2022-08-30T14:05:59-05:00 2021-10-31 271728945 PKF O'CONNOR DAVIES LLP 40 WESTMINSTER STREET SUITE 600 PROVIDENCE RI 02903 990 2020-11-01 041649850 NANTUCKET YACHT CLUB NANT 5082281400 1 SO BEACH STREET PO BOX 667 NANTUCKET MA 02554 EUGENE H CLAPP III TREASURER 5082281400 2022-08-02 1 EUGENE CLAPP III 999009999 BRENDA RUSSELL P01290261 4016216200 2022-08-02 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z EUGENE H CLAPP III 1 SO BEACH STREET PO BOX 667 NANTUCKET MA 02554 8518660 0 X WWW.NANTUCKETYACHTCLUB.ORG X 1920 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, SPORTS AND SOCIAL ACTIVITIES. 22 22 91 146 15232 0 0 0 5951499 6250323 255 85 109608 437151 6061362 6687559 0 0 0 0 1723208 2287632 0 0 0 3527196 3826537 5250404 6114169 810958 573390 20359857 19886447 3036487 1989687 17323370 17896760 X 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, SPORTS AND SOCIAL ACTIVITIES. 0 0 CONDUCTING NORMAL OPERATIONS OF A YACHT CLUB FOR THE BENEFIT OF ITS MEMBERS. WATERFRONT FACILITIES FOR THE USE OF MEMBERS TO LAUNCH THEIR BOATS. TENNIS TOURNAMENTS, JUNIOR PROGRAMS, LESSONS AND CLINICS ARE OFFERED TO ALL MEMBERS. ENTERTAINMENT, RACING AND SAILING ARE OFFERED FOR THE MEMBERS TO ENJOY. 0 0 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 1 0 0 1 15 0 91 1 1 1 0 0 0 0 1603272 113749 0 0 0 X 22 22 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 0 1 1 1 0 X PETER MCEACHERN 5082281400 SO BEACH STREET PO BOX 667 NANTUCKET MA 02554 X DAVID WORTH GOVERNOR 1.00 X 0 0 0 LUCINDA BALLARD COMMODORE 1.00 X X 0 0 0 MARC A FEIGEN VICE COMMODORE 1.00 X X 0 0 0 EUGENE H CLAPP III TREASURER 1.00 X X 0 0 0 EMILY KILVERT FLEET CAPTAIN 1.00 X X 0 0 0 TARAH BREED GOVERNOR 1.00 X 0 0 0 JOSEPHINE CALLAHAN GOVERNOR 1.00 X 0 0 0 TARA VITTONE SECRETARY 1.00 X X 0 0 0 WHITING WILLAUER JR GOVERNOR 1.00 X 0 0 0 BETSY MORGAN GOVERNOR 1.00 X 0 0 0 CONSTANCE CROSBY GOVERNOR 1.00 X 0 0 0 JAMES F CROWLEY GOVERNOR 1.00 X 0 0 0 V ADM JOHN BALDWIN HONORARY GOVERNOR 1.00 X 0 0 0 CARL JELLEME GOVERNOR 1.00 X 0 0 0 GREGORY FOWLKES REAR COMMODORE 1.00 X X 0 0 0 IAN T MCNEICE GOVERNOR 1.00 X 0 0 0 LISSY STEVENSON BRYAN GOVERNOR 1.00 X 0 0 0 BURTON HURLOCK GOVERNOR 1.00 X 0 0 0 MICHAEL KENNEDY GOVERNOR 1.00 X 0 0 0 LINDA MCGRATH GOVERNOR 1.00 X 0 0 0 DOUGLAS ABBEY GOVERNOR 1.00 X 0 0 0 DAN MACKEIGAN GOVERNOR 1.00 X 0 0 0 PETER MCEACHERN GENERAL MANAGER 40.00 X 356569 0 26000 CHRIS FREEMAN CHEF 40.00 X 181398 0 19500 LYNELL VOLLANS CONTROLLER 40.00 X 147836 0 4000 VINCENT RAIMO FACILITIES MANAGER 40.00 X 131824 0 0 KEN WASSERMAN DIRECTOR OF TENNIS 40.00 X 111233 0 0 MICHELLE ROBERTS COMMUNICATIONS MANAGER 