2024-10-17T10:59:07-05:00 2023-12-31 950858589 HUTCHINSON AND BLOODGOOD LLP 550 N BRAND BLVD 14TH FLOOR GLENDALE CA 91203 990 2023-01-01 952112652 LONG BEACH YACHT CLUB LONG 5625989401 6201 APPIAN WAY LONG BEACH CA 90803 SCOTT MEYER TREASURER 5625989401 2024-10-17 1 0 MARK J HENNELLY P00982999 8186375000 2023 2024-10-15 13:58:12Z CATHERINE VANDENBERG 6201 APPIAN WAY LONG BEACH CA 90803 10781236 0 X WWW.LBYC.ORG X 1929 CA RECREATION, PLEASURE AND OTHER NONPROFITABLE PURPOSES FOR THE BENEFIT OF ITS MEMBERS. 17 17 137 0 268634 145485 0 0 5465907 5998356 117383 178172 -242092 -60270 5341198 6116258 0 0 0 0 1975767 2220282 0 0 0 3140353 3002089 5116120 5222371 225078 893887 10923642 12072310 1314860 1245342 9608782 10826968 RECREATION, PLEASURE AND OTHER NONPROFITABLE PURPOSES FOR THE BENEFIT OF ITS MEMBERS. 0 0 THE LONG BEACH YACHT CLUB HOSTED YACHTING EVENTS, SPONSORED THE CONGRESSIONAL CUP, AND VARIOUS YOUTH ACTIVITIES FOR THE PLEASURE, RECREATION, AND SOCIAL BENEFIT OF ITS MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 1 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 83 0 137 1 1 1 0 0 0 1 1 408321 955163 0 0 0 X 17 17 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X MARCIA PETTWAY 5625989401 6201 APPIAN WAY LONG BEACH CA 90803 X BLAIR CARTY COMMODORE 4.00 X X 0 0 0 SCOTT DIXON VICE COMMODORE 4.00 X X 0 0 0 LISA MEIER REAR COMMODORE 4.00 X X 0 0 0 BOB PIERCY FLEET CAPTAIN 4.00 X X 0 0 0 GREG MAGNUSON PORT CAPTAIN 4.00 X X 0 0 0 JON TURIGLIATTO JR. STAFF COMM 4.00 X 0 0 0 MIKE GEHRING DIRECTOR 4.00 X 0 0 0 LIZ PALMER DIRECTOR 4.00 X 0 0 0 SCOTT MEYER DIRECTOR 4.00 X 0 0 0 TONY MANSOUR DIRECTOR 4.00 X 0 0 0 BOB SNOW DIRECTOR 4.00 X 0 0 0 RANDY BEERS DIRECTOR 4.00 X 0 0 0 JOE SEIBERT DIRECTOR 4.00 X 0 0 0 KELLIE WOODWORTH DIRECTOR 4.00 X 0 0 0 TOM CAMP DIRECTOR 4.00 X 0 0 0 ALEXANDRA WEISS DIRECTOR 4.00 X 0 0 0 CHRIS MACY DIRECTOR 4.00 X 0 0 0 MICHELE BLACKMORE SECRETARY 4.00 X 0 0 0 CATHERINE VANDENBERG TREASURER 4.00 X 0 0 0 NORMAN CRAIG RICH GENERAL MANAGER 40.00 X 287357 0 37160 MATHEW WILLISTON SOUS CHEF 40.00 X 110589 0 15543 MARCIA PETTWAY CONTROLLER 40.00 X 176246 0 13346 KENNETH HASELWOOD EXECUTIVE CHEF 40.00 X 150696 0 19070 STUART CAMERON MACLAREN YACHTING DIRECTOR 40.00 X 110985 0 17138 STEVE FELIX ASSISTANT GENERAL MANAGER 40.00 X 108102 0 19680 943975 0 121937 6 0 1 0 0 MEMBERSHIP DUES 713910 4425576 4425576 CAPITAL DUES 713910 587500 587500 INITIATION FEES 713910 408321 408321 OTHER PROGRAMS 713910 405359 396303 9056 CONGRESSIONAL CUP 713910 123450 44450 79000 48150 48150 5998356 190855 190855 12683 -12683 -12683 -12683 4592025 4652295 -60270 -49993 -10277 6116258 5847624 268634 0 X 324517 1400306 21812 343158 130489 366767 179031 FLAG OFFICERS' PROGRAM 374174 REGATTA EXPENSE 326383 F&B OPERATING EXPENSE 284373 BUILDING AND MAINTENANC 246659 1224702 5222371 393969 397563 591871 684090 219537 215413 125283 86299 6952151 4023164 2453626 2928987 0 7139356 7759958 10923642 12072310 965060 989258 349800 256084 1314860 1245342 X 9608782 10826968 9608782 10826968 10923642 12072310 893887 324299 0 X 0 1 X 1 0 2992299 1928137 1064162 163930 128737 35193 3357172 1966061 1391111 438750 229 438521 2928987 BOARD DESIGNATED CASH 3767142 BOARD DESIGNATED MARKETABLE SECURITIES 2809668 LEASE & LONG DOCK 902282 OTHER ASSETS 35479 BOARD DESIGNATED INITIATION FEES RECEIVA 18443 OPERATING LEASE RIGHT-OF-USE ASSET 226944 7759958 CLUB TREASURIES 29140 OPERATING LEASE OBLIGATION 226944 256084 X 11078563 324299 4652295 4976594 6101969 14289 14289 6116258 9860377 4652295 4652295 5208082 14289 14289 5222371 PART