2025-09-15T10:02:22-05:00 2024-12-31 331374517 PKF O'CONNOR DAVIES LLP 40 WESTMINSTER STREET SUITE 600 PROVIDENCE RI 02903 990 2024-01-01 301128021 GREAT HARBOR YACHT CLUB FOUNDATION INC GREA 5086805033 96 WASHINGTON STREET NANTUCKET MA 02554 PAUL COLLINS PRESIDENT 5086805033 2025-08-11 1 1 KERRI RAWCLIFFE P01398485 4016216200 2025-08-11 2024 2025-03-06 01:10:19Z PAUL COLLINS 96 WASHINGTON STREET NANTUCKET MA 02554 835950 0 X HTTPS://WWW.GHYC.COM/PUBLIC/GHYC-FOUNDATION X 2018 MA THE ORGANIZATION WILL WORK WITH THE NANTUCKET NATURAL RESOURCES DEPARTMENT AND OTHER ORGANIZATIONS TO PROMOTE THE HEALTH OF NANTUCKET HARBOR AND ITS MARINE ECOSYSTEMS. RECENTLY FUNDED PROJECTS INCLUDED NANTUCKET STORMWATER MONITORING, A HARBOR HEALTH SCORECARD, YOUTH HARBOR EDUCTION PROGRAM, AND OCEAN ACIDIFICATION BUOY. UPCOMING PROJECTS INCLUDE SCALLOP RESEARCH AND MENTORING PROGRAM, EELGRASS MANAGEMENT PLAN, NANTUCKET HARBOR HEALTH INTEGRATION INITIATIVE, MICROPLASTICS STUDY, AMONG OTHERS. 14 14 0 15 0 0 412760 516013 0 0 138125 138659 184294 -321666 735179 333006 111732 162615 0 0 0 0 0 0 0 96063 156678 207795 319293 527384 13713 3150084 3443064 661 842 3149423 3442222 X THE PURPOSE OF THE CORPORATION IS TO ACT AS A NOT-FOR-PROFIT ORGANIZATION WITH A PRIMARY MISSION OF PROMOTING THE HEALTH OF NANTUCKET ISLANDS HARBOR AND ITS MARINE ECOSYSTEM. THE CORPORATION WILL WORK WITH THE NANTUCKET DEPARTMENT OF NATURAL RESOURCES AND OTHER GOVERNMENTAL AND NONGOVERNMENTAL ORGANIZATIONS, GROUPS AND INDIVIDUALS IN FURTHERANCE OF ITS PRIMARY MISSION AND OTHER ACTIVITIES. THE CORPORATION MAY SOLICIT DONATIONS, MAKE GRANTS AND OTHERWISE ENGAGE IN ANY AND ALL ACTIVITIES PERMITTED TO A NOT-FOR-PROFIT CORPORATION WHETHER IN FURTHERANCE OF ITS MISSION OR OTHER CHARITABLE ENDEAVORS, OTHER ACTIONS AS MAY BE NECESSARY OR EXPEDIENT FOR THE ADMINISTRATION OF THE AFFAIRS AND ATTAINMENT OF THE PURPOSES OF THE CORPORATION, AND FOR ALL OTHER ACTIVITIES LEGAL AND CONSISTENT WITH THE OPERATION OF A NON-PROFIT CORPORATION IN THE COMMONWEALTH OF MASSACHUSETTS. 0 0 162615 162615 3600 THE GREAT HARBOR YACHT CLUB FOUNDATION WAS FORMED IN 2018 AND IS DEDICATED TO THE PROMOTION AND PRESERVATION OF NANTUCKET HARBOR AND ITS MARINE ECOSYSTEM. THE FOUNDATION WILL WORK WITH THE TOWN OF NANTUCKET'S DEPARTMENT OF NATURAL RESOURCES AND OTHERS TO FUND PROJECTS WHICH MIGHT OTHERWISE GO UNFUNDED IN FURTHERANCE OF THE FOUNDATION'S MISSION AND THE TOWN OF NANTUCKET'S STRATEGIC HARBOR PLAN. DURING THE YEAR THE FOUNDATION HAD ITS INITIAL GALA AND CAPITAL CAMPAIGN TO RAISE MONEY TO SUPPORT ITS MISSION MOVING FORWARD. 162615 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 CA FL MA MD NJ PA VA X X KERRY TILTON 5086805033 96 WASHINGTON STREET NANTUCKET MA 02554 X PAUL COLLINS PRESIDENT 1.00 X X 0 0 0 MATTHEW DWYER VICE PRESIDENT 1.00 2.00 X X 0 0 0 WILLIAM EINSTEIN TREASURER 1.00 2.00 X X 0 0 0 CYNTHIA FOWLER CLERK 1.00 2.00 X X 0 0 0 KAREN KETTERER DIRECTOR 1.00 X 0 0 0 JOSEPH SMIALOWSKI DIRECTOR 1.00 X 0 0 0 MARCUS FULLER BOARD MEMBER 1.00 X 0 0 0 EDWARD BERNARD BOARD MEMBER 1.00 X 0 0 0 BROOKE STANTON BOARD MEMBER 1.00 X 0 0 0 ELLIOT GEWIRTZ CHAIRMAN EMERITUS 1.00 X 0 0 0 FLIP HUFFARD DIRECTOR 1.00 X 0 0 0 JEFF KRUPA DIRECTOR 1.00 X 0 0 0 EDWARD ORENSTEIN BOARD MEMBER 1.00 X 0 0 0 MELINDA PULJIC BOARD MEMBER 1.00 X 0 0 0 0 0 0 0 0 0 0 HANDY & DALLAIRE EVENTS PO BOX 1101 NANTUCKET MA 02554 EVENT PLANNING & RENTALS 171081 1 173500 342513 516013 88752 88752 49907 0 49907 49907 49907 177678 173500 502944 -325266 -325266 OTHER REVENUE 900099 3600 3600 3600 333006 3600 0 -186607 162615 162615 79878 79878 3933 3933 11557 11557 90 90 3450 3450 OTHER PROGRAM EXPENSES 57770 57770 319293 162615 156678 0 74080 152154 2888818 3227474 187186 61936 1500 3150084 3443064 661 842 661 842 X 3129423 3422222 20000 20000 3149423 3442222 3150084 3443064 13713 279086 0 X X 0 1 X 1 0 X 141902 198299 430437 412760 516013 1699411 141902 198299 430437 412760 516013 1699411 563214 1136197 7853 19169 145 138125 138659 303951 2003362 780690 0.56710 0.74810 X SCHEDULE A, PART II, COLUMN (D) 2018: THE ORGANIZATION IS REPORTING A SHORT YEAR FOR THE YEAR ENDING 12/31/18. