2024-11-06T12:19:14-08:00 2023-12-31 453940224 CHARLES R COX PC CPA 545 OGLETHORPE AVE SUITE 104 SAINT SIMONS ISLAND GA 31522 990EZ 2023-01-01 020546450 Beaufort Community Sailing and Boating BEAU 8432632082 30 Yacht Club Drive Beaufort SC 29907 Hugh Nichols Treasurer 8432632082 2024-09-18 true true Charles R Cox P01423508 9126386858 2024-11-06 X 2023 2024-10-15 13:58:12Z X X N/A X X 147866 X 8478 70753 0 0 22233 0 22233 46402 3852 42550 0 0 144014 52639 1688 99273 153600 -9586 81187 -36127 35474 47339 36546 33848 863 81187 37409 1935 81187 35474 To promote sailing in the community Learn to Sail - Taught sailing to youths from beginnerto competetive racer. Provided adult sailing lessons 0 33418 High School Sailing - Taught sailing to high schoolstudents through lessons and clinics 0 499 Boat Building - Taught youths the basics of buildinga boat using STEM principles 0 1408 35325 Nathan Akers President 5.00 0 0 0 Leif Koppernaes Secretary 3.00 0 0 0 Hugh Nichols Treasurer 3.00 0 0 0 Ellen Fabien Board Member 1.00 0 0 0 Ben Coppage Board Member 1.00 0 0 0 Butch Mumma Board Member 1.00 0 0 0 Jason Ruhf Board Member 1.00 0 0 0 Paul Keyserling Board Member 1.00 0 0 0 Thomas Tayloe Board Member 1.00 0 0 0 Read Clark Fleet Captain 5.00 0 0 0 Cristopher Egan Board Member 1.00 0 0 0 false false false false false false false 0 0 false false Hugh Nichols 30 Yacht Club Drive Beaufort SC 29907 6023214732 false false false false false false false false false false false NONE NONE true X 0 10225 22723 8738 6928 8475 57089 0 0 10225 22723 8738 6928 8475 57089 0 57089 0 0 0 57089 1.00000 X 0 0 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED NYD Oyster Roast 46402 46402 3852 46402 46402 3852 3852 42550 Form 990EZ, Part I, Line 16 Purchase of Boats 36354. Form 990EZ, Part I, Line 16 Insurance 11181. Form 990EZ, Part I, Line 16 Operations 2263. Form 990EZ, Part I, Line 16 Learn to Sail Expense 33418. Form 990EZ, Part I, Line 16 RIB Fleet Expense 7128. Form 990EZ, Part I, Line 16 Boat Insurance 1923. Form 990EZ, Part I, Line 16 Boat Racks and Storage 1438. Form 990EZ, Part I, Line 16 Charitable Contributions 250. Form 990EZ, Part I, Line 16 Accounting Fees 41. Form 990EZ, Part I, Line 16 Other Expense 103. Form 990EZ, Part I, Line 16 Boat Building 1416. Form 990EZ, Part I, Line 16 High School Sailing Expense 499. Form 990EZ, Part I, Line 16 Paypal 47. Form 990EZ, Part I, Line 16 Property Taxes 525. Form 990EZ, Part I, Line 16 Regatta Expense 2328. Form 990EZ, Part I, Line 16 Travel - Meetings 359. Form 990EZ, Part I, Line 20 This organization was formed in 2002, as a non-profit arm of Form 990EZ, Part I, Line 20 the Beaufort Yacht & Sailing Club. There have been several Form 990EZ, Part I, Line 20 volunteer Treasurers over the ensuing 22 years, including Form 990EZ, Part I, Line 20 three in the past two years. Over the years, boat purchases Form 990EZ, Part I, Line 20 and dispositions have been inconsistently recorded in the Form 990EZ, Part I, Line 20 books, with some expensed and some capitalized. The current Form 990EZ, Part I, Line 20 Treasurer, along with the Office Manager have taken on as a Form 990EZ, Part I, Line 20 project a complete and accurate inventory of the boats owned Form 990EZ, Part I, Line 20 by the Association. Form 990EZ, Part I, Line 20 An attempted reconciliation of the Depreciation Schedule, as Form 990EZ, Part I, Line 20 reflected on the Associations Balance Sheet, with the physical Form 990EZ, Part I, Line 20 inventory disclosed several bookkeeping inconsistencies over Form 990EZ, Part I, Line 20 the years. We found boats listed on the inventory which were Form 990EZ, Part I, Line 20 not on the depreciation schedule. We also encountered boats Form 990EZ, Part I, Line 20 listed on the depreciation schedule which were no longer Form 990EZ, Part I, Line 20 on site to be counted. Form 990EZ, Part I, Line 20 It was determined that the Association should change its Form 990EZ, Part I, Line 20 accounting method to expense the acquisition of its boats Form 990EZ, Part I, Line 20 beginning in 2023, and we removed the fixed assets to accomodate Form 990EZ, Part I, Line 20 the change for years prior to 2023. Form 990EZ, Part I, Line 20 Total adjustment to Net Assets, effective 1/1/23 -36127.