2024-12-23T09:05:06-06:00 2024-02-29 341912961 COHEN & COMPANY LTD OFFICES LISTED AT WWWCOHENCPACOM OH 44115 990 2023-03-01 380612810 THE GROSSE POINTE CLUB GROS 3138850400 6 BERKSHIRE PLACE GROSSE POINTE FARMS MI 48236 JON COLMAN CHAIRMAN 3138850400 2024-12-20 1 1 PARGAT SINGH P02184330 8002291099 2024-12-20 2023 2024-10-15 13:58:12Z JON COLMAN 6 BERKSHIRE PLACE GROSSE POINTE FARMS MI 48236 2454984 0 X WWW.GPCLUB.ORG X 1911 MI SOCIAL CLUB 14 14 102 0 218288 33629 63839 17713 1567634 1660524 0 0 463772 503511 2095245 2181748 0 0 0 0 1178531 1251845 0 0 0 1089318 1101681 2267849 2353526 -172604 -171778 2720007 2594238 801867 847876 1918140 1746362 PROVIDE PLEASURE, RECREATION AND SOCIAL OPPORTUNITIES TO THE MEMBERS OF THE GROSSE POINTE CLUB. 0 0 PROVIDE PLEASURE, RECREATION, AND SOCIAL OPPORTUNITIES TO AN AVERAGE OF 239 MEMBERS AT THE GROSSE POINTE CLUB. 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 0 0 0 1 12 0 102 1 1 1 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 1 0 0 MI X MICHAEL PALAZZOLO 3138850400 6 BERKSHIRE PLACE GROSSE POINTE FARMS MI 48236 X MR JON COLMAN CHAIRMAN 1.00 X X 0 0 0 MR JAMES VAN DYKE VICE CHAIRMAN 1.00 X X 0 0 0 MR JOHN FAUSTER IV SECRETARY 1.00 X X 0 0 0 MRS SCOTTIE KNIGHT TREASURER 1.00 X X 0 0 0 MR DANIEL SMALE GOVERNOR 1.00 X 0 0 0 MR GREG CORBETT GOVERNOR 1.00 X 0 0 0 MR JAMES CANDLER JR GOVERNOR 1.00 X 0 0 0 MR PATRICK HOPPER GOVERNOR 1.00 X 0 0 0 MR WARD DETWILER GOVERNOR 1.00 X 0 0 0 MRS ANNE MILLIGAN GOVERNOR 1.00 X 0 0 0 MRS MARY BETH NICHOLSON GOVERNOR 1.00 X 0 0 0 MR DAVID NICHOLSON GOVERNOR 1.00 X 0 0 0 MRS DENISE DEANE GOVERNOR 1.00 X 0 0 0 MR THOMAS FANNING GOVERNOR 1.00 X 0 0 0 JON MATWAY GENERAL MANAGER 40.00 X 128254 0 9384 128254 0 9384 1 0 0 0 0 17713 17713 DUES-FOR MEMBER BENEFI 900099 1330539 1330539 DOCK RENT 531190 177975 177975 INITIATION FEES 900099 87000 87000 MISCELLANEOUS INCOME 713910 65010 65010 1660524 34629 0 34629 34629 34629 742118 273236 468882 285223 183659 2181748 1945747 218288 0 137638 883639 32976 93366 104226 27640 79731 16860 252287 386001 9781 13838 194149 72219 MEALS & ENTERTAINMENT 42126 FEDERAL INCOME TAX 7049 2353526 36415 40125 103017 55095 54054 63206 93036 111339 6347264 4022791 2433485 2324473 2720007 2594238 133901 152583 96416 99113 571550 596180 801867 847876 X 1918140 1746362 1918140 1746362 2720007 2594238 -171778 0 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 95060 95060 4955035 3242828 1712207 384665 285903 98762 912504 494060 418444 2324473 X 2454984 273236 273236 2181748 0 2181748 2626762 273236 273236 2353526 0 2353526 PART X, LINE 2: THE CLUB IS A NOT-FOR-PROFIT CORPORATION EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. THE CLUB IS, HOWEVER, SUBJECT TO TAX ON ITS UNRELATED BUSINESS TAXABLE INCOME (UBTI), WHICH CONSISTS OF FOOD AND BEVERAGE SALES TO NON-MEMBERS AND RENTAL INCOME. UNUSED NET OPERATING LOSSES (NOL) OF APPROXIMATELY $2,021,000 AS OF FEBRUARY 28, 2024, ARE AVAILABLE TO OFFSET ANY UBTI LIABILITY. THE NOL'S EXPIRE IN VARIOUS YEARS THROUGH 2040. DEFERRED TAX ASSETS RESULTING FROM THE NOL'S OF APPROXIMATELY $303,000 AS OF FEBRUARY 28, 2024, ARE FULLY RESERVED BY A VALUATION ALLOWANCE DUE TO MANAGEMENT'S BELIEF THAT THE LOSSES WILL NOT BE UTILIZED. THE VALUATION ALLOWANCE INCREASED BY $78,000 FOR THE YEAR ENDED FEBRUARY 28, 2024. THE CLUB ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH GAAP, WHICH REQUIRES RECOGNITION OF AND DISCLOSURE RELATED TO UNCERTAIN TAX POSITIONS. AS OF AND DURING THE YEAR ENDED FEBRUARY 28, 2024, THE CLUB DID NOT HAVE A LIABILITY FOR UNRECOGNIZED TAX BENEFITS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COGS NETTED WITH REVENUE 273,236. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS NETTED WITH REVENUE 273,236. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE GROSSE POINTE CLUB ELECT THE BOARD OF GOVERNORS ANNUALLY. FORM 990, PART VI, SECTION A, LINE 8B NO COMMITTEES ARE ORGANIZED SEPARATE FROM THE GOVERNING BODY, WHICH IS THE BOARD OF GOVERNORS. FORM 990, PART VI, SECTION B, LINE 11B REVIEWED BY CHAIRMAN. FORM 990, PART VI, SECTION B, LINE 15A THE GENERAL MANAGER IS THE ONLY EMPLOYEE THAT IS A TOP MANAGEMENT OFFICIAL. THE GENERAL MANAGER'S COMPENSATION PACKAGE IS DETERMINED BY THE BOARD OF GOVERNORS AND REVIEWED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING AND FINANCIAL DOCUMENTS ARE AVAILABLE TO MEMBERS AT THE ANNUAL MEETING. THE INFORMATION IS ALSO AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR