2026-03-04T08:19:55-06:00 2025-05-31 592840381 PHILLIPS FELDMAN GROUP 801 LAUREL OAK DRIVE SUITE 303 NAPLES FL 341082764 990 2024-06-01 590542388 GULF STREAM BATH AND TENNIS CLUB INC GULF 5612722101 925 NORTH OCEAN BLVD DELRAY BEACH FL 33483 DOUGLAS L BROWN TREASURER 5612722101 2026-03-04 1 0 NATHAN A PHILLIPS CPA P00189856 2395661600 2024 2025-03-06 01:10:19Z ALEX G POWER 925 NORTH OCEAN BLVD DELRAY BEACH FL 33483 6934735 0 X WWW.GULFSTREAMBT.COM X 1990 FL TO PROVIDE PLEASURE AND RECREATION TO THE MEMBERS AND THEIR GUESTS THROUGH SOCIAL AND RECREATIONAL FACILITIES SUCH AS A CLUBHOUSE, A RESTAURANT AND BAR, TENNIS COURTS, A FITNESS FACILITY, A SWIMMING POOL, AN OCEANFRONT BEACH, AND RELATED FACILITIES. 15 15 85 15 101806 107741 0 0 3766357 4175870 46936 25065 1412674 -351461 5225967 3849474 0 0 0 0 3534101 1841870 0 0 0 2762964 3108617 6297065 4950487 -1071098 -1101013 10473434 10864029 761197 840727 9712237 10023302 X THE GULF STREAM BATH AND TENNIS CLUB IS A SOCIAL CLUB, THE TAX PURPOSE OF WHICH IS TO PROVIDE FOR THE OPERATION OF A PRIVATE RECREATIONAL AND SOCIAL CLUB WITH CERTAIN BEACH, TENNIS, FITNESS, RESTAURANT, SWIMMING, AND RELATED FACILITIES FOR THE USE OF MEMBERS OF TEH CLUB AND THEIR GUESTS. 0 0 THE CLUB PROVIDES FOOD AND BEVERAGE SERVICE ON APPROXIMATELY 220 DAYS THROUGHOUT THE YEAR. DURING FISCAL 2024-2025, GROSS REVENUES FROM FOOD AND BEVERAGE TOTALED $2,486,083 (OF WHICH $17,676 WAS NON-MEMBER RELATED) AND EXPENSES WERE $3,285,913. 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 1 0 0 0 0 0 0 0 0 0 0 1 17 0 1 85 1 1 1 0 0 0 1 1 0 17724 0 0 0 X 15 15 0 0 1 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X X CAREY SAVONA 5612722101 925 NORTH OCEAN BLVD DELRAY BEACH FL 33483 JOANNE F HAYES PRESIDENT 1.00 X X 0 0 0 ALEX G POWER VICE PRESIDENT 1.00 X X 0 0 0 DOUGLAS L BROWN TREASURER 1.00 X X 0 0 0 ANTHONY W GRAZIANO JR SECRETARY 1.00 X X 0 0 0 BETTINA SMITH GOVERNOR 1.00 X 0 0 0 THOMAS M STANLEY GOVERNOR 1.00 X 0 0 0 JOHN VANDERSLICE GOVERNOR 1.00 X 0 0 0 GEORGE DEB BELL JR GOVERNOR 1.00 X 0 0 0 S CURTISS ROACH GOVERNOR 1.00 X 0 0 0 W FREDERICK SOUDER GOVERNOR 1.00 X 0 0 0 EMILY STARKEY GOVERNOR 1.00 X 0 0 0 RANDOLPH C HARRELL GOVERNOR 1.00 X 0 0 0 NANCY L HELMUTH GOVERNOR 1.00 X 0 0 0 KEVIN J MARONI GOVERNOR 1.00 X 0 0 0 JORGETTE D SMITH GOVERNOR 1.00 X 0 0 0 MICHAEL J TERRITO GENERAL MANAGER/COO 40.00 X 307811 0 16246 DENZIL PIETERS DIRECTOR OF TENNIS 40.00 X 199684 0 22381 CAREY SAVONA EXECUTIVE CHEF 40.00 X 205267 0 17054 REBEKAH MCGREE CLUBHOUSE MANAGER 40.00 X 172977 0 4309 885739 0 59990 4 0 1 0 0 MEMBERSHIP DUES 713910 3901695 3901695 SPORTS AND RECREATION 713910 274175 274175 4175870 122163 122163 97098 -97098 -97098 -97098 2540308 2988163 -447855 -427498 -20357 OTHER INCOME 713910 67138 67138 INSURANCE PROCEEDS 713910 29256 29256 96394 3849474 3747668 101806 0 885739 510053 158514 