2025-11-12T17:38:27-06:00 2024-12-31 934739451 PPCO ADVISORS LLC 333 W SANTA CLARA ST SUITE 800 SAN JOSE CA 951131716 990 2024-01-01 940615130 LAKE MERCED GOLF CLUB LAKE 6507752233 2300 JUNIPERO SERRA BLVD DALY CITY CA 94015 KIMBERLY WILCOX CONTROLLER 6507552233 2025-11-12 1 1 JOHN KAWAMOTO P00476783 4082877911 2024 2025-03-06 01:10:19Z WILSON LEUNG 2300 JUNIPERO SERRA BLVD DALY CITY CA 94015 16143569 0 X WWW.LMGC.ORG X 1922 CA TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION. 9 9 183 9 1458756 68077 0 0 13440601 12635561 -13542 90529 1984698 1977228 15411757 14703318 0 0 0 0 7344965 7772363 0 0 0 6653344 6184514 13998309 13956877 1413448 746441 31967420 30677080 17432605 15395824 14534815 15281256 X THE ORGANIZATION IS AN EXEMPT SOCIAL CLUB UNDER IRC SECTION 501(C)(7) WHOSE PROGRAM SERVICE ACTIVITIES ARE ORGANIZED & OPERATED SUBSTANTIALLY FOR THE PLEASURE & RECREATION OF ITS MEMBERS. ALL PROGRAMS OF THE CLUB ARE RELATED TO THE PURPOSE OF PROVIDING SOCIAL & RECREATIONAL BENEFITS TO ITS MEMBERS. 0 0 SOCIAL AND RECREATIONAL PROGRAMS. SEE ORGANIZATION'S MISSION STATEMENT. 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 57 0 1 183 1 1 1 0 0 0 1 1 2173425 1810142 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 0 1 1 1 1 0 X KIM WILCOX 6507552233 2300 JUNIPERO SERRA BLVD DALY CITY CA 94015 JEFFREY YEE VICE PRESIDENT 1.00 X X 0 0 0 KEVIN BALDWIN DIRECTOR 1.00 X 0 0 0 JARED POTTER SECRETARY 1.00 X X 0 0 0 CLIFFORD LAI CFO 1.00 X X 0 0 0 WILSON LEUNG PRESIDENT 1.00 X X 0 0 0 KIP JONES DIRECTOR 1.00 X 0 0 0 MARK CAMPION DIRECTOR 1.00 X 0 0 0 PAUL LEUNG DIRECTOR 1.00 X 0 0 0 ADAM STALEY DIRECTOR 1.00 X 0 0 0 NICK BAILEY GENERAL MANAGER 40.00 X 465362 0 43124 MATTHEW DACHOWSKI GOLF COURSE SUPERINTENDENT 40.00 X 363857 0 32379 PATRICK STEFFES HEAD GOLF PROFESSIONAL 40.00 X 288449 0 17227 ROBERT MAZER FOOD AND BEVERAGE MANAGER 40.00 X 156268 0 16308 BRIAN PAUL MEMBERSHIP DIRECTOR 1.00 X 143796 0 6996 KIMBERLY WILCOX CONTROLLER 40.00 X 138681 0 9836 1556413 0 125870 13 0 1 0 0 MEMBER DUES & ASSESSMENTS 713910 7007358 7007358 INITIATION AND TRANSFER FEES 713910 2173425 2173425 CAPITAL DUES 713910 1673709 1673709 GOLF OPERATION 713910 1281069 668294 612775 CLUBHOUSE RENOVATION 713910 500000 500000 12635561 113197 36006 77191 8011 30679 -22668 -22668 -22668 3251742 1409572 1842170 1073380 768790 OTHER INCOME 713910 135058 135058 135058 14703318 13267230 1458756 -22668 X 508486 5399166 1425183 439528 232752 514542 2046545 98382 INCOME TAXES 12014 GOLF CART LEASE AND SPE 712163 GOLF COURSE 442803 PAYMENT TO RESIGNED MEM 435000 1690313 13956877 716574 290211 989826 801851 1308297 1684395 1589536 1222569 283438 295378 234401 157510 40190277 14722126 26189144 25468151 656204 757015 31967420 30677080 1307249 807064 962006 1109535 14491522 12105284 671828 1373941 17432605 15395824 X 14534815 15281256 