2024-11-15T08:17:51-06:00 2023-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 40 WESTMINSTER STREET SUITE 600 PROVIDENCE RI 02903 990 2023-01-01 050496668 SAKONNET POINT CLUB SAKO 4016352582 11 BLUFF HEAD AVENUE LITTLE COMPTON RI 02837 MELISSA HAIRE TREASURER 4016352582 2024-11-14 1 1 KERRI RAWCLIFFE P01398485 4016216200 2024-11-14 2023 2024-10-15 13:58:12Z MELISSA HAIRE 11 BLUFF HEAD AVENUE LITTLE COMPTON RI 02837 3438694 0 1 X WWW.SAKONNETPOINTCLUB.ORG X 1998 RI FOUNDED IN 1998 TO REVITALIZE A HISTORIC HARBOR PROPERTY AND TO PRESERVE ITS STORIED HERITAGE, THE SAKONNET POINT CLUB'S MISSION IS TO PROVIDE MEMBERS AND THEIR GUESTS ACCESS TO SAKONNET WATERS, AS WELL AS OFFER QUALITY, COMPLEMENTARY ACTIVITIES SUCH AS BOATING, SWIMMING, EXERCISING, DINING AND SOCIALIZING IN A SETTING OF UNMATCHED HARBOR AND OCEAN VIEWS. THE CLUB IS FULLY COMMITTED TO MAINTAINING A RELAXED, FAMILY FOCUSED AND WELCOMING ATMOSPHERE, AND MANAGING ITS FINANCIAL AFFAIRS IN A RESPONSIBLE MANNER. 14 14 122 20 -1921 0 0 0 1765753 1902504 1357 12243 -217773 -351573 1549337 1563174 0 0 0 0 392783 452186 0 0 0 995639 1085356 1388422 1537542 160915 25632 8588800 8535098 7749263 7642800 839537 892298 X FOUNDED IN 1998 TO REVITALIZE AN HISTORIC HARBOR PROPERTY AND TO PRESERVE ITS STORIED HERITAGE, THE SAKONNET POINT CLUB'S MISSION IS TO PROVIDE MEMBERS AND THEIR GUESTS ACCESS TO SAKONNET WATERS, AS WELL AS OFFER QUALITY, COMPLEMENTARY ACTIVITIES SUCH AS BOATING, SWIMMING, EXERCISING, DINING AND SOCIALIZING IN SETTING OF UNMATCHED HARBOR AND OCEAN VIEWS. THE CLUB IS FULLY COMMITTED TO MAINTAINING A RELAXED, FAMILY FOCUSED AND WELCOMING ATMOSPHERE, AND MANAGING ITS FINANCIAL AFFAIRS IN A RESPONSIBLE MANNER. 0 0 CLUB SERVICES 409 MEMBERS AND 271 OFF-SEASON PRIVILEGE HOLDERS, PROVIDING SOCIAL AND RECREATIONAL OPPORTUNITIES FOR MEMBERS AND THEIR GUESTS. WATERFRONT FACILITIES FOR THE USE OF MEMBERS TO LAUNCH THEIR BOATS. THE CLUB OFFERS PERSONAL TRAINING SERVICES, MASSAGE THERAPY AND A VARIETY OF ACTIVITIES TO SUPPORT HEALTH AND WELLNESS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 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 6 0 1 122 1 1 1 0 0 0 1 1 96898 52806 0 0 0 X 14 14 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X PEGGY BODINGTON 4016352500 2 MEETING HOUSE LANE LITTLE COMPTON RI 02837 X SCOTT A MORRISON PRESIDENT 20.00 X X 0 0 0 MELISSA HAIRE TREASURER 20.00 X X 0 0 0 ROBERT GALFORD DIRECTOR 5.00 X 0 0 0 DIANNE KEELER BRUCE DIRECTOR 5.00 X 0 0 0 ROBERT MUELLER DIRECTOR 5.00 X 0 0 0 LISA HAFFENREFFER DIRECTOR 5.00 X 0 0 0 DAVID MARTIN DIRECTOR 5.00 X 0 0 0 THOMAS VANDERSALM DIRECTOR 5.00 X 0 0 0 RYAN WAGNER DIRECTOR 5.00 X 0 0 0 NANCY GOODWIN DIRECTOR 5.00 X 0 0 0 HOLLY LIPPERT DIRECTOR 5.00 X 0 0 0 MICHAEL HUDNER DIRECTOR 5.00 X 0 0 0 JONI WALSER DIRECTOR 5.00 X 0 0 0 ROBERTA CAPUANO DIRECTOR 5.00 X 0 0 0 CRAIG DEMOTT CLUB MANAGER 50.00 X 185877 0 5856 185877 0 5856 1 0 1 0 0 MEMBERSHIP DUES AND ASSESSMENTS 713910 1529335 1529335 GUEST AND OFF-SEASON FEES 713910 265073 265073 DRY