The Town and County Club Incorporated

“The organization has four classes of members: resident, non-resident, junior, and dining. All classes except dining members are entitled to elect the governing body, approve significant decisions of the governing body, and are eligible to participate in distribution of the organization's assets upon liquidation.”

“Members of the board of governors are elected by the organization's voting members at the annual meeting”

“The organization's voting members elect the board of governors at the annual meeting. The voting members also must approve any proposed changes to the by laws.”

“A draft of the form 990 is reviewed and approved by the controller and the president and/or treasurer of the organization before filing. The president and/or treasurer subsequently presents the form 990 to the remainder of the board.”

“The organization maintains a written conflict of interest policy that applies specifically to all officers and members of the board of governors. These individuals must annually sign a statement that affirms that such person has received a copy of the policy, has read and understands said policy, and has agreed to comply with the policy. As the board of governors is elected by the voting members annually, the club is confident that this procedure provides regular and consistent monitoring of the policy. Further, any situations that may arise during the year with any members of the organization are presented to and assessed by the board of governors for any potential conflicts. And finally, the organization passed a resolution in 1999 outlining potential conflicts of interest to be avoided in regular business transaction between the organization and its members.”

“The organization has a discretionary bonus compensation plan for its general manager and certain other management employees. The plan includes review of the employee's performance by various members of the personnel committee as well as representatives of certain committees having involvement with key aspects of the employee's functions/responsibilities. The personnel committee is responsible for final approval of all changes in an employee's compensation.”

“The organization does not make its governing documents, conflict of interest policy, and financial statements available to the public.”

“Employee fund temporarily restricted net assets 219.”