2021-11-08T13:50:27-06:00 2020-12-31 271728945 PKF O'CONNOR DAVIES LLP 40 WESTMINSTER STREET SUITE 600 PROVIDENCE RI 02903 990 2020-01-01 041271260 EASTERN POINT YACHT CLUB EAST 9782833520 125 EASTERN POINT BLVD GLOUCESTER MA 01930 JACQUELYN C BELL TREASURER 9782833520 2021-11-05 1 JACQUELYN BELL 999009999 EDWARD F MCCRORY P01469593 4016216200 2021-11-05 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z JACQUELYN C BELL 125 EASTERN POINT BLVD GLOUCESTER MA 01930 1637547 0 X WWW.EPYC.NET X 1930 MA TO PROVIDE MEANS FOR THE RECREATION AND ENTERTAINMENT OF ITS MEMBERS, BY ESTABLISHING AND MAINTAINING A CLUB WITH THE PROPER BUILDINGS, GROUNDS, AND FACILITIES TO PROMOTE YACHTING AND SOCIAL ACTIVITIES. 12 12 60 0 31639 2455 57950 109819 1369700 1216246 -3452 2134 12383 -83079 1436581 1245120 0 0 0 0 575964 611089 0 0 0 653019 629559 1228983 1240648 207598 4472 1679303 1654303 1272685 1243213 406618 411090 THE CLUB AFFORDS MEMBERS AND GUESTS A TRULY UNIQUE LOCATION WITH A CHARMING CLUBHOUSE, DINING FACILITIES AND ACCOMMODATIONS, AS WELL AS FUNCTION AND SPECIAL EVENT CAPABILITIES. 0 0 CONDUCTING NORMAL OPERATIONS OF A YACHT CLUB FOR THE BENEFIT OF ITS MEMBERS. WATERFRONT FACILITIES FOR THE USE OF MEMBERS TO ACCESS AND LAUNCH THEIR BOATS. JUNIOR SAILING, RACING AND CRUISING, GUEST ROOM RENTALS. 0 1 0 0 0 0 0 0 0 1 0 0 0 0 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 5 0 60 1 1 1 0 0 0 0 121507 44339 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 0 1 1 0 X THE CLUB 9782833520 125 EASTERN POINT BLVD GLOUCESTER MA 01930 BILL RAND COMMODORE 10.00 X X 0 0 0 STUART HUNZIKER VICE COMMODORE 10.00 X X 0 0 0 BETSY BROWN REAR COMMODORE 10.00 X X 0 0 0 TOM JANIS SECRETARY 10.00 X X 0 0 0 JACQUELYN BELL TREASURER 10.00 X X 0 0 0 MIMI TAMBONE GOVERNOR 5.00 X 0 0 0 CATHY ROSSANO GOVERNOR 5.00 X 0 0 0 SARA DEL RIO GOVERNOR 5.00 X 0 0 0 CLIFFORD LONG GOVERNOR 5.00 X 0 0 0 BEN RICHARDSON GOVERNOR 5.00 X 0 0 0 MATT LYNCH GOVERNOR 5.00 X 0 0 0 TRACY DAVIS GOVERNOR 5.00 X 0 0 0 STEVEN SHARAD GENERAL MANAGER 40.00 X 168728 0 22233 168728 0 22233 1 0 1 0 0 109819 109819 MEMBERSHIP DUES AND AS 713910 1087128 1087128 WATERFRONT 713910 79783 75870 3913 RENTALS 713910 48841 20193 28648 JUNIOR SAILING 713910 494 494 1216246 2134 2134 294309 392427 -98118 -94403 -3715 OTHER 713910 15039 14380 659 15039 1245120 1103662 31639 0 168728 319245 55706 67410 74457 1164 24939 27067 108862 76 7024 116514 55075 MAINTENANCE AND REPAIRS 152256 SUPPLIES 34074 MISCELLANEOUS 10418 TRAINING 5002 12631 1240648 22204 21126 287984 350725 22641 6238 24696 28746 37706 38212 3035508 1826252 1284072 1209256 1679303 1654303 20849 37475 863497 882803 388339 322935 1272685 1243213 X 406618 411090 406618 411090 1679303 1654303 4472 0 X X 1 X 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 17591 17591 1670753 863897 806856 648301 470795 177506 698863 491560 207303 1209256 X 1637547 392427 392427 1245120 0 1245120 1633075 392427 392427 1240648 0 1240648 PART X, LINE 2: THE CLUB RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE CLUB HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE CLUB IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO THE 2017 RETURN YEAR. