2023-08-15T11:15:32-05:00 2022-09-30 454051133 FREED MAXICK CPAS PC 424 MAIN STREET SUITE 800 BUFFALO NY 142023508 990 2021-10-01 160368750 BUFFALO YACHT CLUB BUFF 7168835900 ONE PORTER AVENUE BUFFALO NY 14201 KEVIN OSINSKI TREASURER 7168835900 2023-08-10 1 KEVIN OSINSKI XXX-XX-XXXX MARY MADONIA P00405803 7168472651 2023-08-14 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z SALVATORE DEPASQUALE ONE PORTER AVENUE BUFFALO NY 14201 2810502 0 X WWW.BUFFALOYACHTCLUB.ORG X 1860 NY THE BUFFALO YACHT CLUB IS A SOCIAL CLUB. THE CLUB PROVIDES MEMBERS, THEIR FAMILIES, AND THEIR GUESTS WITH FACILTIES WHICH ENCOURAGE AND DEVELOP YACHTING AND OTHER AQUATIC SPORTS, AS WELL AS OTHER LEISURE TIME ACTIVITIES AND ENTERTAINMENT. THE BUFFALO YACHT CLUB IS THE ONLY TWELVE-MONTH, PRIVATE YACHT CLUB THAT ENJOYS TWO LOCATIONS IN TWO COUNTRIES AND IS SAID TO BE THE 3RD OLDEST YACHT CLUB IN AMERICA, BEING FORMED IN 1860. 12 12 72 120 -1401 0 625129 350000 1122484 1577901 113 141 -87480 -51197 1660246 1876845 0 0 0 0 447709 554561 0 0 0 580437 821204 1028146 1375765 632100 501080 2795148 3194185 254867 213882 2540281 2980303 X THE BUFFALO YACHT CLUB IS A SOCIAL CLUB. THE CLUB PROVIDES MEMBERS, THEIR FAMILIES, AND THEIR GUESTS WITH FACILTIES WHICH ENCOURAGE AND DEVELOP YACHTING AND OTHER AQUATIC SPORTS, AS WELL AS OTHER LEISURE TIME ACTIVITIES AND ENTERTAINMENT. THE BUFFALO YACHT CLUB IS THE ONLY TWELVE-MONTH, PRIVATE YACHT CLUB THAT ENJOYS TWO LOCATIONS IN TWO COUNTRIES AND IS SAID TO BE THE 3RD OLDEST YACHT CLUB IN AMERICA, BEING FORMED IN 1860. 0 0 PROVISION OF WATER ACCESS AND DINING FACILITIES TO CLUB MEMBERS. 0 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 1 5 0 1 72 1 1 1 1 CA 0 0 0 553900 26581 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 0 0 0 0 NY X X THE ORGANIZATION 7168835900 ONE PORTER AVENUE BUFFALO NY 14201 KEVIN OSINSKI BOARD MEMBER/TREASURER 2.00 X X 0 0 0 PAUL GRENAUER BOARD MEMBER 1.00 X 0 0 0 THEODORE JOHNSON BOARD MEMBER/VICE COMMODORE 2.00 X X 0 0 0 DOUGLAS BIENKO BOARD MEMBER/COMMODORE 2.00 X X 0 0 0 STEVEN MUNSCHAUER BOARD MEMBER (TO 9/2022) 2.00 X 0 0 0 PAUL X JOHNSON BOARD MEMBER (TO 11/2022) 1.00 X 0 0 0 MARK HAMBERGER BOARD MEMBER 1.00 X 0 0 0 MARY THERESA SEITZ BOARD MEMBER 1.00 X 0 0 0 ERIC CHRISTENSEN BOARD MEMBER 1.00 X 0 0 0 JEFFREY HAYES BOARD MEMBER (TO 11/2021) 1.00 X 0 0 0 JONATHAN JOHNSEN BOARD MEMBER/FLEET CAPTAIN 1.00 X X 0 0 0 KIMBERLY REYNOLDS BOARD MEMBER/SECRETARY 1.00 X X 0 0 0 CARL H HENSLER BOARD MEMBER/REAR COMMODORE 2.00 X X 0 0 0 JOSEPH GELSOMINO JR BOARD MEMBER 2.00 X 0 0 0 SALVATORE DEPASQUALE CLUB GENERAL MANAGER 40.00 X 94819 0 0 MICHAEL SCHEID ACCOUNTING & HR MGR (TO 1/2022) 40.00 X 67581 0 0 162400 0 0 0 0 0 0 0 350000 100000 350000 INITIATION FEES & CAPI 713910 553900 553900 DUES AND ASSESSMENTS 713910 456277 456277 MEMBER SERVICES 713910 398374 398374 JUNIOR SAILING & REGAT 713910 169350 169350 1577901 141 141 882460 933657 -51197 -49655 -1542 1876845 1528246 -1401 