166128 121436 5542 934803 590468 INCOME TAX EXPENSE 34463 ADMINISTRATIVE & GENERA 595961 FOOD & BEVERAGE OTHER 344751 BUILDING AND GROUNDS 262151 340478 4950487 1550486 3103639 511700 560585 134873 124494 596007 50516 12260003 5294750 6621055 6965253 1006264 53049 59542 10473434 10864029 617822 600298 143375 240429 761197 840727 X 9712237 10023302 9712237 10023302 10473434 10864029 X -1101013 -5216 1417294 X 0 1 X 1 0 156385 156385 10023951 3845491 6178460 2079667 1449259 630408 6965253 DUES COLLECTED IN ADVANCE 240429 240429 X 6934735 3085261 3085261 3849474 0 3849474 8040964 3090477 3090477 4950487 0 4950487 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 2,988,163. LOSS ON DISPOSAL 97,098. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 2,988,163. LOSS ON DISPOSAL 97,098. UNREALIZED LOSS ON INVESTMENTS 5,216. X X 0 0 0 MICHAEL J TERRITO GENERAL MANAGER/COO 227242 0 46500 0 34069 0 13499 0 2747 0 324057 0 0 0 CAREY SAVONA EXECUTIVE CHEF 147917 0 26750 0 30600 0 14082 0 2972 0 222321 0 0 0 DENZIL PIETERS DIRECTOR OF TENNIS 181184 0 10000 0 8500 0 20527 0 1854 0 222065 0 0 0 REBEKAH MCGREE CLUBHOUSE MANAGER 119937 0 25000 0 28040 0 1200 0 3109 0 177286 0 0 0 TOM LYNCH PRIOR CLUB PRESIDENT 585663 INSURANCE PREMIUM 0 CONOR LYNCH CLUB MEMBER 585663 INSURANCE PREMIUM 0 FORM 990, PART VI, SECTION A, LINE 4 BYLAW CHANGES WERE AS FOLLOWS: CLARIFICATION OF PROHIBITING USING THE CLUB FOR POLITICAL, COMMERICAL, BUSINESS, OR CHARITABLE PURPOSES; MEMBERSHIP CLARIFICATIONS: OUTLINES SOME LIMITATIONS ON THE RIGHTS OF INDIVIDUALS IN A SUBCLASSIFICATION OF MEMBERSHIP, REDUCES THE NUMBER OF GOVERNORS PREVIOUSLY REQUIRED FROM 12 TO 9. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE POWER TO VOTE IS VESTED IN THE REGULAR MEMBERS PAYING REGULAR DUES WHO VOTE TO ELECT MEMBERS OF THE GOVERNING BODY (I.E., THE BOARD OF GOVERNORS) AND TO APPROVE CERTAIN CAPITAL PROJECTS. IN THE EVENT OF THE DISSOLUTION AND LIQUIDATION OF THE ORGANIZATION'S ASSETS, SUCH ASSETS, AFTER PAYMENT OF ALL THE ORGANIZATION'S DEBTS AND LIABILITIES, SHALL BE DISTRIBUTED IN EQUAL SHARES TO THE REGULAR MEMBERS AND SENIOR MEMBERS PURSUANT TO APPLICABLE FLORIDA LAW. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE POWER TO VOTE IS VESTED IN THE REGULAR MEMBERS PAYING REGULAR DUES WHO VOTE TO ELECT MEMBERS OF THE GOVERNING BODY (I.E., THE BOARD OF GOVERNORS) AND TO APPROVE CERTAIN CAPITAL PROJECTS.) FORM 990, PART VI, SECTION A, LINE 7B SUBSECTIONS 9.4.A AND 9.4.B OF THE ORGANIZATION'S BYLAWS PROVIDE: 9.4.A. THE BOARD OF GOVERNORS MAY NOT ACQUIRE, SELL, EXCHANGE, LEASE OR LIQUIDATE REAL PROPERTY HELD IN THE NAME OF THE CLUB, NOR DISSOLVE THE CLUB WITHOUT THE APPROVAL OF THE MEMBERS REPRESENTING MORE THAN FIFTY PERCENT (50%) OF THE MEMBERSHIPS THEN ELIGIBLE TO VOTE, AT ANY ANNUAL MEETING OR SPECIAL MEETING OF REGULAR MEMBERS HELD FOR THAT