The Smoke Rise Club Inc

“Line 3 explanation - effective august 1, 2017, the club entered into a management agreement with taylor management company. The club agreed to outsource the property management and administration responsibilities including, but not limited to, the oversight of capital projects and repairs and maintenance, purchasing, accounting, reporting, budgeting, and human resources, subject to board approval.”

“Line 6 explanation - the smoke rise club has 914 members owning land and residence, and 20 members owning land only, a total of 934 members.”

“Line 7a explanation - approval of the annual budget and assessment, special assessments and election of the governing body are subject to approval of a majority of a quorom of the voting members at the annual membership meeting.”

“Line 7b explanation - approval of the annual budget and assessments and election of govenors are subject to approval of a majority of a quorum of the voting members.”

“Line 11b explanation - a dreaft of the form 990-t is provided to the president, treasurer and audit committee representative for review and approval before filing with the internal revenue service. The form 990 is made available to the full board of govenors and members, upon request.”

“The board of govenors agrees to follow the non-profit corporation act and understands that a governor must disclose any conflict that he or she might have in connection with any contract or contractor. Any finanacial or personal interest that a govenor has in connection with a contract or contractor must be disclosed at an open board meeting if the board and noted in the minutes. Each member us required to submit a completed individua conflict of interest questionaire to the executive director on an annual basis.”

“Compensation for the executive director is determined by consultation with the independent management company that provides comparibility data. The compensation is covered by a contractual agreement approved by the board of govenors.”

“The club's financial statements are provided to the membership after their issuance by the independent accountants. The governing documents and conflict of interest policy are available upon request.”

“Utilities: program service expenses 106,359. Management and general expenses 0. Fundraising expenses 0. Total expenses 106,359. Beach expenses: program service expenses 103,845. Management and general expenses 0. Fundraising expenses 0. Total expenses 103,845. Contracted services: program service expenses 83,902. Management and general expenses 0. Fundraising expenses 0. Total expenses 83,902. Bank and credit card fees: program service expenses 72,216. Management and general expenses 0. Fundraising expenses 0. Total expenses 72,216. Special events: program service expenses 54,707. Management and general expenses 0. Fundraising expenses 0. Total expenses 54,707. Payroll service: program service expenses 53,926. Management and general expenses 0. Fundraising expenses 0. Total expenses 53,926. Bad debt expense: program service expenses 0. Management and general expenses 40,000. Fundraising expenses 0. Total expenses 40,000. Auto expense: program service expenses 33,547. Management and general expenses 0. Fundraising expenses 0. Total expenses 33,547. Miscellaneous: program service expenses 32,373. Management and general expenses 0. Fundraising expenses 0. Total expenses 32,373. Telephone: program service expenses 28,855. Management and general expenses 0. Fundraising expenses 0. Total expenses 28,855. Equipment rental: program service expenses 24,649. Management and general expenses 0. Fundraising expenses 0. Total expenses 24,649. Licenses: program service expenses 6,465. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,465. Training: program service expenses 933. Management and general expenses 0. Fundraising expenses 0. Total expenses 933. Postage & mailing: program service expenses 361. Management and general expenses 0. Fundraising expenses 0. Total expenses 361.”

“Cost of goods sold 599,783.”