2025-12-23T10:26:13-06:00 2025-04-30 860985325 LOHMAN COMPANY PLLC 1630 S STAPLEY DR SUITE 110 MESA AZ 85204 990 2024-05-01 860912115 TERRAVITA COUNTRY CLUB INC TERR 4804883456 34034 NORTH 69TH WAY SCOTTSDALE AZ 85266 RAY TENNISON TREASURER 4804883456 2025-12-22 1 1 DENNIS M HARE P01241957 4803551100 2025-12-22 2024 2025-03-06 01:10:19Z DUANE FURUKAWA 34034 NORTH 69TH WAY SCOTTSDALE AZ 85266 10146075 0 X WWW.TERRAVITA.COM X 1998 AZ TO PROVIDE SOCIAL & RECREATIONAL ACTIVITIES FOR MEMBERS. 7 7 0 50 382518 128396 0 0 5074578 5920151 70683 137071 1240907 977953 6386168 7035175 0 0 0 0 3117114 3353599 0 0 0 2772028 2724381 5889142 6077980 497026 957195 18410584 19158171 4394625 4174414 14015959 14983757 TO PRESERVE, ENHANCE AND EXPAND THE SERVICES, FUNCTIONS AND PHYSICAL FACILITIES PROVIDED FOR OUR MEMBERS WITH THE APPROPRIATE FISCAL RESPONSIBILITY. THE QUALITY OF THE CLUB EXPERIENCE IS OUR FIRST PRIORITY. 0 0 TO PROVIDE SOCIAL & RECREATIONAL ACTIVITIES TO APPROXIMATELY 1,380 MEMBERSHIPS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 22 0 1 0 1 1 0 0 0 0 2110200 245447 0 0 0 X 7 7 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 0 1 0 0 0 X THE ORGANIZATION 4804883456 34034 N 69TH WAY SCOTTSDALE AZ 85266 X MICHAEL WEINER VICE PRESIDENT 2.00 X X 0 0 0 BILL GREIG TREASURER 2.00 X 0 0 0 SHARON FOSTER SECRETARY 2.00 X 0 0 0 DUANE FURUKAWA DIRECTOR 2.00 X X 0 0 0 MICHAEL GASS DIRECTOR 2.00 X 0 0 0 JON FARIS DIRECTOR 2.00 X 0 0 0 GARY GEMOLL PRESIDENT 5.00 X X 0 0 0 0 0 0 0 0 0 0 TROON 15044 N SCOTTSDALE RD 300 SCOTTSDALE AZ 85254 MANAGEMENT FEES 114304 1 OTHER DUES/INCOME 713910 3746101 3746101 MEMBER ASSESSMENTS-BOARD DESIGNAT 713910 2110200 2110200 TRANSFER FEES 713910 63850 63850 5920151 68286 68286 1950000 1881215 68785 68785 68785 1759596 1229685 529911 529911 NONMEMBER REVENUE 713910 245447 245447 FITNESS FEES 713910 176151 176151 OTHER INCOME 713910 26444 26444 448042 7035175 6652657 382518 0 2817393 279081 257125 114304 7727 50695 599 733 9722 77081 55170 32179 163074 1018479 103601 UTILITIES 230000 SUPPLIES 168732 MEMBER RELATIONS 157710 CONTRACT LABOR AND SERV 145933 388642 6077980 539673 452558 168286 446448 808052 751329 80891 96133 52511 77725 25180483 11664131 14214245 13516352 2301644 3635031 245282 182595 18410584 19158171 495244 471528 3899381 3702886 4394625 4174414 X 11546029 10902278 2469930 4081479 14015959 14983757 18410584 19158171 957195 10603 0 X X 0 1 X 1 0 2253080 2253080 14262033 5736982 8525051 4629977 3037651 1592326 4035393 2889498 1145895 13516352 MUTUAL FUNDS - BOARD DESIGNATED 3635031 F 3635031 CAPITAL LEASE PAYABLE 157099 DEFERRED COUNTRY CLUB DUES 436080 CONSTRUCTION LOAN PAYABLE 3109707 3702886 X 7045778 10603 10603 7035175 0 7035175 6077980 0 6077980 0 6077980 PART X, LINE 2: THE CLUB HAS RECEIVED FROM THE INTERNAL REVENUE SERVICE AN EXEMPTION FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE FOR EXEMPT FUNCTION INCOME RECEIVED. IT HAS BEEN CLASSIFIED AS "OTHER THAN A PRIVATE FOUNDATION." A PROVISION IS MADE IN THE FINANCIAL STATEMENTS FOR INCOME TAXES ON UNRELATED TRADE OR BUSINESS INCOME EARNED, WHEN APPLICABLE. NO SIGNIFICANT TIMING OR OTHER DIFFERENCE THAT WOULD RESULT IN A MATERIAL DEFERRED INCOME TAX LIABILITY