2024-09-13T13:34:14-05:00 2023-10-31 420714325 RSM US LLP 1555 PALM BEACH LAKES BLVD SUITE 500 WEST PALM BEACH FL 33401 990 2022-11-01 591411717 BANYAN GOLF CLUB OF PALM BEACH INC BANY 5617932800 1393 LYONS ROAD WEST PALM BEACH FL 33411 ROBERT TROW PRESIDENT 5617932800 2024-08-29 1 0 CHRISTOPHER CECIL P01877773 5616791785 2024-08-29 2022 2024-08-08 14:25:15Z ROBERT TROW 1393 LYONS ROAD WEST PALM BEACH FL 33411 8638858 0 X WWW.BANYANGOLFCLUB.COM X 1972 FL TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION. 14 14 102 16 355661 143627 0 0 6764527 7299380 7223 515063 301139 396931 7072889 8211374 0 0 0 0 3682189 4293650 0 0 0 4185601 4602145 7867790 8895795 -794901 -684421 12593212 18920120 6817642 10616432 5775570 8303688 BANYAN GOLF CLUB OF PALM BEACH, INC. IS A SOCIAL CLUB WHOSE EXEMPT PURPOSE IS TO PROMOTE SOCIAL INTERACTION OF CLUB MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES. 0 0 RESTAURANT/BAR TOTAL REVENUES DURING THE YEAR WAS $813,897 OF WHICH $74,922 WAS NON-MEMBER RELATED. GOLF COURSE- ROUNDS PLAYED DURING THE YEAR WERE 24,000 OF WHICH 1,142 WERE NON-MEMBER RELATED. GOLF RELATED INCOME FROM NON-MEMBERS WAS $121,541 FOR THE YEAR ENDED 10/31/23. 0 0 0 0 0 0 0 0 0 1 0 0 0 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 18 0 102 1 1 1 0 0 0 1 1 0 196463 0 0 0 X 14 14 0 0 1 0 1 1 1 1 1 0 0 0 0 1 1 1 1 0 X MARLOW YURICK 5617932800 1393 LYONS ROAD WEST PALM BEACH FL 33411 ROB TROW PRESIDENT 10.00 X X 0 0 0 RICHARD SHEERR TREASURER 1.50 X X 0 0 0 STEVEN POKOTILOW SECRETARY 0.25 X X 0 0 0 ROBERT ANTHONY VICE-PRESIDENT 1.50 X X 0 0 0 JAMES MOGAN DIRECTOR 0.25 X 0 0 0 JEFFREY KOBERNICK DIRECTOR 0.25 X 0 0 0 ELLEN HARRIS DIRECTOR 0.25 X 0 0 0 BARRY SYLVETSKY DIRECTOR 0.25 X 0 0 0 MARC TAUB DIRECTOR 0.25 X 0 0 0 BILL SWARTZ DIRECTOR 0.25 X 0 0 0 KAREN GOLOV DIRECTOR 1.50 X 0 0 0 MARK LISNOW DIRECTOR 0.25 X 0 0 0 JOSEPH COOPER EX-OFFICIO 0.25 X 0 0 0 JANE ZIMMERMAN DIRECTOR 0.50 X 0 0 0 CINDY J LOWDERMILK GENERAL MANAGER 40.00 X 326797 0 8897 NATHAN WALLACE SUPERINTENDENT 40.00 X 250148 0 1764 DAVID F EBY DIRECTOR OF GOLF 40.00 X 240781 0 19355 DENISE CONNELL MEMBERSHIP DIRECTOR 40.00 X 192414 0 10529 OZMAR VASQUEZ HEAD CHEF 40.00 X 112806 0 2406 1122946 0 42951 5 0 1 0 0 MEMBER DUES & ASSMTS 713910 6059599 6059599 CART RENTALS 713910 736595 736595 GREENS FEES 713910 301196 179655 121541 BAG STORAGE FEES 713910 103000 103000 LOCKER RENTALS 713910 98990 98990 7299380 196826 196826 1000 0 1000 1000 1000 326100 7863 318237 318237 318237 813897 419621 394276 357982 36294 OTHER REVENUE 713910 1655 1655 1655 8211374 7537476 355661 318237 3723723 569927 62988 1022591 INCOME TAX 11326 GOLF COURSE MAINTENANCE 1649615 ADMINISTRATIVE 640020 FOOD AND BEVERAGE 467107 748498 8895795 3687400 