2024-08-15T13:23:45-05:00 2023-09-30 934739451 PPCO ADVISORS LLC 333 W SANTA CLARA ST SUITE 800 SAN JOSE CA 951131716 990 2022-10-01 941399755 UNIVERSITY CLUB OF PALO ALTO UNIV 6504933972 3277 MIRANDA AVENUE PALO ALTO CA 94304 GLEN KERNICK PRESIDENT 6504933972 2024-08-15 1 1 SCOTT WATTERS P01246213 4082877911 2022 2024-08-08 14:25:15Z GLEN KERNICK 3277 MIRANDA AVENUE PALO ALTO CA 94304 4011248 0 X HTTP://WWW.UCPALOALTO.COM X 1952 CA TO PROVIDE SOCIAL AND RECREATIONAL BENEFITS TO CLUB MEMBERS. 9 9 89 48 151825 5245 0 0 2670508 2718366 6484 -21147 1288182 1007603 3965174 3704822 0 0 0 0 2271400 2304796 0 0 0 1765065 1719886 4036465 4024682 -71291 -319860 6288905 5923934 1948008 1937833 4340897 3986101 X THE UNIVERSITY CLUB OF PALO ALTO EXISTS AS A RECREATIONAL AND SOCIAL CENTER FOR ITS MEMBERS. ALTHOUGH ITS PHYSICAL PLANT IS IMPORTANT, ITS CORE PURPOSE IS TO PROVIDE A GATHERING PLACE AND SOCIAL SETTING FOR ITS MEMBERS TO ENJOY ON A FULL LIFE CYCLE. AS A SWIM, TENNIS AND FITNESS FACILITY, THE CLUB OFFERS A PICTURESQUE AND COMFORTABLE ENVIRONMENT FOR THE RECREATIONAL ENJOYMENT OF THESE ACTIVITIES, BUT IT ALSO PROVIDES AN OUTLET FOR THOSE SEEKING HEALTHY COMPETITION. IN PROVIDING FOOD SERVICES THE CLUB STRIVES TO BE USER-FRIENDLY, OFFERING A MENU ATTRACTIVE TO BOTH THE CASUAL DINER AND THE OCCASIONAL GOURMET. THE CLUB ALSO SERVES AS A MEETING PLACE SUITABLE FOR BUSINESS AND CLIENT ENTERTAINMENT AS WELL AS PURELY SOCIAL ENGAGEMENTS.IN OFFERING A VARIETY OF ATHLETIC, SOCIAL AND BUSINESS DEVELOPMENT OPPORTUNITIES, THE CLUB INTENDS TO PROVIDE A RELAXING AND FRIENDLY ENVIRONMENT, ATTRACTIVE WITHOUT BEING FANCY, IN SHORT, A PLACE FOR MEMBERS AND THEIR FAMILIES TO VISIT AND ENJOY. 0 0 TO PROVIDE SOCIAL AND RECREATIONAL PROGRAMS FOR CLUB MEMBERS. 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 5 0 1 89 1 0 0 0 0 0 383060 164189 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X JULIE MAHOWALD 6504933972 3277 MIRANDA AVENUE PALO ALTO CA 94304 GLEN KERNICK PRESIDENT 5.00 X X 0 0 0 NELLIS FREEMAN VICE PRESIDENT 5.00 X X 0 0 0 JULIE MAHOWALD TREASURER 5.00 X X 0 0 0 KIM GAVENMAN SECRETARY 5.00 X X 0 0 0 TOM BREHME DIRECTOR 5.00 X 0 0 0 KIRK LATOUR DIRECTOR 5.00 X 0 0 0 SUZANNE SHULTZ DIRECTOR 5.00 X 0 0 0 DINRAJ SHETTY DIRECTOR 5.00 X 0 0 0 JON WARD DIRECTOR 5.00 X 0 0 0 HEINZ HOFMANN GENERAL MANAGER 40.00 X 202783 0 642 RANDY BECKER TENNIS/PICKLEBALL DIRECTOR 40.00 X 162522 0 16858 MILES BENTLEY HEAD TENNIS/PICKLEBALL PRO 40.00 X 138337 0 4221 503642 0 21721 3 0 1 0 0 MEM DUES & ASSESSMENTS 713940 1999327 1999327 TENNIS REVENUE 713940 438551 391257 47294 AQUATICS REVENUE 713940 169947 146257 23690 FITNESS ROOM AND DAY C 713940 110541 92831 17710 2718366 