A "payment" is taxable income to the recipient no matter what. Excessive payment is a totally different ballgame. Excessive payment rules and penalties exist so board members and others will be discouraged from raiding the piggybank of a social club. But now that you have already paid someone here are things to consider:
did I seriously overpay and do so with the intention of providing "excessive benefit"?
did I pay an individual or a company? If I paid an individual, what about paying the withholdings (income tax, SS, unemployment ins, and disability insurance?) If you pay a company, you can assume they handled those things. If you pay an individual - you must take care of that stuff or at least issue a 1099 at the end of the year.
Either way, the 501c7 status goes up for grabs.