TY 2021 Form 990EZ

Part ⅢStatement of Program Service Accomplishments (see the instructions for Part III) Check if the organization used Schedule O to respond to any question in this Part III . .	Expenses (Required for section 501(c)(3) and 501(c)(4) organizations; optional for others.)
What is the organization's primary exempt purpose? The Club is founded to provide sailing and other nautical opportunities, related educational opportunities, and recreational opportunities on the North American Great Lakes and/or on the world's oceans, for and among its Members, as specified herein, including the following specific activities and manners: a. Procurement of a sixty-foot (60-ft.), double-masted schooner, or similar to serve as a recreational sailing vessel (the "Vessel") upon which Members will have personal contact and an ability to commingle, and which will serve as gathering location to further promote the aforementioned fellowship amongst the Members; b. Institution of academic and practical sailing courses to assist in enhancement of Members' skills while also providing and environment and opportunities camaraderie in learning new topics and experiencing new activities intrinsic to sailing; AND c. Establishment of exclusive media for comfortable communication among the Members in furtherance of the foregoing.
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. In a clear and concise manner, describe the services provided, the number of persons benefited, and other relevant information for each program title.
28 This was Year 1. The Club successfully organized in 2020 and early 2021. The Club enacted its initial set of by-laws and Operating Agreement, filed its Articles of Incorporation with the State of Illinois, procured its EIN, established banking with U.S. Bank, began correspondence with the Illinois Attorney General's Charitable Trust Division, began researching and viewing suitable clubhouses, and continued its routine meetings among its members. (Grants $ 0) If this amount includes foreign grants, check here ...			28a	257
29 (Grants $ ) If this amount includes foreign grants, check here ...			29a
30 (Grants $ ) If this amount includes foreign grants, check here ...			30a
31 Other program services (describe in Schedule O) ................ (Grants $ ) If this amount includes foreign grants, check here...	31a
32 Total program service expenses (add lines 28a through 31a)..........	32	257

(a) Name and title	(b) Average hours per week devoted to position	(c) Reportable compensation (Forms W-2/1099-MISC) (if not paid, enter -0-)	(d) Health benefits, contributions to employee benefit plans, and deferred compensation	(e) Estimated amount of other compensation
Thomas V Leverso ESQ KM Club President	5	0	0	0
Romuald J Poplawski KM Club Treasurer	1	0	0	0
Mark C Nabong ESQ KM Club Secretary	1	0	0	0

(a) Name and title

(b) Average
hours per week
devoted to position

(c) Reportable compensation
(Forms W-2/1099-MISC) (if not paid, enter -0-)

(d) Health benefits, contributions to employee benefit plans, and
deferred compensation

(e) Estimated amount
of other compensation

Thomas V Leverso ESQ KM

Club President

Romuald J Poplawski KM

Club Treasurer

Mark C Nabong ESQ KM

Club Secretary

Yes

Did the organization engage in lobbying activities or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part II .......................

Is the organization a school as described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E ..

49a

Did the organization make any transfers to an exempt non-charitable related organization?......

49a

If "Yes," was the related organization a section 527 organization?................

49b

Complete this table for the organization's five highest compensated employees (other than officers, directors, trustees and key employees) who each received more than $100,000 of compensation from the organization. If there is none, enter "None."

(a) Name and title of each employee	(b) Average hours per week devoted to position	(c) Reportable compensation (Forms W-2/1099-MISC)	(d) Health benefits, contributions to employee benefit plans, and deferred compensation	(e) Estimated amount of other compensation

Total number of other employees paid over $100,000 ............. bullet

Complete this table for the organization's five highest compensated independent contractors who each received more than $100,000 of compensation from the organization. If there is none, enter "None."

