Boca West Country Club Inc

“The club is a private member-owned club that is owned and operated for the pleasure and recreation of its members.”

“The organization has one class of voting/equity membership. Each membership is entitled to one vote.”

“The following decisions are subject to membership approval by majority votes cast at a meeting of the members: 1. Capital assessments 2. Capital budget in excess of $4,447,573 3. Single capital expenditure in excess of $1,111,892 4. Borrowing in excess of $14,002,012 5. Bylaw changes”

“Should the executive committee take action when the board of governors is not in session, the executive committee will report the action to the board of governors at the next regularly scheduled meeting which will then be documented in the board of governors minutes.”

“The audit committee is charged with review of the club's tax return. The cfo meets with the audit committee and the general manager to review the form 990, in its entirety, prior to submission to the taxing authorities. An officer signs the return.”

“Board members and key employees are required to complete a conflict of interest form annually.”

“The process for determining compensation of the organization's officers, top management officials and key employees includes the use of comparable data, review and approval by the compensation committee and contemporaneous substantiation/documentation of the decision. The general manager receives compensation as per a stated contract. Employees are reviewed by their supervisor/department head and increases are approved by the human resource director with final approval being made by the general manager. The compensation committee approves the salary adjustments for department heads and any adjustments to the general manager's contract.”

“The club provides copies of form 990 and form 1024 upon request.”

“The club provides copies of its governing documents, conflict of interest policy, and financial statements upon request.”

“Activities 3,275,483. Utilities and telephones 2,391,846. Real estate & personal prop taxes 1,457,080. Interest rate swap agreement 1,451,826. Fitness 748,937. Construction legal and consulting fees 593,567. Flood damage 539,224. Landscape 483,902. Communications 442,540. Membership & marketing 365,414. Aquatic 305,406. Tennis 250,048. Merchandise 198,356. Other related expenses 33,908.”

“Certificates issued by club 4,493,150. Certificates redeemed by club -4,600,519. Capital contributions 18,460,300. Net forfeited certificates, transfers and fees -54,000.”

“No change from prior year.”