9229 9229 3500 33876 -30376 -30376 -30376 895461 272550 622911 569009 53902 TRANSFER FEES 713940 383060 383060 OTHER INCOME 713940 1632 1632 384692 3704822 3552997 151825 0 X 206955 1810581 10918 111714 164628 33039 48875 3232 57327 506762 UTILITIES 314148 REPAIRS & MAINTENANCE 158869 INSURANCE 109705 SUPPLIES 89997 397932 4024682 428355 453087 250037 50084 444843 423772 42268 56495 70731 101947 11780618 6954145 4877680 4826473 174991 12076 6288905 5923934 281522 332789 1474152 1434198 192334 170846 1948008 1937833 X 4340897 3986101 4340897 3986101 6288905 5923934 X -319860 -34936 X X 0 1 X 1 0 6561245 3668138 2893107 1734682 1441948 292734 3484691 1844059 1640632 4826473 DUES - DEFERRED CREDITS 156697 UNEARNED TENNIS REVENUE 3393 UNEARNED AQUATICS REVENUE 5756 OTHER UNEARNED REVENUE 5000 170846 X 3977372 272550 272550 3704822 0 3704822 4297232 272550 272550 4024682 0 4024682 PART X, LINE 2: THE CLUB ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH ASC 740-10-25, RECOGNITION OF INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE CLUB'S FINANCIAL STATEMENTS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. ASC 740-10-25 ALSO PROVIDES GUIDANCE ON DERECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE CLUB DID NOT HAVE UNRECOGNIZED TAX BENEFITS AS OF SEPTEMBER 30, 2023 AND DOES NOT EXPECT THIS TO CHANGE SIGNIFICANTLY OVER THE NEXT 12 MONTHS. IN CONNECTION WITH THE ADOPTION OF ASC 740-10-25, THE CLUB WILL RECOGNIZE INTEREST AND PENALTIES ACCRUED ON ANY UNRECOGNIZED TAX BENEFITS AS A COMPONENT OF INCOME TAX EXPENSE. AS OF SEPTEMBER 30, 2023, THE CLUB BELIEVES THAT THERE ARE NO INTEREST OR PENALTIES TO ACCRUE RELATED TO UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 272,550. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 272,550. SCHEDULE D - GENERAL THE CLUB IS EXEMPT FROM TAXATION ON ITS NONPROFIT ACTIVITY OF PROVIDING TENNIS AND RELATED RECREATION TO ITS MEMBERS UNDER INTERNAL REVENUE CODE SECTION 501(C)(7) AND CALIFORNIA REVENUE AND TAXATION CODE SECTION 23701(G). THE CLUB IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT ACTIVITIES. THE U.S. SUPREME COURT RULED THAT IN MOST CASES, INVESTMENT INCOME IS NOT RELATED TO A CLUB'S EXEMPT FUNCTION; THEREFORE, IT IS SUBJECT TO INCOME TAX. THE CLUB DID INCUR INCOME TAX EXPENSE FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND SEPTEMBER 30, 2022. 0 0 0 HEINZ HOFMANN GENERAL MANAGER 187783 0 15000 0 0 0 0 0 642 0 203425 0 0 0 RANDY BECKER TENNIS/PICKLEBALL DIRECTOR 162016 0 506 0 0 0 0 0 16858 0 179380 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 MEMBERS OF THE CLUB FORM 990, PART VI, SECTION A, LINE 7A ALL EQUITY MEMBERS HAVE TWO VOTES FORM 990, PART VI, SECTION A, LINE 7B APPROVAL BY THE EQUITY MEMBERS OF THE CLUB IS REQUIRED FOR ALL CHANGES TO THE BY-LAWS. FORM 990, PART VI, SECTION B, LINE 11B THE CLUB PROVIDES COPIES OF THE FORM 990 TO BOARD MEMBERS. THE CONTROLLER & THE TREASURER REVIEW AND THEN SIGN AND SUBMIT FORM 990. