2023-11-08T12:57:18-06:00 2022-12-31 420714325 RSM US LLP 1555 PALM BEACH LAKES BLVD SUITE 500 WEST PALM BEACH FL 33401 990 2022-01-01 592369514 OAKS CLUB CORPORATION OAKS 9419662161 301 MACEWEN DR OSPREY FL 34229 STEPHEN BLOWERS TREASURER 9419662161 2023-11-07 1 STEPHEN BLOWERS 999009999 0 CHRISTOPHER CECIL P01877773 5616971785 2023-11-07 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z BRUCE ZAHN 301 MACEWEN DR OSPREY FL 34229 19940158 0 X HTTPS://THEOAKSCLUB.COM/ X 1984 FL THE PRIMARY EXEMPT PURPOSE OF THE ORGANIZATION IS TO PROVIDE AND MAINTAIN A CLUB WHICH AFFORDS WORLD-CLASS GOLF, TENNIS, SOCIAL FACILITIES AND ACTIVITIES FOR THE BENEFIT AND USE OF ITS MEMBERS AND GUESTS. 7 7 213 100 54671 1239 0 0 11145273 12275345 -84396 30427 5018657 6049765 16079534 18355537 0 0 0 0 6011360 6874210 0 0 0 8906481 10373415 14917841 17247625 1161693 1107912 41379362 43704990 16005677 15780197 25373685 27924793 THE PRIMARY EXEMPT PURPOSE OF THE ORGANIZATION IS TO PROVIDE AND MAINTAIN A CLUB WHICH AFFORDS WORLD-CLASS GOLF, TENNIS, SOCIAL FACILITIES AND ACTIVITIES FOR THE BENEFIT AND USE OF ITS MEMBERS AND GUESTS. 0 0 PROVIDING AND MAINTAINING THE CLUB FACILITIES FOR THE BENEFIT AND USEOF ITS MEMBERS. 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 1 0 0 0 1 62 0 1 213 1 1 1 0 0 0 1 1 4136863 74533 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 FL X KIRSTY TAYLOR 9419662161 301 MACEWEN DRIVE OSPREY FL 34229 ANNE LOCKIE PRESIDENT (THROUGH 3/22) 6.50 X X 0 0 0 LOU RICHARDSON-RHYNE TREASURER (THROUGH 3/22)/PRESIDENT (AS OF 4/22) 6.50 X X 0 0 0 ALLISON COOKE KELLOGG VICE PRESIDENT 6.50 X X 0 0 0 KENNETH FISCHL SECRETARY 6.50 X X 0 0 0 STEPHEN BLOWERS TREASURER (AS OF 4/22) 6.50 X X 0 0 0 PAUL SCHACHTER BOARD MEMBER 6.50 X 0 0 0 DOUG CASEY BOARD MEMBER (THROUGH 3/22) 6.50 X 0 0 0 JAMES JOHNSON BOARD MEMBER (THROUGH 3/22) 6.50 X 0 0 0 WENDY LAHOOD BOARD MEMBER (AS OF 4/22) 6.50 X 0 0 0 ERIC SMITH BOARD MEMBER (AS OF 4/22) 6.50 X 0 0 0 KAREN KING DIRECTOR OF FINANCE 40.00 X 117633 0 7924 BRUCE ZAHN GM/COO 40.00 X 349887 0 35795 JAMES PAMPINELLA II EXECUTIVE CHEF 40.00 X 159482 0 23440 HOLLY FARRELL DIRECTOR OF CLUBHOUSE 40.00 X 233071 0 28980 STEVEN W KURTZ DIRECTOR OF GOLF 40.00 X 162931 0 30880 ANDREW SIROTA DIRECTOR OF RACQUETS 40.00 X 173310 0 12494 GREGORY JACK DIRECTOR OF GREENS AND GROUNDS 40.00 X 205763 0 29317 1402077 0 168830 7 0 1 0 TEE OFF TEMPS 567 17TH ST W PALMETTO FL 34221 TEMPORARY LABOR 1269956 MARCH & MCLENNAN AGENCY LLC 1166 AVENUE OF THE AMERICAS NEW YORK NY 10036 GENERAL INSURANCE 642469 UNITED HEALTH CARE PO BOX 1459 MINNEAPOLIS MN 55440 MEDICAL INSURANCE 471018 BARBARA FORD-COATES TAX COLLECTOR 101 S WASHINGTON BLVD SARASOTA FL 34236 PROPERTY TAX 226513 AETNA 4629 TRENTO PL BRADENTON FL 34211 MEDICAL INSURANCE 202498 5 MEMBERSHIP & DUES 713910 10446133 10446133 OTHER GOLF REVENUE 713910 1403513 1403513 FITNESS AND WELLNESS 713910 230523 230523 TENNIS FEES 713910 129418 129418 LOCKER FEES 