2023-04-18T09:50:12-05:00 2022-11-30 161092347 MENGEL METZGER BARR & CO LLP 100 CHESTNUT STREET SUITE 1200 ROCHESTER NY 14604 990 2021-12-01 160613575 ROCHESTER YACHT CLUB ROCH 5853425511 5555 ST PAUL BLVD ROCHESTER NY 14617 JOSEPH DIVINCENZO COMMODORE 5853425511 2022-04-18 1 JOSEPH DIVINCENZO XXX-XX-XXXX MICHELLE CAIN P00150750 5854231860 2023-04-17 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z JOSEPH DIVINCENZO 5555 ST PAUL BLVD ROCHESTER NY 14617 3587653 0 X WWW.ROCHESTERYC.COM X 1877 NY THE PURPOSE OF THE CLUB SHALL BE TO PROMOTE INTEREST IN YACHTS AND YACHTING, TO TEACH AND PROMOTE THE PRINCIPLES OF SEAMANSHIP AND NAVIGATION, TO ENCOURAGE THE TRADITION OF YACHTING, TO ENCOURAGE AND TEACH YOUNG PEOPLE IN SEAMANSHIP AND YACHTING, TO PROVIDE AND MAINTAIN A SUITABLE CLUBHOUSE, ANCHORAGE AND FACILITIES FOR THE USE AND RECREATION OF ITS MEMBERS AND TO MAKE ANY AND ALL RULES AND TO DO ANY OTHER ACT OR THING INCIDENTAL TO OR CONNECTED WITH THE FOREGOING PURPOSES OR IN ADVANCEMENT THEREOF. 13 13 113 100 314244 0 475604 193337 2224092 2415703 3054 7792 536085 679261 3238835 3296093 0 0 0 0 1197266 1240129 0 0 0 1167347 1232364 2364613 2472493 874222 823600 4279257 4889065 677064 486121 3602193 4402944 X THE PURPOSE OF THE CLUB SHALL BE TO PROMOTE INTEREST IN YACHTS AND YACHTING, TO TEACH AND PROMOTE THE PRINCIPLES OF SEAMANSHIP AND NAVIGATION, TO ENCOURAGE THE TRADITION OF YACHTING, TO ENCOURAGE AND TEACH YOUNG PEOPLE IN SEAMANSHIP AND YACHTING, TO PROVIDE AND MAINTAIN A SUITABLE CLUBHOUSE, ANCHORAGE AND FACILITIES FOR THE USE AND RECREATION OF ITS MEMBERS AND TO MAKE ANY AND ALL RULES AND TO DO ANY OTHER ACT OR THING INCIDENTAL TO OR CONNECTED WITH THE FOREGOING PURPOSES OR IN ADVANCEMENT THEREOF. 0 0 THIS CLUB IS A NON-PROFIT SOCIAL MEMBERSHIP ORGANIZATION FORMED FOR THE PURPOSE OF PROMOTING AND ENCOURAGING YACHTING, WHILE PROVIDING A CLUBHOUSE AND OTHER FACILITIES FOR THE USE OF ITS MEMBERS. THE CLUB'S THREE MOST SIGNIFICANT ACTIVITIES ARE BOAT MOORING, BOAT STORAGE, AND DINING FOR MEMBERS. 0 1 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 17 0 113 1 1 1 0 0 0 0 0 0 502434 423375 0 0 0 X 13 13 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X KAREN SERVIS OFFICE MANAGER 5853425511 5555 ST PAUL BLVD ROCHESTER NY 14617 X CHRIS DORSEY PAST COMMODORE 20.00 X X 0 0 0 JOE DIVINCENZO COMMODORE 20.00 X X 0 0 0 HOLLIE CALDERON TREASURER - THRU DEC 2021 20.00 X X 0 0 0 WADE COOK DIRECTOR 5.00 X 0 0 0 RYAN HOWE DIRECTOR - THRU DEC 2021 5.00 X 0 0 0 JIM HYNES DIRECTOR 5.00 X 0 0 0 ANDREW BOORMAN DIRECTOR - THRU DEC 2021 5.00 X 0 0 0 KATHY PEACH CORRESPONDING SECRETARY - THRU DEC 2021 5.00 X X 0 0 0 PETER MENDICK VICE-COMMODORE 20.00 X X 0 0 0 JACK DEPETERS REAR-COMMODORE 20.00 X X 0 0 0 KIM GANLEY RECORDING SECRETARY 5.00 X X 0 0 0 PETER PAPE DIRECTOR 5.00 X 0 0 0 WILLIAM FARMER DIRECTOR 5.00 X 0 0 0 PATRICK BASSET TREASURER - AS OF DEC 2021 20.00 X X 0 0 0 JACK ODENBACH DIRECTOR - AS OF DEC 2021 5.00 X 0 0 0 JENNY ROSENBAUER DIRECTOR - AS OF DEC 2021 5.00 X 0 0 0 VERONICA LYONS CORRESPONDING SECRETARY - AS OF DEC 2021 5.00 X X 0 0 0 0 0 0 0 0 0 0 0 193337 193337 MEMBERSHIP DUES 713910 1541292 1541292 SUMMER MOORING FEES 713910 392444 392444 JUNIOR SAIL LESSONS 713910 182666 57274 125392 WINTER STORAGE FEES 713910 130741 130741 LOCKER & FLOOR RENTAL 713910 68727 68727 99833 57924 41909 2415703 7792 7792 970821 291560 679261 540110 139151 3296093 2788512 314244 0 1056901 14794 69744 98690 10550 10274 