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY: UNIVERSITY CLUB OF PALO ALTO IS CONCERNED WITH CONFLICTS OF INTEREST THAT CREATE ACTUAL OR POTENTIAL JOB RELATED CONCERNS, ESPECIALLY IN THE AREAS OF CONFIDENTIALITY, CUSTOMER RELATIONS, SAFETY, SECURITY, AND MORALE. ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST BETWEEN AN EMPLOYEE OF UCPA AND A COMPETITOR, SUPPLIER, DISTRIBUTOR, OR CONTRACTOR TO UCPA, MUST BE DISCLOSED BY THE EMPLOYEE TO HUMAN RESOURCES. IF AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST IS DETERMINED TO EXIST, UCPA WILL TAKE SUCH STEPS AS IT DEEMS NECESSARY TO REDUCE OR ELIMINATE THIS CONFLICT. OUTSIDE EMPLOYMENT WHICH CREATES A CONFLICT OF INTEREST OR WHICH AFFECTS THE QUALITY OR VALUE OF YOUR WORK PERFORMANCE OR AVAILABILITY AT UCPA IS PROHIBITED. UCPA RECOGNIZES THAT EMPLOYEES MAY SEEK ADDITIONAL EMPLOYMENT DURING OFF HOURS, BUT EXPECTS, IN THESE CASES, THAT ANY OUTSIDE EMPLOYMENT WILL NOT AFFECT JOB PERFORMANCE, WORK HOURS, OR SCHEDULING, OR OTHERWISE ADVERSELY AFFECT THE EMPLOYEE'S ABILITY TO EFFECTIVELY PERFORM HIS OR HER DUTIES. ANY CONFLICTS SHOULD BE REPORTED TO YOUR SUPERVISOR. FAILURE TO ADHERE TO THIS POLICY MAY RESULT IN DISCIPLINE UP TO AND INCLUDING TERMINATION. FORM 990, PART VI, SECTION B, LINE 15 OFFICERS AND KEY EMPLOYEES' COMPENSATIONS ARE REVIEWED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS AND COMPARED TO ANNUAL DATA REQUESTED FROM LOCAL CLUBS. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, POLICY STATEMENTS AND FINANCIAL STATEMENTS ARE HELD BY THE CLUB'S GENERAL MANAGER AND CONTROLLER, WHO PRESENT THE DOCUMENTS UPON REQUEST. FORM 990, PART IX, LINE 24E LANDSCAPING 70,256. PROPERTY TAXES 47,982. INTERNET / WEB SERVICES 47,381. WORKERS COMP 32,256. EMPLOYEE MEALS 28,567. PAYROLL EXPENSE 28,366. DINING ROOM EXPENSES 26,546. MISCELLANEOUS 21,288. TELEPHONE 18,962. EQUIPMENT RENTAL & MAINT 15,125. DUES AND SUBSCRIPTIONS 8,565. SWIMMING EXPENSES 8,197. LICENSES AND PERMITS 7,291. BANK FEES 6,366. MARKETING EXPENSE 6,285. ENTERTAINMENT 5,869. PRINTING & COPYING 5,600. PROFESSIONAL SERVICES 3,616. BANQUET EXPENSE 3,284. EDUCATION 1,725. POSTAGE 1,452. EMPLOYEE TRAVEL 1,276. TOURNAMENT EXPENSES 902. DAY CAMP EXPENSE 662. SIGNAGE AND PAINTING EXPENSE 113. FORM 990, PART XI, LINE 9: MEMBER'S EQUITY DISTRIBUTIONS -104,637. DONOR RESTRICTED CONTRIBUTIONS 69,701. PART XII, LINE 2 C NO CHANGE FROM THE PRIOR YEAR.