Sunset Hills Country Club Inc

“The club has members who can either hold equity or non-equity memberships. In the current year, the club has a total of 933 memberships which included 777 original equity and new equity memberships. The total number of dues paying memberships is approximately 432.”

“Founding members the founding members of sunset hills country club, inc. Are those persons who were members of the club on october 31, 1985. There are currently approximately 100 founding members. The founding members are entitled to use of the club facilities, subject to the payment of all fees, dues and other charges levied by the board of directors of the club, but are not entitled to vote. The founding members also have liquidation preference. In the event that the club's assets are liquidated, the net proceeds from such liquidation would be allocated and distributed to the founding members of the club, pro rata, until each founding member has received 2,200 of proceeds to the extent that liquidation proceeds are available. Any remaining liquidation proceeds would then be allocated and distributed to the equity members, on a pro rata basis. Original equity members original equity members are persons who purchased original equity memberships in the 1985 recapitalization or thereafter. The original equity memberships were issued at a cost of 3,000 per membership. There are 249 original equity members holding 351 equity memberships. There are no unissued memberships. New equity members on august 15, 2002, the club offered a new class of equity memberships to replace the current class of equity memberships issued in 1985. The purpose of this offering was to provide the necessary equity funds to construct a new clubhouse facility for the club to replace the existing facility. The new equity memberships were offered at subscription prices varying from 7,500 to 10,000 per membership depending on the number of memberships purchased. The offering expired march 1, 2004 with no more equity memberships to be issued. The total additional equity from this offering totaled 3,508,500. There is a total of 426 new equity memberships. Only the members that hold the new equity memberships are eligible to elect directors of the club and to vote on any other matter affecting the club.”

“The return is reviewed by the organization's controller, with any of their questions being addressed before going to the organization's general manager and board chair for final review.”

“Governing documents available upon request”