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 1115036 279086 279086 835950 -502944 -502944 333006 822237 0 822237 -502944 -502944 319293 PART X, LINE 2: THE FOUNDATION RECOGNIZED THE EFFECTS OF INCOME TAX POSITIONS WHEN THEY ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE FOUNDATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE FOUNDATION IS SUBJECT TO FEDERAL OR STATE INCOME TAX EXAMINATIONS FOR PERIODS SINCE INCEPTION. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUND RAISING EXPENSES -502,944. PART XII, LINE 4B - OTHER ADJUSTMENTS: FUND RAISING EXPENSES -502,944. DINNER 351178 173500 177678 52990 206364 96086 125657 21867 351178 173500 177678 52990 206364 96086 125657 21867 502964 -325286 0 MARIA MITCHELL ASSOCIATION 4 VESTAL STREET NANTUCKET MA 02554 042129139 501C3 84515 0 TO OCEAN ACIDIFICATION BUOY GRANT AND TO SUPPORT SCALLOP RESEARCH AND MENTORSHIP PROGRAM NANTUCKET LAND & WATER COUNCIL PO BOX 502 NANTUCKET MA 02554 510180597 501C3 37500 0 TO SUPPORT STORM WATER SAMPLING PROGRAM NANTUCKET FIELD STATION - UMASS 180 POLPIS ROAD NANTUCKET MA 02554 501C3 13000 0 DONATION MADE FOR SUPPORTING OUR YOUTH PROGRAM EGAN MARITIME INSTITUTE 3 FREEDOM SQ PO BOX 2923 NANTUCKET MA 02584 046604534 501C3 2600 0 DONATION MADE FOR SUPPORTING SAFE BOATING AND VESSEL COURSE FORM 990, PART VI, SECTION B, LINE 11B THE FOUNDATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED AND REVIEWED BY MANAGEMENT, IT IS ELECTRONICALLY SENT TO THE MEMBERS OF THE FINANCE COMMITTEE FOR ANY COMMENTS. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND REVIEWED WITH MANAGEMENT AND THE ACCOUNTING FIRM. ALL ISSUES ARE DOCUMENTED AND ADDRESSED. THE FORM 990 IS THEN SUBMITTED TO THE FULL BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION HAS A WRITTEN CONFLICT OF INTEREST POLICY, WHICH APPLIES TO ALL BOARD MEMBERS AND OFFICERS, THAT IS MONITORED AND ENFORCED ANNUALLY. ALL BOARD MEMBERS AND OFFICERS ARE REQUIRED TO COMPLETE AN ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENT. IN THE EVENT THAT THE BOARD SHOULD ESTABLISH THAT A PROPOSED TRANSACTION OR ARRANGEMENT ESTABLISHES A CONFLICT OF INTEREST, THE BOARD SHALL THEN PROCEED WITH THE FOLLOWING ACTIONS: (1) ANY INTEREST INDIVIDUAL MAY RENDER A REQUEST OR REPORT AT THE BOARD MEETING, BUT UPON COMPLETION OF SAID REQUEST OR REPORT THE INDIVIDUAL SHALL BE EXCUSED WHILE THE BOARD DISCUSSES THE INFORMATION AND/OR MATERIAL PRESENTED, AND THEN VOTES ON THE TRANSACTION OR ARRANGEMENT PROPOSED INVOLVING THE POSSIBLE CONFLICT OF INTEREST; (2) THE PRESIDENT OF THE BOARD SHALL, IF DEEMED NECESSARY AND APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT; (3) AFTER EXERCISING DUE DILIGENCE, THE BOARD SHALL DETERMINE WHETHER THE FOUNDATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST; (4) IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTEREST DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE FOUNDATION'S BEST INTEREST, FOR ITS OWN BENEFIT AND WHETHER IT IS FAIR AND REASONABLE. IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION ARRANGEMENT IN CONFORMITY WITH THIS DETERMINATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. FORM 990 IS POSTED GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE ALSO AVAILABLE UPON WRITTEN REQUEST AT 96 WASHINGTON STREET, NANTUCKET, MA 02554 OR BY CALLING THE ORGANIZATION DIRECTLY AT 508-680-5033. PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE ORGANIZATION'S FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR.