2021-01-11T09:56:59-06:00 2020-02-29 161092347 MENGEL METZGER BARR & CO LLP 100 CHESTNUT STREET SUITE 1200 ROCHESTER NY 14604 990 2019-03-01 160446600 GENESEE VALLEY CLUB GENE 5852711010 421 EAST AVENUE ROCHESTER NY 14607 KAREN WEBBER TREASURER 5852711010 2021-01-11 1 MICHELLE CAIN P00150750 5854231860 2021-01-12 2019 2022-09-23 18:48:47Z JOHN M COREY 421 EAST AVENUE ROCHESTER NY 14607 7150395 0 X WWW.GVALLEYCLUB.ORG X 1885 NY PURPOSE OF THE CLUB IS TO PROMOTE SOCIALIZATION AMONG ITS MEMBERS AND TO PROVIDE FOR THEM THE COMFORTS AND CONVENIENCES OF A CLUBHOUSE, INCLUDING A SPORTS CLUB, READING ROOM, LIBRARY, RESTAURANT AND BAR. 15 15 199 15 143103 0 0 0 3834296 3927793 0 0 -107607 -203076 3726689 3724717 0 0 0 0 1876069 1973429 0 0 0 1978410 1973465 3854479 3946894 -127790 -222177 5840784 5217549 4286543 3885485 1554241 1332064 X THE GENESEE VALLEY CLUB IS COMMITTED TO PROVIDING ITS MEMBERS, THEIR FAMILIES AND GUESTS AN INVITING AND REWARDING MEMBERSHIP EXPERIENCE THROUGH ITS FINE PROGRAMS AND ENVIRONMENT FOR SOCIAL AND BUSINESS DINING, PRIVATE FUNCTIONS, RACQUET SPORTS, FITNESS AND OTHER ATHLETIC ACTIVITIES. MEMBERSHIP IS BY INVITATION TO MEN AND WOMEN OF AFFABILITY, GOOD CHARACTER AND REPUTATION WHO ARE DEEMED ACCEPTABLE ON THEIR INDIVIDUAL MERITS. 0 0 THE CLUB HAS SERVED TO PROMOTE SOCIALIZATION AMONG ITS MEMBERS AND HAS PROVIDED THEM WITH A CLUBHOUSE, INCLUDING A SPORTS CLUB, READING ROOM, RESTAURANT AND BAR AND HAS APPROXIMATELY 682 MEMBERS. 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 19 0 199 1 1 1 0 0 0 0 412457 745629 0 0 0 X 15 15 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X JENNIFER TARANTO 5852711010 421 EAST AVENUE ROCHESTER NY 14607 KATHLEEN R WHELEHAN PRESIDENT 1.00 X X 0 0 0 DAVID L FIEDLER VICE PRESIDENT 1.00 X X 0 0 0 SCOTT D CHAPMAN SECRETARY 1.00 X X 0 0 0 M KAREN WEBBER TREASURER 1.00 X X 0 0 0 NANCY CATARISANO GOVERNOR (AS OF MAY 2019) 1.00 X 0 0 0 HOLLY CRAWFORD GOVERNOR 1.00 X 0 0 0 SERGIO ESTEBAN GOVERNOR (THRU MAY 2019) 1.00 X 0 0 0 RICHARD L GOLDSTEIN GOVERNOR 1.00 X 0 0 0 MEGAN HENRY GOVERNOR 1.00 X 0 0 0 AARON HILGER GOVERNOR 1.00 X 0 0 0 DONALD KITCHEN GOVERNOR 1.00 X 0 0 0 HAROLD KURLAND GOVERNOR 1.00 X 0 0 0 DANIEL M MEYERS GOVERNOR 1.00 X 0 0 0 MARK MOLLENKOPF GOVERNOR 1.00 X 0 0 0 ANGELO J PONTICELLO GOVERNOR 1.00 X 0 0 0 ALEXANDER WHITAKER GOVERNOR 1.00 X 0 0 0 JOHN M COREY GM/COO 40.00 X 205284 0 38570 JENNIFER TARANTO CFO 40.00 X 154223 0 22932 GENARO FELIX MAITRE D'HOTEL 40.00 X 127277 0 24534 MICHAEL MACRI EXECUTIVE CHEF 40.00 X 132998 0 24641 619782 0 110677 4 0 1 0 0 MEMBERSHIP DUES & ASSESSMENTS 713910 3652238 3652238 SESSION FEES 713910 