40.00 X 110297 0 18600 1039157 0 68100 6 0 1 0 0 MEMBERSHIP DUES AND ASSESSMENTS 713990 4913952 4913952 TENNIS INCOME 713990 495137 495137 STAFF FUND CONTRIBUTIONS 713990 267520 267520 WATERFRONT REVENUE 713990 264935 264935 SAILING REVENUE 713990 180314 180314 128465 128465 6250323 85 85 33925 27121 6804 6804 6804 1895228 1803980 91248 82905 8343 INVOLUNTARY CONVERSIONS 713990 150327 150327 COUNTER SALES 713990 117091 117091 MISCELLANEOUS REVENUE 713990 71681 71681 339099 6687559 6522000 15232 150327 542115 1229031 191510 324976 17189 21649 18889 139597 38585 426303 9849 78758 1259766 525105 TENNIS OPERATING 381791 REPAIRS AND MAINTENANCE 244002 HOUSE AND GROUNDS-OPERA 192251 COMMODORE'S FUND 123885 348918 6114169 1726277 1766380 854425 885400 386249 313392 288996 394890 279857 248306 28848076 12569997 16824053 16278079 20359857 19886447 297430 292895 20303 43591 2718754 1653201 3036487 1989687 X 17128455 17732325 194915 164435 17323370 17896760 20359857 19886447 573390 0 X X 0 1 X 1 0 659758 659758 19956807 7408890 12547917 2207222 1868394 338828 6024289 3292713 2731576 16278079 X 8549140 2129101 2129101 6420039 267520 267520 6687559 7945270 1831101 1831101 6114169 0 6114169 PART X, LINE 2: UNCERTAINTY IN INCOME TAXES: 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 HAS NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION AND/OR DISCLOSURE. THE CLUB IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO FISCAL 2018. PART XI, LINE 2D - OTHER ADJUSTMENTS: NET ASSETS RELEASED FROM RESTRICTION INCLUDED IN EQUITY 298,000. COST OF GOODS SOLD - FOOD AND BEVERAGE 1,803,980. RENTAL EXPENSES 27,121. PART XI, LINE 4B - OTHER ADJUSTMENTS: CONTRIBUTIONS TO THE EMPLOYEE FUND 267,520. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD - FOOD AND BEVERAGE 1,803,980. RENTAL EXPENSES 27,121. X X X X 1 1 X X X 0 0 0 PETER MCEACHERN GENERAL MANAGER 356569 0 0 0 0 0 0 0 26000 0 382569 0 0 0 CHRIS FREEMAN CHEF 181398 0 0 0 0 0 0 0 19500 0 200898 0 0 0 LYNELL VOLLANS CONTROLLER 147836 0 0 0 0 0 0 0 4000 0 151836 0 0 0 PART I, LINE 1A THE CLUB PROVIDES THE GENERAL MANAGER AN ALLOWANCE FOR CLOTHING AND EDUCATION, IN WHICH THE AMOUNTS ARE DETAILED IN A WRITTEN EMPLOYMENT CONTRACT. THE CLUB ALSO PROVIDES THE GENERAL MANAGER WITH A BUSINESS CREDIT CARD TO BE USED FOR BUSINESS EXPENSES. THE POLICY FOR PAYMENT OF ALL OF THE ABOVE EXPENSES ARE DETAILED IN THE GENERAL MANAGER'S WRITTEN EMPLOYMENT CONTRACT. THE CLUB REQUIRES, AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE CLUB, THAT THE GENERAL MANAGER RESIDE IN A RESIDENCE WHICH IS CLOSE TO THE CLUB'S PRIMARY ACTIVITIES. THEREFORE THE