Lancaster Country Club

“The organization has members who elect the board of governors and approve significant decisions of the governing body. The members do not receive a share of the organization's profits or excess dues or a share of the organization's net assets upon the organization's dissolution.”

“The board of governors shall be chosen by and from the regular members of the club.”

“Any proposed action by the board that can be reasonably expected to result in a capital expenditure of more than $500,000, or to cause the total indebtedness of the club to exceed $1,000,000, or which can be reasonably expected to cause a significant change in the quality or availability of the club, shall require an affirmative vote by a majority of regular members present at a regularly scheduled or special meeting of the membership at which a quorum is present. Also, initiation fees, annual dues, special assessments, yearly capital improvement fund assessments, and service charges shall be set forth by the board of governors, but must be approved by a majority vote by secret ballot of the regular members present at the annual or any special meeting, provided that written notice of the charges is given to the membership by the secretary at least 30 days prior to the meeting.”

“A committee of three individuals, which includes the cfo, general manager/coo and finance committee chair review the return for accuracy of content and approve the return prior to submission. Copies of the return are then distributed to the entire board of governors for their review prior to the filing of the tax returns.”

“All members of the board of governors sign disclosure forms annually. Forms are completed and signed every may when the board re-organizes after annual election to the board.”

“All key employees are given written evaluations by the general manager/chief operating officer of their performance in various areas pertinent to their position within the organization. The general manager/chief operating officer then makes compensation recommendations to the executive committee of the club who acts as the compensation committee of the club.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon written request to the general manager of the club.”

“Change in net membership bond assessment/refunds -70,284. Interest rate swap 223,897.”

“The finance committee and board of governors assume responsibility for oversight of the organization's reviewed financial statements and selection of an independent accountant. This process has not changed from the prior year.”

“The organization exceeded the 15% threshold for public use of facilities for 2024 because it hosted the us women's open, creating significant nonmember revenue in short period of time. The organization meets the facts and circumstances exception to public use of facilities in 2024 because the nonmember revenue from the event is non-recurring and in 2025 the organization has resumed regular activities with nonmember revenue below 15%.”