Michigan Shores Club

“There are two major classes of members, equity members and non-equity members. Equity members are members who are entitled to share in liquidation proceeds, and who purchase a redeemable or partially redeemable certificate. These members have the authority to elect the governing body and also approve significant decisions made by the governing body. Non-equity members are members who are not entitled to vote, hold office, share in liquidation proceeds, or have their initiation fees refunded in whole or in part.”

“If someone on the board leaves or vacates their position, the board members have the right to appoint an equity member to the board. However, this person must be in good standing with the club. The board members shall elect equity members to fill vacancies in the board to serve until the next annual meeting of the club.”

“The equity members have a right to vote for bylaw changes, dues increases for their class of membership, assessments, and to elect the board of directors.”

“The return is prepared by the organization's public accounting firm, selden fox, ltd., and is reviewed by the organization's treasurer. Before filing, a copy of form 990 is provided to the governing body for review, questions and comments.”

“A conflict of interest policy is signed annually by the board in the annual reporting form. The organization monitors and enforces the conflict of interest policy in the following manner: if there is an actual or possible conflict of interest, an interested person (one with a direct or indirect financial interest) must disclose the existence of his or her financial interest and all material facts to the board or a committee with board delegated powers that is considering a proposed transaction or arrangement. If the committee determines that there is a conflict, that interested person will not be part of the decision making process except to provide information that the committee determines is needed for the decision. If the board or a committee has reason to believe that a member failed to disclose actual or possible conflicts of interest, they will investigate the matter and take disciplinary and corrective action if warranted.”

“The general manager's compensation is determined by the personnel committee comprised of board members. The general manager determines the compensation of staff subject to the approval of the personnel committee.”

“A private member club is not required to make governing documents or financial statements available to the public, but form 990 is available to the public upon request.”