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.”

“Supplies 42,512 0 0 seed/fertilizer/sod/sand 33,064 0 0 sales promotions 31,469 0 0 chemicals 28,819 0 0 pool supplies 23,607 0 0 personal property taxes 21,258 0 0 linens & laundry 20,510 0 0 tabc liquor tax 20,135 0 0 paper goods 19,178 0 0 credit card fees 18,650 0 0 gas & oil 14,704 0 0 trash removal 12,802 0 0 loan closing costs 10,806 0 0 contract cleaning 10,298 0 0 telephone 10,268 0 0 dues & subscriptions 9,730 0 0 irrigation repairs 8,592 0 0 supplies 7,038 0 0 landscaping 5,932 0 0 tournament fees 4,928 0 0 bank charges 4,291 0 0 taxes & permits 4,135 0 0 grease trap 4,066 0 0 fire/burglar alarm/secrty 3,677 0 0 beverage cart expense 3,619 0 0 bad debt 3,600 0 0 pest control 3,091 0 0 miscellaneous expense 3,028 0 0 internet fees 2,328 0 0 music & entertainment 2,319 0 0 contract labor 1,522 0 0 social expense 1,491 0 0 employee uniforms 1,417 0 0 china, glass, & silver 1,332 0 0 purchased ice 1,140 0 0 repairs - kitchen 939 0 0 gifts & awards 749 0 0 equipment rental 526 0 0”

“Pro shop cogs 78,961 book/tax diff on sale of assets -590 pro shop cogs -78,961 book / tax depreciation difference 35,018”

“Capital contributions 15,000”