2023-02-15T14:05:52-06:00 2022-03-31 420714325 RSM US LLP 1555 PALM BEACH LAKES BLVD SUITE 500 WEST PALM BEACH FL 33401 990 2021-04-01 590798689 KEY BISCAYNE YACHT CLUB INC KEYB 3053619171 180 HARBOR DR KEY BISCAYNE FL 331491304 EDUARDO L HERNANDEZ TREASURER 3053619171 2023-02-03 1 EDUARDO HERNANDEZ 999009999 CHRISTOPHER CECIL P01877773 5616971785 2023-02-03 3 AAL1 IAL1 2021 2023-03-07 01:45:13Z LUIS F DE LA CRUZ 180 HARBOR DR KEY BISCAYNE FL 331491304 11559514 0 X KBYC.ORG X 1955 FL TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION. 17 17 253 60 817815 0 0 0 2874362 4063174 3815 7500 5626515 4637247 8504692 8707921 0 0 0 0 3733975 5123787 0 0 0 3750071 5412159 7484046 10535946 1020646 -1828025 27095863 26710569 16476893 15604261 10618970 11106308 KEY BISCAYNE YACHT CLUB, INC. IS A SOCIAL CLUB WHOSE EXEMPT PURPOSE IS TO PROMOTE SOCIAL INTERACTION OF CLUB MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES. 0 0 THE CLUB PROVIDES RESTAURANT AND DOCK FACILITIES FOR ITS MEMBERS AND THEIR GUESTS. 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 40 0 1 253 1 1 1 0 0 0 1 1 0 1109844 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 AMERILY CLEMENTE-FALCON CONTROLLER 3053619171 180 HARBOR DRIVE KEY BISCAYNE FL 331491394 LUIS F DE LA CRUZ COMMODORE 1.00 X X 0 0 0 RANDOLPH CLARK VICE COMMODORE 1.00 X X 0 0 0 JAVIER J RODRIGUEZ REAR COMMODORE 1.00 X X 0 0 0 CRISTINA CIURO SECRETARY 1.00 X X 0 0 0 EDUARDO L HERNANDEZ TREASURER 1.00 X X 0 0 0 ALLISON ENG-PEREZ GOVERNOR 1.00 X 0 0 0 BARBARA A LAMAR GOVERNOR 1.00 X 0 0 0 JORGE LLANSO GOVERNOR 1.00 X 0 0 0 WILLIAM BULLARD GOVERNOR 1.00 X 0 0 0 THOMAS C MCCORMICK GOVERNOR 1.00 X 0 0 0 TODD J GROSS GOVERNOR 1.00 X 0 0 0 MATT PATTULO GOVERNOR 1.00 X 0 0 0 LUIS FELIPE PORRO GOVERNOR 1.00 X 0 0 0 WINNIE PRITCHETT GOVERNOR 1.00 X 0 0 0 AABAD MELWANI GOVERNOR 1.00 X 0 0 0 ENRIQUE DILLON GOVERNOR 1.00 X 0 0 0 STEVEN M STOLLMAN GOVERNOR (PAST COMMODORE) 1.00 X 0 0 0 DARREN BETZ GENERAL MANAGER 40.00 X 268695 0 8688 MARGARITA ASCIU CONTROLLER 40.00 X 104175 0 11699 MATTHEW MEDRANO EXECUTIVE CHIEF 40.00 X 113043 0 10600 JUAN CARLOS ROMERO SAILING DIRECTOR 40.00 X 118915 0 7566 ARIENNE HADLEY CLUBHOUSE MANAGER 40.00 X 100668 0 5860 705496 0 44413 5 0 1 0 0 MEMBERSHIP DUES 713910 2592172 2592172 SAILING PROGRAM 713910 701859 199963 501896 OPERATING ASSESSMENT 713910 691288 691288 TENNIS 713910 51386 51186 200 YOUTH ACTIVITY 713910 20600 20600 5869 5869 4063174 7500 7500 6590602 2851593 3739009 3430790 308219 INTEREST RATE SWAP AGREEMENT 713910 708013 708013 MISCELLANEOUS 713910 190225 190225 898238 8707921 7890106 817815 0 X 4298931 102435 722421 1343585 CLUB 828128 PROP TAXES, INSURANCE 726664 AMORTIZATION OF LOAN CL 721653 FOOD & BEVERAGE 457273 1334856 10535946 2022165 2080528 247340 0 988273 1753939 155296 214496 150107 167304 27959636 5495322 23335454 22464314 197228 29988 27095863 26710569 829311 947337 13832820 13569366 1814762 1087558 16476893 15604261 X 10618970 11106308 10618970 11106308 27095863 26710569 X -1828025 