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD - FOOD AND BEVERAGE 392,427. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD - FOOD AND BEVERAGE 392,427. X X X 0 0 0 STEVEN SHARAD GENERAL MANAGER 168728 0 0 0 0 0 0 0 22233 0 190961 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS WHO ELECT THE MEMBERS OF THE GOVERNING BODY, AND WHO APPROVE SIGNIFICANT DECISIONS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ARE NOMINATED FOR PARTICULAR BOARD POSITIONS AND ELECTED AT THE ANNUAL MEETING. THERE IS A NATURAL PROCESSION OF THE BRIDGE/EXECUTIVE COMMITTEE. REAR COMMODORE MOVES TO VICE COMMODORE AND VICE COMMODORE MOVES TO COMMODORE. EACH MEMBER HAS THE RIGHT TO STEP DOWN. FORM 990, PART VI, SECTION A, LINE 7B THE BRIDGE COMMITTEE (COMMODORE, VICE COMMODORE, REAR COMMODORE, TREASURER AND SECRETARY) AND THE REMAINING BOARD OF GOVERNORS SHALL HAVE POWER TO MAKE GENERAL RULES GOVERNING THE USE OF THE CLUBHOUSE AND GROUNDS BY THE MEMBERS AND THEIR GUESTS AND SHALL HAVE THE FULL CONTROL OF THE AFFAIRS, FUNDS AND PROPERTY OF THE CLUB. ALL SIGNIFICANT DECISIONS AND CHANGES TO THE BY-LAWS SHALL BE AUTHORIZED BY A MAJORITY OF MEMBER VOTES CAST AT A SPECIAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S FORM 990 WAS REVIEWED AND APPROVED BY THE TREASURER AND FINANCE COMMITTEE PRIOR TO BEING FILED WITH THE IRS. SUBSEQUENTLY, THE FORM 990 IS PROVIDED TO THE ENTIRE BOARD OF GOVERNORS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY SHALL BE UPDATED ON A REGULAR BASIS TO REFLECT EVOLVING PRACTICES AND LAWS IN THE AREA, AND SHALL BE GIVEN TO THE MEMBERSHIP, AND TO ALL NEWLY ELECTED BOARD OF GOVERNORS TO ENSURE THAT ALL INDIVIDUALS HAVE KNOWLEDGE OF THE POLICY, AND ARE PREPARED TO COMPLY THEREWITH. ALL POTENTIAL CONFLICTS ARE PRESENTED IN WRITING TO THE SECRETARY AND REVIEWED BY THE BRIDGE COMMITTEE AND BOARD OF GOVERNORS TO DETERMINE A RESOLUTION. ALL CONFLICTS ARE DISCLOSED IN THE BOARD OF GOVERNORS MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15 THE BRIDGE COMMITTEE DETERMINES AND APPROVES COMPENSATION INCREASES FOR THE GENERAL MANAGER AND OTHER KEY EMPLOYEES OF THE CLUB. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS FINANCIAL STATMENTS/GOVERNING DOCUMENTS/CONFLICT OF INTEREST POLICY AVAILABLE TO THE GENERAL PUBLIC. THE FINANCIAL STATMENTS AND ALL OTHER DOCUMENTS ARE AVAILABLE FOR MEMBERS TO VIEW UPON REQUEST, BY APPOINTMENT ONLY, AND WITHIN 24 HOURS OF THE REQUEST. FORM 990, PART XI, ITEM 2C THE ORGANIZATION'S FINANCE COMMITTEE HAS DIRECT OVERSIGHT AND RESPONSIBILITY FOR THE SELECTION OF ITS OUTSIDE CPA, AS WELL AS ITS ANNUAL FINANCIAL STATEMENT AUDIT. THERE WAS NO CHANGE IN THIS PROCESS FROM THE PRIOR YEAR. PAGE 6, SECTION B, LINES 13&14 THE CLUB DOES HAVE A FRAUD/WHISTLEBLOWER HOTLINE. INFORMATION ABOUT THE HOTLINE IS POSTED IN THE CLUBHOUSE WHERE ALL EMPLOYEES CAN SEE AND MAKE USE OF IT IF NECESSARY. IN REGARDS TO THE DOCUMENT RETENTION POLICY, THE CLUB RETAINS ALL DOCUMENTS IN COMPLIANCE WITH THE IRS REGULATIONS.