Pinecrest Country Club

“Pinecrest country club has five membership classes: shareholder members - owners and holders of the issued and outstanding shares of the corporation's common stocknon-resident members - members living more than 50 miles from the city limits of longview, txsenior membersjunior memberssocial membersall members must be approved by the board of directors.”

“Shareholder members are eligible to participate on the board of directors. Each year, a nominating committee is appointed by the board of directors to nominate shareholder members in good standing for participation on the board of directors. In addition, a number of shareholder member nominations outside of the nominating committee are accepted to the list of nominees. Shareholder members elect the board of directors each year at the annual meeting of the shareholder members from the list of nominees.”

“Any director may be removed either for or without cause at any annual or special meeting of shareholder members by the affirmative vote of a majority of the shareholder members. The board may not establish or modify the amount of the membership dues or other charges or borrow funds from any source in a principal amount which would cause the total indebtedness of the corporation to be in excess of $250,000 without approval of the majority of the shareholder members. Shareholder members also vote to approve various other matters submitted to a vote of the shareholder members.”

“Each director is provided an electronic copy of the form 990 before it is filed with the irs. The board of directors reviews the form as a group after it is filed with the irs.”

“The board of directors reviews and approves the compensation for certain top management and employees including the clubhouse manager, golf pro, golf course superintendent, and controller. The board reviews the compensation for these individuals annually.”

“Governing documents, policies and financial statements are not made available to the public.”