The Bedens Brook Club

“The bedens brook club (the "club") was incorporated as a membership organization.”

“The nominating committee recommends candidates on a ballot. Additional candidates can be nominated by written petitions of 25 members. 30 days prior to the annual meeting, a notice and proxy will be mailed to all voting members. The candidates with the greatest number of votes at the annual meeting shall be elected.”

“No moneys of the club shall be expended or any debt contracted for any purpose unless authorized by the board of trustees, by virtue of adopting the annual budget, or otherwise, in accordance with the powers vested in said board; provided, however, that total expenditures on any new single capital project exceeding one million ($1,000,000.00) dollars must also be submitted to the membership entitled to vote for approval and may be made only if approved by a majority of the votes cast, in person or by proxy, at a regular or special meeting of the club members entitled to vote thereon, provided that a reasonably detailed notice of the proposed expenditure shall have been mailed to each club member and posted on the bulletin board at the club premises and the website for at least twenty (20) days before the meeting. No expenditures shall exceed the appropriation approved by the club members except that the board may approve an additional overage expenditure on an approved project of not more than ten percent (10%) of the project expenditures approved by the membership vote. Notwithstanding the above, assessments required to pay for extraordinary repairs or replacements do not require club member approval and may be imposed by the board. "extraordinary repairs or replacements" shall mean repairs or replacements to the club facilities which result from wear and tear, acts of god, natural disasters, weather, fires, pestilence, emergency conditions, conditions that jeopardize the club's facilities or operations, requirements imposed by governmental authorities after the date hereof, or any events beyond the reasonable control of the club.”

“The form 990 is reviewed by the president and finance committee. The final return is then made available to the entire board prior to filing with the internal revenue service.”

“A conflict of interest policy is reviewed by the general manager and president annually at the board meeting.”

“The club contacts their outside auditors for comparability data of similar clubs to determine compensation of the club's ceo, executive director and key employees. All compensation must be approved by the board. The club does not compensate its officers and trustees.”

“The club's governing documents, conflict of interest policy, and financial statements are not available to the public.”

“Net decrease in membership certificates -46,446.”