2024-01-16T12:38:17-06:00 2023-02-28 341912961 COHEN & COMPANY LTD OFFICES LISTED AT WWWCOHENCPACOM OH 44115 990 2022-03-01 380612810 THE GROSSE POINTE CLUB GROS 3138850400 6 BERKSHIRE PLACE GROSSE POINTE FARMS MI 48236 JOHN FAUSTER CHAIRMAN 3138850400 2024-01-15 1 JOHN FAUSTER 999009999 1 PARGAT SINGH P02184330 8002291099 2024-01-15 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JOHN FAUSTER 6 BERKSHIRE PLACE GROSSE POINTE FARMS MI 48236 2362434 0 X WWW.GPCLUB.ORG X 1911 MI SOCIAL CLUB 14 14 97 0 181026 32620 429292 63839 2166191 1567634 0 0 75732 463772 2671215 2095245 0 0 0 0 973027 1178531 0 0 0 1269805 1089318 2242832 2267849 428383 -172604 2491519 2720007 400775 801867 2090744 1918140 PROVIDE PLEASURE, RECREATION AND SOCIAL OPPORTUNITIES TO THE MEMBERS OF THE GROSSE POINTE CLUB. 0 0 PROVIDE PLEASURE, RECREATION, AND SOCIAL OPPORTUNITIES TO AN AVERAGE OF 239 MEMBERS AT THE GROSSE POINTE CLUB. 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 12 0 97 1 1 1 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 1 0 0 MI X MICHAEL PALAZZOLO 3138850400 6 BERKSHIRE PLACE GROSSE POINTE FARMS MI 48236 X MR JOHN FAUSTER IV CHAIRMAN 1.00 X X 0 0 0 MR JON COLMAN VICE CHAIRMAN 1.00 X X 0 0 0 MRS NANCY FOLLETT SECRETARY 1.00 X X 0 0 0 MRS SCOTTIE KNIGHT TREASURER 1.00 X X 0 0 0 MR BRIAN ELLISON GOVERNOR 1.00 X 0 0 0 MR DANIEL SMALE GOVERNOR 1.00 X 0 0 0 MR GREG CORBETT GOVERNOR 1.00 X 0 0 0 MR JAMES CANDLER JR GOVERNOR 1.00 X 0 0 0 MR JAMES VAN DYKE GOVERNOR 1.00 X 0 0 0 MR JOHN OTTAWAY III GOVERNOR 1.00 X 0 0 0 MR PATRICK HOPPER GOVERNOR 1.00 X 0 0 0 MR WARD DETWILER GOVERNOR 1.00 X 0 0 0 MRS ANNE MILLIGAN GOVERNOR 1.00 X 0 0 0 MRS MARY BETH NICHOLSON GOVERNOR 1.00 X 0 0 0 JON MATWAY GENERAL MANAGER 40.00 X 123692 0 8399 123692 0 8399 1 0 0 0 0 63839 63839 DUES-FOR MEMBER BENEFI 900099 1286596 1286596 DOCK RENT 531190 170804 170804 INITIATION FEES 900099 56500 56500 MISCELLANEOUS INCOME 713910 53734 53734 1567634 33620 0 33620 33620 33620 697341 267189 430152 282746 147406 2095245 1850380 181026 0 132091 834092 27140 84626 100582 23000 104737 13644 222039 410701 7503 9988 191743 66360 MEALS & ENTERTAINMENT 32923 FEDERAL INCOME TAX 6680 2267849 143886 36415 100585 103017 48292 54054 86172 93036 6262126 3828641 2112584 2433485 2491519 2720007 123955 133901 43228 96416 233592 571550 400775 801867 X 2090744 1918140 2090744 1918140 2491519 2720007 -172604 0 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 95060 95060 4935743 3073526 1862217 365892 265528 100364 865431 489587 375844 2433485 X 2362434 267189 267189 2095245 0 2095245 2535038 267189 267189 2267849 0 2267849 PART X, LINE 2: THE CLUB IS A NOT-FOR-PROFIT CORPORATION EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. THE CLUB IS, HOWEVER, SUBJECT TO TAX ON ITS UNRELATED BUSINESS TAXABLE INCOME (UBTI), WHICH CONSISTS OF FOOD AND BEVERAGE SALES TO NON-MEMBERS AND RENTAL INCOME. UNUSED NET OPERATING LOSSES (NOL) OF APPROXIMATELY $1,815,000 AS OF FEBRUARY 28, 2023, ARE AVAILABLE TO OFFSET ANY UBTI LIABILITY. THE NOL'S EXPIRE IN VARIOUS YEARS THROUGH 2040. DEFERRED TAX ASSETS RESULTING FROM THE NOL'S OF APPROXIMATELY $381,000 AS OF FEBRUARY 28, 2023, ARE FULLY RESERVED BY A VALUATION ALLOWANCE DUE TO MANAGEMENT'S BELIEF THAT THE LOSSES WILL NOT BE UTILIZED. THE VALUATION ALLOWANCE INCREASED BY $152,000 FOR THE YEAR ENDED FEBRUARY 28, 2023. THE CLUB ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH GAAP, WHICH REQUIRES RECOGNITION OF AND DISCLOSURE RELATED TO UNCERTAIN TAX POSITIONS. AS OF AND DURING THE YEAR ENDED FEBRUARY 28, 2023, THE CLUB DID NOT HAVE A LIABILITY FOR UNRECOGNIZED TAX BENEFITS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COGS NETTED WITH REVENUE 267,189. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS NETTED WITH REVENUE 267,189. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE GROSSE POINTE CLUB ELECT THE BOARD OF GOVERNORS ANNUALLY. FORM 990, PART VI, SECTION A, LINE 8B NO COMMITTEES ARE ORGANIZED SEPARATE FROM THE GOVERNING BODY, WHICH IS THE BOARD OF GOVERNORS. FORM 990, PART VI, SECTION B, LINE 11B REVIEWED BY CHAIRMAN. FORM 990, PART VI, SECTION B, LINE 15A THE GENERAL MANAGER IS THE ONLY EMPLOYEE THAT IS A TOP MANAGEMENT OFFICIAL. THE GENERAL MANAGER'S COMPENSATION PACKAGE IS DETERMINED BY THE BOARD OF GOVERNORS AND REVIEWED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING AND FINANCIAL DOCUMENTS ARE AVAILABLE TO MEMBERS AT THE ANNUAL MEETING. THE INFORMATION IS ALSO AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR