2021-03-13T12:06:08-06:00 2020-04-30 721396621 CARR RIGGS & INGRAM LLC 3300 PGA BOULEVARD SUITE 700 PALM BEACH GARDENS FL 33410 990 2019-05-01 590165090 BISCAYNE BAY YACHT CLUB INC BISC 3058586303 2540 SOUTH BAYSHORE DRIVE MIAMI FL 33133 PETER T PRUITT JR TREASURER 3058586303 2021-03-10 1 JOSEPH RISSE CPA P00708318 5614270300 2021-03-10 2019 2022-09-23 18:48:47Z PETER T PRUITT JR 2540 SOUTH BAYSHORE DRIVE MIAMI FL 33133 4064768 0 X NONE (E-MAIL: BBYC@BISCAYNEBAYYACHTCLUB.COM X 1887 FL ENCOURAGEMENT,IMPROVEMENT AND ENJOYMENT OF SAILING & ENJOYMENT OF SOCIAL CONTACT & ENTERTAINMENT. 15 15 20 0 71491 60915 0 0 1333383 1493774 81016 -74707 487677 385144 1902076 1804211 0 0 0 0 669398 691967 0 0 0 1217034 991309 1886432 1683276 15644 120935 8029808 8304047 764777 1017210 7265031 7286837 THE PURPOSES ARE THE ENCOURAGEMENT, IMPROVEMENT AND THE ENJOYMENT OF SAILING AS A SPORT AND THE ENJOYMENT BY ITS MEMBERS OF SOCIAL CONTACT, ENTERTAINMENT AND GOOD FELLOWSHIP. 0 0 THE CLUB PROVIDES FOOD, BEVERAGE, AND DOCK FACILITIES AND SERVICES TO APPROXIMATELY 340 MEMBERS. 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 0 0 0 0 1 37 0 1 20 1 1 1 0 0 0 1 1 167900 182422 0 0 0 X 15 15 0 0 0 0 1 1 1 1 1 0 0 1 0 1 1 1 0 0 FL X NEAL CHANDA MANAGER 3058586303 2540 S BAYSHORE DRIVE MIAMI FL 33133 CHRISTOPHER E KNIGHT COMMODORE 10.00 X X 0 0 0 ERIC THYRRE VICE COMMODORE 10.00 X X 0 0 0 JOHN M PENNEKAMP SECRETARY 10.00 X X 3050 0 0 PETER T PRUITT JR TREASURER 12.00 X X 3050 0 0 JEFFREY NEHMS REAR COMMODORE 10.00 X X 0 0 0 CHRISTOPHER COBB DIRECTOR 4.00 X 0 0 0 STEVEN OWENS DIRECTOR 4.00 X 0 0 0 EDGAR BELEVAL DIRECTOR 4.00 X 0 0 0 JOHN BRYAN DIRECTOR 4.00 X 1525 0 0 BRUCE HARPER DIRECTOR 4.00 X 3050 0 0 DAVID BIANCHI DIRECTOR 4.00 X 0 0 0 CHRIS DAMIAN DIRECTOR 4.00 X 0 0 0 CHARLES KLEIN DIRECTOR 4.00 X 0 0 0 STEPHEN MOYNAHAN DIRECTOR 4.00 X 0 0 0 NEAL CHANDA GENERAL MANAGER 40.00 X 98000 0 8289 108675 0 8289 0 0 0 0 DOCK & MARINE CONSTRUCTION CORP 752 NE 79TH STREET MIAMI FL 33138 CONSTRUCTION 119200 MAHONEY CONSTRUCTION INC 16801 SW 84TH AVENUE MIAMI FL 33157 CONSTRUCTION 102249 2 MEMBERSHIP DUES 713910 885115 885115 DOCKS AND HARBOR 713910 523916 424029 99887 YACHT AND CLUB ACTIVITIES 713910 84743 84743 1493774 85144 85144 1835174 1994752 273 -159578 -273 -159851 -159578 -273 600491 265532 334959 288921 46038 MISCELLANEOUS INCOME 713910 50185 50185 50185 1804211 1732993 71491 -273 147764 429341 71748 43114 110815 15797 53770 225680 1894 192211 135294 YACHTING AND CLUB ACTIV 111916 SUPPLIES 69120 MISCELLANEOUS 55914 INCOME TAXES 18898 1683276 647052 823322 1346997 1333605 191813 193202 37783 47150 48791 63520 6398428 2229519 4039105 4168909 1714136 1672115 4131 2224 8029808 8304047 147995 73494 616782 843716 100000 764777 1017210 X 7265031 7286837 7265031 7286837 8029808 8304047 120935 -99129 0 X X 1 