Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | CLASS A AND CLASS B MEMBERS HAVE VOTING RIGHTS. JUNIORS, NATIONALS, AND HONORARY MEMBERS DO NOT HAVE VOTING RIGHTS. |
| FORM 990, PART VI, SECTION B, LINE 11B | FORM 990 WILL BE DISTRIBUTED TO ALL GOVERNING BODY MEMBERS OF THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO THE FINAL APPROVAL. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. IF ANY DIRECTOR HAS A CONFLICT OF INTEREST WITH RESPECT TO ANY MATTER TO BE VOTED ON BY THE BOARD OF DIRECTORS, AS DETERMINED BY SUCH DIRECTOR OR BY MAJORITY VOTE OF THE BOARD OF DIRECTORS, SUCH DIRECTOR WILL BE RECUSED FROM SUCH VOTE AND, AT THE REQUEST OF THE BOARD OF DIRECTORS, DISCUSSIONS RELATING TO SUCH VOTE. |
| FORM 990, PART VI, SECTION C, LINE 19 | ALL REQUIRED DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | REFUNDABLE MEMBERSHIP ACTIVITY -184,320. INCOME TAXES -60,780. BOOK/TAX DIFFERENCE FOR STEP UP IN BASIS UNDER REG. 1.337(D)-4(A)(1)-(2) 1,008,731. |
| GENERAL DISCLOSURE: | THE ORGANIZATION WAS INCORPORATED IN 2012 AS A MASSACHUSETTS NONPROFIT CORPORATION. SINCE INCEPTION IT HAS OPERATED SOLELY AND EXCLUSIVELY FOR THE PLEASURE AND RECREATION OF ITS MEMBERS, THEIR FAMILIES, AND THEIR INVITED GUESTS. THE ORGANIZATION APPLIED FOR AND RECEIVED AN INTERNAL REVENUE SERVICE DETERMINATION LETTER DATED JULY 12, 2022 THAT IT QUALIFIES AS EXEMPT UNDER INTERNAL REVENUE CODE SECTION 501(C)(7). IMMEDIATELY PRIOR TO CONVERSION TO THE REQUESTED SECTION 501(C)(7) DESIGNATION THE ORGANIZATION REPORTED A DEEMED LIQUIDATION UNDER REGULATIONS 1.337(D)-4(A)(1)-(2) AND PAID TAX ON THE GAIN CALCULATED ON THE DEEMED LIQUIDATION RESULTING IN AN INCREASE TO THE TAX BASIS OF ITS ASSETS. |
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