6328119 2205125 2301860 324267 1828319 28742 38145 351983 281311 21552695 13526327 5995695 8026368 0 115998 12593212 18920120 840409 625868 3957175 4456643 1976786 5374098 43272 159823 6817642 10616432 X 5775570 8303688 5775570 8303688 12593212 18920120 X -684421 51860 3160679 X X 0 1 X 1 0 518634 518634 8028733 5204636 2824097 4924832 3192529 1732303 8080496 5129162 2951334 8026368 DUE TO RESIGNED MEMBERS 25272 CERTIFICATES OF INDEBTEDNESS 18000 FINANCE LEASE LIABILITY 39600 OPERATING LEASE LIABILITY 76951 159823 X 8671529 51860 51860 8619669 -408295 -408295 8211374 9304090 408295 408295 8895795 0 8895795 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 FASB ACCOUNTING STANDARDS CODIFICATION. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF SALES -419,621. INCOME TAX EXPENSE 11,326. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 419,621. INCOME TAX EXPENSE -11,326. X X X X 0 0 0 CINDY J LOWDERMILK GENERAL MANAGER 274997 0 47000 0 4800 0 0 0 8897 0 335694 0 0 0 DAVID F EBY DIRECTOR OF GOLF 215799 0 10400 0 14582 0 0 0 19355 0 260136 0 0 0 NATHAN WALLACE SUPERINTENDENT 221148 0 23000 0 6000 0 0 0 1764 0 251912 0 0 0 DENISE CONNELL MEMBERSHIP DIRECTOR 107994 0 9820 0 74600 0 0 0 10529 0 202943 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 REDUCTION OF BOARD MEMBERS FROM 15 TO 11. THE ADDITION OF A LONG-RANGE PLANNING COMMITTEE. 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: REGULAR MEMBERS FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING DECISIONS REQUIRE THE APPROVAL OF THE MEMBERS ELIGIBLE TO VOTE: SINGLE CAPITAL OR REPAIR EXPENDITURES IN EXCESS OF $500,000, AND THE PURCHASE, SALE, LEASE OR MORTGAGE OF ANY REAL PROPERTY OR INTEREST. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION DOES NOT BELIEVE IT IS EFFECTIVE NOR EFFICIENT FOR THE ENTIRE GOVERNING BOARD TO REVIEW FORM 990 BEFORE FILING. THUS, THE BOARD DELEGATES THE REVIEW OF FORM 990 AND THE RELATED SCHEDULES TO THE GENERAL MANAGER AND A BOARD MEMBER. THE FORM 990 IS REVIEWED WITH ITS OUTSIDE CPA PREPARERS PRIOR TO THE FILING OF THE FORM. FORM 990, PART VI, SECTION B, LINE 15 KEY EMPLOYEE SALARIES ARE REVIEWED BY THE PRESIDENT & TREASURER DURING BUDGET PREPARATION. GOLF PRO AND GOLF COURSE SUPERINTENDENT HAVE CONTRACTS THAT SPECIFY ANNUAL REVIEW OF COMPENSATION. COMPARABLE DATA IS ALSO USED IN DETERMINING COMPENSATION. 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 GOVERNING DOCUMENTS AND THE FINANCIAL STATEMENTS ARE AVAILABLE THROUGH THE CLUB WEBSITE AND UPON REQUEST. THE CONFLIC OF INTEREST POLICY IS AVAILABLE THROUGH INSPECTION AT THE CLUB. FORM 990, PART XI, LINE 9: INITIATION FEES 1,671,000. CAPTIAL ASSESSMENTS 1,489,679. FORM 990, PART XII, LINE 2C NO CHANGE FROM PRIOR YEAR.