5295 248256 5512 12518 285392 147731 INCOME TAXES 250 REPAIRS AND MAINTENANCE 181517 SUPPLIES AND PARTS 120246 EQUIPMENT LEASES 66025 138798 2472493 1457748 407941 123579 1824608 153201 144317 40593 47158 138580 79420 10319355 8117461 2109735 2201894 226552 152476 29269 31251 4279257 4889065 173134 108438 121118 111666 382812 266017 677064 486121 X 3598089 4399139 4104 3805 3602193 4402944 4279257 4889065 823600 -22849 0 X X 1 X 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 219999 -19692 6194 194113 200355 22322 2678 219999 180972 24614 5231 200355 160169 22253 1450 180972 157881 4688 2400 160169 1.00000 0 0 334325 334325 3422962 3088834 334128 2522996 2292796 230200 4039072 2735831 1303241 2201894 X 3564804 -22849 291560 268711 3296093 0 3296093 2764053 291560 291560 2472493 0 2472493 PART V, LINE 4: THE BOARD HAS DESIGNATED THE FUNDS FOR SAILING AND RACE PROGRAMS. PART X, LINE 2: THE CLUB IS EXEMPT FROM TAXATION UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE. HOWEVER, THE CLUB IS SUBJECT TO TAXATION ON NET INCOME DERIVED FROM NON-MEMBER FUNCTIONS, AS WELL AS FROM NET INVESTMENT INCOME. SEE NOTE I FOR FURTHER INFORMATION. INCOME TAX EXPENSE IS INCLUDED IN GENERAL AND ADMINISTRATIVE EXPENSES. CURRENTLY, THE CLUB HAS UNRELATED BUSINESS NET OPERATING LOSS CARRYFORWARDS OF APPROXIMATELY $2,129,000 AVAILABLE TO OFFSET UNRELATED BUSINESS TAXABLE INCOME. AS A RESULT, THERE WAS MINIMAL TAX LIABILITY FOR THE FISCAL YEARS ENDED NOVEMBER 30, 2022 AND 2021. THE CLUB HAS FILED FOR AND RECEIVED INCOME TAX EXEMPTIONS IN THE VARIOUS JURISDICTIONS WHERE THEY ARE REQUIRED TO DO SO. THE CLUB FILES FORM 990 TAX RETURNS IN THE U.S. FEDERAL JURISDICTION AND IN NEW YORK STATE. WITH FEW EXCEPTIONS, AS OF NOVEMBER 30, 2022, THE CLUB IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS ENDED PRIOR TO NOVEMBER 30, 2019. THE TAX RETURNS FOR YEARS ENDED NOVEMBER 30, 2019 THROUGH NOVEMBER 30, 2022 ARE STILL SUBJECT TO POTENTIAL AUDIT BY THE IRS AND TAXING AUTHORITIES IN NEW YORK STATE. MANAGEMENT OF THE CLUB BELIEVES THEY HAVE NO MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, THEY HAVE NOT RECOGNIZED ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FOOD & BEVERAGE COGS 291,560. PART XII, LINE 2D - OTHER ADJUSTMENTS: FOOD & BEVERAGE COGS 291,560. WILLIAM FARMER PRESIDENT OF CATENA DIRECTOR 17832 LABOR AND MATERIALS FOR REHABILITATION OF POOL 0 FORM 990, PART VI, SECTION A, LINE 6 THE CLUB HAS APPROXIMATELY 211 VOTING MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS ELECT THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO MEMBER APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B THE CLUB'S EXECUTIVE COMMITTEE IS PRESENTED WITH THE FORM 990 BY ITS INDEPENDENT AUDITORS AND THE COMMITTEE REVIEWS AND APPROVES THE FORM. THE TREASURER WILL THEN PRESENT ALL BOARD MEMBERS WITH THE FORM 990 FOR THEIR REVIEW AT THE CLOSED BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C THE REVIEW COMMITTEE REVIEWS MINUTES FOR ALL MEETINGS HELD AND MONTHLY FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION B, LINE 15A THE PROCESS FOR DETERMINING COMPENSATION INCLUDES THE BOARD'S REVIEW OF SURVEYS GENERATED BY TRADE ASSOCIATIONS SUCH AS THE CLUB MANAGERS ASSOCIATION OF AMERICA AND SUBSEQUENT APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 ALL ITEMS ARE AVAILABLE UPON REQUEST MADE TO THE ROCHESTER YACHT CLUB'S CLUB MANAGER. FORM 990, PART XII, LINE 2C THE PROCESS IS CONSISTENT WITH THE PRIOR YEAR.