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 | CENTER CLUB MEMBERS HAVE THE POWER TO ELECT OFFICERS ON THE BOARD OF GOVERNORS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE BOARD IS ELECTED BY THE MEMBERS ON AN ANNUAL BASIS. |
| FORM 990, PART VI, SECTION B, LINE 11B | DRAFT 990 IS REVIEWED BY THE DIRECTOR OF FINANCE AND THE TREASURER. IT IS THEN CIRCULATED AND REVIEWED BY THE FINANCE COMMITTEE. LASTLY, THE 990 IS SENT TO THE EXECUTIVE COMMITTEE AND TO THE BOARD OF GOVERNORS FOR REVIEW PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE TREASURER REVIEWS THE CONFLICT OF INTEREST POLICY AND THE INDIVIDUAL RESPONSES TO THE POLICY ANNUALLY. THE TREASURER AND FINANCE COMMITTEE ARE AWARE OF ALL TRANSACTIONS/RELATIONSHIPS WITH THE BOARD OF GOVERNOR COMPANIES. |
| FORM 990, PART VI, SECTION B, LINE 15 | EXECUTIVE COMMITTEE ACTS AS COMPENSATION COMMITTEE - THAT REVIEWS THE LATEST COMPENSATION SURVEY (FROM CLUB BENCHMARKING AND CMAA) FOR ALL SALARIED POSITIONS AND FORM 990S FOR OTHER ORGANIZATIONS ON AN ANNUAL BASIS. THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES THE COMPENSATION OF THE GENERAL MANAGER. |
| FORM 990, PART VI, SECTION C, LINE 19 | THESE ITEMS ARE AVAILABLE ON GUIDESTAR AND UPON REQUEST TO TONY HAYNES AT 667-217-3544. |
| FORM 990, PART X, LINE 15B | IN FEBRUARY 2016, THE FASB ISSUED ACCOUNTING STANDARDS UPDATE 2016-02 LEASES (TOPIC 842) TO INCREASE TRANSPARENCY AND COMPARABILITY AMONG ORGANIZATIONS BY RECOGNIZING LEASE ASSETS AND THE CORRESPONDING LEASE LIABILITIES AND DISCLOSING KEY INFORMATION ABOUT LEASING ARRANGEMENTS FOR LESSEES AND LESSORS. THE NEW STANDARD APPLIES A RIGHT-OF-USE MODEL THAT REQUIRES, FOR ALL LEASES WITH A LEASE TERM OF MORE THAN 12 MONTHS, AN ASSET REPRESENTING ITS RIGHT TO USE THE UNDERLYING ASSET FOR THE LEASE TERM AND A LIABILITY TO MAKE LEASE PAYMENTS TO BE RECORDED. THE CLUB ADOPTED THE STANDARD EFFECTIVE JANUARY 1, 2022 AND RECOGNIZED AND MEASURED LEASES EXISTING AT, OR ENTERED INTO AFTER, JANUARY 1, 2022 THROUGH A CUMULATIVE EFFECT ADJUSTMENT. THE STANDARD HAD A MATERIAL IMPACT ON THE STATEMENT OF FINANCIAL POSITION BUT DID NOT HAVE A MATERIAL IMPACT ON THE STATEMENT OF ACTIVITIES NOR THE STATEMENT OF CASH FLOWS. THE MOST SIGNIFICANT IMPACT WAS THE RECOGNITION OF RIGHT-OF-USE ASSETS AND LEASE LIABILITIES FOR OPERATING LEASES. TO CONFORM WITH FASB AND TO AGREE WITH THE FINANCIAL STATEMENT, THE RIGHT OF USE ASSET HAS BEEN SEPERATELY STATED AS AN OTHER ASSET ON THIS 990. |
| FORM 990, PART XII, LINES 2C | THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
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