77012 77012 CLUB RENTALS 713910 71410 25220 46190 LOCKER FEES 713910 47334 47334 AV RENTALS 713910 28498 28498 51301 51301 3927793 3103000 3425678 -322678 -419591 96913 GAIN ON INVOLUNTARY CONVERSION 999999 119602 119602 119602 3724717 3462012 143103 119602 432500 956339 50286 275688 258616 4376 21653 167 7256 199472 139571 307624 30961 119488 675523 170046 EQUIPMENT RENTAL & MAIN 113811 CLUB FUNCTIONS AND SUPP 112358 OTHER 57864 SECURITY EXPENSE 13295 3946894 307019 429150 639779 378393 114853 105702 110660 112785 17067937 13499633 4094276 3568304 574197 623215 5840784 5217549 566281 553522 312850 96937 2833215 2611811 574197 623215 4286543 3885485 X 1554241 1332064 1554241 1332064 5840784 5217549 -222177 0 X X 0 1 X 1 0 268629 268629 9076041 6668160 2407881 7679147 6831473 847674 44120 44120 3568304 EMPLOYEE BENEFIT FUND 357095 DEFERRED COMPENSATION FUND 266120 623215 DEFERRED COMPENSATION FUND 266120 EMPLOYEE BENEFIT FUND 357095 623215 X 7150395 3425678 3425678 3724717 0 3724717 7372572 3425678 3425678 3946894 0 3946894 PART X, LINE 2: THE CLUB IS TAX-EXEMPT UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE REGULATIONS AND, ACCORDINGLY, NO PROVISION FOR FEDERAL OR STATE INCOME TAXES HAS BEEN MADE. THE CLUB FILES FORM 990 TAX RETURNS IN THE U.S. FEDERAL JURISDICTION AND ALSO FILES IN NEW YORK STATE. WITH FEW EXCEPTIONS, AS OF FEBRUARY 29, 2020, THE CLUB IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS ENDED PRIOR TO FEBRUARY 28, 2017. THE TAX RETURNS FOR THE YEARS ENDED FEBRUARY 28, 2017 THROUGH FEBRUARY 29, 2020 ARE STILL SUBJECT TO POTENTIAL AUDIT BY THE IRS AND THE TAXING AUTHORITIES IN NEW YORK STATE. MANAGEMENT OF THE CLUB BELIEVES IT HAS NO MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, IT HAS NOT RECOGNIZED ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES ALLOCABLE TO RESTAURANT AND BEVERAGE REVENUE 3,425,678. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES ALLOCABLE TO RESTAURANT AND BEVERAGE REVENUE 3,425,678. X 1 1 X X X X 0 0 0 JOHN M COREY GM/COO 171284 0 34000 0 0 0 14382 0 24188 0 243854 0 0 0 JENNIFER TARANTO CFO 134771 0 19452 0 0 0 9673 0 13259 0 177155 0 0 0 GENARO FELIX MAITRE D'HOTEL 111959 0 15318 0 0 0 9241 0 15293 0 151811 0 0 0 MICHAEL MACRI EXECUTIVE CHEF 114851 0 18147 0 0 0 3391 0 21250 0 157639 0 0 0 PART I, LINE 1A THE FOLLOWING POSITIONS RECEIVE PROFESSIONAL DEVELOPMENT ALLOWANCES ANNUALLY - THE GENERAL MANAGER/COO $10,000. THE CFO $5,500 THE EXECUTIVE CHEF $4,500 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS MEMBER OWNED. FORM 990, PART VI, SECTION A, LINE 7A AT THE ANNUAL MEETING GOVERNORS ARE MEMBER ELECTED. FORM 