713910 65758 65758 12275345 53722 53722 15700 38995 -23295 -23295 -23295 3017076 1545626 1471450 1433654 37796 CAPITAL CHARGES 713910 3360315 3360315 ASSOCIATE AND SOCIAL INITIATION F 713910 734548 734548 INTEREST RATE SWAP AGREEMENT 713910 366420 366420 117032 100157 16875 4578315 18355537 18324161 54671 -23295 X 5741707 1132503 211667 2481913 456037 GOLF COURSE MAINTENANCE 2783073 ADMINISTRATIVE AND GENE 951621 BUILDING AND COMMON ARE 838134 FOOD & BEVERAGE 755286 1895684 17247625 9199332 9436903 4326342 4934570 266588 337663 891111 1296396 53310196 26654017 26359080 26656179 336909 1043279 41379362 43704990 1518420 1958956 3847443 3426563 6710612 5614162 3929202 4780516 16005677 15780197 X 25373685 27924793 25373685 27924793 41379362 43704990 X 1107912 1443196 X X 0 1 X 1 0 9367112 9367112 18687397 14710008 3977389 7319636 746652 6572984 17936051 11197357 6738694 26656179 DUES AND FEES COLLECTED IN ADVANCE 4046776 OPERATING CASH OVERDRAFT 116846 FINANCE LEASE OBLIGATION 260752 OPERATING LEASE OBLIGATION 356142 4780516 X 19901163 0 19901163 -1545626 -1545626 18355537 18793251 1545626 1545626 17247625 0 17247625 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 CONSOLIDATED 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 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -1,545,626. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 1,545,626. X X X X 0 0 0 BRUCE ZAHN GM/COO 343322 0 6565 0 0 0 0 0 35795 0 385682 0 0 0 HOLLY FARRELL DIRECTOR OF CLUBHOUSE 196351 0 36720 0 0 0 4100 0 24880 0 262051 0 0 0 GREGORY JACK DIRECTOR OF GREENS AND GROUNDS 173363 0 32400 0 0 0 1997 0 27320 0 235080 0 0 0 STEVEN W KURTZ DIRECTOR OF GOLF 155931 0 7000 0 0 0 4100 0 26780 0 193811 0 0 0 ANDREW SIROTA DIRECTOR OF RACQUETS 154770 0 18540 0 0 0 3525 0 8969 0 185804 0 0 0 JAMES PAMPINELLA II EXECUTIVE CHEF 134023 0 25459 0 0 0 1333 0 22107 0 182922 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 PURCHASERS OF REAL ESTATE LOTS IN THE DEVELOPMENTS KNOWN AS OAKS I, OAKS II, AND OAKS III MUST PURCHASE EITHER A SOCIAL OR EQUITY MEMBERSHIP, THE COST OF WHICH IS PRESENTLY DETERMINED BY THE BOARD OF GOVERNORS. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION ADHERES TO ITS BY-LAWS, WHICH REQUIRE THE EQUITY MEMBERS TO VOTE ON THE SELECTION OF ITS BOARD MEMBERS. ONLY EQUITY MEMBERS ARE ENTITLED TO VOTE. THE ORGANIZATION FOLLOWS ITS BY-LAWS TO ENSURE A QUORUM OF EQUITY MEMBERS HAVE VOTED. FORM 990, PART VI, SECTION A, LINE 7B THE ORGANIZATION ADHERES TO ITS BY-LAWS WHICH REQUIRE APPROVAL OF THE EQUITY MEMBERS BEFORE COMMENCING WITH THE ADDITION OF ANY NEW STRUCTURE OR CLUB FACILITY, OR COMMENCING WITH THE IMPROVEMENT, REPLACEMENT OR REPAIR OF ANY EXISTING CLUB PROPERTY, WHERE THE COST OF THE ADDITION, IMPROVEMENT, REPLACEMENT OR REPAIR IS EXPECTED TO EXCEED $400,000. EXCEPT, MEMBER APPROVAL IS NOT REQUIRED FOR THE REPAIR OR REPLACEMENT OF ANY CLUB PROPERTY EXCEEDING $400,000 IF THE EXPENDITURE IS NECESSITATED BY AN