 0 0 0 BARBARA LAMAR GOVERNOR 1.00 X 0 0 0 JORGE LLANSO GOVERNOR 1.00 X 0 0 0 THOMAS MCCORMICK GOVERNOR 1.00 X 0 0 0 LUIS FELIPE PORRO GOVERNOR 1.00 X 0 0 0 SCOTT SHARP GOVERNOR (PAST COMMODORE) 1.00 X 0 0 0 DARREN BETZ GENERAL MANAGER 40.00 X 266413 0 31267 STEPHANIE VEGA CONTROLLER 40.00 X 114799 0 10636 TERRY WALKER EXECUTIVE CHIEF 40.00 X 112879 0 20112 JUAN CARLOS ROMERO SAILING DIRECTOR 40.00 X 102517 0 12652 CHRISTINE STEWART MARINA DIRECTOR 40.00 X 115788 0 9601 712396 0 84268 5 0 1 0 0 MEMBERSHIP DUES 713910 1952278 1952278 SAILING PROGRAM 713910 237984 221416 16568 UNUSED SPENDING REQUIREMENT 713910 76623 76623 MARINE 713910 9847 9847 POOL 713910 85 85 2276817 48612 48612 183387 -183387 -183387 -183387 3114909 1439124 1675785 1415935 259850 MISCELLANEOUS 713910 48543 48543 48543 3866370 3724727 325030 -183387 2286549 65353 393743 428204 INTREST RATE SWAP 3190686 CLUB 416684 OTHER MISCELLANEOUS EXP 412424 PROP TAXES, INSURANCE 348118 831915 8373676 464225 2442067 494645 495082 618025 493687 98180 82469 127393 66366 25674199 3715560 8638182 21958639 740537 232429 214459 11413616 25752769 1064445 2188307 14640 12683583 834347 4053925 1913432 18925815 X 9500184 6826954 9500184 6826954 11413616 25752769 X -4507306 1834076 X X 0 1 X 1 0 584046 584046 1091606 286860 804746 863376 852494 10882 23135171 2576206 20558965 21958639 INTEREST RATE SWAP AGREEMENT 4025033 DUES AND FEES COLLECTED IN ADVANCE 28892 4053925 X 5305494 1439124 1439124 3866370 0 3866370 9812800 1439124 1439124 8373676 0 8373676 PART X, LINE 2: 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 TO COMPLY WITH THE PROVISIONS OF THE INCOME TAX TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 1,439,124. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 1,439,124. X 1 1 X 0 0 0 DARREN BETZ GENERAL MANAGER 187913 0 27500 0 51000 0 31267 0 0 0 297680 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION 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 THERE ARE TWO MEMBERSHIP CATEGORIES: REGULAR MEMBERSHIP AND EQUITY MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7B ALL BYLAW CHANGES, DUES INCREASES AND ASSESSMENTS ARE SUBJECT TO APPROVAL BY MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION DOES NOT BELIEVE IT IS EFFECTIVE NOR EFFICIENT FOR THE ENTIRE GOVERNING BOARD TO REVIEW FORM 990 BEFORE FILING. THUS, THE GOVERNING BOARD DELEGATES THE REVIEW OF FORM 990 AND THE RELATED SCHEDULES TO THE FLAG (COMMODORE, VICE COMMODORE, REAR COMMODORE, SECRETARY AND TREASURER). THE FLAG REVIEWS FORM 990 WITH ITS OUTSIDE CPA PREPARERS PRIOR TO THE FILING OF THE FORM. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY OF THE KEY BISCAYNE YACHT CLUB IS DESIGNED TO ASSURE APPROPRIATE DISCLOSURE AND APPROVAL FOR TRANSACTIONS IN WHICH A GOVERNOR; FLAG OFFICER OR KEY EMPLOYEE (THOSE EMPLOYEES THAT HAVE OR SHARE ORGANIZATION-WIDE CONTROL OR INFLUENCE SIMILAR TO THAT OF A FLAG OFFICER OR GOVERNOR) MAY HAVE AN APPARENT OR POTENTIAL CONFLICT OF INTEREST. THE POLICY IS INTENDED TO PROVIDE A PROCEDURE FOR THE DISCLOSURE OF ANY CONFLICTS OF INTEREST THAT MAY ARISE AS A RESULT OF SUCH ACTIVITIES AND TO PROVIDE AN APPROPRIATE MEANS OF ADDRESSING THEM. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD REVIEWS AND APPROVES COMPENSATION FOR THE GENERAL MANAGER. THIS PROCESS INCLUDES THE USE OF COMPARABILITY DATA FOR SIMILAR QUALIFIED PERSONS IN COMPARABLE POSITIONS AT SIMILAR CLUBS. THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENTS ARE DOCUMENTED AS WELL. 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 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: ISSUANCE OF MEMBERSHIP CERTIFICATES 112,000. REDEMPTION OF MEMBERSHIP CERTIFICATES -125,000. INITIATION FEES 804,376. CAPITAL EXPENDITURE ASSESSMENT 1,042,700. FORM 990, PART XII, LINE 2C NO CHANGE FROM PRIOR YEAR