2024-04-15T12:37:02-05:00 2023-05-31 420714325 RSM US LLP 1555 PALM BEACH LAKES BLVD SUITE 500 WEST PALM BEACH FL 334012333 990 2022-06-01 590277270 GULF STREAM GOLF CLUB INC GULF 5612780392 2401 NORTH OCEAN BOULEVARD GULFSTREAM FL 33483 PAUL A LYONS JR TREASURER 5612780392 2024-04-01 1 PAUL LYONS JR XXX-XX-XXXX 0 CHRISTOPHER CECIL P01877773 5617124808 2024-04-01 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ROBERT N CLAY 2401 NORTH OCEAN BOULEVARD GULFSTREAM FL 33483 8116116 0 X GSGCFL.COM X 1966 FL TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION. 15 15 104 36 132360 75234 0 0 6261520 6755266 3104936 -739697 557176 776635 9923632 6792204 0 0 0 0 4232550 4558793 0 0 0 6423880 3091969 10656430 7650762 -732798 -858558 39031529 39946991 6042142 4440323 32989387 35506668 GULF STREAM GOLF CLUB IS A SOCIAL CLUB WHOSE EXEMPT PURPOSE IS TO PROMOTE SOCIAL INTERACTION OF CLUB MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES. 0 0 GULF STREAM GOLF CLUB HAS AN 18 HOLE GOLF COURSE. ALL GOLF ROUNDS ARE MEMBER RELATED. THE CLUB ALSO MAINTAINS AND OPERATES A DINING FACILITY FOR MEMBERS. TOTAL FOOD AND BEVERAGE REVENUE FOR THE YEAR WAS $1,097,573 OF WHICH $22,185 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 39 0 1 104 1 1 1 0 0 0 1 1 0 22185 0 0 0 X 15 15 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X TOM TURBYFILL 5612780392 2401 NORTH OCEAN BOULEVARD GULFSTEAM FL 33483 ROBERT N CLAY PRESIDENT 1.00 X X 0 0 0 MICHAEL BELL VICE PRESIDENT 1.00 X X 0 0 0 PAUL A LYONS TREASURER 1.00 X X 0 0 0 JOHN M CORNISH SECRETARY 1.00 X X 0 0 0 DEWITT ALEXANDRE DIRECTOR 1.00 X 0 0 0 THOMAS G CIGARRAN DIRECTOR 1.00 X 0 0 0 MRS RICHARD DIPIETRO DIRECTOR 1.00 X 0 0 0 GEORGE N FUGELSANG DIRECTOR 1.00 X 0 0 0 STEPHEN J HALL DIRECTOR 1.00 X 0 0 0 ROBERT W PYNE DIRECTOR 1.00 X 0 0 0 CARLOS J ROUTH JR DIRECTOR 1.00 X 0 0 0 THOMAS R STEELE DIRECTOR 1.00 X 0 0 0 MRS EDWARD H STOPHER DIRECTOR 1.00 X 0 0 0 MRS GLENN WEBER DIRECTOR 1.00 X 0 0 0 JOHN F GALLAGHER III DIRECTOR 1.00 X 0 0 0 TOM TURBYFILL CHIEF FINANCIAL OFFICER 40.00 X 198492 0 18053 KEVIN BAUER CLUB MANAGER 40.00 X 265782 0 25191 ROBERT MIELBRECHT HEAD GOLF PRO 40.00 X 206309 0 21106 RYAN SWILLEY GOLF COURSE SUPERINTENDENT 40.00 X 206503 0 23169 JOANNE MCNAMARRA HR DIRECTOR 40.00 X 108867 0 9162 985953 0 96681 5 0 1 0 0 MEMBERSHIP DUES 713910 5649441 5649441 GREEN FEES 713910 561114 561114 GOLF CARTS 713910 337513 337513 LOCKER ROOMS 713910 133753 133753 DECORATIONS 713910 73445 73445 6755266 118861 118861 16340 874898 -858558 -858558 -858558 1097573 449014 648559 635060 13499 TRANSFER OF RESERVE FUNDS 713910 128076 128076 128076 6792204 7518402 132360 -858558 X 3540375 102392 916026 686278 GOLF COURSE MAINTENANCE 847179 REPAIRS & MAINTENANCE 344933 ADMINISTRATIVE & GENERA 341542 GOLF ACTIVITIES 293030 579007 7650762 5248337 2039620 565066 2111242 105216 154667 51157 55693 75263 98566 35460419 32979138 35460419 7352 26784 39031529 39946991 1557163 606259 4484979 3834064 6042142 4440323 X 32989387 35506668 32989387 35506668 39031529 39946991 X -858558 3375839 X X 0 1 X 1 0 10131116 10131116 14640071 14640071 5378483 5378483 5310749 5310749 35460419 RESERVES 3682064 OTHER LIABILITIES 152000 3834064 X 7241218 0 7241218 -449014 -449014 6792204 8099776 449014 449014 7650762 0 7650762 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 FASB ACCOUNTING STANDARDS CODIFICATION. