FORM 990, PART VI, SECTION A, LINE 6 |
ARTICLE III - MEMBERSHIP 3.0 GENERAL PROVISIONS 3.01 MEMBERS. MEMBERS OF THE CLUB SHALL BE DIVIDED INTO FOUR (4) GENERAL CLASSES: REGULAR, LIFE, LIMITED AND SENIOR, AND SUCH SUBCLASSES AS ARE PROVIDED FOR IN THESE BYLAWS. MEMBERS SHALL HAVE THE PRIVILEGES AND OBLIGATIONS AS SET FORTH IN THESE BYLAWS AND CLUB RULES. THE TOTAL NUMBER OF ALL ACTIVE MEMBERSHIPS SHALL BE AS DETERMINED AND PUBLISHED ANNUALLY BY THE BOARD OF DIRECTORS. EACH MEMBER SHALL BE AT LEAST 21 YEARS OF AGE. IN THE CASE OF A MARRIED COUPLE UNLESS BOTH SPOUSES ARE MEMBERS, ONLY ONE SPOUSE WILL BE DEEMED TO BE THE MEMBER AS DESIGNATED ON THE ORIGINAL MEMBERSHIP PROPOSAL OR MEMBERSHIP ACKNOWLEDGMENT. |
FORM 990, PART VI, SECTION A, LINE 7A |
ARTICLE III - MEMBERSHIP 3.1 CLASSIFICATIONS 3.11 REGULAR MEMBER. A REGULAR ACTIVE MEMBER HAS THE RIGHT TO VOTE, TO HOLD OFFICE, AND TO A PROPRIETARY INTEREST IN THE ASSETS OF THE CLUB UPON PAYMENT OF THE TOTAL INITIATION FEE. 3.12 LIFE MEMBER. A LIFE MEMBER HAS THE RIGHT TO A PROPRIETARY INTEREST IN THE ASSETS OF THE CLUB, BUT DOES NOT INCLUDE THE RIGHT TO HOLD OFFICE OR TO VOTE EXCEPT ON AMENDMENTS TO THE ARTICLES OF INCORPORATION. LIFE MEMBERSHIP, A CLOSED CATEGORY, SHALL ENTITLE THE MEMBER AND HIS IMMEDIATE FAMILY TO THE USE OF ALL CLUB FACILITIES. LIFE MEMBERSHIP SHALL NOT BE SUBJECT TO ANY INCREASE OF MONTHLY DUES OR SUBJECT TO ASSESSMENTS FOR CONSTRUCTION OF CLUB FACILITIES UNLESS OTHERWISE VOTED BY A MAJORITY OF THE LIFE MEMBERS. 3.13 LIMITED MEMBERSHIP DOES NOT INCLUDE THE RIGHT TO A PROPRIETARY INTEREST IN THE ASSETS OF THE CLUB OR TO VOTE OR TO HOLD OFFICE. THE BOARD OF DIRECTORS HAS THE AUTHORITY TO ESTABLISH CAPS IN ANY OF THE FOLLOWING SUBCLASSES. 3.14 SENIOR MEMBERSHIP. SENIOR MEMBERSHIP MAY BE GRANTED TO ANY REGULAR FULL OR REGULAR SINGLE MEMBER WHO HAS ATTAINED THE AGE OF 65 YEARS OF AGE AND HAS BEEN A MEMBER OF THE CLUB FOR TWENTY (20) CONTINUOUS YEARS OR MORE. A SENIOR MEMBER HAS THE RIGHT TO A PROPRIETARY INTEREST IN THE ASSETS OF THE CLUB BUT DOES NOT HAVE THE RIGHT TO HOLD OFFICE OR TO VOTE. SENIOR MEMBERSHIP SHALL ENTITLE THE MEMBER AND HIS/HER IMMEDIATE FAMILY TO USE ALL THE CLUB FACILITIES EXCEPT THAT THE GOLF PRIVILEGES FOR THIS CATEGORY SHALL BE AS SPECIFIED IN THE GOLF RULES. SENIOR MEMBERSHIP SHALL NOT BE SUBJECT TO ANY