2024-01-30T09:29:08-05:00 2023-06-30 592067969 DEES & DEES CPA'S PA 3440 CONWAY BLVD SUITE 2C PORT CHARLOTTE FL 33952 990 2022-07-01 010597016 PELICAN ISLE YACHT CLUB INC PELI 2395661606 410 DOCKSIDE DRIVE NAPLES FL 34110 JAMES SWIFT TREASURER 2395661606 2024-01-19 JAMES SWIFT 999009999 false FRED B DEES JR P00013501 9416297595 2024-01-19 2022 2023-04-26 12:10:37Z ROBERT FLAHERTY 1254036 false X WWW.PIYC.NET X 2002 FL PELICAN ISLE YACHT CLUB, INC. IS A NON-FOR-PROFIT CORPORATION ORGANIZED UNDER CHAPTER 617 OF THE LAW OF THE STATE OF FLORIDA. THE SPECIFIC PURPOSE OF THE CLUB IS TO OWN AND OPERATE A PRIVATE YACHTING AND SOCIAL CLUB FOR THE PURPOSE OF PROVIDING DINING, MARINA AND OTHER FACILITIES FOR THE BENEFIT AND ENJOYMENT OF ITS MEMBERS, THEIR FAMILIES AND THEIR GUESTS. 10 10 100 46736 8485 0 3416325 3772206 6421 41010 669191 -3045089 4091937 768127 0 0 2387334 2586094 0 0 2652276 4756721 5039610 7342815 -947673 -6574688 29043480 40184028 6230295 19021204 22813185 21162824 X PELICAN ISLE YACHT CLUB IS A NON-FOR-PROFIT CORPORATION UNDER CHAPTER 617 OF THE LAW OF THE STATE OF FLORIDA. THE SPECIFIC PURPOSE OF THE CLUB IS TO OWN AND OPERATE A PRIVATE YACHTING AND SOCIAL CLUB FOR THE PURPOSE OF PROVIDING DINING, MARINA AND OTHER FACILITIES FOR THE BENEFIT AND ENJOYMENT OF ITS MEMBERS, THEIR FAMILIES AND THEIR GUESTS. false false 7328529 THE CLUB OWNS AND OPERATES A PRIVATE YACHTING AND SOCIAL CLUB AND PROVIDES DINING, MARINA AND OTHER FACILITIES AND ACTIVITIES FOR THE BENEFIT AND ENJOYMENT OF ITS MEMBERS, THEIR FAMILIES AND THEIR GUESTS. 14286 THE CLUB OWNS AND OPERATES A PRIVATE YACHTING AND SOCIAL CLUB AND PROVIDES DINING, MARINA AND OTHER FACILITIES AND ACTIVITIES FOR THE BENEFIT AND ENJOYMENT OF ITS MEMBERS, THEIR FAMILIES AND THEIR GUESTS. 14286 7342815 false false false false false false false false false true false false true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 18 0 true 100 true true true false false false false false false false X 10 10 false false false false true true true true true false false false true true true true true false true false X LOGAN QUATAERT CFO 2395661606 410 DOCKSIDE NAPLES FL 34110 X JEFF CARR SECRETARY X X 0 0 0 ROBERT FLAHERTY COMMODORE X X 0 0 0 KAREN HENDRICKS IMMEDIATE PA X X 0 0 0 LARRY HUGGETT DIRECTOR X 0 0 0 JOHN KANE VICE COMMODO X X 0 0 0 DAVE KUTLICK DIRECTOR X 0 0 0 KEVIN MCCABE REAR COMMODO X X 0 0 0 KATHLEEN MURRAY DIRECTOR X 0 0 0 BRETT NUCKOLLS DIRECTOR X 0 0 0 JAMES SWIFT TREASURER X X 0 0 0 false false false MEMBERSHIP DUES 2938026 2938026 MARINA MAINTENANCE FEES 799652 799652 SHIP STORE, FITNESS & OTHER 34528 34528 3772206 41010 41010 1020671 485909 534762 529036 5726 MISCELLANEOUS INCOME 89873 89873 LOSS ON DISPOSAL -3669724 -3669724 -3579851 768127 721391 46736 X 2217124 2217124 178609 178609 190361 190361 107367 107367 10573 10573 17690 17690 50099 50099 29425 29425 676408 676408 328989 328989 HURRICANE EXPENSES 2036623 