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF SALES -449,014. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 449,014. X X X X X 0 0 0 KEVIN BAUER CLUB MANAGER 215782 0 40000 0 10000 0 7973 0 17218 0 290973 0 0 0 RYAN SWILLEY GOLF COURSE SUPERINTENDENT 167937 0 28566 0 10000 0 6195 0 16974 0 229672 0 0 0 ROBERT MIELBRECHT HEAD GOLF PRO 190398 0 5911 0 10000 0 6189 0 14917 0 227415 0 0 0 TOM TURBYFILL CHIEF FINANCIAL OFFICER 168492 0 30000 0 0 0 5955 0 12098 0 216545 0 0 0 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 ONLY REGULAR MEMBERS SHALL HAVE THE RIGHT TO VOTE, TO PROPOSE AND SECOND CANDIDATES FOR MEMBERSHIP, AND TO SERVE AS GOVERNORS OF THE CLUB. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING DECISIONS BY THE BOARD OF GOVERNORS ARE SUBJECT TO MEMBERS APPROVAL: 1) TO SELL OR LEASE THE REAL PROPERTY OF THE CLUB OR TO MORTGAGE OR OTHERWISE ENCUMBER SAME; TO SELL CLUB PERSONAL PROPERTY EXCEPT IN THE CONDUCT OF NORMAL COURSE OF BUSINESS. 2) TO INCREASE THE NUMBER OF MEMBERS FROM 300 MEMBERS. THIS NUMBER SHALL BE INCREASED BY A MAJORITY VOTE OF THE MEMBERSHIP VOTING IN PERSON OR BY PROXY AT A MEETING. 3) TO ALTER OR AMEND THE CHARTER OF THE CLUB OR TO ALTER, AMEND, OR REPEAL AND ADOPT NEW BY-LAWS. THIS DECISION MUST BE ADOPTED BY: (A) THE MEMBERS BY AFFIRMATIVE VOTE OF NOT LESS THAN A MAJORITY OF THOSE PRESENT OR REPRESENTED AT ANY MEETING OF THE CLUB. (B) THE BOARD OF GOVERNORS BY AFFIRMATIVE VOTE OF A MAJORITY OF THOSE PRESENT AT ANY MEETING OF THE CLUB. 4) TO ENTER INTO A DEBT AGREEMENT GREATER THAN $500K. 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 AND THE TREASURER. THE CFO AND TREASURER OF THE BOARD REVIEW THE FORM 990 AND RELATED SCHEDULES IN ITS ENTIRETY WITH OUR OUTSIDE ACCOUNTING FIRM BEFORE THE FORM IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CFO AND TREASURER MONITOR ALL TRANSACTIONS WITH THE VENDORS TO ENSURE NO CONFLICTS OF INTEREST ARISE. FORM 990, PART VI, SECTION B, LINE 15 THE COMMITTEE CHAIR OF THE DEPARTMENT WILL REQUEST AN INCREASE IN PAY FOR THEIR DEPARTMENT HEADS. THE CLUB PRESIDENT WILL THEN REVIEW AND APPROVE THE LISTING EACH YEAR. COMPENSATION STUDIES, INDUSTRY STUDIES, AND EMPLOYMENT CONTRACT AGREEMENTS ARE USED IN THE DETERMINATION AND DOCUMENTATION OF COMPENSATION. 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 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT AVAILABLE TO THE PUBLIC FOR INSPECTION. FORM 990, PART IX, LINE 24E FOOD & BEVERAGE 266,209. REAL ESTATE & PERSONAL PROPERTY TAXES 254,656. DECORATIONS 44,472. LOCKER ROOMS 11,452. VALET SECURITY 2,218. FORM 990, PART XI, LINE 9: TRANSFERS TO RESERVES -1,930,000. MEMBERSHIP CERTIFICATES ISSUED 22,000. NET INCREASE IN PROPERTY & EQUIPMENT 3,339,839. REDEMPTION OF MEMBERSHIP CERTIFICATES -6,000. INITIATION FEES 1,930,000. OTHER RESERVE EXPENDITURES 20,000. FORM 990, PART XII, LINE 2C: NO CHANGE FROM PRIOR YEAR.