The Capital City Club

“The club is a membership organization. Members must be invited to join by existing members. Memberships are not transferable.”

“The members elect the governing board annually. A president, vice-president, secretary/treasurer and three members of the governing board shall be elected at the annual member meeting.”

“The members must approve any proposed changes to the club's constitution. This includes member classifications, powers of the board, membership limits, initiation fees and dues, assessments, annual member meetings, penalties, and other matters. Amendments to the club's constitution may be made at any meeting of the club, annual or special, by the affirmative vote of two-thirds of the members then entitled to vote and actually voting in person or by proxy. No proposed amendment shall be submitted to the membership for vote; however, unless it shall have been previously approved by the governing board, and unless notice of such proposed amendment has been giving in writing to the members and posted in the clubhouse at least thirty days prior to the date of the meeting at which it is to be considered.”

“The form 990 and related tax returns are prepared by frazier & deeter, llc, an outside cpa firm. The draft returns are reviewed in detail by the cfo, controller and the general manager for accuracy. The draft form is then circulated to the governing board for review and comment. Once all comments are resolved, the final tax forms are approved and signed by the cfo.”

“Officers, directors and committee members are required to disclose conflicts of interest at the time of decision making. No officer or board member shall use his or her position for personal gain. Such activity shall be deemed a conflict of interest and shall be a cause for removal.”

“The compensation committee consisting of the club's president, vice-president and chairman of the finance committee determine the general manager's compensation. The utilize comparability data for similarly qualified persons in functionally comparable positions at similarly situated organizations. The process is undertaken annually.”

“Documents, including form 990, are made available upon request. Governing documents and financial information are made available to the members but not to the general public.”

“Change in defined benefit plan 320,553. Gain/(loss) on interest rate swap agreements -79,640.”