GENERAL MANAGER RECEIVED AN INCREASE IN WAGES TO PURCHASE A HOUSE IN LIEU OF THE RENT THE CLUB WOULD HAVE PAID TO RENT A HOUSE. THE CLUB HAS DETERMINED THAT IT WILL BE ADVANTAGEOUS, FROM THE CLUB'S POINT OF VIEW, FOR THE GENERAL MANAGER'S SPOUSE TO ATTEND THE CLUB'S MID WINTER MEETING. ACCORDINGLY, THE CLUB WILL PAY OR REIMBURSE ALL REASONABLE ORDINARY AND NECESSARY EXPENSES INCURRED BY THE GENERAL MANAGER'S SPOUSE TO ATTEND THE ACTIVITIES ASSOCIATED WITH THAT MEETING. THE GENERAL MANAGER SHALL OBTAIN THE PRIOR APPROVAL OF THE COMMODORE FOR SUCH EXPENSES. THESE BENEFITS ARE ALL DETAILED IN THE GENERAL MANAGER'S WRITTEN EMPLOYMENT CONTRACT. 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 THE MEMBERS OF THE BOARD OF GOVERNORS ARE ELECTED BY THE VOTING MEMBERS OF THE ORGANIZATION AT THE ANNUAL MEETING. ALL CANDIDATES FOR THE BOARD ARE NOMINATED BY THE NOMINATING COMMITTEE, OR BY A WRITTEN PROPOSAL SIGNED BY AT LEAST FIFTEEN VOTING MEMBERS AND SUBMITTED AT LEAST TEN DAYS PRIOR TO THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B THE 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 990 WAS REVIEWED BY THE CLUB CONTROLLER AND TREASURER PRIOR TO BEING FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED ANNUALLY TO THE BOARD TO SIGN IN ORDER TO ENSURE THAT THERE ARE NO RELATIONSHIPS THAT EXIST WHICH ARE INAPPROPRIATE FOR THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE MEETS ANNUALLY REGARDING THE COMPENSATION OF THE GENERAL MANAGER. THE COMPENSATION COMMITTEE PERFORMS THE ANNUAL REVIEW AND DETERMINES THE WAGE INCREASE FOR THE GENERAL MANAGER. THE GENERAL MANAGER THEN PERFORMS THE ANNUAL REVIEW OF ALL OTHER MANAGEMENT AND DETERMINES THE WAGE INCREASES TO BE GRANTED, AFTER APPROVAL FROM THE COMPENSATION COMMITTEE. ANY EMPLOYEE WHO IS NOT MANAGEMENT RECEIVES A STANDARD RATE INCREASE AND DUE TO THE SEASONAL ACTIVITY ASSOCIATED WITH THE JOB, A FORMAL REVIEW IS NOT CONDUCTED FOR THOSE EMPLOYEES. 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. NANTUCKET YACHT CLUB FOUNDATION INC ONE SOUTH BEACH STREET NANTUCKET MA 02554 030453940 TO AWARD SCHOLORSHIPS TO ASSIST IN FURTHERING EDUCATIONAL GOALS MA 501(C)(3) 170(B)(1) (A)(VI) N/A 0 NANTUCKET RACE WEEK LLC 4 WINTER STREET NANTUCKET MA 02554 208844564 PROMOTE SAILING MA NANTUCKET COMMUNITY SAILING INC RELATED 0 0 0.67000 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 SCHEDULE R, PAGE 3, PART V, QUESTION 1M NANTUCKET YACHT CLUB WILL ALLOW THE USE OF THEIR FACILITIES TO NANTUCKET RACE WEEK FOR CERTAIN EVENTS AT NO COST. EMPLOYEES OF NANTUCKET YACHT CLUB STAFF THESE EVENTS, ALSO AT NO COST TO NANTUCKET RACE WEEK.