2022-10-24T12:57:47-05:00 2021-12-31 271728945 PKF O'CONNOR DAVIES LLP 40 WESTMINSTER STREET SUITE 600 PROVIDENCE RI 02903 990 2021-01-01 360911690 CHICAGO YACHT CLUB CHIC 3128617777 400 EAST MONROE STREET CHICAGO IL 60603 MICHAEL J KOVACS TREASURER 3128617777 2022-09-22 1 MICHAEL KOVACS XXX-XX-XXXX KERRI RAWCLIFFE P01398485 4016216200 2022-09-22 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z H NICHOLAS BERBERIAN 400 EAST MONROE STREET CHICAGO IL 60603 9274007 0 X WWW.CHICAGOYACHTCLUB.ORG X 1875 IL TO ENCOURAGE AND PROMOTE YACHTING IN CHICAGO, IL. 17 17 213 400 405236 0 472951 775727 4230296 4881799 616 31861 -188639 -119984 4515224 5569403 0 0 0 0 2248555 2567870 0 0 0 2260089 2677915 4508644 5245785 6580 323618 7026884 8000241 671908 1018862 6354976 6981379 CHICAGO YACHT CLUB'S MISSION IS TO ENCOURAGE AND PROMOTE THE COMINGLING OF MEMBERS THROUGH YACHTING BY PROVIDING RECREATION ACTIVITIES, CLASSES AND REGATTAS FOR MEMBERS AND THEIR GUESTS. 0 0 THE CLUB PROVIDES FOOD, BEVERAGE AND DOCKING FACILITIES FOR MEMBERS AND THEIR GUESTS. THE CLUB ALSO CONDUCTS A SAILING SCHOOL TO PROMOTE THE SAFETY AND ENJOYMENT OF SAILING. IN ADDITION, THE CLUB HOSTS AND CONDUCTS YACHTING REGATTAS FOR THE RECREATION AND PLEASURE OF MEMBERS, GUESTS, AND OTHER COMPETITORS. 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 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 35 0 213 1 1 1 0 0 0 1 1 635691 564020 0 0 0 X 17 17 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X KEITH BRENNAN 3128617774 400 EAST MONROE STREET CHICAGO IL 60603 X LOU SANDOVAL PAST COMMODORE 10.00 X X 0 0 0 NICK BERBERIAN COMMODORE 10.00 X X 0 0 0 RAY GROBLE REAR COMMODORE 10.00 X X 0 0 0 MICHAEL KOVACS TREASURER 10.00 X X 0 0 0 LAURA SIGMOND SECRETARY 10.00 X X 0 0 0 NANCY ARNOLD DIRECTOR 10.00 X 0 0 0 SCOTT SIMS DIRECTOR 10.00 X 0 0 0 LISA CURCIO VICE COMMODORE 10.00 X 0 0 0 MIKE FRERKER DIRECTOR 10.00 X 0 0 0 BETSY BARRETT DIRECTOR 10.00 X 0 0 0 MATT GALLAGHER DIRECTOR 10.00 X 0 0 0 WILLIAM BLOOM DIRECTOR 10.00 X 0 0 0 KURT LENTSCH DIRECTOR 10.00 X 0 0 0 STEVE DORFMAN DIRECTOR 10.00 X 0 0 0 JAMES MURRAY DIRECTOR 10.00 X 0 0 0 SAM VEILLEUX DIRECTOR 10.00 X 0 0 0 STEVE KNOOP DIRECTOR 10.00 X 0 0 0 JIM WILLIAMSON GENERAL MANAGER 50.00 X 152115 0 0 DENNIS DIEBALL ON THE WATER DIRECTOR 50.00 X 154461 0 0 LAWRENCE ASHER EXECUTIVE CHEF 50.00 X 123318 0 0 ELIZABETH HALEY MEMBERSHIP DIRECTOR 50.00 X 124763 0 0 SARA PROCTOR COMMUNICATIONS DIRECTOR 50.00 X 113582 0 0 668239 0 0 5 0 0 0 0 742375 33352 775727 MEMBER DUES 713990 3393517 3393517 SAILING SCHOOL 713990 1024316 639418 384898 INTIATION FEES 713990 259202 259202 YACHTING & OTHER COMMITTEES 713990 83908 83908 RETAIL REVENUE 713990 59243 44286 14957 61613 48773 12840 4881799 298 298 71220 39657 31563 31563 31563 2925248 3664947 -739699 -731942 -7757 PROPERTY MAINTENANCE 713990 376489 376489 OTHER INCOME 713990 232249 232249 INSURANCE CLAIMS 713990 10977 10977 619715 5569403 4388440 405236 0 X 668239 668239 1311184 1311184 46095 46095 355931 355931 186421 186421 29020 29020 15949 15949 368585 368585 62759 62759 207235 207235 4317 4317 631962 631962 171143 171143 MAINTENANCE AND REPAIRS 212565 212565 MISCELLANEOUS 165131 165131 TAXES 149349 149349 SECURITY 75036 75036 584864 584864 5245785 5245785 0 0 2046310 3272655 280056 463901 175149 134705 142489 139182 97226 71873 19485459 15582371 4270817 3903088 14837 14837 7026884 8000241 456641 841222 65267 27640 150000 150000 671908 1018862 X 6284136 6607754 70840 373625 6354976 6981379 7026884 8000241 X 323618 302785 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 13111359 10039713 3071646 5546759 5542658 4101 827340 827340 3903088 X 9234350 3664947 3664947 5569403 0 5569403 8910732 3664947 3664947 5245785 0 5245785 PART X, LINE 2: THE CLUB QUALIFIES AS A NONPROFIT ORGANIZATION UNDER PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(C)(7) AND IS NOT GENERALLY SUBJECT TO FEDERAL OR STATE INCOME TAXES. IF THE CLUB WERE TO CONDUCT UNRELATED BUSINESS ACTIVITIES, INCLUDING NONMEMBER FUNCTIONS, SUCH ACTIVITIES WOULD BE TAXABLE TO THE EXTENT THE ACTIVITIES GENERATE INCOME. 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 DECEMBER 31, 2018. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON PART VIII, LINE 10B: 3,664,947. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON PART VIII, LINE 10B: 3,664,947. 0 0 0 DENNIS DIEBALL ON THE WATER DIRECTOR 154461 0 0 0 0 0 0 0 0 0 154461 0 0 0 JIM WILLIAMSON GENERAL MANAGER 152115 0 0 0 0 0 0 0 0 0 152115 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CLUB IS A PRIVATE MEMBER-OWNED CLUB THAT IS OWNED AND OPERATED FOR THE PLEASURE AND RECREATION OF ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A REGULAR, VETERAN I, VETERAN II AND VETERAN III ALL HAVE VOTING RIGHTS. FORM 990, PART VI, SECTION A, LINE 7B ALL BYLAW AMENDMENTS REQUIRE THE APPROVAL OF REGULAR AND VETERAN MEMBERS ELIGIBLE TO VOTE. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION DOES NOT BELIEVE IT IS EFFECTIVE NOR EFFICIENT FOR THE ENTIRE GOVERNING BOARD TO REVIEW FORM 990 BEFORE FILING. THUS, THE GOVERNING BOARD DELEGATES THE REVIEW OF FORM 990 AND THE RELATED SCHEDULES TO THE CONTROLLER, GENERAL MANAGER, AND TREASURER. THESE INDIVIDUALS REVIEW FORM 990 WITH ITS OUTSIDE CPA PREPARERS PRIOR TO THE FILING OF THE FORM. FORM 990, PART VI, SECTION B, LINE 12C ALL MEMBER TRANSACTIONS IN EXCESS OF $10,000 REQUIRE BOARD APPROVAL. FORM 990, PART VI, SECTION B, LINE 15 THE COMMODORE OVERSEES THE COMPENSATION COMMITTEE, WHICH ALSO INCLUDES THE TREASURER AND IMMEDIATE PAST COMMODORE. THE SALARY BUDGET WAS DETERMINED AND THE COMPENSATION COMMITTEE DECIDED HOW THE INCREASES WOULD BE DISTRIBUTED AMONG MANAGEMENT. THE INCREASES ARE SIGNED OFF BY THE COMMODORE AND THE GENERAL MANAGER. FORM 990, PART VI, SECTION C, LINE 18 THE CLUB PROVIDES COPIES OF FORM 990 AND FORM 1024 UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICTS OF INTEREST POLICY ARE NOT AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 24E DOCK OTHER EXPENSES: PROGRAM SERVICE EXPENSES 74,542. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 74,542. FOOD & BEVERAGE: PROGRAM SERVICE EXPENSES 67,675. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 67,675. MEMBER/MARKETING: PROGRAM SERVICE EXPENSES 57,856. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 57,856. ENTERTAINMENT: PROGRAM SERVICE EXPENSES 57,086. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 57,086. SUPPLIES: PROGRAM SERVICE EXPENSES 47,546. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 47,546. TRAVEL: PROGRAM SERVICE EXPENSES 47,445. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 47,445. CLUBHOUSE: PROGRAM SERVICE EXPENSES 45,106. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 45,106. RETAIL EXPENSES: PROGRAM SERVICE EXPENSES 41,813. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 41,813. SAILING/RACING EXPENSES: PROGRAM SERVICE EXPENSES 40,158. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 40,158. BOD: PROGRAM SERVICE EXPENSES 33,296. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 33,296. TROPHIES/AWARDS: PROGRAM SERVICE EXPENSES 15,822. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 15,822. STORAGE COSTS: PROGRAM SERVICE EXPENSES 14,924. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 14,924. BEDDING, LINEN, AND UNIFORMS: PROGRAM SERVICE EXPENSES 14,632. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 14,632. TRAINING: PROGRAM SERVICE EXPENSES 9,340. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 9,340. PARKING: PROGRAM SERVICE EXPENSES 7,800. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,800. TRADE SHOW EXPENSES: PROGRAM SERVICE EXPENSES 3,650. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,650. EQUIPMENT RENTAL: PROGRAM SERVICE EXPENSES 3,136. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,136. PHOTOGRAPHY: PROGRAM SERVICE EXPENSES 3,037. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,037. FORM 990, PART XI, LINE 9: MEMBER RESTRICTED CONTRIBUTIONS 302,785. FORM 990, PART XII, LINE 2C NO CHANGE FROM PRIOR YEAR CHICAGO YACHT CLUB FOUNDATION 400 EAST MONROE STREET CHICAGO IL 60603 363733864 TO PROVIDE EDUCATIONAL OPPORTUNITIES AND BROADEN HORIZONS FOR YOUTH. IL 501(C)(3) LINE 10 N/A 0 CHICAGO YACHT CLUB REGATTA ASSOCIATION INC 400 EAST MONROE STREET CHICAGO IL 60603 814439737 TO PROMOTE AMATEUR SAILING COMPETITION AND SOCIAL WELFARE FOR THE COMMUNITY. IL 501(C)(4) N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 CHICAGO YACHT CLUB REGATTA ASSOCIATION INC Q 242574