(a) Name and business address of each independent contractor	(b) Type of service	(c) Compensation

Return Reference	Explanation
Form 990-EZ, Part I, Line 8	Description;Amount^Incorporators paid incoporation Fee with the IL Sec of State on 12 2 2020;50\|Incorporators advanced money for software costs and domain registration;200^Total;250^
Form 990-EZ, Part I, Line 16	Regarding Page 1, lines 8 and 16, this is the same $257.00 for incorporation fees of $50.00, $7.00 in annual dues, and $200.00 for software and web domain registration.
Form 990-EZ, Part II, Line 24	This is the same $50.00 annual incorporation fee described in Lines 9 and 16.
Form 990-EZ, Part II, Line 26	This is the same $257.00 described in Lines 9 and 16, which again, are the $50.00 incorporation fee paid to the IL Sec. of State, the $7.00 in membership dues paid, and the $200.00 in software and web domain costs.
Form 990-EZ, Part V, Line 34	The Club was organized and incorporated in late 2020. The Club enacted its initial set of by-laws and Operating Agreement, filed its initial Articles of Incorporation with the State of Illinois, procured its EIN, and began correspondence with the Illinois Attorney General's Charitable Trust Division.

Return Reference

Explanation

Form 990-EZ, Part I, Line 8

Description;Amount^Incorporators paid incoporation Fee with the IL Sec of State on 12 2 2020;50|Incorporators advanced money for software costs and domain registration;200^Total;250^

Form 990-EZ, Part I, Line 16

Regarding Page 1, lines 8 and 16, this is the same $257.00 for incorporation fees of $50.00, $7.00 in annual dues, and $200.00 for software and web domain registration.

Form 990-EZ, Part II, Line 24

This is the same $50.00 annual incorporation fee described in Lines 9 and 16.

Form 990-EZ, Part II, Line 26

This is the same $257.00 described in Lines 9 and 16, which again, are the $50.00 incorporation fee paid to the IL Sec. of State, the $7.00 in membership dues paid, and the $200.00 in software and web domain costs.

Form 990-EZ, Part V, Line 34

The Club was organized and incorporated in late 2020. The Club enacted its initial set of by-laws and Operating Agreement, filed its initial Articles of Incorporation with the State of Illinois, procured its EIN, and began correspondence with the Illinois Attorney General's Charitable Trust Division.

1	Contributions, gifts, grants, and similar amounts received ....................	1	0
2	Program service revenue including government fees and contracts ................	2	0
3	Membership dues and assessments .............................	3	7
4	Investment income ....................................	4	0
5a	Gross amount from sale of assets other than inventory .......	5a	0
b	Less: cost or other basis and sales expenses ............	5b	0
c	Gain or (loss) from sale of assets other than inventory (Subtract line 5b from line 5a) ......	5c	0
6	Gaming and fundraising events
a	Gross income from gaming (attach Schedule G if greater than $15,000)	6a	0
b	Gross income from fundraising events (not including $ 0 of contributions from fundraising events reported on line 1) (attach Schedule G if the			sum of such gross income and contributions exceeds $15,000) ..	6b	0
c	Less: direct expenses from gaming and fundraising events ...	6c	0
d	Net income or (loss) from gaming and fundraising events (add lines 6a and 6b and subtract line 6c)	6d	0
7a	Gross sales of inventory, less returns and allowances ......	7a	0
b	Less: cost of goods sold .............	7b	0
c	Gross profit or (loss) from sales of inventory (Subtract line 7b from line 7a) .........	7c	0
8	Other revenue (describe in Schedule O) ....................	8	250
9	Total revenue. Add lines 1, 2, 3, 4, 5c, 6d, 7c, and 8 ..............	9	257

10	Grants and similar amounts paid (list in Schedule O) ................	10	0
11	Benefits paid to or for members ......................	11	0
12	Salaries, other compensation, and employee benefits ................	12	0
13	Professional fees and other payments to independent contractors ............	13	0
14	Occupancy, rent, utilities, and maintenance ...................	14	0
15	Printing, publications, postage, and shipping ...................	15	0
16	Other expenses (describe in Schedule O) ...................	16	257
17	Total expenses. Add lines 10 through 16 .................	17	257

18	Excess or (deficit) for the year (Subtract line 17 from line 9) ............	18	0
19	Net assets or fund balances at beginning of year (from line 27, column (A)) (must agree with
	end-of-year figure reported on prior year’s return) .................	19	0
20	Other changes in net assets or fund balances (explain in Schedule O) ...........	20	0
21	Net assets or fund balances at end of year. Combine lines 18 through 20 ..........	21	0

Sign Here

	Signature of officer	Date

	Type or print name and title

Software ID:	21013178
Software Version:	v1.00