2024-03-27T12:11:56-05:00 2023-09-30 341874260 CBIZ MHM LLC 700 WEST 47TH STREET SUITE 1100 KANSAS CITY MO 64112 990 2022-10-01 590433240 ST PETERSBURG YACHT CLUB INC STPE 7278223873 11 CENTRAL AVENUE ST PETERSBURG FL 33701 CHRISTIAN BERGSTROM TREASURER 7278223873 2024-03-22 1 CHRISTIAN BERGSTROM XXX-XX-XXXX 1 LISA BURKE P00220718 8169455500 2024-03-22 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z SCOTT BOYLE 11 CENTRAL AVENUE ST PETERSBURG FL 33701 17761455 0 X WWW.SPYC.ORG X 1916 FL ENCOURAGE AND SUPPORT YACHTING AND TO PROVIDE A SOCIAL ENVIRONMENT FOR OUR MEMBERS AND GUESTS. 18 18 244 150 554654 253905 0 220535 8821858 10447911 14129 251216 822693 25323 9658680 10944985 0 0 0 0 2481304 2887855 0 0 0 5650113 6085547 8131417 8973402 1527263 1971583 21076545 23847188 6997664 7753686 14078881 16093502 X TO ENCOURAGE YACHTING, TO ASSIST MEMBERS IN BECOMING PROFICIENT IN THE SCIENCE OF NAVIGATION AND IN THE DESIGNING, BUILDING, AND SAILING OF YACHTS, AND TO FURNISH AMUSEMENT AND ENTERTAINMENT AND TO SUPPLY FOOD AND BEVERAGES TO ITS MEMBERS AND GUESTS RESIDING IN THE AREA.THE CLUB OFFERS 88 DIFFERENT TYPES OF BOATS, INCLUDING 20 IOD PRAMS, 4 SONARS, 18 VANGUARD 420S, 14 VANGUARD PRAMS, 9 IDEAL 18S, 3 BRUNSWICK WHALERS, 4 BOSTON WHALERS, 1 MCKEE CRAFT, 1 COAST PILOT, 1 FRERS 30 SAILBOAT, 2 DINGHIES, 1 WINDMILL, AND 10 J/70 SAILBOATS. THE CLUB ALSO OFFERS 6 PADDLEBOARDS AND 4 KAYAKS. 0 0 A SAILING CENTER IS OPERATED BY THE CLUB UNDER AN AGREEMENT WITH THE CITY OF ST. PETERSBURG. DOCK OPERATIONS INCLUDE SLIP RENTALS AND SALE OF FUEL AND OTHER MARINE SUPPLIES TO MEMBERS. THE CLUB CONSISTED OF 2,403 MEMBERS AS OF SEPTEMBER 30, 2023. THE CLUB HOSTED 26 REGATTAS DURING THE YEAR ENDED SEPTEMBER 30, 2023, RANGING IN SIZE FROM LESS THAN 10 TO MORE THAN 300 BOATS, AND FROM LESS THAN 20 TO MORE THAN 800 PARTICIPANTS. THE "TYPICAL" REGATTA WILL RUN 3-6 RACES OVER THE PERIOD OF SEVERAL DAYS. DURING THIS TIME, THE PARTICIPANTS WILL BE TREATED TO NUMEROUS FOOD AND BEVERAGE FUNCTIONS AT THE CLUB, INCLUDING AN AWARDS BANQUET TO CLOSE THE REGATTA. FOOD, BEVERAGE, AND OTHER ENTERTAINMENT ACTIVITIES ARE PROVIDED TO THE CLUB'S MEMBERS. THE CLUB OPERATES THREE DINING ROOMS, THE HERITAGE LOUNGE, AND A TIKI HUT. SEVERAL BANQUET ROOMS ARE ALSO AVAILABLE FOR MEMBERS. 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 159 0 1 244 1 1 1 0 0 0 0 2866034 1763344 0 0 0 X 18 18 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 0 1 1 0 0 FL X COLLEEN FINNEY CONTROLLER 7278231061 11 CENTRAL AVENUE ST PETERSBURG FL 33701 BRIAN SMITH COMMODORE 3.00 X X 0 0 0 SCOTT BOYLE VICE COMMODORE 3.00 X X 0 0 0 JOSEPH DIVITO REAR COMMODORE 3.00 X X 0 0 0 CHRISTIAN BERGSTROM TREASURER 3.00 X X 0 0 0 VERONICA HICKEY SECRETARY 1.00 X X 0 0 0 JODY ABRAMS DIRECTOR 1.00 X 0 0 0 WAYNE ANDREWS DIRECTOR 1.00 X 0 0 0 FRED BICKLEY JR DIRECTOR 1.00 X 0 0 0 KEVIN CROSS DIRECTOR 1.00 X 0 0 0 JAMES DEININGER DIRECTOR 1.00 X 0 0 0 CHRISTOPHER FRASER DIRECTOR 1.00 X 0 0 0 MICHAEL FUNSCH DIRECTOR 1.00 X 0 0 0 MARY HACKER DIRECTOR 1.00 X 0 0 0 DONNA SUE MARKS DIRECTOR 1.00 X 0 0 0 JEANNIE O'GRADY DIRECTOR 1.00 X 0 0 0 GEORGE PENNINGTON DIRECTOR 1.00 X 0 0 0 