PURPOSE; PROVIDED HOWEVER THE BOARD OF GOVERNORS MAY ACQUIRE ADDITIONAL REAL PROPERTY TO BE HELD IN THE NAME OF THE CLUB WITHOUT SUCH APPROVAL IF SUCH ACQUISITION MAY BE COMPLETED WITHOUT A ONE-TIME ASSESSMENT OF ANY MEMBER WHICH IN THE AGGREGATE IS IN EXCESS OF FIFTY PERCENT (50%) OF THE THEN-CURRENT DUES PAYABLE BY SUCH MEMBER IN THAT FISCAL YEAR. 9.4.B. THE BOARD OF GOVERNORS MAY NOT ENCUMBER THE REAL AND PERSONAL PROPERTY HELD IN THE NAME OF THE CLUB IF: (1) THE TOTAL AGGREGATE AMOUNT OF ALL SUCH ENCUMBRANCES AGAINST SUCH REAL AND PERSONAL PROPERTY EXCEEDS SIXTY-SIX AND TWO-THIRDS PERCENT (66-2/3%) OF THE VALUE OF SUCH PROPERTIES, WITH THE VALUE OF SUCH PROPERTIES BEING DETERMINED BY THE BOARD OF GOVERNORS IN THE FOLLOWING MANNER: I. BY UTILIZING THE ASSESSED VALUE OF SUCH PROPERTIES AS DETERMINED BY THE PALM BEACH COUNTY PROPERTY APPRAISER'S OFFICE FOR THE TAX YEAR IMMEDIATELY PRECEDING THE DATE OF SUCH DETERMINATION, OR II. BY OBTAINING AN APPRAISAL AS TO THE FAIR MARKET VALUE OF SUCH PROPERTIES BY AN APPRAISER SELECTED AND DETERMINED TO BE QUALIFIED BY THE BOARD OF GOVERNORS; AND (2) THE ENCUMBRANCE RESULTS IN AN ASSESSMENT OF ANY MEMBER IN EXCESS OF FIFTY PERCENT (50%) OF THE MEMBERSHIPS THEN ELIGIBLE TO VOTE, AT ANY ANNUAL MEETING OR SPECIAL MEETING OF REGULAR MEMBERS HELD FOR THAT PURPOSE. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE TREASURER AND OTHER RESPONSIBLE BOARD MEMBERS PRIOR TO FILING OF THE FORM. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION ANNUALLY DISTRIBUTES TO, AND RECEIVES RESPONSES FROM, ITS GOVERNORS, OFFICERS, AND KEY EMPLOYEES, A QUESTIONNAIRE RELATING TO THEIR COMPLIANCE WITH THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. THE RESPONSES TO ALL SUCH QUESTIONNAIRES ARE REVIEWED BY THE SECRETARY AND ANY REPORTED CONFLICT OF INTEREST IS REPORTED TO THE BOARD OF GOVERNORS FOR APPROPRIATE ACTION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE GENERAL MANAGER AND OTHER KEY EMPLOYEES IS DETERMINED BY THE EXECUTIVE COMMITTEE WHICH ACTS IN PLACE OF A COMPENSATION COMMITTEE. NONE OF THE MEMBERS OF THE EXECUTIVE COMMITTEE IS COMPENSATED BY THE ORGANIZATION. THE EXECUTIVE COMMITTEE ACTS UPON DATA WITH RESPECT TO COMPENSATION OF OTHER INDIVIDUALS IN COMPARABLE POSITIONS AND DOCUMENTS ITS DELIBERATIONS AND DECISIONS. FORM 990, PART VI, SECTION C, LINE 18 THE CLUB PROVIDES COPIES OF FORM 990 AND 1024 UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE AVAILABLE TO THE GENERAL PUBLIC ITS GOVERNING DOCUMENTS (I.E., ITS CHARTER, BYLAWS, RULES AND REGULATIONS), FINANCIAL STATEMENTS (OTHER THAN AS REQUIRED BY THE APPLICABLE LAW), OR CONFLICT OF INTEREST POLICY. THE ORGANIZATION DOES MAKE ALL OF THOSE DOCUMENTS AVAILABLE TO ITS MEMBERS UPON REQUEST. FORM 990, PART XI, LINE 9: INITIATION FEES DESIGNATED FOR CAPITAL IMPROVEMENTS 1,108,000. CAPITAL ASSESSMENTS 309,294.