2026-04-08T13:10:17-05:00 2025-11-30 561719839 EARNEY Accountants & Advisors PLLC 700 Military Cutoff Road Suite 250 Wilmington NC 28405 990 2024-12-01 560421616 The Surf Club Incorporated SURF 9102562496 1 Mallard Street Wrightsville Beach NC 28480 Christopher N Reid President 9102562496 2026-04-08 1 0 Eric Bregman CPA P02478458 9102569995 2026-04-08 2024 2025-03-06 01:10:19Z Christopher N Reid 1 Mallard Street Wrightsville Beach NC 28480 11417972 0 X www.surfclubnc.com X 1941 NC Social club 10 10 65 10 1502444 1438587 0 0 1666149 1837600 328466 1412120 1592450 1810233 3587065 5059953 0 0 0 0 1902601 1845812 0 0 0 1274970 1868450 3177571 3714262 409494 1345691 12218669 12770401 427040 511035 11791629 12259366 To provide social, dining, and entertainment activities for its membership. 0 0 3466270 The Club provides meals and dining activities for members and their guests. The Club operates on a seasonal basis from March through December annually. 3466270 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 1 1 1 65 1 1 1 0 0 0 0 393810 319296 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 0 1 1 0 X Stacey Worrell 9102562496 1 Mallard Street Wrightsville Beach NC 28480 Christopher N Reid President 1.00 X X 0 0 0 William W Stanfield Vice President 1.00 X X 0 0 0 Jerry A Mannen Jr Secretary/Treasurer 1.00 X X 0 0 0 John M Tetterton Jr Immediate Past President 1.00 X 0 0 0 Howard A Penton III Director 1.00 X 0 0 0 Raiford Trask III Director 1.00 X 0 0 0 W Chris Ward Director 1.00 X 0 0 0 D Clinton North III Director 1.00 X 0 0 0 David Sprunt Director 1.00 X 0 0 0 Gerald D Hardison Jr Director 1.00 X 0 0 0 Patrick O'Keefe General Manager 50.00 X 40000 0 0 Scott Schwartz Executive Chef 50.00 X 139512 0 0 Stacey Worrell Comptroller 50.00 X 128521 0 6300 Andrew Venables Food & Beverage Manager 50.00 X 128057 0 0 Darrin Darazsdi Club Manager 50.00 X 119807 0 3350 Keith Logar Former General Manager 50.00 X 289104 0 19500 Hiroshi Osono Former Executive Chef 50.00 X 113054 0 5200 958055 0 34350 6 1 1 0 0 Membership dues 900099 1665000 1665000 Miscellaneous income 900099 172600 172600 1837600 224167 224167 6874021 5595744 90324 1278277 -90324 1187953 -90324 1278277 2088374 671951 1416423 1416423 Initation and reinstatement fees 900099 393810 393810 393810 5059953 3557509 1502444 0 1734600 111212 14257 215367 1020 36966 15274 12888 447775 262135 Unrelated business inco 338316 Repairs and maintenance 142848 Utilities 111276 Supplies and laundry 106126 164202 3714262 44710 110352 2531774 2012254 123228 220454 198429 170807 114681 106529 8908062 5195785 3527264 3712277 5678583 6437728 12218669 12770401 383944 172719 43096 338316 427040 511035 X 11791629 12259366 11791629 12259366 12218669 12770401 1345691 -877954 0 X 0 1 X 1 0 8770 8770 5302502 2761621 2540881 2749256 2026385 722871 847534 407779 439755 3712277 302103 State income taxes 36213 338316 X 4853950 -877954 -877954 5731904 -671951 -671951 5059953 4047897 671951 671951 3375946 338316 338316 3714262 Part X, Line 2: The Club is exempt from federal income tax under Section 501(c)(7) of the Internal Revenue Code (the "Code"), but is subject to tax on unrelated business income as defined by the Code, primarily investment income. Accounting principles generally accepted in the United States of America require the Club's management to evaluate tax positions taken by the Club and recognize a tax liability (or asset) if the Club has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service (the "IRS"). The Club has analyzed its tax positions taken and has concluded that as of November 30, 2025, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Club is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The Club believes it is no longer subject to income tax examinations for years prior to 2022. Part XI, Line 4b - Other Adjustments: COGS Part XII, Line 2d - Other Adjustments: COGS Part XII, Line 4b - Other Adjustments: Unrelated business income tax Part X, Line 2: The Club is exempt from federal income tax under Section 501(c)(7) of the Internal Revenue Code (the "Code"), but is subject to tax on unrelated business income as defined by the Code, primarily investment income. Accounting principles generally accepted in the United States of America require the Club's management to evaluate tax positions taken by the Club and recognize a tax liability (or asset) if the Club has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service (the "IRS"). The Club has analyzed its tax positions taken and has concluded that as of November 30, 2025, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Club is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The Club believes it is no longer subject to income tax examinations for years prior to 2022. X 1 1 X 0 0 0 Keith Logar Former General Manager 289104 0 0 0 0 0 19500 0 0 0 308604 0 0 0 Hiroshi Osono Former Executive Chef 113054 0 0 0 0 0 5200 0 0 0 118254 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 membes. Form 990, Part VI, Section A, line 7a The following membership categories have voting rights: full members, junior members, and senior members. Form 990, Part VI, Section A, line 7b The membership must approve constitution changes and the Board must approve bylaws changes. Form 990, Part VI, Section B, line 11b Form 990 is reviewed by the General Manager and Secretary/Treasurer before filing. Form 990, Part VI, Section B, line 12c Each Board member lists business interests to determine if there are any conflicts. Form 990, Part VI, Section B, line 15 The President reviews and evaluates the performance of the General Manager, in conjuction with other Board members, and makes the determination of any wage increases and/or bonuses, based upon specified criteria. Form 990, Part VI, Section C, line 19 Documents are available, upon request, in the Club's office.