CHAD SHAKESPEARE DIRECTOR 1.00 X 0 0 0 BILL WATERS II DIRECTOR 1.00 X 0 0 0 RHETT ROBICHEAUX GENERAL MANAGER 55.00 X 265703 0 29254 COLLEEN RILEY-FINNEY DIRECTOR OF FINANCE 55.00 X 168190 0 12092 SHAWN MACKING WATERFRONT DIRECTOR (THRU 5/12/23) 55.00 X 112069 0 1010 545962 0 42356 3 0 1 0 0 220535 220535 MEMBERSHIP DUES 713990 6323606 6323606 INITIATION FEES 713990 1723688 1723688 CAPITAL CONTRIBUTIONS 713990 1142346 1142346 BOAT SLIPS 713990 598315 598315 SAILING CENTER 713990 488753 488753 171203 48209 122994 10447911 205796 205796 33086 0 33086 33086 33086 45420 0 45420 45420 44063 1357 6773927 6816470 -42543 -241255 198712 PARKING FEES 713990 28365 2570 25795 6415 6415 34780 10944985 10169796 554654 0 493391 1864249 7467 302407 220341 29386 20786 77655 363683 78059 1372948 1609597 14695 7849 954040 631940 ENTERTAINMENT AND DECOR 611311 REGATTAS 234089 INCOME TAXES 12897 BAD DEBT 2400 64212 8973402 7402121 3960102 6666554 9299064 512296 497486 223480 272330 386078 653073 26966046 17800913 5886016 9165133 21076545 23847188 1743373 1919070 5254291 5834616 6997664 7753686 X 14078881 16093502 14078881 16093502 21076545 23847188 1971583 43038 0 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1267370 1267370 13473429 10906834 2566595 8491155 6894079 1597076 3734092 3734092 9165133 X 17491304 43038 6734317 6777355 10713949 231036 231036 10944985 15476683 6503281 6503281 8973402 0 8973402 PART X, LINE 2: THE CLUB IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE. ALTHOUGH CLUBS EXEMPT UNDER SECTION 501(C)(7) PAY NO TAX ON THEIR EXEMPT FUNCTION INCOME, THEY CAN BE LIABLE FOR BUSINESS TAX ON INCOME THEY EARN FROM ACTIVITIES NOT RELATED TO THEIR EXEMPT PURPOSE. THE CLUB HAS RECORDED A PROVISION FOR AN INCOME TAX EXPENSE AND BENEFIT IN THE AMOUNT OF $12,897 AND $2,244 FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022, RESPECTIVELY. THE CLUB FOLLOWS ASC TOPIC 740, INCOME TAXES. A COMPONENT OF ASC TOPIC 740 PRESCRIBES A RECOGNITION AND MEASUREMENT THRESHOLD FOR TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. FOR THOSE BENEFITS TO BE RECOGNIZED, A TAX POSITION MUST BE MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THERE WAS NO MATERIAL IMPACT ON THE CLUB'S FINANCIAL POSITION OR CHANGES IN NET ASSETS AS A RESULT OF THE APPLICATION OF ASC TOPIC 740. THE CLUB'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ASSOCIATED WITH TAX POSITIONS UNDER THIS STANDARD, AND NONE WERE RECOGNIZED SINCE THERE WAS NO MATERIAL IMPACT BY THE OVERALL APPLICATION OF ASC TOPIC 740. THE CLUB'S INFORMATION RETURNS ARE OPEN TO INTERNAL REVENUE SERVICE EXAMINATION FOR THE 2019 TAX YEAR ENDED SEPTEMBER 30, 2020 AND ALL SUBSEQUENT YEARS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COGS EXPENSES NETTED AGAINST REVENUES 6,734,317. PART XI, LINE 4B - OTHER ADJUSTMENTS: GOVERNMENT GRANT - ERTC 220,535. BANQUET RENTALS NET WITH EXPENSE IN FINANCIAL STATEMENTS 10,501. