2022-03-08T14:45:18-06:00 2021-06-30 580692043 MAULDIN & JENKINS LLC 1401 MANATEE AVE W STE 1200 BRADENTON FL 34205 990 2020-07-01 590595395 BRADENTON YACHT CLUB INC BRAD 9417225936 4307 SNEAD ISLAND ROAD PALMETTO FL 34221 JOHN IZMIRLIAN VICE COMMODORE 9417225936 2022-02-21 1 JOHN IZMIRLIAN 999009999 BRIAN CARTER P00536712 9417474483 2022-02-21 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z JOHN IZMIRLIAN 4307 SNEAD ISLAND ROAD PALMETTO FL 34221 3777156 0 X WWW.BRADENTONYACHTCLUB.COM X 1968 FL THE BRADENTON YACHT CLUB IS A MEMBER-OWED, PRIVATE YACHT CLUB WHICH SERVES ITS MEMBER FAMILIES BY PROVIDING BOATING, RECREATION AND SOCIAL ACTIVITIES, AND MAINTAINS AN EXTENSIVE CLUB CAMPUS AND MARINA FOR THE MEMBERSHIP TO ENJOY CLUB ACTIVITIES AND TO CONNECT WITH OTHER MEMBERS WHO ARE INCLINED TO THE BOATING LIFESTYLE. IN ADDITION, BYC REACHES OUT TO THE BROADER, NON-MEMBER BOATING COMMUNITIES BY SPONSORING YOUTH SAILING, FISHING TOURNAMENTS, REGATTAS AND BOAT PARADES. BYC IS ALSO A FOUNDING MEMBER OF THE FLORIDA COUNCIL OF YACHT CLUBS WHICH PROVIDES RECIPROCITY BETWEEN OUR CLUB AND THE OTHER MEMBER-OWNED YACHT CLUBS IN THE FCYC. 16 16 70 150 172703 338 0 0 3013260 3256575 2993 401 91547 90789 3107800 3347765 0 0 0 0 1411907 1441449 0 0 0 1618596 1715155 3030503 3156604 77297 191161 3677585 4567726 205590 1577661 3471995 2990065 X THE BRADENTON YACHT CLUB IS A MEMBER-OWED, PRIVATE YACHT CLUB WHICH SERVES ITS MEMBER FAMILIES BY PROVIDING BOATING, RECREATION AND SOCIAL ACTIVITIES, AND MAINTAINS AN EXTENSIVE CLUB CAMPUS AND MARINA FOR THE MEMBERSHIP TO ENJOY CLUB ACTIVITIES AND TO CONNECT WITH OTHER MEMBERS WHO ARE INCLINED TO THE BOATING LIFESTYLE. IN ADDITION, BYC REACHES OUT TO THE BROADER, NON-MEMBER BOATING COMMUNITIES BY SPONSORING YOUTH SAILING, FISHING TOURNAMENTS, REGATTAS AND BOAT PARADES. BYC IS ALSO A FOUNDING MEMBER OF THE FLORIDA COUNCIL OF YACHT CLUBS WHICH PROVIDES RECIPROCITY BETWEEN OUR CLUB AND THE OTHER MEMBER-OWNED YACHT CLUBS IN THE FCYC. 0 0 1724116 1268600 RESTAURANT AND BAR- THE BRADENTON YACHT CLUB PROVIDES DINING AND BAR FACILITIES TO ITS MEMBERS FOR REGULAR USE. 175305 249754 YACHT BASIN- THE BRADENTON YACHT CLUB PROVIDES BOAT SLIPS AND STORAGE SPACE FOR THE USE OF MEMBERS OF THE CLUB. 437292 1657645 OPERATION OF A MEMBERSHIP YACHT CLUB. 2336713 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 24 0 70 1 1 1 0 0 0 0 0 0 136519 171365 0 0 0 X 16 16 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X X ALICE MCCANN CONTROLLER 9417225936 4307 SNEAD ISLAND ROAD PALMETTO FL 34221 THOMAS GRUBB COMMODORE 2.80 X X 0 0 0 JOHN IZMIRLIAN VICE COMMODORE 2.30 X X 0 0 0 CINDY RHATEGAN REAR COMMODORE 2.70 X X 0 0 0 CECILE STANLEY SECRETARY 2.50 X X 0 0 0 SUSAN TIBBITS TREASURER 2.80 X X 0 0 0 BILL WHEELER PAST COMMODORE 2.30 X 0 0 0 LINDA ENBERG DIRECTOR 2.30 X 0 0 0 TANA MCCLAIN DIRECTOR 2.30 X 0 0 0 HEATH DAUGHTRY DIRECTOR 2.30 X 0 0 0 ROBIN MOSHER