2024-08-09T08:46:30-05:00 2023-09-30 420714325 RSM US LLP 1555 PALM BEACH LAKES BLVD SUITE 500 WEST PALM BEACH FL 33401 990 2022-10-01 591556454 LOST TREE CLUB INC LOST 5616261501 11520 LOST TREE WAY NORTH PALM BEACH FL 33408 RICK H BAYLISS GM/COO 5616261501 2024-08-02 1 0 CHRISTOPHER CECIL P01877773 5616971785 2024-07-30 2022 2024-08-08 14:25:15Z PAUL WOOD 11520 LOST TREE WAY NORTH PALM BEACH FL 33408 21252063 0 X WWW.LOSTTREECLUB.COM X 1974 FL TO BIND ITS MEMBERS TOGETHER WITH A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION. 13 13 284 13 428160 0 2231009 0 13508779 14578627 -633415 5136 3387469 3633617 18493842 18217380 0 0 0 0 10982807 12123009 0 0 0 8529798 8567939 19512605 20690948 -1018763 -2473568 52074742 54620935 16023100 18165183 36051642 36455752 THE LOST TREE CLUB IS A RECREATIONAL CLUB WHOSE EXEMPT PURPOSE IS TO PROMOTE SOCIAL INTERACTION OF CLUB MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES. 0 0 LOST TREE CLUB, INC. PROVIDES GOLF AND DINING FACILITIES FOR MEMBERS. APPROXIMATELY 500 MEMBERS BENEFIT FROM THE CLUB FACILITIES. LOST TREE CLUB SERVED FOOD & BEVERAGES IN THE DINING FACILITY TOTALING $ 4,591,729 FOR THE YEAR OF WHICH $ 289,153 WAS NON-MEMBER RELATED. LOST TREE CLUB PROVIDES GOLF FACILITIES WITH REVENUE TOTALING $ 1,520,614 FOR THE YEAR OF WHICH $196,433 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 88 0 1 284 1 1 1 0 0 0 1 1 0 497383 0 0 0 X 13 13 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 0 0 0 X FERNANDO SANCHEZ ELIAS 5616226900 11520 LOST TREE WAY NORTH PALM BEACH FL 33408 SAMUEL H ARMACOST PRESIDENT 1.00 X X 0 0 0 JOHN BARNETT VICE PRESIDENT 1.00 X X 0 0 0 PAUL WOOD TREASURER 1.00 X X 0 0 0 STEPHEN KIRMSE SECRETARY 1.00 X X 0 0 0 RUSS MACDONNELL DIRECTOR 1.00 X 0 0 0 DAVID MCBRIDE DIRECTOR 1.00 X 0 0 0 PAMELA GOERGEN DIRECTOR 1.00 X 0 0 0 ATWOOD COLLINS III DIRECTOR 1.00 X 0 0 0 JANET LEWIS DIRECTOR 1.00 X 0 0 0 AARON YEARY DIRECTOR 1.00 X 0 0 0 THOMAS RYAN DIRECTOR 1.00 X 0 0 0 BARBARA JAFFE DIRECTOR 1.00 X 0 0 0 BARBARA WELDON DIRECTOR 1.00 X 0 0 0 RICK BAYLISS GENERAL MANAGER/COO 60.00 X 541309 0 98489 JONATHON GOODMAN CHIEF FINANCIAL OFFICER 60.00 X 206220 0 41685 BRIAN PEAPER DIRECTOR OF GOLF OPERATION 55.00 X 416786 0 33665 ZACHARIAH BELL EXECUTIVE CHEF 55.00 X 295691 0 21494 CHARLES SCHAMING GOLF COURSE SUPERINTENDENT 55.00 X 267973 0 41209 MICHAEL KOSTELNIK HEAD GOLF PROFESSIONAL 40.00 X 263044 0 35059 SHERI HERB MEMBERSHIP DIRECTOR 40.00 X 158680 0 34803 2149703 0 306404 8 0 1 0 0 MEMBERSHIP DUES 713910 11719230 11719230 GOLF CART/GREENS FEES 713910 1520614 1324181 196433 FITNESS CENTER 713910 1117803 1115178 2625 TENNIS 713910 220980 220980 14578627 46766 46766 347146 347146 0 41630 -41630 -41630 -41630 5866594 2645907 3220687 3046746 173941 OTHER INCOME 713990 412930 404535 8395 412930 18217380 17830850 428160 -41630 9824676 1537929 760404 16687 2100000 701647 GOLF COURSE MAINTENANCE 1359754 FOOD AND BEVERAGE 1091343 ADMIN AND GENERAL EXPEN 710308 MEMBERSHIP