Lake Tyee

“A member of the association would generally be a subscriber to the corporation's memorandum of association (articles of incorporation) with the member's name entered in the corporation's register of members when the firm is registered (or incorporated). Owners automatically become members of the association.”

“The corporation is structured to have members who have the right to elect directors of the corporation. During each year, the corporation holds an annual elections meeting where the association members elect the board members for the next year. The specific method of the board's election process is formally set in the corporation's organizational documents.”

“An organization's governing documents dictate the various resolutions that require membership approval. The bylaws specify when board meetings must be held and how many board members must be present to pass official business matters via vote. The association complies with all state requirements for community interest developments regarding membership approval.”

“The form 990 is prepared by an independent certified public accountant as part of the audit process. The form 990 is then provided to the board of directors for review and signature authorization prior to its filing.”

“Governing documents are made available to the public via the website.”

“Common area r&m 30,030 0 0 equipment 29,100 0 0 fuel 21,523 0 0 road maintenance 21,453 0 0 lake maintenance 19,293 0 0 depreciation 16,366 0 0 water system 14,701 0 0 safety and security 11,781 0 0 landscaping 9,252 0 0 income tax expense 8,516 0 0 janitorial 7,225 0 0 gate repairs, suppliers 4,290 0 0 property taxes 2,996 0 0 licenses, permits & fees 2,512 0 0 sales tax 1,399 0 0 total 200,437 0 0”

“Owned lots basis adjustment 38,752 book to tax difference on lot sale gain -11,714 transfer contract liabilities -7,436 total 19,602”