X 0 1 0 0 656243 656243 1891007 861585 1029422 556011 357386 198625 3295167 1010548 2284619 4168909 X PART X, LINE 2: THE CLUB UTILIZES THE ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ASC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. IT ALSO PROVIDES GUIDANCE FOR DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION. IN ACCORDANCE WITH THE DISCLOSURE REQUIREMENTS, THE CLUB'S POLICY ON STATEMENT OF ACTIVITY CLASSIFICATION OF INTEREST AND PENALTIES RELATED TO INCOME TAX OBLIGATIONS IS TO INCLUDE SUCH ITEMS AS PART OF ADMINISTRATIVE AND GENERAL EXPENSES. AS OF APRIL 30, 2020, THE CLUB HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE CLUB BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR FISCAL YEARS PRIOR TO 2017. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS A NOT-FOR-PROFIT, MEMBER-OWNED PRIVATE CLUB. MEMBERSHIP IS COMPOSED OF APPROXIMATELY 340 EX-OFFICIO, HONORARY, SENIOR, JUNIOR, AND FLAG MEMBERS. SENIOR MEMBERS ENJOY ALL THE PRIVILEGES OF THE CLUB AND MAY VOTE AT MEMBERSHIP MEETINGS. JUNIOR AND FLAG MEMBERS MAY ENJOY THE FACILITIES AND SERVE ON COMMITTEES OF THE CLUB, BUT THEY DO NOT VOTE OR HOLD OFFICE IN THE CLUB. FORM 990, PART VI, SECTION A, LINE 7A SENIOR MEMBERS COMPRISE THE ONLY CLASS OF MEMBERSHIP ENTITLED TO VOTE AT MEETINGS OF THE CLUB MEMBERSHIP AND TO HOLD OFFICE IN THE CLUB. FORM 990, PART VI, SECTION A, LINE 7B AMENDMENTS TO THE CLUB CONSTITUTION OR BY-LAWS REQUIRES A MAJORITY VOTE OF A QUORUM OF THE MEMBERSHIP PRESENT AT THE MEMBERSHIP MEETING. FORM 990, PART VI, SECTION B, LINE 11B THE CLUB DOES NOT BELIEVE IT IS EFFECTIVE NOR EFFICIENT FOR THE ENTIRE GOVERNING BOARD TO REVIEW FORM 990 BEFORE FILING. THUS, WHILE EVERY MEMBER OF THE BOARD RECEIVES A COPY OF THE RETURN PRIOR TO FILING, THE GOVERNING BOARD DELEGATES THE REVIEW OF FORM 990 AND RELATED SCHEDULES TO THE COMMODORE, TREASURER AND GENERAL MANAGER. THE COMMODORE, TREASURER AND GENERAL MANAGER REVIEW THE ENTIRE FORM 990 WITH THE CLUB'S OUTSIDE CPA PRIOR TO FILING THE FORM WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF GOVERNORS USES SALARY INFORMATION FROM COMPARABLE SOCIAL CLUBS IN THE LOCAL COMMUNITY DURING ITS PERFORMANCE REVIEWS OF THE GENERAL MANAGER; COMPENSATION AMOUNTS ARE DETERMINED ACCORDINGLY. FORM 990, PART VI, SECTION C, LINE 18 THE CLUB'S 990 IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE CLUB'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE FOR INSPECTION AT THE CLUB. FORM 990, PART XII, LINE 2C THE CLUB HAS AN AUDIT COMMITTEE RESPONSIBLE FOR INVESTIGATING THE FINANCIAL CONDITION OF THE CLUB. IN PRIOR YEARS, THE COMMITTEE PERFORMED AN INTERNAL INSPECTION AND REPORTED TO THE BOARD. FOR THE FISCAL YEAR ENDED APRIL 30, 2018 AND FORWARD, THE COMMITTEE HIRED AN INDEPENDENT ACCOUNTANT TO PERFORM A REVIEW OF THE FINANCIAL STATEMENTS.