14534815 15281256 31967420 30677080 746441 0 X X 0 1 X 1 0 244873 244873 18251322 8580933 9670389 3368268 2460564 907704 18325814 3680629 14645185 25468151 REFUNDABLE ASSESSMENT-IRRIGATION FUND 28000 FINANCE LEASE OBLIGATIONS 684173 OPERATING LEASE OBLIGATIONS 661768 1373941 X 16112890 1409572 1409572 14703318 0 14703318 15366449 1409572 1409572 13956877 0 13956877 PART X, LINE 2: THE CLUB IDENTIFIES AND EVALUATES ALL UNCERTAIN TAX POSITIONS AND BELIEVES ALL POSITIONS TAKEN BY THE CLUB ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION FOR ALL OPEN TAX YEARS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 1,409,572. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 1,409,572. X X X X 0 0 0 NICK BAILEY GENERAL MANAGER 316662 0 125700 0 23000 0 18679 0 24445 0 508486 0 0 0 MATTHEW DACHOWSKI GOLF COURSE SUPERINTENDENT 302107 0 32750 0 29000 0 12622 0 19757 0 396236 0 0 0 PATRICK STEFFES HEAD GOLF PROFESSIONAL 236107 0 38000 0 14342 0 14342 0 2885 0 305676 0 0 0 ROBERT MAZER FOOD AND BEVERAGE MANAGER 124760 0 22750 0 8758 0 7881 0 8427 0 172576 0 0 0 BRIAN PAUL MEMBERSHIP DIRECTOR 98046 0 22750 0 23000 0 6741 0 255 0 150792 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CLUB IS A PRIVATE MEMBER-OWNED CLUB THAT IS OWNED AND OPERATED FOR THE PLEASURE AND RECREATION OF ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A PROPRIETARY MEMBERS MAY PARTICIPATE IN THE ELECTION OF OFFICERS AND DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING ACTIONS REQUIRES THE MEMBERS' APPROVAL: -FILLING VACANCIES ON THE BOARD -REMOVAL OF A DIRECTOR WITHOUT CAUSE -AMENDING THE ARTICLES OF INCORPORATION -APPROVAL OF ANY RELATED PARTY TRANSACTION -ELECTION TO DISSOLVE THE ORGANIZATION FORM 990, PART VI, SECTION B, LINE 11B THE CONTROLLER AND CFO REVIEW THE FORM 990 AND COMPARE IT TO THE ANNUAL AUDITED FINANCIAL STATEMENTS. ONCE VERIFIED, THE CONTROLLER NOTIFIES THE BOARD OF DIRECTORS THAT THE RETURN IS AVAILABLE FOR THEIR REVIEW BEFORE BEING FILED. FORM 990, PART VI, SECTION B, LINE 15 THE CLUB'S COMPENSATION COMMITTEE WHICH CONSISTS OF THE CFO, PRESIDENT AND SECRETARY REVIEW AND APPROVE THE COMPENSATON FOR THE GENERAL MANAGER AND KEY MANAGEMENT EMPLOYEES, TAKING INTO CONSIDERATION COMPARBLE DATA IN THE APPROVAL PROCESS. FORM 990, PART VI, SECTION C, LINE 19 CLUB USES AUDIT FIRM TO TO PREPARE FINANCIAL STATEMENTS. THESE ARE AVAILABLE AT THE OFFICE UPON REQUEST AND ON THE CLUB'S WEBSITE. THE CLUB PUTS TOGETHER AN ANNUAL REPORT, WHICH IS DISTRIBUTED TO ALL MEMBERS AND IS AVAILABLE TO THE PUBLIC AT THE OFFICE. FORM 990, PART IX, LINE 24E ADMINISTRATIVE AND GENERAL 425,072. FOOD AND BEVERAGE 401,272. UTILITIES 351,743. CLUBHOUSE 273,132. GOLF OPERATION 225,519. LOCKER ROOM AND LAUNDRY 22,580. PRESENT VALUE DISCOUNT ON NOTE RECEIVABLE -9,005. FORM 990, PART XII, LINE 2C: NO CHANGES FROM PRIOR YEAR.