Edina Country Club

“Edina country club members consist of club member of three categories based on the members' intent for joining. The three categories are regular members, pool/tennis members, and social members. Those who wish to join pay an initiation fee along with an annual membership fee. The maximum number of memberships are 375 for regular members and 215 for pool/tennis members. The board may, in its discretion, limit the number of members in the social members category.”

“Regular members in good standing, as defined in the bylaws, of the organization at the time of any vote shall be entitled to vote. Each regular member shall have one vote. Pool/tennis members in good standing, as defined in the bylaws, at the time of any vote to elect persons to serve on the board of directors shall have the right to elect one of their members to serve on the board for a two year term. Each pool/tennis member shall have one vote.”

“The completed tax return is sent via e-mail to the governing board of directors for comments and remarks before the return is filed with the irs.”

“The conflict of interest policy is reviewed annually by the board of directors. A copy of the conflict of interest policy is provided to the board members and key employees. Board members and key employees acknowledge the policy and their agreement to abide to it by signing an acknowledgement that is maintained in the club offices. If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

“Compensation is not provided to board officers. Key employees and employees classified as officers are compensated based on experience, market conditions and length of service. The executive committee approves compensation of the club's general manager. The finance director's compensation is determined by the general manager. The director of golf's compensation is determined by the general manager in conjunction with the executive committee. The executive committee reviews the director of golf's employment contract.”

“Edina country club does not make this information available to non-members. Documents are available to members upon request for the same period of disclosure as set forth in section 6104(d).”

“Initiation fees 1,055,748. Capital dues 590,750. Proceeds from issuance of stock 25. Payments to resigned members -53,567. Monthly capital assessment 249,861.”

“No change from the prior year.”