2025-02-21T11:27:17-06:00 2024-09-30 341874260 CBIZ ADVISORS LLC 700 WEST 47TH STREET SUITE 1100 KANSAS CITY MO 64112 990 2023-10-01 590433240 ST PETERSBURG YACHT CLUB INC STPE 7278223873 11 CENTRAL AVENUE ST PETERSBURG FL 33701 KEVIN CROSS TREASURER 7278223873 2025-02-19 1 1 LISA BURKE P00220718 8169455500 2025-02-19 2023 2025-03-06 01:10:19Z JOSEPH DIVITO 11 CENTRAL AVENUE ST PETERSBURG FL 33701 17187889 0 X WWW.SPYC.ORG X 1916 FL ENCOURAGE AND SUPPORT YACHTING AND TO PROVIDE A SOCIAL ENVIRONMENT FOR OUR MEMBERS AND GUESTS. 18 18 288 150 702144 286672 220535 0 10447911 10322934 251216 218336 25323 -84200 10944985 10457070 0 0 0 0 2887855 2835427 0 0 0 6085547 5883798 8973402 8719225 1971583 1737845 23847188 25089102 7753686 7255389 16093502 17833713 X TO PROVIDE PREEMINENT YACHTING AND SOCIAL EXPERIENCES FOR MEMBERS, THEIR FAMILIES AND GUESTS, AND HONOR THE CLUB'S RICH YACHTING HERITAGE IN A WELCOMING ENVIRONMENT. (CONTINUED ON SCHEDULE O)THE CLUB ENCOURAGES YACHTING, ASSISTS MEMBERS IN BECOMING PROFICIENT IN THE SCIENCE OF NAVIGATION AND IN THE DESIGNING, BUILDING, AND SAILING OF YACHTS, FURNISHES AMUSEMENT AND ENTERTAINMENT, AND SUPPLIES FOOD AND BEVERAGES TO ITS MEMBERS AND GUESTS. 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 2,227 MEMBERS AS OF SEPTEMBER 30, 2024. THE CLUB HOSTED 25 REGATTAS DURING THE YEAR ENDED SEPTEMBER 30, 2024, 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 0 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 1 1 0 0 1 193 0 1 288 1 1 1 0 0 0 0 2379177 1625205 0 0 0 X 18 18 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 0 1 1 1 0 FL X COLLEEN FINNEY CFO-DIRECTOR OF FINANCE 7278231061 11 CENTRAL AVE ST PETERSBURG FL 33701 SCOTT BOYLE COMMODORE 3.00 1.00 X X 0 0 0 JOSEPH DIVITO VICE COMMODORE 3.00 1.00 X X 0 0 0 CHRISTIAN BERGSTROM REAR COMMODORE 3.00 1.00 X X 0 0 0 KEVIN CROSS TREASURER 3.00 1.00 X X 0 0 0 VERONICA HICKEY SECRETARY 1.00 0.00 X X 0 0 0 JODY ABRAMS DIRECTOR 1.00 0.00 X 0 0 0 WAYNE ANDREWS DIRECTOR 1.00 0.00 X 0 0 0 FRED BICKLEY JR DIRECTOR 1.00 0.00 X 0 0 0 KATE CLARDY DIRECTOR 1.00 0.00 X 0 0 0 JAMES DEININGER DIRECTOR 1.00 0.00 X 0 0 0 CHRISTOPHER FRASER DIRECTOR 1.00 0.00 X 0 0 0 FRANK FRAZE DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL FUNSCH DIRECTOR 1.00 0.00 X 0 0 0 MARY HACKER DIRECTOR 1.00 0.00 X 0 0 0 FRED HIGHAM DIRECTOR 1.00 0.00 X 0 0 0 ROB MATTHES DIRECTOR 1.00 0.00 X 0 0 0 JEANNIE O'GRADY DIRECTOR 1.00 0.00 X 0 0 0 GEORGE PENNINGTON DIRECTOR 1.00 0.00 X 0 0 0 RHETT ROBICHEAUX GENERAL MANAGER (THRU 4/7/24) 55.00 0.00 X 278202 0 34360 COLLEEN RILEY-FINNEY CFO-DIRECTOR OF FINANCE 55.00 2.00 X 175946 0 12196 CHRISTIAN MAYRHOFER EXECUTIVE CHEF 55.00 0.00 X 120858 0 3814 COREY HALL WATERFRONT DIRECTOR 55.00 0.00 X 110896 0 2493 685902 0 52863 4 0 1 0 0 MEMBERSHIP DUES 713990 6799565 6799565 CAPITAL CONTRIBUTIONS 713990 1479677 1479677 INITIATION FEES 713990 899500 899500 SAILING CENTER 713990 460047 460047 BOAT SLIPS 713990 355352 355352 328793 60222 268571 10322934 289029 289029 28115 0 28115 28115 20400 7715 70693 -70693 -70693 -69336 -1357 6510082 6660126 -150044 -258437 108393 PARKING FEES 713990 29827 34 29793 7902 7902 37729 10457070 9754926 702144 0 388870 1911947 4367 326308 203935 14496 9961 20400 324510 79807 1170211 1522169 7549 5258 937767 709110 ENTERTAINMENT AND DECOR 609615 REGATTAS 391737 INCOME TAXES 15194 BAD DEBT 2400 63614 8719225 3960102 4841566 9299064 4450994 497486 823243 272330 246964 653073 554434 32713887 18541986 9165133 14171901 23847188 25089102 1919070 1814670 5834616 5440719 7753686 7255389 X 16093502 17833713 16093502 17833713 23847188 25089102 1737845 2366 0 X X 0 1 X 1 0 1267370 1267370 17703796 15345172 2358624 1131134 1059702 71432 12611587 2137112 10474475 14171901 X 17026277 2366 6577713 6580079 10446198 10872 10872 10457070 15286066 6577713 6577713 8708353 10872 10872 8719225 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 INCOME TAX EXPENSE IN THE AMOUNT OF $15,194 AND $12,897 FOR THE YEARS ENDED SEPTEMBER 30, 2024 AND 2023, 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 2020 TAX YEAR ENDED SEPTEMBER 30, 2021 AND ALL SUBSEQUENT YEARS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COGS EXPENSES NETTED AGAINST REVENUES 6,577,713. PART XI, LINE 4B - OTHER ADJUSTMENTS: BANQUET RENTALS NET WITH EXPENSE IN FINANCIAL STATEMENTS 10,872. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS EXPENSES NETTED AGAINST REVENUES 6,577,713. PART XII, LINE 4B - OTHER ADJUSTMENTS: BANQUET RENTALS NET WITH EXPENSE IN FINANCIAL STATEMENTS 10,872. X X X 0 0 0 RHETT ROBICHEAUX GENERAL MANAGER (THRU 4/7/24) 247848 0 30354 0 0 0 2427 0 31933 0 312562 0 0 0 COLLEEN RILEY-FINNEY CFO-DIRECTOR OF FINANCE 157851 0 18095 0 0 0 1662 0 10534 0 188142 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE ACTIVELY MANAGES THE CLUB AND ALL CLUB PROPERTY SUBJECT TO THE CONTROL OF THE BOARD OF DIRECTORS. 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 CFO-DIRECTOR OF FINANCE, 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 15 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 CFO-DIRECTOR OF FINANCE. 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. ST PETERSBURG SAILING FOUNDATION INC 11 CENTRAL AVE ST PETERSBURG FL 33701 934866180 SAILING EDUCATION AND INSTRUCTION FL 501(C)(3) PF ST PETERSBURG YACHT CLUB INC 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0