2022-09-15T07:37:56-05:00 2021-10-31 592840381 PHILLIPS HARVEY GROUP 801 LAUREL OAK DRIVE SUITE 303 NAPLES FL 341082764 990 2020-11-01 831197109 TWINEAGLES CLUB TWIN 2393541735 11725 TWINEAGLES BOULEVARD NAPLES FL 34120 ROBERT GILCHRIST TREASURER 2393541735 2022-09-15 1 ROBERT GILCHRIST 999009999 NATHAN A PHILLIPS CPA P00189856 2395661600 2 AAL1 IAL1 2020 2023-04-26 12:10:37Z ROBERT GILCHRIST 11725 TWINEAGLES BOULEVARD NAPLES FL 34120 15981450 0 X WWW.TWINEAGLES.COM X 2018 FL THE TWINEAGLES CLUB IS A RECREATIONAL CLUB WHOSE EXEMPT PURPOSE IS TO PROMOTE SOCIAL INTERACTIONS OF CLUB MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES. 9 9 209 100 159425 0 0 0 10416046 10478389 -5732 21895 2074589 4547075 12484903 15047359 0 0 0 0 6096795 6280750 0 0 0 6027513 5922958 12124308 12203708 360595 2843651 43161639 52606871 10925769 17527350 32235870 35079521 THE TWIN EAGLES CLUB IS A RECREATIONAL CLUB WHOSE EXEMPT PURPOSE IS TO PROMOTE SOCIAL INTERACTIONS OF CLUB MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES. 0 0 THE CLUB OPERATES TWO 18-HOLE GOLF COURSES (TOTAL OF 36 HOLES). FOR THE YEAR ENDED 10/31/21, 57,269 ROUNDS OF GOLF WERE PLAYED ON THE COURSES, INCLUDING NON-MEMBER "RECIPROCAL" ROUNDS OF 4,021. THE CLUB MAINTAINS A FOOD AND BEVERAGE OPERATION TO PROMOTE ITS MISSION AND ENCOURAGE SOCIAL INTERACTION AMONG 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 46 0 1 209 1 1 1 0 0 0 1 1 2941429 158275 0 0 0 X 9 9 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X MICHAEL CHAFFEE CFO 2393541735 11725 TWIN EAGLES BLVD NAPLES FL 34120 X MICHAEL LEVIN PRESIDENT 20.00 X X 0 0 0 YVETTE POWELL VICE PRESIDENT 20.00 X X 0 0 0 JOHN IANNUZZI TREASURER 20.00 X X 0 0 0 MICHAEL WOOD SECRETARY 20.00 X X 0 0 0 ROBERT GILCHRIST DIRECTOR 20.00 X 0 0 0 LESLIE POWELL DIRECTOR 20.00 X 0 0 0 RONALD FILLER DIRECTOR 20.00 X 0 0 0 PHILIP FRAZIER DIRECTOR 20.00 X 0 0 0 TERRACE WING DIRECTOR 20.00 X 0 0 0 DARREN GIFFORD DIRECTOR OF AGRONOMY 40.00 X 167063 0 27423 WILLIAM VASSEUR EXECUTIVE CHEF 40.00 X 162098 0 27691 CRAIG MORTON DIRECTOR OF GOLF OPS 40.00 X 174210 0 28744 PATRICK TRUCHAN FORMER GENERAL MANAGER 40.00 X 296135 0 30970 KELLY REYNOLDS FORMER ASSISTANT GM/CFO 40.00 X 160864 0 9308 STEPHANIE OHLOFF FORMER CFO 40.00 X 130840 0 27040 1091210 0 151176 6 1 1 0 MARVIN GARDENS TREE & LANDSCAPE SVC 2663 4TH AVE SE NAPLES FL 34117 TREE SERVICES 100182 1 MEMBER DUES 713990 8773186 8773186 GREENS & CART FEES 713990 1223895 1087590 136305 GUEST FEES 713990 279848 279848 TRANSFER FEES 713990 107500 107500 CLASSES FEES 713990 50085 50085 43875 43875 10478389 23120 23120 21970 0 21970 21970 21970 46216 47441 -1225 -1225 -1225 1614908 886650 728258 728258 CAPITAL CONTRIBUTIONS 713990 2536391 2536391 CHANGE IN FV OF INTEREST SWAP 713990 748448 748448 INITIATION FEES 713990 405038 405038 106970 106970 3796847 15047359 14887934 159425 0 5127217 99194 661656 392683 76929 30671 22693 1445061 318925 GOLF COURSE MAINTENANCE 1088714 GOLF CARTS, PRO SHOP, L 985954 ADMINISTRATIVE AND GENE 889481 BUILDING MAINTENANCE 398597 665933 12203708 5831468 5798743 4781897 5824692 2923901 3056910 284553 213867 214560 575095 31366590 3656413 28789281 27710177 573522 335979 8853865 43161639 52606871 1467765 2390750 9458004 15136600 10925769 17527350 X 32235870 35079521 32235870 