Louisville Country Club

“The organization has members.”

“Governors are elected by the voting members.”

“Assessments, dues increases and initiation fee increases must be voted on by voting members.”

“A draft of the return is reviewed first by internal management. After internal management has reviewed the return and any changes are made a draft is made available for review and presentation to the board. Once the comments from the board are reviewed the final return is prepared and signed.”

“Each board member, the general manager and the controller shall annually sign a statement which states they have received a copy of the conflict of interest policy, have read and understand the policy, agreed to comply with the policy, and understand the organization is tax-exempt and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. If there is an actual or possible conflict of interest an interested person must disclose the existence of the financial interest and is given the opportunity to disclose all material facts to the governing board. After disclosure of the financial interest the interested person shall leave the governing board meeting while the determination of a conflict of interest is discussed and voted upon. During the determination, if a more advantageous transaction or arrangement is not reasonably possible that doesn't produce a conflict of interest, a majority vote will determine if the transaction causing the conflict of interest is in the club's best interest.”

“The president and executive committee of the board of governors reviews the performance and determines the annual bonus amount and regular pay increase.”

“The organization does not make its governing documents, conflict of interest policy, and financial statements available to the general public. However, these documents are made available to the members of the organization upon request.”

“CONTRACT LABOR 825,152.”

“Change in beneficial interests 400.”

“There was no change in the organization's oversight process or selection process during the tax year. The organization has a finance committee that oversees the audit of the financial statments and the selection of the independent auditor.”