ACTIVITIES 589366 1998834 20690948 14305494 14067996 364147 239044 693357 665376 1011042 1095537 66096500 28423866 34996470 37672634 704232 880348 52074742 54620935 2191623 1452695 10427696 11948727 3403781 4763761 16023100 18165183 X 36051642 36455752 36051642 36455752 52074742 54620935 X -2473568 2877678 X X 0 1 X 1 0 4835949 4835949 35247001 17591129 17655872 10100208 5040828 5059380 15913342 5791909 10121433 37672634 DEFERRED COMPENSATION PLAN PAYABLE 548316 REFUNDABLE SOCIAL MEMBERSHIPS 3119000 FINANCE LEASES 21213 OPERATING LEASES 75232 LONG-TERM DEBT 1000000 4763761 X 20886561 2669181 2669181 18217380 0 18217380 23360129 2669181 2669181 20690948 0 20690948 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 INCOME TAXES WITHIN THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARD BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 2,645,907. RENTAL EXPENSE 347,146. RENTAL EMPLOYEE HOUSING -323,872. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 2,645,907. RENTAL EXPENSE 347,146. RENTAL EMPLOYEE HOUSING -323,872. X 1 1 X X 0 0 0 RICK BAYLISS GENERAL MANAGER/COO 393922 0 130000 0 17387 0 68740 0 29749 0 639798 0 0 0 BRIAN PEAPER DIRECTOR OF GOLF OPERATION 349690 0 52000 0 15096 0 9453 0 24212 0 450451 0 0 0 ZACHARIAH BELL EXECUTIVE CHEF 270615 0 25000 0 76 0 0 0 21494 0 317185 0 0 0 CHARLES SCHAMING GOLF COURSE SUPERINTENDENT 258413 0 1500 0 8060 0 7139 0 34070 0 309182 0 0 0 MICHAEL KOSTELNIK HEAD GOLF PROFESSIONAL 163601 0 9945 0 89498 0 5943 0 29116 0 298103 0 0 0 JONATHON GOODMAN CHIEF FINANCIAL OFFICER 185882 0 20200 0 138 0 5724 0 35961 0 247905 0 0 0 SHERI HERB MEMBERSHIP DIRECTOR 136922 0 21500 0 258 0 7162 0 27641 0 193483 0 0 0 PART I, LINE 1A THE GENERAL MANAGER/COO AND EXECUTIVE CHEF HAVE A SUBSTANTIATED CORPORATE SPENDING ACCOUNT PER TERMS OF THEIR CONTRACT. 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 MEMBER CATEGORIES HAVE VOTING PRIVILEGES: ACTIVE A (2 VOTES), ACTIVE B (1 VOTE). FORM 990, PART VI, SECTION A, LINE 7B THE MORTGAGE, SALE OR PLEDGE OF THE CLUB'S REAL PROPERTY AND CAPITAL ASSESSMENTS TO FUND CAPITAL PURPOSES OF THE CLUB, BY LAW CHANGES AND ASSESSMENTS REQUIRES A MAJORITY VOTE OF MEMBERS. 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 CFO. THE CFO REVIEWS FORM 990 WITH ITS OUTSIDE CPA PREPARER PRIOR TO THE FILING OF THE FORM. FORM 990, PART VI, SECTION B, LINE 12C THE CHIEF OPERATING OFFICER/GENERAL MANAGER REVIEWS ALL CONFLICT OF INTEREST DISCLOSURE FORMS AND ACTIONS ARE TAKEN IF NEEDED. 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 CLUB'S GOVERNING DOCUMENTS ARE AVAILABLE FOR INSPECTION AT THE CLUB, ON THE CLUB WEBSITE, AND UPON REQUEST. THE CLUB'S CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE FOR INSPECTION AT THE CLUB AND UPON REQUEST. FORM 990, PART XI, LINE 9: REDEMPTION OF STOCK & SOCIAL MEMBERSHIPS -792,622. COLLECTION FROM NEW MEMBERS 3,815,500. TRANSFERS TO REFUNDABLE SOCIAL MEMBERSHIPS -145,200. FORM 990, PART XII, LINE 2C NO CHANGE FROM PRIOR YEAR.