2021-02-22T17:05:04-06:00 2020-07-31 420714325 RSM US LLP 1555 PALM BEACH LAKES BLVD SUITE 700 WEST PALM BEACH FL 33401 990 2019-08-01 650473088 BAY COLONY GOLF CLUB INC BAYC 2395929515 9740 BENT GRASS BEND NAPLES FL 341081933 JAMES PEERS TREASURER 2395929515 2021-02-22 1 FRANK LUCAS P00995244 5616791785 2021-02-22 2019 2022-09-23 18:48:47Z ROBERT AMEN 9740 BENT GRASS BEND NAPLES FL 34108 9392592 0 X WWW.BAYCOLONYGOLFCLUB.COM X 1996 FL TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION. 9 9 145 9 203336 0 0 0 6225890 6331428 -2047009 67705 2028316 1820886 6207197 8220019 0 0 0 0 4319537 4332383 0 0 0 5894887 5263380 10214424 9595763 -4007227 -1375744 28765349 32554813 4824066 6318725 23941283 26236088 BAY COLONY GOLF 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 AN 18 HOLE GOLF COURSE. TOTAL ROUNDS OF GOLF PLAYED FOR THE YEAR ENDED 07/31/20 WAS APPROX. 21,087 OF WHICH APPROX 818 ROUNDS WERE NON-MEMBER RELATED. TOTAL FOOD AND BEVERAGE REVENUE FOR THE YEAR WAS $1,612,505 OF WHICH $82,876 WAS NON-MEMBER RELATED. 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 16 0 1 145 1 1 1 0 0 0 1 1 0 245805 0 0 0 X 9 9 0 0 1 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X SAMANTHA SHEFFIELD 2394494561 9740 BENT GRASS BEND NAPLES FL 34108 ROBERT AMEN PRESIDENT 10.00 X X 0 0 0 PHIL WARREN VICE PRESIDENT 10.00 X X 0 0 0 JAMES PEERS TREASURER (AS OF 6/1/20) 2.00 X X 0 0 0 CURT EDWARDS SECRETARY 2.00 X X 0 0 0 GREGG DEWITT DIRECTOR 2.00 X 0 0 0 KEVIN POWDERLY DIRECTOR 2.00 X 0 0 0 JOHN GRISWOLD DIRECTOR 2.00 X 0 0 0 CINDY TUCCI DIRECTOR 2.00 X 0 0 0 JOE ABRUZZESE DIRECTOR 2.00 X 0 0 0 BASIL ANDERSON TREASURER (THROUGH 5/31/20) 2.00 X X 0 0 0 JAN EVELEIGH DIRECTOR (THROUGH 5/31/20) 2.00 X 0 0 0 MICHAEL BRADFIELD GENERAL MANAGER - CURRENT 40.00 X 208066 0 12928 JEROME THIRION GENERAL MANAGER - PAST 40.00 X 169408 0 5781 SAMANTHA SHEFFIELD CFO 40.00 X 34631 0 98 JOSHUA LEVITRE SUPERINTENDENT 40.00 X 172240 0 21915 TAMMY MERCER MEMBERSHIP DIRECTOR 40.00 X 113686 0 7789 ANDREW ZULLO GOLF PRO 40.00 X 196703 0 26563 894734 0 75074 5 0 1 0 FLORIDA POWER & LIGHT COMPANY 700 UNIVERSE BLVD JUNO BEACH FL 33408 UTILITIES SERVICES 143009 ZURICH NORTH AMERICA 1299 ZURICH WAY SCHAUMBURG IL 60196 INSURANCE 132725 FLORIDA BLUE 8041 PLAZA DEL LAGO DR ESTERO FL 33928 HEALTH INSURANCE 117348 3 DUES REVENUE 713910 5549625 5549625 GREENS,CART & TRAIL FEES 713910 781803 618875 162928 6331428 1304 1304 6448 6448 0 66401 0 66401 66401 66401 2040765 1166125 874640 835536 39104 OPERATING ASSESSMENT 713910 601894 601894 OTHER INCOME 713910 223547 223547 FOOD & BEVERAGE MINIMUM 713910 120805 120805 946246 8220019 7950282 203336 66401 3929023 403360 58929 1917702 174306 GOLF COURSE MAINTENANCE 1251481 GENERAL & ADMINISTRATIV 579641 FOOD & BEVERAGE 490731 COMMUNITY FEES 394723 395867 9595763 2706904 3152626 204099 326723 191414 241243 232636 626711 44655808 16450648 25427946 28205160 2350 2350 28765349 32554813 1340723 754651 2082955 1611264 757136 3793210 643252 159600 4824066 6318725 X 23941283 26143404 92684 23941283 26236088 28765349 32554813 X -1375744 607500 3063049 X X 0 1 X 1 0 7405396 7405396 17039281 7538151 9501130 8677349 3838846 4838503 11533782 5073651 6460131 28205160 MEMBERSHIP DEPOSITS 138000 DEFERRED COMPENSATION 21600 159600 X 9392592 1172573 1172573 8220019 0 8220019 10768336 1172573 1172573 9595763 0 9595763 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 ACCOUNTING GUIDANCE FOR UNCERTAINTY IN TAXES WITHIN THE INCOME TAXES TOPIC OF THE FASB ACCOUNTING STANDARDS CODIFICATION. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 1,166,125. RENTAL EXPENSES 6,448. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 1,166,125. RENTAL EXPENSES 6,448. X X X X 0 0 0 MICHAEL BRADFIELD GENERAL MANAGER - CURRENT 204057 0 0 0 4009 0 1949 0 10979 0 220994 0 0 0 JEROME THIRION GENERAL MANAGER - PAST 111598 0 47940 0 9870 0 4626 0 1155 0 175189 0 0 0 JOSHUA LEVITRE SUPERINTENDENT 152687 0 15000 0 4553 0 10000 0 11915 0 194155 0 0 0 ANDREW ZULLO GOLF PRO 170104 0 15000 0 11599 0 16055 0 10508 0 223266 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 GENERAL CHANGES THE MAJORITY OF THE PROPOSED AMENDMENTS ARE DEEMED CLARIFICATIONS, NON-MATERIAL CHANGES OR CLEAN-UP CHANGES. THESE CHANGES INCLUDE CORRECTING GRAMMATCAL ISSUES, PROVIDING CLARITY TO EXISTING PROVISIONS, ASSURING CONSISTENCY IN THE USE OF DEFINED TERMS AND CORRECTING ERROS. SECTION 10.2 (MEMBERSHIP ELIGIBILITY) IS BEING AMENDED TO DELETE THE SPECIFIED AGE LIMIT OF PERSONS TO WHOM INTERMEDIATE MEMBERSHIPS ARE BEING OFFERED AND GIVE THE BOARD THE RIGHT TO SET AND/OR MODIFY THE AGE LIMIT. THIS MEMBERSHIP IS NOT CURRENTYL BEING OFFERD AT THE CLUB. IN SECTION 10.10 (ENTITY OWNERSHIP), THE REQUIREMENT THAT RESTRICTS OWNERSHIP TO ENTITIES ALSO OWNING A HOME IN BAY COLONY HAS BEEN DELETED. IN SECTION 14.3, THE PROVISION APPLIED TO EQUITY GOLF MEMBERS REGARDING INVOLUNTARY RESIGNATION NOW APPLIES TO ALL MEMBERSHIP CLASSES. VOTING DEFINITIONS AND VOTING MATTERS SECTION 10.5, THE TERM "VOTING MEMBERS" NOW INCLUDES EQUITY GOLF MEMBERS (WHO HAVE 5 VOTES) AND SENIOR MEMBERS (WHO HAVE 2 VOTES). THE NUMBER OF VOTES DID NOT CHANGE. SECTION 16.2 (ASSESSMENTS) IS BEING AMENDED TO INTRODUCE "SPECIAL ASSESSMENTS" WHICH INCLUDES TWO TYPES: OPERATING AND CAPITAL. AS TO AN OPERATING SPECIAL ASSESSMENT, THE SPECIAL ASSESSMENT WILL BE PRORATED AMONG VOTING MEMBERS BASED UPON THE AMOUNT OF DUES CHARGED TO EACH MEMBER DURING THE YEAR IN WHICH THE DEFICIT OCCURS. THE CAPITAL SPECIAL ASSESSMENT IS SUBJECT TO A VOTE OF THE VOTING MEMBERS. CAPITAL SEPCIAL ASSESSMENTS WILL BE PRORATED AMONG THE VOTING MEMBERS, WHICH PRORATION IS DONE BY THE BOARD OF GOVERNORS. SECTION 17 (AMENDMENTS) IS BEING AMENDED TO PROVIDE THAT AMENDMENTS TO THE ARTICLES OF INCORPORATION OR THE BYLAWS WILL BE MADE BY THE MAJORITY VOTE OF THE BOARD OF GOVERNORS AND THE 2/3 VOTE OF THE VOTES CAST BY VOTING MEMBERS. BOARD COMPENSATION AND OFFICER/EXECUTIVE COMMITTEE QUALIFICATION THE AMENDMENT TO SECTION 4.1 (BOARD OF GOVERNORS) PROVIDES THAT A SENIOR MEMBER OR HIS/HER SPOUSE MAY BE ELECTED TO THE BOARD OF GOVERNORS AND INCLUDES A RESTRICTION THAT ONLY ONE SENIOR MEMBER/SPOUSE MAY SERVE ON THE BAORD AT ANY ONE TIME. THE SPOUSE OF AN EQUITY GOLF MEMBER TO SERVE ON THE BOARD OF GOVERNORS IS NOW PERMITTED. THE AMENDMENT TO SECTION 9.1 (COMMITTEES) CLARIFIES