2023-11-08T07:59:51-06:00 2022-12-31 882730877 CHERRY BEKAERT ADVISORY LLC 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2022-01-01 560226706 FORSYTH COUNTRY CLUB FORS 3367680220 3101 COUNTRY CLUB ROAD WINSTONSALEM NC 27104 P LEE SMITH JR COO 3367680220 2023-11-03 1 P LEE SMITH JR 999009999 1 PAULA WENDLING P00536805 7043771678 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z P LEE SMITH JR 3101 COUNTRY CLUB ROAD WINSTONSALEM NC 27104 16502045 0 X WWW.FORSYTHCC.ORG X 1913 NC PRIVATE SOCIAL CLUB OPERATING FOR THE RECREATIONAL AND SOCIAL PURPOSES OF ITS MEMBERS. 9 9 280 0 1048775 55188 35000 0 11198246 14379172 170036 -29913 1813475 1419347 13216757 15768606 0 0 0 0 5530077 6801750 0 0 0 5636224 6050560 11166301 12852310 2050456 2916296 21426181 25434688 8033631 9242200 13392550 16192488 PRIVATE SOCIAL CLUB OPERATING FOR THE RECREATIONAL AND SOCIAL NEEDS OF ITS MEMBERS. ACTIVITIES INCLUDE GOLF, TENNIS, SWIMMING, FITNESS CENTER AND DINING. 0 0 GOLF COURSE, GOLF SHOP AND GOLF TOURNAMENTS SERVING APPROXIMATELY 995 MEMBERS. FITNESS CENTER, TENNIS COURTS AND TENNIS TOURNAMENTS SERVING APPROXIMATELY 995 MEMBERS. SWIMMING POOL SERVING APPROXIMATELY 995 MEMBERS. CLUBHOUSE ACTIVITIES INCLUDING ON-SITE FOOD AND BEVERAGE SERVICES SERVING APPROXIMATELY 995 MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 55 0 1 280 1 1 1 0 0 0 0 2240976 988827 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X KYLE SLAGLE 3362316722 3101 COUNTRY CLUB ROAD WINSTONSALEM NC 27104 RUSS TOWNER PRESIDENT 5.00 X X 0 0 0 TIM NERHOOD VICE PRESIDENT 5.00 X X 0 0 0 CARTER STURKIE SECRETARY/TREASURER 5.00 X X 0 0 0 ROB KING DIRECTOR 5.00 X 0 0 0 MICHELLE CLIFTON DIRECTOR 5.00 X 0 0 0 WILL DOSS II DIRECTOR 5.00 X 0 0 0 DR JOHN FAGG DIRECTOR 5.00 X 0 0 0 SAMANTHA HOLLACK DIRECTOR 5.00 X 0 0 0 JOSH CRANE DIRECTOR 5.00 X 0 0 0 PAUL LEE SMITH JR CHIEF OPERATING OFFICER 55.00 X 291708 0 25353 KYLE W SLAGLE CHIEF FINANCIAL OFFICER 45.00 X 130193 0 14781 MATTHEW JONES GOLF COURSE SUPERINTENDENT 45.00 X 178341 0 12017 ADAM THOMSON HEAD TENNIS PROFESSIONAL 45.00 X 132901 0 16395 BLAIR CANNON EXECUTIVE CHEF 45.00 X 134263 0 9750 CHASE ADAMS HEAD GOLF PROFESSIONAL 45.00 X 153341 0 11133 REBECCA ROSS ASSISTANT GENERAL MANAGER 45.00 X 112708 0 5666 1133455 0 95095 7 0 1 0 NEW ATLANTIC CONTRACTING INC 2635 REYNOLDA ROAD WINSTONSALEM NC 27106 CONSTRUCTION 3570720 SUSAN BOZEMAN DESIGNS - BOZEMAN CLUB & C 456 EAST PACES FERRY ROAD NE ATLANTA GA 30305 CONSTRUCTION 777042 PDC INC 1500 PINECROFT RD SUITE 200 GREENSBORO NC 27407 CONSTRUCTION 333293 WALTER ROBBS ARCHITECTS 530 NORTH TRADE STREET SUITE 301 WINSTONSALEM NC 27101 CONSTRUCTION 145701 ACE-HTI 1460 HAMPTON PLAZA DRIVE SUITE E KERNERSVILLE NC 27284 CONSTRUCTION 129668 5 MEMBERSHIP DUES 713910 9911806 9911806 FOOD AND BEVERAGE 713910 3274719 2480609 794110 GOLF REVENUE 713910 642921 453738 189183 POOL & FITNESS REVENUE 713910 423105 420388 2717 CHILDCARE & CAMP REVENUE 713910 87671 87671 38950 38950 14379172 60179 60179 3441 33158 3671 123020 -230 -89862 -90092 -230 -89862 799906 606748 193158 193158 INITIATION FEES 713910 1222815 1222815 GUEST FEES 713910 2816 2816 OTHER INCOME 713910 558 558 1226189 15768606 14809693 1048775 -89862 462036 5471596 64535 358486 445097 850 37053 3441 90279 2167 333396 70362 579215 62159 168936 1501829 176453 FOOD & BEVERAGE 1346298 REPAIRS, MAINT & EQUIP 1025971 HOSPITALITY EXPENSE 336995 GOLF COURSE EXPENSES 99939 215217 12852310 2927 7017 2187919 1051447 1818513 1415745 2261878 2256714 486571 599005 34986 22316 35165665 15795843 13983878 19369822 649509 623061 0 89561 