2025-10-22T08:48:32-05:00 2023-10-31 592840381 PHILLIPS FELDMAN GROUP 801 LAUREL OAK DRIVE SUITE 303 NAPLES FL 341082764 990 2022-11-01 831197109 THE TWINEAGLES CLUB INC TWIN 2393541735 11725 TWINEAGLES BOULEVARD NAPLES FL 34120 TOM LUND TREASURER 2393541735 2025-10-22 1 0 NATHAN A PHILLIPS CPA P00189856 2395661600 2022 2025-03-06 01:10:19Z X TOM LUND 11725 TWINEAGLES BOULEVARD NAPLES FL 34120 20042355 0 X WWW.TWINEAGLES.COM X 2018 FL THE TWINEAGLES CLUB IS A RECREATIONAL CLUB WHOSE EXEMPT PURPOSE IS TO PROMOTE SOCIAL INTERACTIONS OF CLUB MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES. 9 9 213 100 167465 192707 0 0 10817343 12039625 -3684317 219085 5510611 2309169 12643637 14567879 0 0 0 0 3990581 4245797 0 0 0 7184733 9012258 11175314 13258055 1468323 1309824 68960774 75417556 32412930 37511571 36547844 37905985 THE TWIN EAGLES CLUB IS A RECREATIONAL CLUB WHOSE EXEMPT PURPOSE IS TO PROMOTE SOCIAL INTERACTIONS OF CLUB MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES. 0 0 THE CLUB OPERATES TWO 18-HOLE GOLF COURSES (TOTAL OF 36 HOLES). FOR THE YEAR ENDED 10/31/23, 67,428 ROUNDS OF GOLF WERE PLAYED ON THE COURSES, INCLUDING NON-MEMBER "RECIPROCAL" ROUNDS OF 7,997. THE CLUB MAINTAINS A FOOD AND BEVERAGE OPERATION TO PROMOTE ITS MISSION AND ENCOURAGE SOCIAL INTERACTION AMONG 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 68 0 1 213 1 1 1 0 0 0 1 1 5276973 584587 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 MANIVONE DEANGELO CONTROLLER 2393541735 11725 TWIN EAGLES BLVD NAPLES FL 34120 X JOHN IANNUZZI TREASURER 20.00 X X 0 0 0 ELIZABETH DONOVAN PRESIDENT 20.00 X X 0 0 0 BILL GAUDET VICE PRESIDENT 20.00 X X 0 0 0 JIM MOWER SECRETARY 20.00 X X 0 0 0 VINCENT ALBERICO DIRECTOR 20.00 X 0 0 0 NANCY BROWN DIRECTOR 20.00 X 0 0 0 STEVE PAULY DIRECTOR 20.00 X 0 0 0 BARRY MULLEN DIRECTOR 20.00 X 0 0 0 JANET VARTINEN DIRECTOR 20.00 X 0 0 0 DOUG BROWN GENERAL MANAGER 40.00 X 245266 0 15966 MICHAEL CHAFFEE ASSISTANT GM/CFO 40.00 X 180912 0 20562 DARREN GAFFORD DIRECTOR OF AGRONOMY 40.00 X 192042 0 26143 KYAW HTET DIRECTOR OF GOLF 40.00 X 177681 0 5047 JAMES HANYZECKI EXECUTIVE CHEF 40.00 X 108758 0 0 904659 0 67718 5 0 1 0 KNAPP CONSTRUCTION 7935 AIRPORT PULLING ROAD STE 4 B NAPLES FL 34109 OWNERS REPRESENTATIVE 125375 1 MEMBER DUES 713990 9560404 9560404 GREENS & CART FEES 713990 1677446 1677446 GUEST FEES 713990 580467 580467 CLASSES FEES 713990 187308 187308 TRANSFER FEES 713990 34000 34000 12039625 240527 240527 26160 0 26160 26160 26160 56787 78229 -21442 -21442 -21442 2379170 5396247 -3017077 -2944015 -73062 CAPITAL CONTRIBUTIONS 713990 3736098 3736098 INITIATION FEES 713990 1390000 1390000 RESTRICTED CONTRIBUTION - PICKLEB 713990 65000 65000 108988 108988 5300086 14567879 14400414 167465 0 X 504097 2914797 77504 488779 260620 23126 36125 11304 423241 2605192 449150 INCOME TAX EXPENSE 48317 GOLF COURSE MAINTENANCE 1406261 ADMINISTRATIVE AND GENE 977340 TEMPORARY FACILITIES - 950218 2081984 13258055 1500 1500 16445689 14845154 3917278 2695389 302849 494647 321769 397406 59328307 6573878 30753853 52754429 3174913 3229116 14042923 999915 68960774 75417556 4003683 1328161 28409247 36183410 32412930 37511571 X 36547844 37905985 36547844 37905985 68960774 75417556 X 1309824 48317 X 0 1 X 1 0 12500000 12500000 27507588 1931341 25576247 6624331 1748654 4875677 12696388 2893883 9802505 52754429 DEFERRED DUES 9553167 NON-CURRENT CONSTRUCTION LOAN 23297577 CURRENT CONSTRUCTION LOAN 2445197 CURRENT OPERATING LEASE OBLIGATIONS 27285 CURRENT FINANCE LEASE OBLIGATIONS 518354 NON-CURRENT OPERATING LEASE OBLIGATIONS 30220 NON-CURRENT FINANCE LEASE OBLIGATIONS 311610 36183410 X 19985568 5417689 5417689 14567879 0 14567879 18627427 5417689 5417689 13209738 48317 48317 13258055 PART X, LINE 2: THE CLUB HAS EVALUATED ITS TAX POSITIONS AND CONCLUDED THAT THE CLUB HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAX TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 5,396,247. LOSS ON DISPOSAL 21,442. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 5,396,247. LOSS ON DISPOSAL 21,442. PART XII, LINE 4B - OTHER ADJUSTMENTS: UNRELATED BUSINESS INCOME TAX EXPENSE 48,317. X X X 0 0 0 DOUG BROWN GENERAL MANAGER 219887 0 25379 0 0 0 15966 0 0 0 261232 0 0 0 DARREN GAFFORD DIRECTOR OF AGRONOMY 176468 0 15574 0 0 0 26143 0 0 0 218185 0 0 0 MICHAEL CHAFFEE ASSISTANT GM/CFO 169915 0 10997 0 0 0 20562 0 0 0 201474 0 0 0 KYAW HTET DIRECTOR OF GOLF 166557 0 11124 0 0 0 5047 0 0 0 182728 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CLUB IS A PRIVATE MEMBER-OWNED CLUB THAT IS OWNED AND OPERATED FOR THE PLEASURE AND RECREATION OF ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A CLUB MEMBERS HAVE RIGHTS TO ELECT AND APPOINT MEMBERS OF THE GOVERNING BODY. THE BOARD OF DIRECTORS HAS THE AUTHORITY TO CREATE COMMITTEES AS DEEMED NECESSARY. GOLF, SPORT, AND SOCIAL MEMBERS CAN ELECT OFFICERS AND DIRECTORS BY VOTING RIGHTS SPLIT ON 10/4/3 PRORATION. FORM 990, PART VI, SECTION A, LINE 7B THE BYLAWS REQUIRE CERTAIN DECISIONS TO BE APPROVED BY A VOTE OF THE MEMBERSHIP, SUCH AS: AMENDMENTS TO THE GOVERNING DOCUMENTS, AND SPECIAL CAPITAL ASSESSMENTS GREATER THAN $500,000. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE TAX RETURN IS REVIEWED WITH THE CPA FIRM PREPARING THE RETURN. ADDITIONALLY, THE GOVERNING BOARD DELEGATES THE REVIEW OF THE FORM 990 AND THE RELATED SCHEDULES TO THE CFO, GENERAL MANAGER, TREASURER, AND PRESIDENT. THE RETURN IS PROVIDED TO THE FINANCE COMMITTEE AND BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS MONITORED AT THE BOARD LEVEL. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS PARTICIPATES AND OVERSEES THE HIRING OF THE GENERAL MANAGER AND OTHER TOP MANAGERS OF THE CLUB. THE CLUB RELIES ON REVIEW OF VARIOUS INDUSTRY SPECIFIC COMPARATIVE SALARY AND WAGE STUDIES TO ENSURE THAT TOTAL COMPENSATION PACKAGES OFFERED TO THE GENERAL MANAGER AND OTHER TOP MANAGERS ARE COMPETITIVE AND IN-LINE WITH INDUSTRY AVERAGES. THE EXECUTIVE COMMITTEE (PRESIDENT, VICE PRESIDENT, TREASURER, AND SECRETARY) REVIEWS GENERAL MANAGER SEMI-ANNUALLY, AND DETERMINES ANY BONUSES ANNUALLY FOR THE PREVIOUS YEAR AND ANY COMPENSATION ADJUSTMENTS FOR THE UPCOMING YEAR. THE GENERAL MANAGER REVIEWS THE CFO ANNUALLY AND PROVIDES A RECOMMENDATION FOR BONUS EARNED AND ANY COMPENSATION ADJUSTMENTS TO THE PRESIDENT FOR APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF THE CLUB'S GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE CLUB'S WEBSITE AND UPON REQUEST. FORM 990, PART IX, LINE 24E GOLF CARTS, PRO SHOP, LOCKER ROOM 634,367. BUILDING MAINTENANCE 469,655. FITNESS AND OTHER 384,931. FOOD & BEVERAGE 376,970. REAL ESTATE TAXES 216,061. FORM 990 PART IX LINE 24E FORM 990 WAS AMENDED TO INCLUDE THE UNRELATED BUSINESS INCOME TAX EXPENSES INCURRED DURING THE 10/31/2023 TAX YEAR. DUE TO THIS CHANGE, THE STATEMENT OF FUNCTIONAL EXPENSES LINE 24E - ALL OTHER EXPENSES - INCREASED BY $48,317. FORM 990 PART XI LINE 9 FORM 990 WAS AMENDED TO INCLUDE THE UNRELATED BUSINESS INCOME TAX EXPENSES INCURRED DURING THE 10/31/2023 TAX YEAR. DUE TO THIS CHANGE, THE RECONCILIATION OF NET ASSETS LINE 9 - OTHER CHANGES IN NET ASSETS OR FUND BALANCES - INCREASED BY $48,317.