990, PART VI, SECTION A, LINE 7B SOME DECISIONS MADE BY THE GOVERNING BOARD ARE SUBJECT TO MEMBER APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PROVIDED TO THE FINANCE COMMITTEE AND REVIEWED FOR ACCURACY. THE FINDINGS ARE REPORTED TO THE BOARD AND THE RETURN IS THEN FILED UPON APPROVAL. THE BOARD IS PROVIDED THE OPPORTUNITY TO REVIEW THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD MEMBERS ARE ASKED TO DISCLOSE TO THE BOARD OF GOVERNORS WHAT, IF ANY, CONFLICTS OF INTEREST HAVE ARISEN. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE IS COMPRISED OF THE EXECUTIVE COMMITTEE. THE COMMITTEE'S DUTIES ARE LIMITED TO MATTERS CONCERNING COMPENSATION OF THE GENERAL MANAGER/CHIEF OPERATING OFFICER. THE CLUB PRESIDENT PREPARES AN ANNUAL PERFORMANCE EVALUATION FOR THE GENERAL MANAGER/CHIEF OPERATING OFFICER. KEY FACTORS EVALUATED INCLUDE: BOARD SUPPORT/RELATIONS FINANCIAL MANAGEMENT MEMBER SERVICES LEADERSHIP COMMUNICATION HUMAN RESOURCE MANAGEMENT FACILITY MANAGEMENT THE GENERAL MANAGER/CHIEF OPERATING OFFICER IS ELIGIBLE TO RECEIVE A BONUS TO BE PAID ANNUALLY ON JUNE 1 IN ADDITION TO HIS OR HER BASE COMPENSATION. THE ACCOMPLISHMENT OF MUTUALLY ACCEPTABLE PRE-ESTABLISHED MANAGEMENT OBJECTIVES WILL SERVE AS THE BASIS FOR ANY BONUS. THESE OBJECTIVES WILL INCLUDE BOTH QUANTITATIVE AND QUALITATIVE ASSESSMENTS. UPON COMPLETION OF THE ANNUAL PERFORMANCE EVALUATION, THE CLUB'S PRESIDENT WILL PRESENT TO THE COMMITTEE FOR ITS REVIEW AND ENDORSEMENT, HIS OR HER RECOMMENDATION REGARDING SALARY, BONUS OR BENEFIT CHANGES. WHEN CONSIDERING ANY POTENTIAL SALARY INCREASE, THE COMMITTEE WILL TAKE INTO CONSIDERATION BOTH JOB PERFORMANCE AS DOCUMENTED IN THE ANNUAL PERFORMANCE EVALUATION AS WELL AS SALARY COMPARABILITY DATA FOR PRIVATE CLUB MANAGERS. ONCE THE COMMITTEE HAS REVIEWED THE PERFORMANCE EVALUATION AND REACHED AGREEMENT AS TO A BONUS PAYMENT AND ANY SALARY ADJUSTMENT, THE CLUB PRESIDENT AND TREASURER WILL MEET WITH THE GENERAL MANAGER/CHIEF OPERATING OFFICER TO PRESENT THE EVALUATION AND DISCUSS ANY BONUS PAYMENT AND SALARY OR BENEFIT ADJUSTMENTS. SO LONG AS THE COMMITTEE'S RECOMMENDATIONS FOR THE GENERAL MANAGER/CHIEF OPERATING OFFICER'S BONUS, SALARY AND BENEFITS DO NOT CAUSE THE AMOUNT FOR TOTAL EMPLOYEE COMPENSATION TO EXCEED THAT AMOUNT ESTABLISHED IN THE CURRENT FISCAL YEAR'S APPROVED BUDGET, THE RECOMMENDATIONS OF THE COMMITTEE SHALL BE DEEMED APPROVED BY THE BOARD OF GOVERNORS. FORM 990, PART VI, SECTION C, LINE 19 THE CLUB'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST DURING THE CLUB'S NORMAL BUSINESS HOURS. FORM 990, PART XII, LINE 2C THE PROCESS IS CONSISTENT WITH THE PRIOR YEAR.