2024-04-11T16:07:55-05:00 2023-05-31 592840381 PHILLIPS FELDMAN GROUP 801 LAUREL OAK DRIVE SUITE 303 NAPLES FL 341082764 990 2022-06-01 592640521 ISLAND COUNTRY CLUB INC ISLA 2393946661 500 NASSAU COURT MARCO ISLAND FL 34145 RICHARD CORLEY TREASURER 2393946661 2024-04-11 1 RICHARD CORLEY 999009999 0 NATHAN A PHILLIPS CPA P00189856 2395661600 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z GERARD SHANNON 500 NASSAU COURT MARCO ISLAND FL 34145 13974846 0 X WWW.ISLAND-COUNTRYCLUB.ORG X 1986 FL THE ISLAND COUNTRY CLUB, INC. IS A SOCIAL CLUB WHOSE EXEMPT PURPOSE IS TO PROMOTE SOCIAL INTERACTION OF CLUB MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES. 9 9 179 25 255840 44769 0 0 8286636 10650134 -533604 41431 1191638 1571576 8944670 12263141 0 0 0 0 5405329 6447943 0 0 0 5055837 7943890 10461166 14391833 -1516496 -2128692 38889615 44999615 12329220 17183670 26560395 27815945 THE ISLAND COUNTRY CLUB, INC. IS A SOCIAL CLUB WHOSE EXEMPT PURPOSE IS TO PROMOTE SOCIAL INTERACTION OF CLUB MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES. 0 0 TEH CLUB HAS ONE 18 HOLE GOLF COURSE. TOTAL ROUNDS OF GOLF PLAYED FOR THE YEAR ENDED 05/31/2023 WAS APPROXIMATELY 24,646 OF WHICH APPROXIMATELY 606 ROUNDS WERE NON-MEMBER RELATED. TOTAL FOOD & BEVERAGE REVENUE FOR THE YEAR ENDED 05/31/2023 WAS $2,675,005 OF WHICH $206,323 WAS NON-MEMBER RELATED. 0 0 0 0 0 0 0 0 0 1 0 0 1 1 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 1 130 0 1 179 1 1 1 0 0 0 1 1 506000 295151 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 0 0 1 1 1 0 X X ANN MARIE MEGENIS CFO 2393946661 500 NASSAU CT MARCO ISLAND FL 34145 PETER BOYNTON DIRECTOR 2.00 X 0 0 0 JIM BURSCH DIRECTOR 2.00 X 0 0 0 DONNA GLANZMAN DIRECTOR 2.00 X 0 0 0 HARRY RUBASH DIRECTOR 2.00 X 0 0 0 ROBERT STANOJEV DIRECTOR 2.00 X 0 0 0 WILLIAM ALBANESE PRESIDENT 2.00 X 0 0 0 SCOTT WELLIVER VICE PRESIDENT 2.00 X 0 0 0 GERARD SHANNON TREASURER 2.00 X 0 0 0 MARY APPOLLINA SECRETARY 2.00 X 0 0 0 BID BAKKAR GENERAL MANAGER 40.00 X 307032 0 31709 ANNETTE SCUTERI CONTROLLER 40.00 X 164074 0 28302 LOREN COGSWELL EXECUTIVE CHEF 40.00 X 102303 0 29855 MICHAEL SLACK COURSE SUPERINTENDENT 40.00 X 181905 0 26300 NINA LANE FITNESS DIRECTOR 40.00 X 111658 0 18679 866972 0 134845 5 0 1 0 0 MEMBERSHIP DUES 713910 6734711 6734711 HURRICANE IAN ASSESSMENTS 713910 2209400 2209400 GREENS AND CART RENTAL FEES 713910 1028751 943633 85118 JOINING FEES 713910 506000 506000 TENNIS AND FITNESS REVENUES 713910 91250 87540 3710 80022 80022 10650134 56269 56269 14838 -14838 -14838 -14838 3247337 1696867 1550470 1439727 110743 OTHER INCOME 713910 13559 13559 HURRICANE INSURANCE PROCEEDS 713910 7547 7547 21106 12263141 11999754 255840 7547 545730 4797479 76729 1028005 158417 132012 2167121 1001420 GOLF OPERATIONS 1573882 HURRICANE IAN EXPENSES 1360529 FOOD & BEVERAGE 707140 GENERAL AND ADMINISTRAT 314964 528405 14391833 5442537 6966282 1096415 545553 232017 301196 631419 1462801 43793072 12977483 17020446 30815589 14466781 4908194 38889615 44999615 3292108 3225610 2829402 3803292 6207710 10154768 12329220 17183670 X 26560395 27815945 26560395 27815945 38889615 