ASSESSMENTS FOR CONSTRUCTION OF CLUB FACILITIES, BUT SHALL BE SUBJECT TO OPERATIONAL ASSESSMENTS. NO ELIGIBLE MEMBER MAY BE ADMITTED TO THIS CATEGORY IF SUCH MEMBER'S ADMISSION WOULD CAUSE THE TOTAL NUMBER OF SENIOR MEMBERS TO EXCEED FIVE PERCENT (5%) OF ACTIVE MEMBERSHIPS. ARTICLE X - MEMBERSHIP MEETINGS 10.0 ANNUAL MEMBER MEETING. THE ANNUAL MEETING SHALL BE HELD AT THE CLUB AT A TIME AND PLACE DESIGNATED IN THE NOTICE SENT OUT AT LEAST TEN (10) DAYS PRIOR TO SUCH MEETING. TEN PERCENT (10%) OF THE MEMBERS ENTITLED TO VOTE AND IN ATTENDANCE SHALL CONSTITUTE A QUORUM. THE AFFIRMATIVE VOTE OF THE MAJORITY REPRESENTED AT THE MEETING AND ENTITLED TO VOTE ON THE SUBJECT MATTER SHALL BE THE ACT OF THE CLUB,EXCEPT AS OTHERWISE PROVIDED BY LAW, BY THE ARTICLES OF INCORPORATION, OR BYLAWS OF THE CLUB. |
FORM 990, PART VI, SECTION A, LINE 7B |
ARTICLE XVI - INTERPRETATION 16.0 THE INTERPRETATION OF THESE BYLAWS SHALL REST WITH THE BOARD UNLESS AND UNTIL SUPERSEDED BY A TWO-THIRDS MAJORITY VOTE OF A QUORUM OF MEMBERS AT A REGULAR OR SPECIAL MEMBERSHIP MEETING. ARTICLE XVII - LIQUIDATION. 17.0 DISSOLUTION. A SALE OR DISPOSITION OF SUBSTANTIALLY ALL OF THE PROPERTY AND ASSETS OF THE CLUB OR THE DISSOLUTION OF THE CLUB SHALL REQUIRE THE AFFIRMATIVE VOTE OF TWO-THIRDS OF THE ELIGIBLE VOTING MEMBERS. 17.1 PROCEDURES. UPON A DISSOLUTION AND LIQUIDATION OF THE CLUB FOR ANY REASON, THE BOARD SHALL CAUSE THE CLUBS INDEPENDENT ACCOUNTANTS TO MAKE A FULL AND PROPER ACCOUNTING OF THE ASSETS, LIABILITIES AND OPERATIONS OF THE CLUB, AS OF AND INCLUDING THE LAST DAY OF THE MONTH IN WHICH THE DISSOLUTION OCCURS, AND SHALL LIQUIDATE THE ASSETS AS PROMPTLY AS IS CONSISTENT WITH OBTAINING THE FAIR VALUE THEREOF, AND SHALL APPLY AND DISTRIBUTE THE PROCEEDS THERE FROM AS FOLLOWS AND IN THE FOLLOWING ORDER OF PRIORITY: 17.11 ALL LIABILITIES AND OBLIGATIONS OF THE CLUB SHALL BE PAID AND DISCHARGED, OR ADEQUATE PROVISIONS SHALL BE MADE THEREFORE. 17.12 ASSETS HELD BY THE CLUB UPON CONDITION REQUIRING RETURN, TRANSFER, OR CONVEYANCE, WHICH CONDITION OCCURS BY REASON OF DISSOLUTION, SHALL BE RETURNED, TRANSFERRED OR CONVEYED IN ACCORDANCE WITH SUCH REQUIREMENTS. 