THAT EACH MEMBER OF THE EXECUTIVE COMMITTEE SHALL BE AN EQUITY GOLF MEMBER OR THE SPOUSE OF AN EQUITY GOLF MEMBER. NOMINATING COMMITTEE THE AMENDEMENT TO SECTION 4.2 (NOMINATING COMMITTEE) PROVIDES THAT PRIOR TO THE ANNUAL MEETING, THE PRESIDENT SHALL APOINT A NOMINATING COMMITTEE THAT WILL NOMINATE POTENTIAL BOARD CANDIDATES. THE BOARD OF GOVERNORS. OR A SUBSET OF THE BOARD, MAY ACT AS THE NOMINATING COMMITTEE. THE PAST-PRESIDENTS OF THE CLUB, AS A GROUP, WILL BE A RESOURCE TO THE NOMINATING COMMITTEE. NO LESS THAN 10% OF THE TOTAL VOTING INTEREST MAY NOMINATE CANDIDATES FOR ELECTION BY PETITION. SOCIAL AWAITING GOLF MEMBERSHIPS THE EXISTING "SOCIAL EQUITY MEMBERSHIP" IS BEING RENAMED TO A NEW NON-EQUITY CLASS OF MEMBERSHIP CALLED "SOCIAL AWAITING GOLF." WHEN THERE IS NOT AN EQUITY GOLF MEMBERSHIP AVAILABLE, A PERSON MAY JOIN UNDER THIS NEW CATEGORY. THIS CLASS IS INTENDED TO BE A "SHORT TERM" WAIT LIST FOR A FEW MONTHS, NOT YEARS. RESIGNATION LIST PROCESS AND BROKERED TRANSFER PROGRAM MEMBERSHIP CONTRIBUTION IS BEING MODIFIED TO CLARIFY HOW THE PREVAILING MEMBERSHIP CONTRIBUTION AMOUNTS ARE SET AND HELP CLARIFY THE DISTINCTION BETWEEN THE ORIGINAL RESIGNATION LIST AND THE BROKERED LIST. RESIGNATION-TRANSFERABILITY OF MEMBERSHIPS IS BEING MODIFIED TO CLARIFY HOW THE ORIGINAL RESIGNATION PROCESS OPERATES, HOW THE BROKERED TRANSFER PROGRAM OPERATES, AND TO DELINEATE THESE TWO DISTINCT PROCESSES. 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, INTERMEDIATE MEMBERS, AND SOCIAL EQUITY MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B CAPITAL EXPENDITURE IN EXCESS OF $2,000,000 AND RENOVATIONS ARE SUBJECT TO MEMBER APPROVAL. 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 GOVERNING BOARD DELEGATES THE REVIEW OF FORM 990 AND THE RELATED SCHEDULES TO THE CLUB'S TREASURER. THE TREASURER REVIEWS FORM 990 WITH ITS OUTSIDE CPA PREPARERS PRIOR TO THE FILING OF THE FORM. FORM 990, PART VI, SECTION B, LINE 12C CLUB MONITORS COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY EVALUATING ANNUAL DISCLOSURES. IN ADDITION, ANYTHING THAT IS QUESTIONABLE IS PUT BEFORE THE GENERAL MANAGER AND COMMITTEES. FORM 990, PART VI, SECTION B, LINE 15 THE YEAR END BONUSES, RAISES, AND ANNUAL REVIEWS OF THE MANAGEMENT POSITIONS ARE CONDUCTED BY THE COMPENSATION COMMITTEE AND BOARD. INDUSTRY SURVEYS ARE ALSO USED FOR COMPARISON. THE EXECUTIVE COMMITTEE OF THE BOARD REVIEWS THE COMPENSATION PACKAGES FOR THE GENERAL MANAGER. THE GENERAL MANAGER DETERMINES COMPENSATION PACKAGES FOR DEPARTMENT HEADS AND REVIEWS ANNUALLY. 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 PROVIDES COPIES OF THE CONFLICT OF INTEREST POLICY UPON REQUEST. THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE ON THE CLUB WEBSITE AND UPON REQUEST. FORM 990, PART XI, LINE 9: ISSUANCE OF MEMBERSHIP CERTIFICATES 1,584,000. REDEMPTION OF MEMBERSHIP CERTIFICATES -154,000. DEBT ASSESSMENTS 748,034. SOCIAL INITIATION FEES 125,000. CAPITAL FUNDING OF DEPRECIATION ASSESSMENTS 667,331. MEMBER DONATIONS 190,700. NET ASSETS WITH DONOR RESTRICTIONS RELEASED FROM RESTRCTIONS -98,016. FORM 990: PART XII, LINE 2C: THERE HAS BEEN NO CHANGE FROM THE PRIOR YEAR.