X, LINE 2: THE CLUB IS EXEMPT FROM FEDERAL AND STATE TAXES RELATED TO REVENUE RECEIVED IN CONNECTION WITH EXEMPT PROGRAMS, UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE (IRC) AND SECTION 23701(G) OF THE CALIFORNIA REVENUE AND TAXATION CODE, RESPECTIVELY. THE CLUB IS SUBJECT TO ASSESSMENT OF INCOME TAXES ON WHAT IS TERMED UNRELATED BUSINESS INCOME. THE CLUB CAN GENERATE UP TO 15% OF REVENUE, AS DEFINED IN THE IRC, FROM NON-MEMBER SOURCES. THE CLUB POLICY IS TO MONITOR AND TRACK NON-MEMBER REVENUES TO ENSURE THE CLUB COMPLIES WITH SECTION 501(C)(7) OF THE IRC. IN ADDITION, THE CLUB IS SUBJECT TO TAXATION ON INVESTMENT INCOME. ACCORDINGLY, A PROVISION FOR INCOME TAXES HAS BEEN ESTABLISHED IN THE FINANCIAL STATEMENTS. FOR FINANCIAL STATEMENT REPORTING PURPOSES, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. AS OF DECEMBER 31, 2023, THE CLUB HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. AS OF DECEMBER 31, 2023, THE CLUB'S ANNUAL TAX FILINGS FOR THE PRIOR THREE (3) YEARS ARE OPEN FOR AUDIT BY THE INTERNAL REVENUE SERVICE AND FOR THE PRIOR FOUR (4) YEARS BY THE FRANCHISE TAX BOARD. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 4,652,295. PART XI, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT EXPENSE NETTED ON F/S 14,289. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 4,652,295. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT EXPENSE 14,289. X X X 0 0 0 NORMAN CRAIG RICH GENERAL MANAGER 281071 0 0 0 6286 0 5669 0 31491 0 324517 0 0 0 MARCIA PETTWAY CONTROLLER 160770 0 15476 0 0 0 0 0 13346 0 189592 0 0 0 KENNETH HASELWOOD EXECUTIVE CHEF 141789 0 8907 0 0 0 1250 0 17820 0 169766 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 LINE 6 EXPLANATION - LONG BEACH YACHT CLUB HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A LINE 7A EXPLANATION - LONG BEACH YACHT CLUB HAS MEMBERS THAT ELECT MEMBERS OF THE BOARD OF DIRECTORS ANNUALLY. FORM 990, PART VI, SECTION A, LINE 7B LINE 7B EXPLANATION - AT THE ANNUAL MEETING OF THE MEMBERSHIP, THE MEMBERS OF THE CLUB APPROVE ANY CHANGES TO THE ORGANIZATION'S BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B LINE 11B EXPLANATION - THE AUDIT COMMITTEE AND TREASURER REVIEW FORM 990 AND 990-T PRIOR TO THE SIGNING AND FILING OF THE TAX RETURN. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO READ THE POLICY AND SIGN A FORM AFFIRIMING COMPLIANCE WITH POLICY AND REPORT TO AUDIT COMMITTEE ANY POSSIBLE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 PAYROLL FOR EMPLOYEES ARE DETERMINED BY SPEFICIC UNION RATES AS AGREED UPON IN THE UNION CONTRACTS. HOWEVER, THERE ARE CASES WHEREIN PAY RATES ARE HIGHER BASED ON THE RECOMMENDATION OF THE DEPARTMENTAL MANAGERS AND APPROVED BY THE GENERAL MANAGER. THE GENERAL MANAGER'S COMPENSATION IS REVIEWED AND APPROVED BY THE THE BOARD OF DIECTORS AND A COMPENSATION COMMITTEE APPOINTED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS MADE AVAILABLE TO MEMBERSHIP VIA WEBSITE AND UPON REQUEST FOR VALID PURPOSE. THE ORGANIZATION DOES NOT MAKE SUCH DOCUMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 24E REPAIR & MAINTENANCE 218,055. UTILITIES 166,223. SUPPLIES 146,840. PROFESSIONAL FEES 135,262. SPONSORSHIP EXPENSE 116,881. WATERFRONT OPERATIONS 94,471. YOUTH PROGRAMS OPERATING EXPEN 56,211. WEBSITE 50,752. INCOME TAX 45,409. A&G OPERATING EXPENSES 43,344. JUNIOR SAILING OPERATING EXPEN 39,348. PROPERTY TAX 36,598. EQUIPMENT RENTAL 36,286. INVESTMENT EXPENSE 14,289. POOL OPERATING EXPENSE 12,915. BAD DEBTS 9,025. SWIM TEAM OPERATING EXPENSE 1,449. SHIP STORE OPERATING EXPENSE 1,344.