Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| FORM 990-EZ, PART I | FORM 990-EZ, PART 1, LINE 20 - OTHER CHANGES IN NET ASSETS OR FUND BALANCES. IN 2017 THE CLUB SOLD TIMBER ON CLUB PROPERTY AT A PRICE OF 67,571. COMMISSION OF SALE WILL BE 14% OR 9,454. FIRST PAYMENT OF 16,882.75 WAS RECEIVED IN 2018. THE CLUB INCURRED, OR WILL INCUR, COSTS RELATED TO THE PROJECT WHICH WILL BE AT LEAST 58,000. SECTION 512(A)(3)(A) OF THE CODE PROVIDES THAT IF PROPERTY USED DIRECTLY IN THE PERFORMANCE OF THE EXEMPT FUNCTION DESRIBED IN 501(C)(7) IS SOLD BY SUCH ORGANIZATION WITHIN A PERIOD BEGINNING 1 YEAR BEFORE THE DATE OF SUCH SALE, AND ENDING 3 YEARS AFTER SUCH SALE. OTHER PROPERTY IS PURCHASED AND USED BY SUCH ORGANIZTION DIRECTLY IN PERFORMANCE OF ITS EXEMPT FUNCTION, THEN THE GAIN FROM SUCH SALE SHALL BE RECOGNIZED ONLY TO THE EXTENT THAT THE SALES PRICE EXCEEDS THE COST OF PURCHASING THE OYHER PROPERTY. TOTAL PROJECT SALE 67,531 LESS: COMMISSION 9,454 NET PROCEEDS 58,077 EXPENDED IN 2017 -8,184 EXPENDED IN 2018 -9,748 EXPENDED IN 2019 -15,683 |
| FORM 990-EZ, PART II, LINE 24 | 2017 PAYMENTS TOWARD 2018 SALE 0 0 TOTAL 0 0 |
| FORM 990-EZ, PART II, LINE 26 | SALE OF TIMBER SUSPENDED GAIN 40,145 24,462 |
| FORM 990-EZ, PART III | A SOCIAL CLUB FOR MEMBERS ONLY FOR THE PURPOSE OF HUNTING, FISHING AND SOCIAL GATHERINGS. THE CLUB ALSO IMPROVES THE ADJACENT LAND AND PLANTS VARIOUS TYPES OF FEED GROWTH TO NURTURE AND IMPROVE WILDLIFE POPULATION IN THE SURROUNDING AREA. |
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