21426181 25434688 828866 1978528 838715 935648 5716541 5615402 649509 712622 8033631 9242200 X 13392550 16192488 13392550 16192488 21426181 25434688 X 2916296 -114458 -1900 X 0 1 X 1 0 1232737 1232737 14707556 8353669 6353887 7270064 4129286 3140778 11955308 3312888 8642420 19369822 DEFERRED COMPENSATION PAYABLE 623061 CAPITAL LEASE OBLIGATIONS 89561 712622 X 16257455 -114458 -114458 16371913 3441 -606748 -603307 15768606 13457517 608648 608648 12848869 3441 3441 12852310 PART X, LINE 2: THE CLUB IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE ("IRC"). IN ACCORDANCE WITH IRC REGULATIONS, THE CLUB IS TAXED ON UNRELATED BUSINESS INCOME, WHICH CONSISTS PRINCIPALLY OF INVESTMENT INCOME AND EARNINGS FROM ACTIVITIES WHICH ARE NOT RELATED TO THE EXEMPT PURPOSE OF THE CLUB. THE CLUB ACCOUNTS FOR TAX UNCERTAINTIES BASED ON A MORE LIKELY THAN NOT RECOGNITION THRESHOLD WHEREBY TAX BENEFITS ARE ONLY RECOGNIZED WHEN THE CLUB BELIEVES THAT THEY HAVE A GREATER THAN 50% LIKELIHOOD OF BEING SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE CLUB HAS EVALUATED ALL ITS TAX POSITIONS AND DETERMINED THAT IT HAD NO MATERIAL UNCERTAIN INCOME TAX POSITIONS AS OF DECEMBER 31, 2022 AND 2021. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF INVENTORY SALES SHOWN NET OF REVENUE ON 990 -606,748. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN REFUNDABLE MEMBERSHIP CERTIFICATES 1,900. COST OF INVENTORY SALES SHOWN NET OF REVENUE ON 990 606,748. X 1 1 X X X X 0 0 0 PAUL LEE SMITH JR CHIEF OPERATING OFFICER 243708 0 31000 0 17000 0 9076 0 16277 0 317061 0 0 0 MATTHEW JONES GOLF COURSE SUPERINTENDENT 163134 0 7707 0 7500 0 5521 0 6496 0 190358 0 0 0 CHASE ADAMS HEAD GOLF PROFESSIONAL 114489 0 38852 0 0 0 4922 0 6211 0 164474 0 0 0 PART I, LINE 1A THE CLUB SHALL EXPEND IN EACH CALENDAR YEAR, UP TO, BUT NOT EXCEEDING, $1,500 FOR EXPENSES INCURRED BY THE MANAGER'S SPOUSE WHEN ACCOMPANYING THE MANAGER TO CMAA MEETINGS. THE SPOUSE'S ATTENDANCE AT THE CMAA MEETINGS SERVES A BONA FIDE BUSINESS PURPOSE. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS THE FOLLOWING CLASSES OF MEMBERSHIP: RESIDENT, SENIOR, ORIGINATING SENIOR, HOUSE, SENIOR HOUSE, PAVILION, NON-RESIDENT, COMPLIMENTARY AND HONORARY. FORM 990, PART VI, SECTION A, LINE 7A ONLY MEMBERS OF THE RESIDENT AND SENIOR MEMBER CLASS SHALL HAVE THE RIGHT TO CAST A VOTE AT THE MEETING OF MEMBERS TO ELECT THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN ACTIONS OF THE BOARD MAY BE SUBJECT TO APPROVAL BY THE MEMBERSHIP OF THE CLUB, ACCORDING TO THE BY-LAWS OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS REVIEWS THE TAX RETURN, WHICH IS PROVIDED TO THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS MUST REVIEW AND SIGN OFF THAT THEY ARE AWARE OF THE CONFLICT OF INTEREST POLICY AND WILL ADHERE TO THE POLICY ON AN ANNUAL BASIS. DURING THE YEAR, MEMBERS WITH CONFLICTS MUST RECUSE THEMSELVES FROM ALL DISCUSSIONS AND VOTING. FORM 990, PART VI, SECTION B, LINE 15 ALL COMPENSATION IS DETERMINED BY AN INDEPENDENT COMPENSATION COMMITTEE THAT MEETS ANNUALLY. THE PROCESS OF DETERMINING COMPENSATION INCLUDES, BUT IS NOT LIMITED TO, A COMPENSATION STUDY OR SURVEY. THE COMPENSATION COMMITTEE REVIEWS MARKET DATA COMPILED BY BOTH THE CLUB MANAGERS ASSOCIATION OF AMERICA AS WELL AS THE HOSPITALITY FINANCIAL AND TECHNOLOGY PROFESSIONALS IN ORDER TO COMPARE THE SALARIES AND BENEFITS OF THE OFFICERS AND EMPLOYEES OF THE ORGANIZATION. ALL DECISIONS OF THE COMPENSATION COMMITTEE ARE DOCUMENTED IN MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: REDEMPTION OF MEMBERSHIPS -1,900.