2022-01-06T15:42:48-07:00 2020-12-31 990 2020-01-01 060714276 MASONS ISLAND YACHT CLUB INC MASO 7036089917 PO Box 465 Mystic CT 06355 Franklin King Treasurer 7036089917 2022-01-05 0 11 1 AAL2 2020 2022-09-23 18:48:47Z X Andrew M Halsey PO Box 315 Mystic CT 06372 402599 0 X miyc.clubexpress.com X 1923 CT To encourage the sport of yachting, provide a place for community entertainment, and promote social intercourse, recreation, and improvement of its members. 12 12 12 30 0 0 220860 221489 85024 59561 5 8 82798 121541 388687 402599 0 0 0 0 86703 96885 0 0 0 246185 269926 332888 366811 55799 35788 929810 982051 -53 -2072 929863 984123 To encourage the sport of yachting, provide a place for community entertainment, and promote social intercourse, recreation, and improvement of its members. 0 0 21353 0 22579 The purpose of the sailing program is to teach junior members of the yacht club how to sail and race small boats. The sailing program includes racing regattas for adult and junior members. Summer employees provide instruction. 19708 0 4460 Tennis & Bocce The purpose of the tennis and bocce programs is to provide tennis facilities to the yacht club members and their guests. The program also teaches junior and adult members to play tennis via group clinics and private lessons. The program includes tournaments for juniors and adults. Instruction is provided by a summer tennis professional and part- 36012 0 16383 Entertainment The purpose of the entertainment program is to provide various events throughout the year for club members and their guests. Events include picnics, cocktail parties, Lobsterfest, dinners, and movie nights. Junior members also have activities, including a Fourth of July bicycle parade and parties. 0 0 0 77073 0 0 0 0 0 0 0 0 0 1 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 0 1 0 0 0 12 1 0 0 0 0 0 29593 0 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X Franklin Gary King 7036089917 110 N Corcoran Street Unit 1905 Durham NC 27701 X Andrew Halsey Commodore 15 0 X X 0 0 0 Victora Christian Vice Commodore 10 0 X X 0 0 0 Kevin Miller Rear Commodore 5 0 X X 0 0 0 Jean Anderson Secretary 5 0 X X 0 0 0 Thomas Cooke Treasurer 20 0 X X 0 0 0 Various Trustees seven Trustee 5 0 X 0 0 0 0 0 0 0 0 0 0 0 0 221489 0 0 0 0 0 221489 Sailing and Regaqtta 711300 22578 22578 0 0 Swimming 711300 890 890 0 0 Social Entertainment and Junior Yacht Club 711300 16383 16383 0 0 Tennis and Bocce 711300 4460 4460 0 0 Rentals 711300 15250 15250 0 0 0 0 0 0 59561 8 8 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Miscellaneous 711300 9930 9930 0 0 Assessments for Emergency 711300 12818 12818 0 0 Capital Assessments 711300 29593 29593 0 0 69200 69200 0 0 121541 402599 181110 0 0 0 0 0 0 0 0 86008 0 0 10877 0 0 0 0 0 0 0 0 11496 0 0 57761 0 0 0 0 0 84268 46598 Property Tax 38021 Sailing and Regatta 2706 Tennis and Bocce 4843 Entertainment and Junior Yacht Club 18006 6227 366811 0 0 0 95180 73132 76083 124786 0 0 750 -718 0 0 0 0 0 0 0 0 0 0 1376907 592056 757797 784851 0 0 0 0 0 0 0 0 0 0 929810 982051 -143 -1664 0 0 0 0 0 0 0 0 0 0 0 0 0 0 90 -408 -53 -2072 X 0 0 0 0 929863 984123 929863 984123 929810 982051 X 35788 0 0 0 0 18472 X 0 0 0 209006 0 209006 660698 0 380361 280337 0 0 0 0 166815 0 41838 124977 340388 0 169857 170531 784851 0 Connecticut Dues Tax Payable -408 -408 X Schedule D, Part X, Line 2 Connecticut Dues Tax credit Form 990, Header, Line B We filed our Form 990 by Certified US Mail. This return was received by the IRS on May 24, 2021. We received a letter from the IRS (refer to:0422604607) notifying us that an electronic return was required and to "resubmit the form electronically." This electronic return is submitted as directed by IRS letter (again refer to: 0422604607). Please note that we received this IRS letter was received on January 3, 2022. Form 990, Part VI, Section A, Line 6 The organization has members. Form 990, Part VI, Section A, Line 7a Officers and Trustees are elected by the members. Form 990, Part VI, Section A, Line 7b Members are required to approve expenditures of more than $50,000 and changes to the Constitution and By-Laws. Form 990, Part VI, Section B, Line 11b A review of the completed Form 990 is conducted by the Treasurer, a previous Treasurer, and the Commodore. Form 990, Part VI, Section B, Line 12c A written conflict of interest policy is given to all new officers and trustees. All relevant employees, contracts, revenues, and expenses are reviewed by the trustees. Form 990, Part VI, Section C, Line 19 The Mason's Island Yacht Club does not make its governing documents, conflict of interest policy or financial statements available to the public. They are available to the membership upon request. Form 990, Part XI, Line 9 The club conducted a review of the depreciation schedules for all active assets and made corrections. We filed our Form 990 by Certified US Mail. This return was filed timely and received by the IRS on May 24, 2021. We received a letter from the IRS (refer to:0422604607) notifying us that an electronic return was required and to "resubmit the form electronically." This electronic return is submitted as directed by IRS letter (again refer to: 0422604607). Please note that we received the referenced IRS letter on January 3, 2022. This is the first year that we were required to file electronically. Our club is managed by uncompensated members who are not accountants and acted in good faith in filing our Form 990 by US Mail (as we had done in the past). We were simply unaware of the new requirement to file electronically.