SLIP REVENUE 713910 92028 91203 825 TRAINING AND FITNESS REVENUE 713910 12464 9384 3080 COVE MARKET REVENUE 713910 3600 3600 4 4 1902504 522 522 1721 10000 0 0 1721 10000 11721 10000 1721 1515709 1875520 -359811 -351742 -8069 OTHER INCOME 900099 8238 8238 8238 1563174 1565095 -1921 0 185877 189167 34815 42327 135428 18834 13645 114439 103 138522 231326 74183 MAINTENANCE & LANDSCAPI 101937 REPAIRS 77030 SUPPLIES 72849 CLEANING SERVICES 34649 72411 1537542 209297 431946 233715 287187 52400 65316 76353 72756 11115704 3758808 7399927 7356896 500998 209106 116110 111891 8588800 8535098 124376 135478 1764162 1741756 5833675 5720841 27050 44725 7749263 7642800 X 839537 892298 839537 892298 8588800 8535098 25632 27129 0 X X 0 1 1 0 1761965 1761965 6317510 2222547 4094963 316572 170940 145632 565916 407699 158217 2153741 957622 1196119 7356896 SALES TAX PAYABLE 12034 PAYROLL LIABILITIES 2527 OTHER LIABILITIES 30164 44725 X 3465301 27129 1875520 1902649 1562652 522 522 1563174 3412540 1875520 1875520 1537020 522 522 1537542 PART X, LINE 2: THE CLUB RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE CLUB HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE CLUB IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE OR LOCAL INCOME TAX EXAMINATIONS FOR PERIODS PRIOR TO DECEMBER 31, 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 1,875,520. PART XI, LINE 4B - OTHER ADJUSTMENTS: INTEREST INCOME NETTED WITH OTHER EXPENSES ON FINANCIAL STATEMENTS. 522. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 1,875,520. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST INCOME NETTED WITH OTHER EXPENSES ON FINANCIAL STATEMENTS. 522. X 0 1 X X X 0 0 0 CRAIG DEMOTT CLUB MANAGER 177570 0 0 0 8307 0 0 0 5856 0 191733 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS WHO ELECT THE MEMBERS OF THE GOVERNING BODY, AND WHO APPROVE SIGNIFICANT DECISIONS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7A THE CLUB'S MEMBERS HAVE THE AUTHORITY TO ELECT MEMBERS OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED AND APPROVED BY THE TREASURER AND AUDIT SUBCOMMITTEE OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED ANNUALLY TO THE BOARD TO SIGN IN ORDER TO ENSURE THAT THERE ARE NO RELATIONSHIPS THAT EXIST WHICH ARE INAPPROPRIATE FOR THE ORGANIZATION AT THE FIRST BOARD MEETING AFTER THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 15A THE CLUB'S GENERAL MANAGER'S COMPENSATION DECISION PROCESS IS SUBJECT TO INDEPENDENT APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS FINANCIAL STATMENTS/GOVERNING DOCUMENTS/CONFLICT OF INTEREST POLICY AVAILABLE TO THE GENERAL PUBLIC. THE FINANCIAL STATMENTS AND ALL OTHER DOCUMENTS ARE AVAILABLE FOR MEMBERS TO VIEW UPON REQUEST, BY APPOINTMENT ONLY, AND WITHIN 24 HOURS OF THE REQUEST. FORM 990, PART XI, ITEM 2C THE ORGANIZATION'S FINANCE COMMITTEE HAS DIRECT OVERSIGHT AND RESPONSIBILITY FOR THE SELECTION OF ITS OUTSIDE CPA, AS WELL AS ITS ANNUAL FINANCIAL STATEMENT REVIEW. THERE WAS NO CHANGE IN THIS PROCESS FROM THE PRIOR YEAR.