44999615 X -2128692 3384242 X X 0 1 X 1 0 4527103 4527103 22755334 7520684 15234650 6597255 2180406 4416849 9913380 3276393 6636987 30815589 DEPOSITS 55813 DESIGNATED FUNDS 4692744 RIGHT OF USE ASSETS - FINANCE 159637 4908194 LONG TERM DEBT 9111266 FINANCE INSURANCE PAYABLE 872835 FINANCE LEASE LIABILITIES 170667 10154768 X 13974846 1711705 1711705 12263141 0 12263141 16103538 1711705 1711705 14391833 0 14391833 PART X, LINE 2: THE CLUB HAS EVALUATED ITS TAX POSITIONS AND CONCLUDED THAT THE CLUB HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAX TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC). PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 1,696,867. LOSS ON DISPOSAL 14,838. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 1,696,867. LOSS ON DISPOSAL 14,838. X X X 0 0 0 BID BAKKAR GENERAL MANAGER 223792 0 50000 0 33240 0 4737 0 26972 0 338741 0 0 0 MICHAEL SLACK COURSE SUPERINTENDENT 168605 0 13300 0 0 0 0 0 26300 0 208205 0 0 0 ANNETTE SCUTERI CONTROLLER 119074 0 18000 0 27000 0 4375 0 23927 0 192376 0 0 0 PART I, LINE 3 COMPENSATION COMMITTEE MEETS DURING THE BUDGET PROCESS AND IN CONJUNCTION WITH THE FINANCE COMMITTEE RECOMMENDS EMPLOYEE SALARY INCREASES AND PERFORMANCE BONUSES. FORM 990, PART VI, SECTION A, LINE 6 THE CLUB IS A PRIVATE MEMBER-OWNED CLUB THAT IS OWNED AND OPERATED FOR THE PLEASURE AND RECREATION OF ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE FOLLOWING MEMBERSHIP CATEGORIES HAVE VOTING PRIVILEGES: GOLF EQUITY MEMBERS. GOLF EQUITY MEMBERS CAN VOTE TO ELECT MEMBERS OF THE NOMINATING COMMITTEE. THE NOMINATING COMMITTEE SELECTS THE BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B BOARD OF DIRECTORS DECISIONS SUBJECT TO MEMBERSHIP APPROVAL ARE PROPROSED AMENDMENTS OR REVISIONS TO THE BYLAWS, ADDITION OF MEMBERSHIP CATEGORIES, SINGLE CAPITAL PROJECTS $750,000 AND GREATER, AND SALE OF REAL PROPERTY AND/OR LEASE OF REAL PROPERTY FOR LONGER THAN ONE YEAR. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE COMMITTEE, CHAIRED BY THE CLUB TREASURER, REVIEWS FORM 990. THE FINANCE COMMITTEE THEN PRESENTS THE RETURN TO THE BOARD FOR FURTHER REVIEW AND APPROVAL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION STUDIES, INDUSTRY STUDIES, AND EMPLOYMENT CONTRACT AGREEMENTS ARE USED IN DETERMINATION AND DOCUMENTATION OF COMPENSATION. COMPENSATION COMMITTEE MEETS DURING THE BUDGET PROCESS, AND IN CONJUNCTION WITH THE FINANCE COMMITTEE, RECOMMENDS EMPLOYEE SALARY INCREASES AND PERFORMANCE BONUSES. FORM 990, PART VI, SECTION C, LINE 18 THE CLUB PROVIDES COPIES OF FORM 990 AND FORM 1024 UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAINTAIN A WRITTEN CONFLICT OF INTEREST POLICY. THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE ON THE CLUB WEBSITE OR AVAILABLE THROUGH INSPECTION AT THE CLUB. FORM 990, PART XI, LINE 9: ISSUANCE OF MEMBER CERTIFICATES 2,160,000. CAPITAL ASSESSMENT REFUNDS -113,500. NONREFUNDABLE CAPITAL IMPROVEMENT ASSESSMENTS 1,225,340. NONREFUNDABLE CLUBHOUSE RENOVATION ASSESSMENTS 659,902. REDEMPTION OF MEMBERSHIP CERTIFICATES -547,500. FORM 990, PART XII, LINE 2C: NO CHANGE FROM THE PRIOR YEAR.