UNEXPECTED EVENT OR DISCOVERY, IS NECESSARY FOR REASONS OF HEALTH, SAFETY OR TO PREVENT FURTHER DAMAGE TO THE CLUB'S EXISTING INFRASTRUCTURE AND THE EXPENDITURE IS APPROVED BY AN 80% VOTE OF THE GOVERNING BODY. IN ADDITION, APPROVAL OF THE EQUITY MEMBERS IS REQUIRED BEFORE (I) ACQUIRING OR CONTRACTING TO ACQUIRE ADDITIONAL LAND IF THE CLUB'S ASSETS, IN WHOLE OR IN PART, ARE TO BE PLEDGED AS COLLATERAL, (II) DISPOSING OF REAL PROPERTY OWNED BY THE CLUB OR (III) LEVYING AN ASSESSMENT FOR ADDITIONS TO, OR THE IMPROVEMENT, REPLACEMENT OR REPAIR OF ANY CLUB PROPERTY. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE MEMBERS OF THE GOVERNING BODY ARE PROVIDED A COPY OF THE RETURN PRIOR TO FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD OF GOVERNORS MEMBERS, THE GENERAL MANAGER, ALL DEPARTMENT DIRECTORS, AND ALL PURCHASERS ARE REQUIRED TO SIGN AN ANNUAL CONFLICT OF INTEREST STATEMENT. THE ACCOUNTING OFFICE NOTIFIES MANAGEMENT IF THERE APPEARS TO BE A CONFLICT. MANAGEMENT AND THE BOARD REVIEW BEFORE ENTERING INTO AGREEMENTS. FORM 990, PART VI, SECTION B, LINE 15 THE EVALUATION AND COMPENSATION COMMITTEE OF THE BOARD OF GOVERNORS SETS THE COMPENSATION FOR COO/GM USING A COMPENSATION MARKET SURVEY AND STUDY ALONG WITH THE RESPECTIVE WRITTEN EMPLOYMENT CONTRACTS. THE COMPENSATION DETERMINED BY THE COMMITTEE IS THEN APPROVED BY THE ENTIRE BOARD. THE GM/COO, IN CONSULTATION WITH THE EVALUATION AND COMPENSATION COMMITTEE, DETERMINES COMPENSATION FOR SENIOR MANAGEMENT INCLUDING THE DIRECTOR OF FINANCE, DIRECTOR OF GOLF, DIRECTOR OF TENNIS, DIRECTOR OF GREEN & GROUNDS, DIRECTOR OF CLUB OPERATIONS, DIRECTOR OF MEMBERSHIP, DIRECTOR OF HUMAN RESOURCES, DIRECTOR OF FITNESS AND EXECUTIVE CHEF. THE GM/COO DETERMINES COMPENSATION FOR ANY OTHER KEY EMPLOYEES BASED ON MARKET FACTORS AND COMPENSATION STUDIES. DUE TO THE NOT-FOR-PROFIT NATURE OF THE CLUB AND THE PURPOSE OF THE ORGANIZATION AND OPERATION, NON-EMPLOYEE OFFICERS SHALL SERVE WITHOUT COMPENSATION OR SALARY FROM THE CLUB, BUT WILL BE ENTITLED TO REIMBURSEMENT FOR ALL EXPENSES REASONABLY INCURRED IN PERFORMING ANY DUTIES PURSUANT TO THE BYLAWS. 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 GOVERNING DOCUMENTS ARE MADE AVAILABLE ON THE CLUB'S WEBSITE AND THE FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. THE CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 24E GOLF ACTIVITIES 505,214. EVENTS 296,612. FITNESS AND WELLNESS 244,748. PROPERTY TAXES 230,180. RACQUET SPORTS 206,800. OTHER NON-OPERATING EXPENSE 175,000. MEMBERSHIP 123,316. HOUSEKEEPING 70,095. HURRICANE EXPENSE 43,719. FORM 990, PART XI, LINE 9: EQUITY CERTIFICATES ISSUED AND UPGRADED 3,204,396. EQUITY CERTIFICATES REDEEMED -1,761,200. FORM 990, PART XII, LINE 2C NO CHANGE FROM PRIOR YEAR. OAKS CLUB REALTY SERVICES LLC 301 MACEWEN DRIVE OSPREY FL 34229 833648165 REAL ESTATE BROKERAGE FL 16875 27555 N/A 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 OAKS CLUB REALTY LLC A 16875