2036623 MASTER ASSESSMENT 334552 334552 REPAIRS & MAINTENANCE 157878 157878 OTHER EXPENSES 153298 153298 853819 853819 7342815 7342815 0 0 2228249 10570115 2535179 2863830 79893 73919 250823 484304 29932730 8683199 17722009 21249531 6227327 4942329 29043480 40184028 1279591 2272056 2911321 3320000 2039383 13429148 6230295 19021204 X 22345685 21162824 467500 22813185 21162824 29043480 40184028 X -6574688 4924327 X false true X true false 9961222 9961222 11192318 8683199 2509119 2109536 2109536 14579877 CLUB RESERVE 1529317 CLUB UMBRELLA, DESIGNATED 1341295 MARINA RESERVE, DESIGNATED 841285 MARINA CAPITAL RESERVE, DESIGNATED 790517 CLUB CAPITAL RESERVE, DESIGNATED 437415 DEPOSITS 2500 4942329 HURRICANE ASSESSMENT 11739110 CAPITAL BANK LOAN 1690038 13429148 4923760 4923760 -4155633 -4155633 768127 5115693 5115693 2227122 2227122 7342815 SCHEDULE D, PAGE 4, PART XI, LINE 4B LOSS ON DISPOSAL -3,669,724 COST OF GOODS SOLD -485,909 SCHEDULE D, PAGE 4, PART XII, LINE 4B HURRICANE EXPENSE 2,036,623 DEPRECIATION 676,408 COST OF GOODS SOLD -485,909 FORM 990 - ORGANIZATION'S MISSION PELICAN ISLE YACHT CLUB IS A NON-FOR-PROFIT CORPORATION UNDER CHAPTER 617 OF THE LAW OF THE STATE OF FLORIDA. THE SPECIFIC PURPOSE OF THE CLUB IS TO OWN AND OPERATE A PRIVATE YACHTING AND SOCIAL CLUB FOR THE PURPOSE OF PROVIDING DINING, MARINA AND OTHER FACILITIES FOR THE BENEFIT AND ENJOYMENT OF ITS MEMBERS, THEIR FAMILIES AND THEIR GUESTS. FORM 990, PAGE 2, PART III, LINE 4D THE CLUB OWNS AND OPERATES A PRIVATE YACHTING AND SOCIAL CLUB AND PROVIDES DINING, MARINA AND OTHER FACILITIES AND ACTIVITIES FOR THE BENEFIT AND ENJOYMENT OF ITS MEMBERS, THEIR FAMILIES AND THEIR GUESTS. FORM 990, PAGE 6, PART VI, LINE 6 THE CLUB IS COMPRISED OF EQUITY MEMBERS RATHER THAN SHAREHOLDERS. THE CLUB'S MEMBERSHIPS INCLUDE EQUITY SOCIAL AND EQUITY YACHT MEMBERSHIPS, WHICH ARE SOMETIMES REFERRED TO COLLECTIVELY AS EQUITY MEMBERSHIPS. EQUITY SOCIAL MEMBERS ARE ENTITLED TO USE ALL OF THE SOCIAL FACILITIES OF THE CLUB, INCLUDING THE CLUBHOUSE, PRIVATE DINING ROOM AND LOUNGE, MAIN DINING ROOM, FITNESS CENTER, BOCCE COURTS, SWIMMING POOL, TENNIS FACILITIES AND PICKLEBALL. AVAILABLE UNOCCUPIED MARINA SLIPS THAT ARE NOT USED BY EQUITY YACHT MEMBERS MAY BE AVAILABLE FOR USE BY EQUITY SOCIAL MEMBERS OF THE CLUB ON A TRANSIENT BASIS. ON ALL MATTERS TO BE VOTED UPON BY THE EQUITY MEMBERS, EQUITY SOCIAL MEMBERS ARE ENTITLED TO ONE VOTE PER MEMBERSHIP IN ACCORDANCE WITH THE BY-LAWS. THE CLUB ALSO OFFERS EQUITY YACHT MEMBERSHIPS TO EQUITY SOCIAL MEMBERS. THE PURCHASER OF AN EQUITY YACHT MEMBERSHIP WILL BE ENTITLED TO EXCLUSIVE USE OF A DESIGNATED MARINA SLIP UPON PAYMENT OF THE REQUIRED DUES AND FEES AND COMPLYING WITH THE BY-LAWS AND THE GENERAL MARINA RULES. EACH EQUITY YACHT MEMBER WILL BE ENTITLED TO ONE VOTE ON ALL MATTERS CONCERNING THE MARINA FACILITIES WHICH ARE SCHEDULED TO BE VOTED UPON BY THE EQUITY YACHT MEMBERS. EQUITY YACHT MEMBERS NOT USING