EXISTS. EXEMPT INCOME CONSISTS OF REVENUES RECOGNIZED WHICH RELATE TO THE CLUB'S EXEMPT PURPOSE. NON-EXEMPT INCOME GENERALLY CONSISTS OF SERVICES PROVIDED TO AND FEES COLLECTED FROM NON-MEMBERS OF THE CLUB, RENT AND INTEREST INCOME NET OF RELATED EXPENSES. CLUBS EXEMPT UNDER 501(C)(7) MAY RECEIVE UP TO 35% OF THEIR GROSS RECEIPTS FROM SOURCES OUTSIDE THEIR MEMBERSHIP, BUT NOT MORE THAN 15% OF GROSS RECEIPTS FROM THE USE OF THE CLUB'S FACILITIES. GROSS RECEIPTS FROM THE USE OF THE CLUB'S FACILITIES BY NON-MEMBERS FOR THE YEAR ENDED APRIL 30, 2025 WAS APPROXIMATELY 4.85% OF GROSS RECEIPTS. FOR THE YEAR ENDED APRIL 30, 2025, THE CLUB HAD NET INVESTMENT INCOME OF APPROXIMATELY $133,000. CLUBS EXEMPT UNDER 501(C)(7) CANNOT APPLY NON-MEMBER LOSSES AGAINST INVESTMENT INCOME WHEN CALCULATING NET UNRELATED BUSINESS INCOME. THE CLUB ADOPTED THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT EVALUATED THE CLUB'S TAX POSITIONS AND CONCLUDED THAT THE CLUB HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE ACCOMPANYING FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION HAS DELEGATED CONTROL OVER MANAGEMENT DUTIES TO A MANAGEMENT COMPANY IN REPLACEMENT OF UTILIZING ORGANIZATION EMPLOYEES. ALL FINANCIALS AND REPORTING IS STILL REVIEWED BY THE OFFICERS AND DIRECTORS OF TERRAVITA COUNTRY CLUB (FINANCE COMMITTEE AND BOARD OF DIRECTORS). FORM 990, PART VI, SECTION A, LINE 6 THE CORPORATION HAS ONE (1) CLASS OF MEMBERS. THE MEMBERS OF THE CORPORATION SHALL BE THOSE INDIVIDUALS WHO ARE OF LEGAL AGE WHO PURCHASE OR HAVE A BENEFICIAL INTEREST IN A RESIDENCE WITHIN THE COMMUNITY. EACH MEMBER IS ENTITLED TO ONE (1) VOTE. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE ORGANIZATION ELECT THE MEMBERS OF THE BOARD OF DIRECTORS AND VOTE ON CERTAIN SIGNIFICANT DECISIONS. FORM 990, PART VI, SECTION A, LINE 7B CLUB MEMBERS ARE ENTITLED TO VOTE IN ORDER TO ELECT BOARD OF DIRECTORS, APPROVE ANY AMENDMENTS, ALTERATION OR REPEAL OF THE CORPORATION'S BYLAWS OR ARTICLES OF INCORPORATION, AND THE DISTRIBUTION OF THE ASSETS OF THE CORPORATION UPON SALE OR DISSOLUTION OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE FORMS 990 AND 990-T ARE REVIEWED BY THE BOARD PRESIDENT AND THE FINANCE COMMITTEE CHAIR, THEN ALL MEMBERS OF THE BOARD OF DIRECTORS RECEIVED A COPY OF FORM 990 & 990-T VIA EMAIL. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION PROVIDES THEIR CONFLICT OF INTEREST POLICY WITHIN THE EMPLOYEE HANDBOOK. THIS STATES THAT ANY CONFLICT OF INTEREST MUST BE BROUGHT TO THE ATTENTION OF THE ADMINISTRATION OFFICE. ANY CONFLICT OF INTEREST NOT PROPERLY DISCLOSED COULD RESULT IN TERMINATION. FORM 990, PART VI, SECTION B, LINE 15 THE MANAGEMENT COMPANY HIRES AND REVIEWS SALARIES. ANY INCREASES ARE CLEARLY LAID OUT IN THE BUDGET PROCESS THAT THE BOARD OF DIRECTORS APPROVES. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE FOR REVIEW ON THE ORGANIZATION'S WEBSITE TO MEMBERS ONLY. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST TO MEMBERS ONLY AND NOT AVAILABLE TO THE GENERAL PUBLIC. CONTACT INFORMATION IS AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XII, LINE 2C: NO CHANGE HAS BEEN MADE TO THE OVERSIGHT OR SELECTION PROCESS FROM THE PRIOR YEAR.