DIRECTOR 2.30 X 0 0 0 JEANNE REEVES DIRECTOR 2.30 X 0 0 0 JANIE FINCK DIRECTOR 2.30 X 0 0 0 BILL KAKLIS DIRECTOR 2.30 X 0 0 0 HOWIE STEIN DIRECTOR 2.30 X 0 0 0 BOB MURPHY DIRECTOR 2.30 X 0 0 0 DR MADISON EASTERLING DIRECTOR 2.30 X 0 0 0 GEORGE GORDON GENERAL MANAGER 40.00 X 146672 0 4199 ALICE MCCANN CONTROLLER 40.00 X 92475 0 4199 239147 0 8398 1 0 1 0 0 MEMBERSHIP DUES & ASSE 713910 1566856 1566856 RESTAURANT AND BAR 722100 1439965 1268600 171365 BASIN RENTAL 532000 249754 249754 3256575 1338 1338 1500 2437 -937 -937 -937 481361 426954 54407 54407 OTHER REVENUE 900099 36382 36382 36382 3347765 3175999 172703 -937 269674 928660 125132 117983 22714 135352 56378 275041 2173 556 208722 116113 FOOD AND BAR EXPENSE 610396 MISCELLANEOUS 116888 PROPERTY TAXES 64215 ENTERTAINMENT 54383 52224 3156604 1000 250 1067147 1853417 179613 244422 84525 131673 70086 76108 5102838 2840982 2275214 2261856 3677585 4567726 204684 221660 906 1019522 0 336479 205590 1577661 X 3471995 2990065 3471995 2990065 3677585 4567726 191161 -673091 0 X X 0 1 X 1 0 64704 64704 4498081 2430761 2067320 540053 410221 129832 2261856 PPP LOAN 336479 336479 X 3774719 0 3774719 -426954 -426954 3347765 3583558 426954 426954 3156604 0 3156604 PART X, LINE 2: THE CLUB IS EXEMPT FROM INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(7) OF THE U.S. INTERNAL REVENUE CODE AND HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE NOT TO BE A PRIVATE FOUNDATION UNDER SECTION 509(A) OF THE CODE. THE CLUB RECOGNIZES THE FINANCIAL STATEMENT EFFECTS FROM A TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX EXEMPT STATUS OF THE CLUB AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS INCOME TAX (UBIT). THE ASSESSMENT OF THE TECHNICAL MERITS OF A TAX POSITION IS A MATTER OF JUDGMENT. THE CLUB BELIEVES THAT ALL ITS TAX POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION. THE CLUB FILES ITS FORM 990 IN THE U.S. FEDERAL AND FLORIDA JURISDICTIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: COGS- FUEL, MERCHANDISE, AND WINE SOCIETY -426,954. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS- FUEL, MERCHANDISE, AND WINE SOCIETY 426,954. X 0 0 0 GEORGE GORDON GENERAL MANAGER 146672 0 0 0 0 0 0 0 4199 0 150871 0 0 0 FORM 990, PART VI, SECTION A, LINE 7A A NOMINATING COMMITTEE RECOMMENDS BOARD POSITIONS, BUT NOMINATIONS ARE ALSO ACCEPTED FROM MEMBERSHIP DURING THE VOTING PROCESS. FORM 990, PART VI, SECTION A, LINE 7B ANY EXPENSE GREATER THAN $45,000 REQUIRES MEMBERSHIP APPROVAL. THE LIMITATION DOES NOT APPLY TO NORMAL BUDGETED OPERATING EXPENSES. FORM 990, PART VI, SECTION B, LINE 11B IT IS THE RESPONSBILITY OF THE BRADENTON YACHT CLUB TREASURER AND FINANCE COMMITTEE TO REVIEW THE FORM 990 IN DETAIL AFTER IT IS PREPARED BY THE CLUB'S OUTSIDE AUDITORS AND BEFORE IT IS FILED EACH YEAR. THIS REVIEW SHOULD INCLUDE DETERMINING THAT THE TRANSACTIONS REPORTED REPRESENT FAIRLY THE CLUB'S FINANCIAL ACTIVITY