THEIR SLIPS MAY MAKE THEM AVAILABLE ONLY THROUGH THE DOCK MASTER FOR USE BY OTHER MEMBERS OF THE CLUB OR GUESTS OF THE CLUB, IN ACCORDANCE WITH THE TERMS AND CONDITIONS FOR LEASING AVAILABLE SLIPS AS ESTABLISHED BY THE CLUB. NON EQUITY SOCIAL MEMBERS ARE NON-VOTING MEMBERS WHO HAVE USE OF THE CLUB'S DINING FACILITIES, FITNESS CENTER, SPA AND POOL,TENNIS, CANOES, KAYAKS, BEACH SHUTTLE AND ATTENDANCE TO ALL CLUB EVENTS. FORM 990, PAGE 6, PART VI, LINE 7A THE BOARD OF DIRECTORS IS COMPRISED ON NINE (9) EQUITY MEMBERS WHO ARE ELECTED BY THEIR PEERS AT AN ANNUAL MEETING. DIRECTORS NORMALLY SERVE FOR A TERM OF THREE (3) YEARS, WHICH ARE STAGGERED, SO THAT THREE (3) NEW DIRECTORS ARE ELECTED EACH YEAR. THE BOARD THEN SELECTS WHICH OF THEM WILL BE THE COMMODORE, VICE COMMODORE, AND REAR COMMODORE FOR THE NEXT YEAR. FORM 990, PAGE 6, PART VI, LINE 7B THE MEMBERSHIP PLAN, THE BY-LAWS AND THE CERTIFICATE OF INCORPORATION MAY BE ALTERED, AMENDED, OR REPEALED OR NEW MEMBERSHIP DOCUMENTS MAY BE ADOPTED, ONLY BY: (A) A MAJORITY VOTE OF ALL THE MEMBERS OF THE BOARD OF DIRECTORS, AND (B) A MAJORITY OF THE VOTES CAST BY EQUITY MEMBERS IN PERSON OR BY PROXY AT A DULY CALLED AND CONSTITUTED ANNUAL OR SPECIAL MEETING OF THE MEMBERS OF THE CLUB AT WHICH A QUORUM OF THE EQUITY MEMBERS IS PRESENT OR BY PROXY. IN THE EVENT THE BOARD DETERMINES THAT AN AMENDMENT TO THE MEMBERSHIP PLAN, THE BY-LAWS OR THE CERTIFICATE OF INCORPORATION WILL BE VOTED ON ONLY BY THOSE OWNING A CERTAIN CATEGORY OF MEMBERSHIP, SUCH AMENDMENT MUST BE APPROVED BY A MAJORITY OF THE VOTES CAST BY THE MEMBERS OWNING THAT CATEGORY OF MEMBERSHIP IN PERSON OR BY PROXY AT A DULY CALLED AND CONSTITUTED ANNUAL OR SPECIAL MEETING OF SUCH MEMBERS OF THE CLUB AT WHICH A QUORUM OF SUCH MEMBERS IS PRESENT EITHER IN PERSON OR BY PROXY. THE PROPOSED AMENDMENT MUST BE SET FORTH IN OR ATTACHED TO THE NOTICE OF THE MEETING. AMENDMENTS MAY ALSO BE APPROVED BY THE EQUITY MEMBERS BY WAY OF WRITTEN CONSENTS IN LIEU OF A MEETING IN THE MANNER SET FORTH IN THE BY-LAWS. NOTWITHSTANDING, THE FOREGOING, THE BOARD MAY AMEND THE MEMBERSHIP PLAN, THE BY-LAWS OR THE ARTICLES OF INCORPORATION TO: CORRECT SCRIVENER'S ERRORS OR OMISSIONS; CONFORM THE PROVISIONS THEREOF TO CHANGE IN LAW THAT SUPERSEDE THE MEMBERSHIP PLAN, THE BY-LAWS OR THE ARTICLES OF INCORPORATION; AMEND AND RESTATE THE MEMBERSHIP PLAN, THE BY-LAWS OR THE ARTICLES OF INCORPORATION IN ORDER TO CONSOLIDATE INTO ONE(1) INSTRUMENT PREVIOUS AMENDMENTS ADOPTED BY THE BOARD AND THE EQUITY MEMBERS; AND TO CONFORM THE PROVISIONS OF THIS MEMBERSHIP PLAN; THE BY-LAWS OR THE ARTICLES OF INCORPORATION TO THE REQUIREMENTS OF THE FLORIDA COUNCIL OF YACHT CLUBS. FORM 990, PAGE 6, PART VI, LINE 11B THE 990 IS PREPARED BY A LOCAL CPA FIRM WITH THE ASSISTANCE AND REVIEW BY THE CLUB CONTROLLER AND TREASURER. THE TREASURER REPORTS ON THE PROPOSED FILING TO THE BOARD OF DIRECTORS, WHO THEN APPROVES THE 990 FOR SIGNATURE AND