2315363 X X 0 1 X 1 0 2414754 2414754 15443519 895269 14548250 3825412 1284394 2541018 6275951 3315659 2960292 22464314 INTEREST RATE SWAP AGREEMENT 998782 DUES AND FEES COLLECTED IN ADVANCE 88776 1087558 X 11559514 2851593 2851593 8707921 0 8707921 13387539 2851593 2851593 10535946 0 10535946 PART X, LINE 2: THE CLUB HAS EVALUATED ITS TAX POSITIONS AND CONCLUDED THAT THE CLUB HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAX TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 2,851,593. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 2,851,593. X X 1 1 X X 0 0 0 DARREN BETZ GENERAL MANAGER 221372 0 25500 0 21823 0 8688 0 0 0 277383 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION 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 THERE ARE TWO MEMBERSHIP CATEGORIES: REGULAR MEMBERSHIP AND EQUITY MEMBERSHIP. ONLY REGULAR MEMBERS PARTICIPATE IN THE ELECTION OF OFFICERS AND DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B ALL BYLAW CHANGES, DUES INCREASES AND ASSESSMENTS ARE SUBJECT TO APPROVAL BY MEMBERS. 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 WHO REVIEW FORM 990 WITH ITS OUTSIDE CPA PREPARERS PRIOR TO THE FILING OF THE FORM. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY OF THE KEY BISCAYNE YACHT CLUB IS DESIGNED TO ASSURE APPROPRIATE DISCLOSURE AND APPROVAL FOR TRANSACTIONS IN WHICH A GOVERNOR; FLAG OFFICER OR KEY EMPLOYEE (THOSE EMPLOYEES THAT HAVE OR SHARE ORGANIZATION-WIDE CONTROL OR INFLUENCE SIMILAR TO THAT OF A FLAG OFFICER OR GOVERNOR) MAY HAVE AN APPARENT OR POTENTIAL CONFLICT OF INTEREST. THE POLICY IS INTENDED TO PROVIDE A PROCEDURE FOR THE DISCLOSURE OF ANY CONFLICTS OF INTEREST THAT MAY ARISE AS A RESULT OF SUCH ACTIVITIES AND TO PROVIDE AN APPROPRIATE MEANS OF ADDRESSING THEM. THE MONITORING OF THE CONFLICT OF INTEREST POLICY IS CONDUCTED BY THE CLUB'S ATTORNEY. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD REVIEWS AND APPROVES COMPENSATION FOR THE GENERAL MANAGER. THIS PROCESS INCLUDES THE USE OF COMPARABILITY DATA FOR SIMILAR QUALIFIED PERSONS IN COMPARABLE POSITIONS AT SIMILAR CLUBS. THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENTS ARE DOCUMENTED AS WELL. 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 GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AND ON CLUB'S WEBSITE. THE CONFLICT OF INTEREST POLICY IS AVAILABLE TO THE PUBLIC UPON REQUEST AND BY INSPECTION AT CLUB. THE FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC BY INSPECTION AT CLUB. FORM 990, PART IX, LINE 24E OTHER NON-OPERATING EXPENSES 396,211. ADMINISTRATIVE & GENERAL 293,512. ENTERTAINMENT & HOSPITALITY 258,753. SAILING PROGRAM 193,867. DOCKS 73,808. COVID-19 EXPENSE 41,480. TENNIS 27,139. MARINA 20,534. POOL 14,337. YOUTH ACTIVITY 8,058. STORE 7,157. FORM 990, PART XI, LINE 9: ISSUANCE OF MEMBERSHIP CERTIFICATES 175,000. REDEMPTION OF MEMBERSHIP CERTIFICATES -150,000. INITIATION FEES 1,162,613. CAPITAL EXPENDITURE ASSESSMENT 1,127,750. FORM 990, PART XII, LINE 2C NO CHANGE FROM PRIOR YEAR