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS EXPENSES NETTED AGAINST REVENUES 6,734,317. GOVERNMENT GRANT - ERTC REPORTED AS REVENUE IN PART VIII -220,535. BANQUET RENTALS NET WITH EXPENSE IN FINANCIAL STATEMENTS -10,501. X X X 0 0 0 RHETT ROBICHEAUX GENERAL MANAGER 238103 0 27600 0 0 0 0 0 29254 0 294957 0 0 0 COLLEEN RILEY-FINNEY DIRECTOR OF FINANCE 152940 0 15250 0 0 0 1663 0 10429 0 180282 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS ORGANIZED AS A NON-STOCK, NONPROFIT CORPORATION WITH MEMBERS. THE ORGANIZATION'S MEMBERS HAVE THE RIGHT TO PARTICIPATE IN THE ORGANIZATION'S GOVERNANCE, TO ELECT MEMBERS OF THE GOVERNING BODY, AND TO APPROVE SIGNIFICANT DECISIONS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION'S MEMBERS ELECT THE MEMBERS OF THE GOVERNING BODY. THE ANNUAL ELECTION IS HELD THE SECOND TUESDAY IN OCTOBER OF EACH YEAR. BOARD MEMBERS ARE ELECTED FOR A THREE (3) YEAR TERM, WITH 18 TOTAL MEMBERS ON THE BOARD. UP TO SIX (6) MEMBERS ARE ELECTED EACH YEAR BASED UPON THE EXPIRING TERMS. FORM 990, PART VI, SECTION A, LINE 7B THE ORGANIZATION'S MEMBERS HAVE THE RIGHT TO APPROVE SIGNIFICANT DECISIONS OF THE GOVERNING BODY, SUCH AS CHANGES TO THE BY-LAWS, DISSOLUTION OF THE ORGANIZATION, AND SIGNIFICANT CHANGES TO THE ORGANIZATION'S FUNCTIONS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE CONTROLLER, THEN IS MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR THEIR REVIEW PRIOR TO BEING SIGNED BY THE COMMODORE. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS, EXECUTIVE COMMITTEE MEMBERS, FINANCE COMMITTEE AND MEMBERSHIP COMMITTEE MEMBERS SIGN THE POLICY EACH YEAR. SHOULD A CONFLICT OF INTEREST COME TO LIGHT, THE BOARD OF DIRECTORS WOULD REVIEW AND DECIDE THE NEXT COURSE OF ACTION, UP TO AND INCLUDING REMOVAL FROM THEIR POSITION IN A GOVERNING BODY OF THE CLUB. FORM 990, PART VI, SECTION B, LINE 15A THE GENERAL MANAGER HAS A WRITTEN CONTRACT THAT IS APPROVED BY THE BOARD OF DIRECTORS. COMPARABILITY DATA THROUGH MCGLADREY SURVEYS AS WELL AS THE CMAA DATABASE IS USED TO DETERMINE ALL COMPENSATION. THE AUTHORITY MATRIX ALLOWS THE GENERAL MANAGER TO HIRE ALL EMPLOYEES UP TO THE DEPARTMENT HEAD LEVEL, AND ANY SENIOR MANAGEMENT POSITIONS (GREATER THAN $100,000 IN COMPENSATION) IS REQUIRED TO HAVE THE INPUT OF THE FLAG OFFICERS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE ON OUR WEBSITE. CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FROM THE CONTROLLER. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE IS COMPRISED OF A SUB-SET OF THE FINANCE COMMITTEE, WHO IS RESPONSIBLE FOR THE SELECTION OF THE INDEPENDENT CPA FIRM AND FOR THE CONDUCT OF THE ANNUAL FINANCIAL STATEMENT AND COMPLIANCE AUDITS. THE REQUEST FOR PROPOSAL IS TYPICALLY FOR A THREE-YEAR COMMITMENT. THE FINAL SELECTION OF THE CPA FIRM IS APPROVED BY THE FINANCE COMMITTEE. THE TREASURER SIGNS THE ENGAGEMENT LETTER WHICH EXPLAINS THE SERVICES AND ARRANGEMENTS OF THE AUDIT. AT THE CONCLUSION OF THE AUDIT, THE CPA FIRM MEETS WITH THE FINANCE COMMITTEE AND THE FULL BOARD OF DIRECTORS TO DISCUSS THE RESULTS OF THE AUDIT. IN ADDITION, THE FINANCE COMMITTEE IS RESPONSIBLE FOR ENSURING THAT ADEQUATE INTERNAL CONTROLS ARE IN PLACE TO SAFEGUARD THE ASSETS OF THE CLUB, REVIEWING THE MONTHLY FINANCIAL STATEMENTS, AND FOR MONITORING RISK MANAGEMENT AND COMPLIANCE PRACTICES OF THE CLUB. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.