Rolling Hills Corporation

“Rolling hills company is organized as a stock corporation, that has both stock and non-stock memberships. The stock members are entitled to full use of the golf course and other club facilities, an equity interest in the organization, one vote on matters of the organization's business, and may hold office as a member of the board of directors. The non-stock members have full use of the golf course and club facilities. Non-stock members do not have an equity interest in the organization, have no vote on matters of the organization's business, and may not hold office. There are also social memberships that have the rights and privileges of the non-stock members with the exception of use of the golf course.”

“Stock members elect the board of directors annually. Each stock member has one vote.”

“The stock members vote on approval of special assessments to the members, amendments to the organization's by-laws, and approval of indebtedness of 50,000 or more.”

“The 990 is reviewed by the controller, general manager, treasurer, and board president prior to filing with the irs.”

“All board members sign a conflict of interest form each year.”

“The general manager's compensation is reviewed annually by the 3 members of the executive board and a written formula is used to calculate any annual bonus.”

“The golf course superintendent's compensation is reviewed by the golf committee and the accouting controller's compensation is reviewed by the general manager.”

“No documents are available to the public.”

“Clubhouse & membership - promote activities to encourage membership and golf activities.”

“Seed/fertilizer/sod/sand 35,499 0 0 equipment leasing 32,636 0 0 pool supplies 27,100 0 0 tabc liquor tax 26,769 0 0 ubi taxes 24,154 0 0 sales promotions 21,738 0 0 pro shop fees 20,000 0 0 linens & laundry 19,382 0 0 loan closing costs 18,292 0 0 chemicals 16,688 0 0 paper goods 16,570 0 0 gas & oil 15,482 0 0 credit card fees 14,210 0 0 supplies 12,232 0 0 personal property taxes 12,020 0 0 trash removal 11,873 0 0 contract cleaning 11,596 0 0 telephone 10,356 0 0 irrigation repairs 10,247 0 0 dues & subscriptions 7,749 0 0 music & entertainment 7,379 0 0 equipment rental 5,592 0 0 fire/burglar alarm/secrty 5,292 0 0 landscaping 4,884 0 0 repairs - kitchen 4,132 0 0 contract labor 4,039 0 0 mineral interest taxes 3,999 0 0 employee uniforms 3,829 0 0 grease trap 3,398 0 0 miscellaneous expense 3,318 0 0 taxes & permits 3,045 0 0 beverage cart expense 3,036 0 0 pest control 2,923 0 0 tournament fees 2,700 0 0 bad debt 2,500 0 0 internet fees 2,351 0 0 china, glass, & silver 2,347 0 0 green fee commissions 1,919 0 0 social expense 1,231 0 0 bank charges 1,050 0 0 purchased ice 516 0 0 gifts & awards 214 0 0”

“Pro shop cogs 48,092 pro shop cogs -48,092 book / tax depreciation difference -16,061”

“Capital contrbutions 7,500”