2023-08-29T13:26:03-04:00 2022-12-31 561535659 STEPHEN L LUCAS CPA PA PO BOX 1357 HIGHLANDS NC 287411357 990 2022-03-15 561711907 CEDAR CREEK RACQUET CLUB INC CEDA 8287439380 P O BOX 1805 CASHIERS NC 28717 TYLOR FIELD PRESIDENT 8281499380 2023-08-22 true TAYLOR FIELD XXX-XX-XXXX false STEPHEN L LUCAS P01049767 8285262399 2023-08-22 2022 2023-04-26 12:10:37Z X TYLOR FIELD 55 HAVEN RIDGE TRAIL GLENVILLE NC 28736 2908350 false X CEDARCREEKCLUB.COM X 1990 THE CLUB PROVIDES SOCIAL AND RECREATION ACTIVITIES FOR MEMBERS ONLY, INCLUDING CLUB HOUSE, FOOD AND BEVERAGES, TENNIS AND PICKLE BALL COURTS, SWIMMING AND OTHER SERVICES TO MEMBER. 9 9 32 0 0 2931107 0 -22757 2908350 0 0 0 0 0 2202198 2202198 706152 4006953 1722521 2284432 X THE CLUB PROVIDES SOCIAL AND RECREATION ACTIVITIES FOR MEMBERS ONLY, INCLUDING CLUB HOUSE, FOOD AND BEVERAGES, TENNIS AND PICKLE BALL COURTS, SWIMMING AND OTHER SERVICES TO MEMBER. false false THE CLUB PROVIDES SOCIAL AND RECREATION ACTIVITIES FOR MEMBERSONLY, INCLUDING CLUB HOUSE, FOOD AND BEVERAGES, TENNIS AND PICKLE BALLCOURTS, SWIMMING AND OTHER SERVICES TO MEMBER. DEPRECIATION ACCOMPLISHMENT 1 false false false false false false false false false true false false false false false false false false false false false false false false false false false false true false false false false false false false false false false false false false false true 8 0 false 32 true false false false false false 312504 false false false X 9 9 false false false false true true false true true false false false true true true true true true true false X X MELISSA GRANT 8287439380 42 RACQUET CLUB DRIVE P O BOX 1805 CASHIERS NC 28717 X TIM SHEPARDSON CLUB MANAGER 40.00 X 165000 0 0 TOM BROWN TREASURER 2.00 X X 0 0 0 SARAH CHAPIN VICE PRESIDE 2.00 X X 0 0 0 TYLOR FIELD PRESIDENT 3.00 X X 0 0 0 ROBERT FORTSON DIRECTOR 1.00 X 0 0 0 SARAH LANE SECRETARY 2.00 X X 0 0 0 GAYBIE PITTMAN TRUSTEE 1.00 X 0 0 0 MARK QUICK DIRECTOR 1.00 X 0 0 0 MIKE QUILLEN DIRECTOR 1.00 X 0 0 0 JENNIFER WHITTLE TRUSTEE 1.00 X 0 0 0 165000 2 false true false X DUES REVENUE 713910 1633727 1633727 F & B SERVICE REVENUE 713910 800550 800550 RENOVATION ASSESSMENT 713910 196660 196660 ATHLETICS REVENUE 713910 130457 130457 ASSESSMENT - CAPITAL PROJECTS 713910 115844 115844 53869 53869 2931107 LOSS ON DEEMED SALE -22757 -22757 -22757 2908350 2908350 161072 161072 ADMINISTRATIVE EXPENSE 787190 787190 FOOD & BEVERAGE EXPENSE 609906 609906 COST OF SALES FOOD 259643 259643 ATHLETICS EXPENSE 242210 242210 142177 142177 2202198 1415008 787190 0 1285377 13397 52154 5943924 3324151 2619773 26064 10188 0 4006953 168140 1554381 0 1722521 X 1578280 706152 0 2284432 0 