0 162400 347093 45068 57432 1740 18850 54648 194020 63935 REPAIRS & MAINTENANCE 135735 REAL ESTATE TAXES 72098 BAD DEBT EXPENSE 63065 UTILITIES 41163 118518 1375765 330740 345088 160487 681944 118019 172319 46843 56336 82820 72228 7177254 5310984 1815373 1866270 240866 0 2795148 3194185 114004 38546 140863 25336 0 150000 254867 213882 X 2540281 2880303 100000 2540281 2980303 2795148 3194185 X 501080 -61058 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 119616 119616 2329259 1962406 366853 4701901 3348578 1353323 26478 26478 1866270 BOND PAYABLE 150000 150000 X PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS EXEMPTED BUFFALO YACHT CLUB FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE. THE RELATED FOUNDATION IS EXEMPT FROM TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, THE TAX REFORM ACT OF 1969 IMPOSED A CORPORATE INCOME TAX ON THE "UNRELATED BUSINESS TAXABLE INCOME" OF AN OTHERWISE TAX-EXEMPT CLUB. THE PROVISION FOR APPLICABLE FEDERAL AND STATE INCOME TAXES HAS BEEN MADE IN ACCORDANCE WITH THESE STATUTES. A TAX LIABILITY FROM UNCERTAIN TAX POSITION (ONE THAT MAY CAUSE THE CLUB TO BE SUBJECT TO UNINCORPORATED BUSINESS INCOME TAX OR TO LOSE ITS TAX EXEMPT STATUS) MAY BE RECOGNIZED WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION. THE CLUB RECORDED NO LIABILITIES FOR THE YEARS ENDED SEPTEMBER 30, 2022 AND 2021 FOR UNRECOGNIZED TAX POSITIONS. CANADA 1 13 PROGRAM SERVICES THE CLUB PROVIDES MEMBERS, THEIR FAMILIES, AND THEIR GUESTS FACILITIES FOR LEISURE TIME ACTIVITIES AND ENTERTAINMENT AT PORT ABINO, ONTARIO. 265936 1 13 0 0 1 13 265936 0 265936 0 0 0 0 0 0 PART III ACCOUNTING METHOD: X 6 100000 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS A SOCIAL CLUB THAT HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION'S MEMBERSHIP ELECTS THE CLUB'S GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B ANY EXPENDITURES GREATER THAN $40,000 MUST BE APPROVED BY ALL VOTING MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN OUTSIDE, INDEPENDENT ACCOUNTING FIRM. A DRAFT OF THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE AND THEN WITH THE ENTIRE BOARD OF DIRECTORS. ONCE THE DRAFT IS APPROVED, IT IS PROMPTLY FILED WITH THE IRS. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST DURING REGULAR BUSINESS HOURS AT THE ORGANIZATION'S PRIMARY LOCATION. FORM 990, PART XI, LINE 9: CANADIAN CURRENCY TRANSLATION EXPENSE -14,455. EXPENSES PAID ON BEHALF OF FOUNDATION -46,603. FORM 990, PART XII, LINE 2C: THE AUDIT OVERSIGHT PROCESS AND THE INDEPENDENT ACCOUNTANT SELECTION PROCESS HAVE NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART VI, LINES 12C-14: THE ORGANIZATION IS CURRENTLY CONSIDERING THE IMPLEMENTATION OF A DOCUMENT RETENTION POLICY. BUFFALO YACHT CLUB FOUNDATION 1 PORTER AVE BUFFALO NY 14201 272275906 TO TEACH FUNDAMENTAL SAILING SKILLS THROUGH EDUCATIONAL PROGRAMS. NY 501(C)(3) LINE #9 BUFFALO YACHT CLUB 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0