2024-11-15T17:22:25-06:00 2023-12-31 770051130 ABBOTT STRINGHAM & LYNCH 1901 S BASCOM AVE STE 105 CAMPBELL CA 95008 990 2023-01-01 941535303 FAIRBRAE SWIM CLUB FAIR 4087393833 696 SHERATON DRIVE SUNNYVALE CA 94087 TOMAS KANDL TREASURER 4087393833 2024-11-15 1 0 SHEBA B DALANEY P00351252 4083778700 2024-11-15 2023 2024-10-15 13:58:12Z ALEX ROMANKO 696 SHERATON DRIVE SUNNYVALE CA 94087 683976 0 X WWW.FAIRBRAE.COM X 1959 CA TO PROVIDE CONVENIENT ACCESS TO FITNESS, SOCIAL AND OTHER RECREATIONAL ACTIVITIES TO MEMBERS OF THE FAIRBRAE NEIGHBORHOOD COMMUNITY. 7 7 44 25 0 0 0 517508 570318 125400 2280 3151 28350 37917 600948 683976 0 0 0 0 202908 211549 0 0 0 337511 419439 540419 630988 60529 52988 628037 923765 14454 31581 613583 892184 TO PROVIDE CONVENIENT ACCESS TO FITNESS, SOCIAL AND OTHER RECREATIONAL ACTIVITIES TO MEMBERS OF THE FAIRBRAE NEIGHBORHOOD COMMUNITY. 0 0 477779 125400 THE CLUB PROVIDES 300 MEMBER FAMILIES WITH A SWIM AND RACQUET CLUB AND ACCESS TO SOCIAL AND COMMUNITY SERVICE EVENTS YEAR-ROUND. ACTIVITIES ALSO INCLUDE AN ORGANIZED SWIM TEAM AND HOSTING SWIM MEETS WITH OTHER LOCAL CLUBS. THE CLUB HOSTED VARIOUS LESSONS AND CLASSES THROUGHOUT THE YEAR INCLUDING SWIM LESSONS, YOGA AND JAZZERCISE. 477779 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 44 0 1 1 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 0 0 0 0 0 0 CA X SUE YACENDA 4087393833 696 SHERATON DRIVE SUNNYVALE CA 94087 X NATE GARDNER PRESIDENT 8.00 X X 0 0 0 JOHN KAUFMANN VICE PRESIDENT 6.00 X X 0 0 0 KEVIN SHEN SECRETARY 6.00 X X 0 0 0 MICHAEL QUINLAN TREASURER 6.00 X X 0 0 0 CASILDA DE BENITO MEMBER AT-LARGE 0.50 X 0 0 0 FREDERICK STORK MEMBER AT-LARGE 0.50 X 0 0 0 DAN GIVOL MEMBER AT-LARGE 0.50 X 0 0 0 0 0 0 0 0 0 0 0 517508 517508 SWIM TEAM 713940 65340 65340 SWIM LESSONS 713940 51114 51114 EXERCISE CLASSES 713940 5436 5436 SOCIAL EVENTS 713940 3510 3510 125400 3151 3151 37917 0 37917 37917 37917 683976 125400 0 41068 196772 96418 100354 14777 7206 7571 29393 29393 18839 18839 15391 15391 237046 237046 17101 17101 35370 35370 SOCIAL EVENTS 48513 48513 SUPPLIES 11780 11780 LICENSES & PERMITS 5506 5506 BANK FEES 500 500 630988 477779 153209 0 26200 376804 341163 20213 23848 15139 0 24219 1034469 594928 236826 439541 40533 0 7316 628037 923765 8928 17239 5526 14342 14454 31581 X 124775 124775 0 0 488808 767409 613583 892184 628037 923765 X 52988 14202 211411 X 1 X 0 0 0 17366 17366 807959 393861 414098 209144 201067 8077 439541 CREDIT CARD 4350 ACCRUED PAYROLL 3749 PAYROLL TAX LIABILITIES 644 SUNN POOL RENTAL DEPOSIT 1000 MEMBER CREDIT 4393 SAVINGS PLAN PAYABLE 206 14342 X PART X, LINE 2: THE CLUB IS EXEMPT FROM INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(7) AND SECTION 23701(G) OF THE CALIFORNIA REVENUE AND TAXATION CODE FOR ACTIVITIES RELATED TO ITS EXEMPT PURPOSE. THE ORGANIZATION IS SUBJECT TO INCOME TAXES ON REVENUE GENERATED FROM OTHER REVENUE SOURCES UNRELATED TO ITS EXEMPT PURPOSE. MANAGEMENT BELIEVES THAT THE CLUB DID NOT HAVE ANY UNRELATED BUSINESS INCOME DURING THE YEAR ENDED DECEMBER 31, 2023. ACCORDINGLY, NO PROVISION OR BENEFIT FOR INCOME TAXES HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ORGANIZATION HAS ADOPTED THE ACCOUNTING STANDARD RELATED TO UNCERTAINTIES IN INCOME TAXES. THE CLUB EVALUATES UNCERTAIN TAX POSITIONS THROUGH ITS REVIEW OF THE SOURCE OF REVENUE AND THE NATURE OF AUXILIARY ACTIVITIES TO IDENTIFY UNRELATED BUSINESS INCOME AND CERTAIN OTHER MATTERS INCLUDING THOSE WHICH MAY AFFECT ITS TAX-EXEMPT STATUS. MANAGEMENT BELIEVES THEIR ESTIMATES RELATED TO UNCERTAIN TAX POSITIONS ARE APPROPRIATE BASED ON CURRENT FACTS AND CIRCUMSTANCES. THE ORGANIZATION IS SUBJECT TO EXAMINATION BY A MAJOR TAX JURISDICTION BACK TO THE 2019 TAXABLE YEAR. THE ORGANIZATION REPORTS ANY TAX-RELATED INTEREST EXPENSE AND PENALTIES AS INCOME TAX EXPENSE. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS DUES PAYING MEMBERS. HOWEVER, THE MEMBERSHIP OF THE ORGANIZATION DOES NOT GRANT ITS MEMBERS AN OWNERSHIP INTEREST FORM 990, PART VI, SECTION A, LINE 7A ANNUAL ELECTION FOR BOARD MEMBERS; 3 SEATS ON ODD YEARS, 4 SEATS ON EVEN YEARS. THE ELECTION TAKES PLACE IN MARCH AND THE NEW BOARD MEMBERS BEGIN IN APRIL. FORM 990, PART VI, SECTION A, LINE 7B ANY CHANGE TO THE BY-LAWS REQUIRES A MAJORITY VOTE OF MINIMUM 75 VOTING MEMBERS. MAJOR FINANCIAL CHANGES REQUIRE 200/300 YES VOTES. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT AND IN-HOUSE ACCOUNTANT WORK TO PROVIDE THE FORM; WE RELY ON AN INDEPENDENT 3RD PARTY CPA FIRM TO HELP COMPLETE THE FORM. BOARD HAS THE FINAL APPROVAL AND SIGN-OFF. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION ALLOWS FOR REVIEW OF ITS TAX RETURNS AND FINANCIAL DATA TO ITS MEMBERS UPON REQUEST, BY APPOINTMENT, DURING THE COURSE OF THE BUSINESS' NORMAL HOURS OF OPERATION. FORM 990, PART XI, LINE 9: ADJUST DEPRECIATION TO GAAP 226,022. BOOK TAX DEPRECIATION DIFFERENCE -14,611.