35079521 43161639 52606871 2843651 0 X 0 1 X 1 0 12500000 12500000 11359527 1625044 9734483 2474097 867809 1606288 5032966 1163560 3869406 27710177 CONSTRUCTION IN PROGRESS 8853865 8853865 CURRENT PORTION OF CAPITAL LEASE OBLIGATIONS 128641 DEFERRED DUES 8838679 NON-CURRENT PORTION OF CAPITAL LEASE OBLIGATIONS 231801 NON-CURRENT PORTION OF CONSTRUCTION LOAN 5937479 15136600 X 15935234 887875 887875 15047359 0 15047359 13091583 887875 887875 12203708 0 12203708 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. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 886,650. LOSS ON DISPOSAL 1,225. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 886,650. LOSS ON DISPOSAL 1,225. X 1 0 0 PATRICK TRUCHAN FORMER GENERAL MANAGER 269556 0 15000 0 11579 0 9192 0 21778 0 327105 0 0 0 CRAIG MORTON DIRECTOR OF GOLF OPS 152685 0 14497 0 7028 0 6966 0 21778 0 202954 0 0 0 DARREN GIFFORD DIRECTOR OF AGRONOMY 134415 0 15313 0 17335 0 5645 0 21778 0 194486 0 0 0 WILLIAM VASSEUR EXECUTIVE CHEF 133579 0 14000 0 14519 0 5913 0 21778 0 189789 0 0 0 KELLY REYNOLDS FORMER ASSISTANT GM/CFO 158047 0 0 0 2817 0 2771 0 6537 0 170172 0 0 0 STEPHANIE OHLOFF FORMER CFO 112234 0 0 0 18606 0 5262 0 21778 0 157880 0 0 0 PART I, LINE 4A PATRICK TRUCHAN SEVERANCE PAID IN 6 EQUAL MONTHLY INSTALLMENTS BEGINNING 12/4/2020. KELLY REYNOLDS SEVERANCE PAID IN 4 EQUAL MONTHLY INSTALLMENTS BEGINNING 12/4/2020. FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE AMENDED BY MEMBERSHIP VOTE TO UPDATE CLUB GOVERNANCE POLICIES AND MEMBERSHIP USE RIGHTS. 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 CLUB MEMBERS HAVE RIGHTS TO ELECT AND APPOINT MEMBERS OF THE GOVERNING BODY. THE BOARD OF DIRECTORS HAS THE AUTHORITY TO CREATE COMMITTEES AS DEEMED NECESSARY. GOLF, SPORT, AND SOCIAL MEMBERS CAN ELECT OFFICERS AND DIRECTORS BY VOTING RIGHTS SPLIT ON 10/4/3 PRORATION. FORM 990, PART VI, SECTION A, LINE 7B THE BYLAWS REQUIRE CERTAIN DECISIONS TO BE APPROVED BY A VOTE OF THE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE TAX RETURN IS REVIEWED WITH THE CPA FIRM PREPARING THE RETURN. ADDITIONALLY, THE GOVERNING BOARD DELEGATES THE REVIEW OF THE FORM 990 AND THE RELATED SCHEDULES TO THE CFO, GENERAL MANAGER, TREASURER, AND PRESIDENT. THE RETURN IS PROVIDED TO THE FINANCE COMMITTEE AND BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS MONITORED AT THE BOARD LEVEL. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS PARTICIPATES AND OVERSEES THE HIRING OF THE GENERAL MANAGER AND OTHER TOP MANAGERS OF THE CLUB. THE CLUB RELIES ON REVIEW OF VARIOUS INDUSTRY SPECIFIC COMPARATIVE SALARY AND WAGE STUDIES TO ENSURE THAT TOTAL COMPENSATION PACKAGES OFFERED TO THE GENERAL MANAGER AND OTHER TOP MANAGERS ARE COMPETITIVE AND IN-LINE WITH INDUSTRY AVERAGES. THE EXECUTIVE COMMITTEE (PRESIDENT, VICE PRESIDENT, TREASURER, AND SECRETARY) REVIEWS GENERAL MANAGER SEMI-ANNUALLY, AND DETERMINES ANY BONUSES ANNUALLY FOR THE PREVIOUS YEAR AND ANY COMPENSATION ADJUSTMENTS FOR THE UPCOMING YEAR. THE GENERAL MANAGER REVIEWS THE CFO ANNUALLY AND PROVIDES A RECOMMENDATION FOR BONUS EARNED AND ANY COMPENSATION ADJUSTMENTS TO THE PRESIDENT FOR APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF THE CLUB'S GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE CLUB'S WEBSITE AND UPON REQUEST.