4006953 X 706152 1420951 X false false 399786 399786 4208332 2215595 1992737 2392523 X false false false TIM SHEPARDSON CLUB MANAGER 165000 165000 FORM 990 HISTORY OF CEDAR CREEK RACQUET CLUB, INC. CEDAR CREEK RACQUET CLUB, INC. WAS FORMED AUGUST 16, 1990, AS A MEMBERS ONLY SOCIAL CLUB. IT PROVIDES MEMBERS WITH A CLUBHOUSE, FOOD AND BEVERAGE, TENNIS AND PICKLE BALL COURTS, CROQUET COURT, SWIMMING, AND OTHER RELATED SERVICES. IT WAS A TAXABLE CORPORATION FILING FORM 1120 UNTIL MARCH 15, 2022. UNDER THE PROVISIONS OF IRC SECTION 277, MEMBERS EXPENSES WERE DEDUCTED TO THE EXTENT OF MEMBERS INCOME AND ANY EXCESS EXPENSE CARRIED FORWARD. NON-MEMBER INCOME LESS DIRECT EXPENSES WAS TAXABLE. THE CLUB HAS HAD LITTLE TO NO NON-MEMBER INCOME BECAUSE OF THE RESTRICTIONS ON MEMBERS USE ONLY. 2022 THE CLUB FILED FORM 1024 FOR RECOGNITION AS A TAX-EXEMPT ORGANIZATION UNDER IRC SECTION 501(C)(7). THIS WAS GRANTED EFFECTIVE MARCH 15, 2022 (SEE EXEMPTION LETTER ATTACHED). THE CLUB FILED A SHORT YEAR TAX RETURN FROM JANUARY 1, 2022 TO MARCH 14, 2022 AS A TAXABLE CLUB. IN THAT RETURN, IT RECOGNIZED A DEEMED SALE OF THE CLUB ASSETS UNDER IRC SECTION 337(D)(1) AND THE REGULATIONS THERE UNDER, BASED ON AN APPRAISAL BY A QUALIFIED APPRAISERS SPECIALIZING IN SOCIAL CLUBS. THIS RETURN ON FORM 990 THE INITIAL PERIOD AS A TAX-EXEMPT CLUB UNDER IRC SECTION 501(C)(7) AND IS FOR A SHORT YEAR OF MARCH 15, 2022 THROUGH DECEMBER 31, 2022. THE BEGINNING EQUITY REPORTED, CARRIED FROM THE BALANCE SHEET AT THE END OF THE SHORT PERIOD ENDED MARCH 14, 2022, FILED ON FORM 1120. THE PRIOR YEAR BALANCE SHEET ON THIS RETURN US BLANK AS THE SHORT YEAR ENDED DECEMBER 31, 2022, WAS THE FIRST YEAR AS A NONPROFIT. FORM 990, PAGE 2, PART III, LINE 4D DEPRECIATION ACCOMPLISHMENT 1 FORM 990, PAGE 6, PART VI, LINE 6 THE CLUB HAS MEMBERS. FORM 990, PAGE 6, PART VI, LINE 7A ALL MEMBERS HAVE CERTAN VOTING RIGHTS AS DESCRIBED IN THE BY-LAWS FORM 990, PAGE 6, PART VI, LINE 11B THE 990 IS REVIEWED BY THE FINANCE COMMITTEE AND THE TREASURER. FORM 990, PAGE 6, PART VI, LINE 12C ANNUALLY REQUIRED TO DISCLOSE INTERESTS THAT COULD GIVE RISE TO CONFLICTS OF INTEREST. THE CONFLICT OF INTEREST POLICY WAS ADOPTED JULY OF 2023. FORM 990, PAGE 6, PART VI, LINE 15A TRY TO VERIFY THAT COMPENSATION IS COMPARABLE TO OTHER CLUBS AND ORGANIZATION FORM 990, PAGE 6, PART VI, LINE 15B TRY TO ESTABLISH COMPARABLE TO OTHER IS LIKE POSITION IN THE AREA. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST FORM 990, PART VIII WE SHOW A CONFLICT OF INTEREST POLICY. IT WAS ADOPTED IN JULY OF 2023. FORM 990, PART XI, LINE 9 BOOK / TAX DEPRECIATION DIFFERENCE 4,081 BEGINNING BALANCE 1,416,870 TOTAL 1,420,951