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/fert./sod - golf 35,706 0 0 repair/maintenance - golf 29,356 0 0 credit card fees 22,784 0 0 repairs & maintenance 21,989 0 0 linens/laundry - kitchen 20,320 0 0 chemicals - golf 19,267 0 0 personal property taxes 18,127 0 0 supplies - kitchen 17,800 0 0 tabc liquor tax - kitchen 17,637 0 0 dues & subscriptions 12,547 0 0 paper goods - kitchen 11,518 0 0 trash removal 11,184 0 0 bad debt 10,906 0 0 supplies - golf 10,575 0 0 gas & oil - golf 10,421 0 0 telephone 8,547 0 0 contract cleaning - pool 8,342 0 0 contract labor - kitchen 7,241 0 0 landscaping - golf 7,147 0 0 supplies 6,883 0 0 tournament fees - golf 5,712 0 0 paper goods 5,661 0 0 office equipment 5,056 0 0 repairs - kitchen 5,024 0 0 fire/burglar alarm/secrty 4,339 0 0 contract cleaning 4,269 0 0 beverage cart expense 4,072 0 0 bank charges 4,016 0 0 miscellaneous expense 3,861 0 0 dues/subscriptions - golf 3,140 0 0 taxes & permits 3,110 0 0 music & ent. - kitchen 2,926 0 0 chemicals - pool 2,909 0 0 pest control 2,776 0 0 grease trap - kitchen 2,527 0 0 purchased ice - kitchen 1,762 0 0 telephone - golf 1,750 0 0 pool supplies 1,359 0 0 china/glass/silver - kitc 1,092 0 0 contract labor 988 0 0 internet fees 900 0 0 grease trap - golf 841 0 0 sales promotions 800 0 0 telephone - kitchen 797 0 0 taxes & permits - kitchen 750 0 0 social expense - kitchen 668 0 0 internet fees - golf 596 0 0 equipment rental 401 0 0 taxes & permits - pool 400 0 0 filing fees 396 0 0 repair/maintenance - pool 349 0 0 telephone - pool 247 0 0 contract labor - pool 243 0 0 employee uniforms - kitch 241 0 0 gifts & awards 238 0 0 personal prop. Tax - golf 217 0 0 taxes & permits - golf 188 0 0 miscellaneous exp - golf 113 0 0 employee uniforms - golf 64 0 0 employee uniform expense 59 0 0 linens/laundry 36 0 0”

“Capital contributions 8,250 book/tax difference depreciation 14,863 total 23,113”