2025-04-14T13:49:15-05:00 2024-05-31 420714325 RSM US LLP 1555 PALM BEACH LAKES BLVD SUITE 500 WEST PALM BEACH FL 33401 990 2023-06-01 592640521 ISLAND COUNTRY CLUB INC ISLA 2393946661 500 NASSAU COURT MARCO ISLAND FL 34145 KENNETH BAER TREASURER 2392591537 2025-04-10 1 0 CHRISTOPHER CECIL P01877773 5616971785 2023 2025-03-06 01:10:19Z GERARD SHANNON 15293337 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 9 194 25 780784 191026 0 0 10650134 11092615 41431 464505 1571576 1760437 12263141 13317557 0 0 0 0 6447943 7882461 0 0 0 7943890 8886918 14391833 16769379 -2128692 -3451822 44999615 45290542 17183670 17484170 27815945 27806372 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 THE CLUB HAS ONE 18 HOLE GOLF COURSE. TOTAL ROUNDS OF GOLF PLAYED FOR THE YEAR ENDED 05/31/2024 WAS APPROXIMATELY 30,315 OF WHICH APPROXIMATELY 3,086 ROUNDS WERE NON-MEMBER RELATED. TOTAL FOOD & BEVERAGE REVENUE FOR THE YEAR ENDED 05/31/2024 WAS $2,760,039 OF WHICH $280,561 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 1 126 0 1 194 1 1 1 0 0 0 1 1 679500 708502 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 GERARD SHANNON PRESIDENT 10.00 X X 0 0 0 HARRY RUBASH VICE PRESIDENT 5.00 X X 0 0 0 DONNA GLANZMAN SECRETARY 5.00 X X 0 0 0 RICHARD CORLEY TREASURER (THROUGH 3/24), DIRECTOR (AS OF 3/24) 5.00 X X 0 0 0 KENNETH BAER TREASURER (AS OF 3/24) 2.00 X X 0 0 0 WILLIAM ALBANESE DIRECTOR (THROUGH 3/24) 1.00 X 0 0 0 GARY ALLMAIER DIRECTOR 1.00 X 0 0 0 PETER BOYNTON DIRECTOR (THROUGH 3/24) 1.00 X 0 0 0 JIM BURSCH DIRECTOR (THROUGH 3/24) 1.00 X 0 0 0 STEVE RAKOCZY DIRECTOR 1.00 X 0 0 0 DAVID GOLDSTEIN DIRECTOR 1.00 X 0 0 0 WALTER NUGENT DIRECTOR 1.00 X 0 0 0 ABDELMEJID BAKKAR COO (THROUGH 7/23) 40.00 X 258366 0 30245 ANNETTE SCUTERI CONTROLLER (THROUGH 11/23) 40.00 X 142872 0 27855 NICHOLAS VON HOFEN COO/GM (AS OF 11/23) 40.00 X 39230 0 6969 ANN MARIE MEGENIS CFO (AS OF 11/23) 40.00 X 15000 0 1194 JOSEPH HERBSTREITH DIRECTOR OF GOLF 40.00 X 162515 0 43961 MICHAEL SLACK GOLF COURSE SUPERINTENDENT 40.00 X 189279 0 47521 ELIZABTH CERTO GOLF PROFESSIONAL 40.00 X 104028 0 13005 LOREN COGSWELL EXECUTIVE CHEF 40.00 X 112806 0 50626 CHRISTINA LANE WELLNESS DIRECTOR 40.00 X 133089 0 21174 1157185 0 242550 7 0 1 0 0 MEMBERSHIP DUES 713910 8917555 8917555 GREENS & CART RENTAL FEES 713910 1289386 890220 399166 JOINING FEES 713910 679500 679500 FITNESS 713910 122300 120691 1609 LOCKER RENTALS 713910 83504 83504 370 370 11092615 209808 209808 326440 71743 254697 254697 254697 3659265 1904037 1755228 1585027 170201 OTHER INCOME 713910 5209 5209 5209 13317557 12282076 780784 254697 521731 5551466 1809264 453841 630269 2379270 1678283 GOLF MAINTENANCE 1018558 GENERAL & ADMINISTRATIV 680510 HURRICANE EXPENSES 680043 FOOD & BEVERAGE 614471 751673 16769379 6966282 3278833 545553 613831 301196 324049 1462801 1258106 42791960 13674242 30815589 29117718 4908194 10698005 44999615 45290542 3225610 2335431 3803292 3857385 10154768 11291354 17183670 17484170 X 27815945 27806372 27815945 27806372 44999615 45290542 X -3451822 3442249 X X 0 1 X 1 0 4527103 4527103 22820835 8165711 14655124 5405463 1934173 3471290 10038559 3574358 6464201 29117718 DEPOSITS 56749 DESIGNATED FUNDS 8078688 RIGHT OF USE ASSETS - FINANCE 2562568 10698005 LONG TERM DEBT 8058560 FINANCE INSURANCE PAYABLE 634485 FINANCE LEASE LIABILITIES 2598309 11291354 X 15221594 1904037 1904037 13317557 0 13317557 18673416 1904037 1904037 16769379 0 16769379 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 STATEMENT 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 1,904,037. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 1,904,037. X 1 0 0 ABDELMEJID BAKKAR COO (THROUGH 7/23) 149275 0 0 0 109091 0 4449 0 25796 0 288611 0 0 0 MICHAEL SLACK GOLF COURSE SUPERINTENDENT 174629 0 14650 0 0 0 4756 0 42765 0 236800 0 0 0 JOSEPH HERBSTREITH DIRECTOR OF GOLF 138577 0 9150 0 14788 0 1196 0 42765 0 206476 0 0 0 ANNETTE SCUTERI CONTROLLER (THROUGH 11/23) 127872 0 15000 0 0 0 3830 0 24025 0 170727 0 0 0 LOREN COGSWELL EXECUTIVE CHEF 96856 0 15950 0 0 0 7688 0 42938 0 163432 0 0 0 CHRISTINA LANE WELLNESS DIRECTOR 54069 0 8850 0 70170 0 7985 0 13189 0 154263 0 0 0 PART I, LINE 4A ABDELMEJID BAKKAR $108,000 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 MEMBERSHIP CERTIFICATES 2,082,994. CAPITAL ASSESSMENT REFUNDS -103,000. REDEMPTION OF MEMBERSHIP CERTIFICATES -487,000. NONREFUNDABLE CAPITAL IMPROVEMENT ASSESSMENTS 1,335,460. NONREFUNDABLE CLUBHOUSE RENOVATION ASSESSMENTS 613,795. FORM 990, PART XII, LINE 2C: NO CHANGE FROM THE PRIOR YEAR.