FOR THE REPORTING PERIOD AND THAT ALL OTHER DISCLOSURERS APPEAR TO BE REASONABLE AND COMPLETE. ONCE THIS REVIEW IS COMPLETE AND APPROVED, THE FINANCE COMMITTEE WILL RECOMMEND TO THE BOARD THAT THE RETURN BE FILED, AS PREPARED AND REVIEWED, BY THE REQUIRED DUE DATE. THE TREASURER SHOULD PRESENT THE FINANCE COMMITTEE'S RECOMMENDATIONS REGARDING THE FORM 990 TO THE FULL BOARD AND GIVE THEM THE OPPORTUNITY TO REVIEW A COPY OF THE FORM BEFORE IT IS FILED. THE BOARD SHOULD HAVE THE FINAL VOTE TO ACCEPT THE RETURN, AS PREPARED, FOR FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C INDIVIDUALS AND MEMBERS ACTING ON BEHALF OF THE BRADENTON YACHT CLUB ARE OBLIGATED TO AVOID AND/OR DISCLOSE ETHICAL LEGAL, FINANCIAL, OR OTHER CONFLICTS OF INTEREST INVOLVING THE CLUB, AND REMOVE THEMSELVES FROM A POSITION OF DECISION-MAKING AUTHORITY WITH RESPECT TO ANY CONFLICT SITUATION INVOLVING THE CLUB. EMPLOYEES AND BOARD MEMBERS ARE REQUIRED TO FILL OUT A CONFLICT OF INTEREST QUESTIONNAIRE AND UPDATE IT ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 IT IS THE RESPONSIBILITY OF THE BRADENTON YACHT CLUB EXECUTIVE COMMITTEE FOR SETTING THE COMPENSATION PACKAGE FOR THE CLUB GENERAL MANAGER AS PART OF NEGOTIATING HIS OR HER EMPLOYMENT CONTRACT WITH APPROVAL BY THE BOARD OF DIRECTORS. IT IS THE RESPONSIBILITY OF THE CLUB GENERAL MANAGER FOR RECOMMENDING THE COMPENSATION PACKAGE FOR ALL KEY MANAGEMENT PERSONNEL REPORTING TO HIM/HER, SUBJECT TO THE REVIEW AND APPROVAL OF TEH BOARD OF DIRECTORS. THE PROCESS FOR EVALUATING THE CLUB MANAGER'S COMPENSATION INVOLVES THE EXECUTIVE COMMITTEE'S RESEARCHING AND CONSIDERING THE FOLLOWING FACTORS: 1. IF NEW TO THE JOB, PRIOR EXPERIENCE, QUALIFICATIONS AND JOB REFERENCES FOR THE CLUB MANAGER PRIOR TO COMING TO BYC. 2. EXISTING MANAGER--HIS/HER PERFORMANCE MEASURED AGAINST THE AGREED UPON GOALS FOR THE PAST YEAR. 3. TREASURER'S RESEARCH OF COMPENSATION PACKAGES OFFERED TO OTHER CLUB MANAGERS THROUGH THE ANNUAL FCYC REPORT OR BY CONSULTING FORM 990S TO ENSURE THAT THE CLUB MANAGER'S COMPENSATION IS COMPARABLE WITH OTHER SIMILAR CLUBS, CONSIDERING CLUB SIZE AND METRO AREA. 4. THE CLUB'S SIZE AND ANNUAL BUDGET. THE TREASURER WILL REPORT HIS/HER FINDINGS TO THE EXECUTIVE COMMITTEE ANNUALLY. THE EXECUTIVE COMMITTEE WILL THEN CONSIDER ADJUSTMENTS OR MODIFICATIONS BEFORE APPROVING CLUB MANAGER'S CONTRACT. THE CLUB MANAGER WILL ANNUALLY CONDUCT A SIMILAR REVIEW OF OTHER MANAGEMENT TEAM SALARIES IN RELATION TO OTHER CLUBS AND SHARE HIS/HER FINDINGS WITH THE BOARD OF DIRECTORS PRIOR TO COMPLETION OF THE ANNUALL PERFORMANCE REVIEW OF EACH KEY MANAGEMENT STAFF MEMBER. FORM 990, PART VI, SECTION C, LINE 19 ALL REQUIRED DISCLOSURES ARE MADE AVAILABLE UPON REQUEST OR AT GUIDESTAR.ORG. FORM 990, PART XII, LINE 2C THE FINANCE COMMITTEE REVIEWS AND APPROVES THE AUDITED FINANCIAL STATEMENTS PRIOR TO THEIR ISSUANCE. THIS PROCESS IS UNCHANGED FROM THE PRIOR YEAR.