FILING. FORM 990, PAGE 6, PART VI, LINE 12C THE EMPLOYEE HANDBOOK STATES THAT PELICAN ISLE YACHT CLUB EMPLOYEES WILL MAINTAIN THE HIGHEST ETHICAL STANDARDS IN THE CONDUCT OF CLUB AFFAIRS. THE INTENT OF THIS POLICY IS THAT EACH EMPLOYEE WILL CONDUCT THE CLUB'S BUSINESS WITH INTEGRITY AND COMPLY WITH ALL APPLICABLE LAWS IN A MANNER THAT EXCLUDES CONSIDERATIONS OF PERSONAL ADVANTAGE OR GAIN. THE FOLLOWING IS A SUMMARY OF CLUB POLICY WITH RESPECT TO (1) GIFTS, FAVORS, ENTERTAINMENT AND PAYMENTS GIVEN OR RECEIVED BY CLUB EMPLOYEES; (2) POTENTIAL CONFLICTS OF INTEREST, AND (3) CERTAIN OTHER MATTERS. GENERAL POLICY APPLICATION - GIFTS, FAVORS AND PAYMENTS INVOLVING A CLUB EMPLOYEE MAY BE RECEIVED BY OTHERS AND ARE ACCEPTABLE IF THEY MEET THE FOLLOWING CRITERIA: THEY ARE CONSISTENT WITH ACCEPTED BEST PRACTICES OF PELICAN ISLE YACHT CLUB, INC. EMPLOYEES SHALL NOT SEEK OR ACCEPT FOR THEMSELVES OR OTHERS ANY GIFTS, FAVORS, ENTERTAINMENT AND PAYMENT WITHOUT LEGITIMATE BUSINESS PURPOSE. THEY ARE OF SUFFICIENTLY LIMITED VALUE OF NO GREATER THAN 300 AND IN A FORM THAT WILL NOT BE CONSTRUED AS A BRIBE OR PAYOFF. THEY ARE NOT IN VIOLATION OF APPLICABLE LAW AND GENERALLY ACCEPTED ETHICAL STANDARDS. PUBLIC DISCLOSURE OF THE FACTS WILL NOT EMBARRASS THE CLUB. PAYMENTS, COMMISSIONS, OR OTHER COMPENSATION RELATED TO PELICAN ISLE YACHT CLUB, INC. BUSINESS TO OR FOR THE BENEFIT OF EMPLOYEES (OR THEIR FAMILY MEMBERS OR ASSOCIATES NOT REQUIRED BY WRITTEN CONTRACT) IS CONTRARY TO CLUB POLICY. FORM 990, PAGE 6, PART VI, LINE 15B COMPENSATION OF KEY EMPLOYEES IS REVIEWED BY THE COMPENSATION COMMITTEE, WHICH IS COMPOSED OF THE COMMODORE (PRESIDENT), VICE COMMODORE (VICE PRESIDENT), AND REAR COMMODORE (TREASURER) AND THE GENERAL MANAGER, OTHER THAN IN THE CASE OF THE GENERAL MANAGER. COMPARABLE DATA IS UTILIZED FOR ALL KEY EMPLOYEES. THE DELIBERATIONS ARE DOCUMENTED CONTEMPORANEOUSLY. FORM 990, PAGE 6, PART VI, LINE 19 PELICAN ISLE YACHT CLUB'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENT ARE MADE AVAILABLE TO MEMBERS ONLY UPON REQUEST. THE MEMBER WOULD CONTACT THE GENERAL MANAGER. FORM 990, PART IX, LINE 24E H2B EXPENSE 143,033 0 0 UTILITIES 126,707 0 0 REAL ESTATE TAXES 112,732 0 0 RESTAURANT SUPPLIES 71,663 0 0 GAS/PROPANE 48,311 0 0 ENTERTAINMENT FOR CLUB 42,528 0 0 WORKERS COMPENSATION 39,403 0 0 CLEANING SUPPLIES 37,737 0 0 SUPPLIES 26,893 0 0 UNIFORMS 23,012 0 0 TELEPHONE 22,221 0 0 DUES & SUBSCRIPTIONS 21,956 0 0 SHIP STORE EXPENSES 19,983 0 0 LINEN RENTAL 18,474 0 0 EQUIPMENT RENTAL 18,220 0 0 WEBSITE EXPENSE 16,212 0 0 TAXES 14,643 0 0 CABLE/ALARM 14,357 0 0 SUBMERGED LAND LEASE 10,259 0 0 BANK & CREDIT CARD FEES 7,631 0 0 PAYROLL PROCESSING FEE 7,063 0 0 INCOME TAX 5,251 0 0 LICENSE/PERMITS 3,762 0 0 FCYC 1,768 0 0 TOTAL 853,819 0 0 FORM 990, PART XI, LINE 9 CAPITAL CONTRIBUTIONS 2,234,072 HURRICANE INSURANCE PROCEEDS 3,222,421 INTEREST EXPENSE -64,666 MARINA INSURANCE RESERVE -467,500 TOTAL 4,924,327