Stoner Creek Country Club

“Members are required to purchase stock.”

“Stockholders elect the board of directors annualy.”

“By laws changes are approved by majority vote of the stockholders.”

“The board of directors meet the first monday of every month, minutes of each meeting are taken by the board secretary and kept by the president and officers.”

“There are not committees of the board. When special committess have been established, they mainatin minutes and submit same to the board.”

“The board of directors does not undergo a review process. Positions on the board of directors is by election on an annual or bi annual basis.”

“Facilities general managers salary was based on prior managerial experience and work history as a pga golf professional.”

“Members of the board of directors are not compensated. Employees are compensated according to skill level and in compliance to federal and state law.”

“Governing documents are made available to the membership, including but not limited to, bylaws, financial statements, general directors meeting minutes, and tax forms. Public review is by request. Availability of governing documents and 990 is to the public by request.”

“On december 16th, 2015, at a duly formed meeting of the directors, it was unaminously approved and resolved that the board of directors should recommend to the shareholders to accept an offer to purchase all of the corporations real estate and depreciable personal property. Purchase offer was made by marion wells, jr of paris kentucky. A special shareholder meeting and vote was held on dec. 30th, 2015, in accordance with the by laws. The shareholders majority vote was in the affirmative to accept mr. Wells offer. On january 15th, 2016, all real and depreciable personal assets of stoner creek country club were transfered to mr. Marion wells, jr for a total of $460000.00 usd. The corporation ceased its primary exempt purpose at 12:00pm january 14th, 2016.”

“To close negative retained earnings account (unrealized losses of $ 1,063,322.00)”

“Outstanding contract settlements $ 5423.00club wide utilities expense $ 3330.00charitable donations $ 4336.00property taxes paid $ 2640.00bank charges and cc fees $ 453.00misc settlement charges $ 112.00total $ 16294.00”