Pinetop Country Club Inc

“The organization has a management agreement with troon golf llc. Golf club management services and employees are provided by troon golf llc.”

“Regular equity membership - limit 325, current 324 - full access to all club amenities (golf course, dining options, tennis, pickleball courts, and all social activities). Regular membership is considered equity-owned, it can be transferred in accordance with policies and bylaws. Regular members have voting privileges and are eligible to serve on the board of directors. Corporate designate membership(sponsorship) - no limit, current 14 - corporate sponsored membership requires an individual primary designee who then has the same benefits as a regular equity membership. Clubhouse membership - limit 125, current 109 - unlimited access to the clubhouse and can enjoy dining options, tennis and pickleball courts, and social events. Ancillary membership: intermediate golf membership - limit 50, current 42 - individuals between the age of 21 and 50. Legacy members - limit 35, current 25 - individuals at least 75 years of age.”

“The form 990 and 990t is prepared by an outside accounting firm and reviewed by the organization's treasurer prior to filing.”

“Any potential transaction or arrangement with an officer or director would be brought to the attention of the general manager or properly controller to determine appropriate treatment in accordance with the conflict of interest policy. The general manager is responsible for approving all expenditures and the property controller handles all disbursements and receipts of funds, so financial transactions would be identified before any disbursement or receipts of funds could occur. If an officer or director, or an immediate family member, would like to transact with the club or create an agreement beyond their stated duties (i.e. To sell goods or services to the club) a quote or proposal would be obtained. The general manager and controller would review quote/proposal to deem it an 'arms length' transaction. If needed, the general manager would obtain similar quotes/proposals for comparison in preparation for presenting to the board of directors. The quote/proposal would be brought to the board of directors meeting for discussion and approval. The board member involved in the potential transaction leaves the board meeting during discussion of the quote/proposal. Further, the board member is not allowed to vote on approval of quote/proposal. This board member is 'restricted' from discussing and approving the quote/proposal. If the transaction could exceed $25,000, the quote/proposal would also be presented to the finance committee of the board of directors, prior to presentation to the full board in compliance with our contracts policy.”

“The organization has a management agreement with troon golf llc. Included in this agreement is providing comparable management employee compensation data for similar country clubs. Further, the finance committee and the board of directors annual reviews and approves the club's budget. The board has final approval over compensation. The process described here was last completed in 2024.”

“None of these are made available to the general public.”

“Net assets from c corporation 5,741,663. Begining net asset adjustment for asc842 adoption 143,881.”

“Accrual basis with departures for revenue recognition. Revenues are a departure from gaap accounting.”