Grand Harbor Golf & Beach Club Inc

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

“The following member categories have voting privileges: full (4 votes), golf, sports and golf & tennis (3 votes), tennis-social and tennis (2 votes), and social (1 vote). All have voting rights on matters pertaining to their membership category.”

“The board of governors is restricted to indebtedness not to exceed $500,000 and capital programs not to exceed $1,000,000 in any one (1) fiscal year unless approved by a majority vote of the members. This restriction applies to spending related to capital programs for facilities, property and equipment replacement, improvements, and additions ("capital programs"). Assessments to fund facilities, property and equipment replacements, improvements and additions and indebtedness used to fund such capital expenditures ("capital assessments"), may be made only after being approved by a majority vote of the voting members if the total amount of capital assessments being imposed is $500,000 or more per membership year. The capital assessment shall be allocated among the voting members as determined by the board of governors. The annual election and by law changes also require membership approval.”

“The organization does not believe it is effective nor efficient for the entire governing board to review form 990 before filing. Thus, the governing board delegates the review of form 990 and the related schedules to the treasurer and delegated members of the finance committee. The treasurer and finance committee review the entire form 990 with its outside cpa prior to the filing of the form.”

“Vendors known to the industry are vetted and used in day to day operations; club does not utilize member affiliated companies to provide club services; committees make recommendations as consultants or advisors but bog approves recommendations. General manager oversees decisions and recommendations of department heads. Board of governors and general manager subscribe to a code of ethics to not participate in prohibitive, fraudulent or activities including the misappropriation of funds, club property, services, or erroneous billings.”

“Competitive studies gathered and summarized for the general manager and committee chair; recommendations for compensation made and provided during budgeting process; board approval given through approval of budget.”

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

“The club has copies of its governing documents available for inspection at the club. The club does not make copies of its financial statements available to the public. The club has copies of the conflict of interest policy available for inspection at the club.”

“Membership certificates issued 4,859,667. Membership certificates redeemed -973,100. Capital contributions 1,793,500.”

“The audit committee's responsibilities and processes for oversight of the audit and selection of the independent auditor have not changed from the previous year.”