17.13 ALL OUTSTANDING CERTIFICATES SHALL BE REDEEMED PURSUANT TO THESE BYLAWS AS IF THE MEMBERS OR FORMER MEMBERS AND OWNERS OF THE CERTIFICATES HAVE RESIGNED AS MEMBERS AND THERE WERE REPLACEMENT MEMBERS ADMITTED TO SUCCEED THEM. 17.14 THE REMAINING ASSETS, IF ANY, SHALL BE DISTRIBUTED EQUALLY AMONG THOSE MEMBERS HOLDING A PROPRIETARY INTEREST IN THE ASSETS OF THE CORPORATION AS STATED ELSEWHERE IN THESE BYLAWS. 17.2 RIGHTS. MEMBERS SHALL LOOK SOLELY TO THE ASSETS OF THE CLUB FOR RETURN OF THEIR CERTIFICATE CONTRIBUTIONS. IF THE CLUBS ASSETS REMAINING AFTER THE PAYMENT OR DISCHARGE OF ALL DEBTS AND LIABILITIES OF THE CLUB ARE INSUFFICIENT TO RETURN THEIR CONTRIBUTION EITHER IN PART OR IN FULL, THEY SHALL HAVE NO RECOURSE AGAINST THE CLUB, THE OFFICERS, THE BOARD, OR THE EMPLOYEES. |
FORM 990, PART VI, SECTION B, LINE 11B |
THE 990 IS REVIEWED AND APPROVED BY THE AUDIT COMMITTEE AND MEMBERS OF THE FINANCE COMMITTEE AS APPOINTED. THE TREASURER PROVIDES COPIES TO THE BOARD OF DIRECTORS AFTER THE REVIEW AND THE CFO SIGNS THE RETURN. |
FORM 990, PART VI, SECTION B, LINE 12C |
EACH MEMBER OF THE BOARD AND COMMITTEES REVIEWS THE POLICY AND DISCLOSES ANY POTENTIAL CONFLICTS. ALL CONFLICTS OF INTEREST ARE REQUIRED TO BE DISCLOSED AND APPROVED ANNUALLY. |
FORM 990, PART VI, SECTION B, LINE 15 |
THE GENERAL MANAGER/COO AND KEY EMPLOYEES HAVE NEGOTIATED CONTRACTS WHICH ARE DISCUSSED, REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. ANNUAL PERFORMANCE REVIEWS ARE CONDUCTED BY THE GENERAL MANAGER/COO FOR THE KEY EMPLOYEES WHICH ARE THEN DISCUSSED BY THE BOARD OF DIRECTORS WITH SALARY ADJUSTMENTS AND BONUSES BASED ON CONTRACT TERMS. THE PRESIDENT OF THE CLUB REVIEWES THE PERFORMANCE OF THE GENERAL MANAGER/COO WHICH IS DISCUSSED WITH THE BOARD OF DIRECTORS WITH SALARY ADJUSTMENTS AND BONUSES BASED ON CONTRACT TERMS. BOARD OF DIRECTORS DISCUSSIONS ARE DOCUMENTED IN EXECUTIVE SESSION MINUTES. |
FORM 990, PART VI, SECTION C, LINE 18 |
THE CLUB PROVIDES COPIES OF FORM 990 AND FORM 1024 UPON REQUEST. |
FORM 990, PART VI, SECTION C, LINE 19 |
THE CLUB MAKES THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE BY INSPECTION AT THE CLUB. |
FORM 990, PART IX, LINE 24E |
GOLF OPERATIONS 285,002. CLUBHOUSE 249,528. POOL 232,668. GCM EQUIPMENT LEASE 169,754. CERTIFICATE REDEMPTIONS 150,510. TENNIS 87,277. HOLIDAY FUND EXPENSE 64,265. LOCKER ROOM 55,911. FITNESS & RECREATION 21,942. AMORTIZATION & LOAN FEES 667. |
FORM 990, PART XII, LINE 2C |
NO CHANGE FROM PRIOR YEAR. |