2024-05-24T09:16:09-05:00 2023-08-31 540737372 PBMARES LLP 300 N 3RD ST 5TH FLOOR WILMINGTON NC 28401 990 2022-09-01 560163800 CAROLINA COUNTRY CLUB COMPANY CARO 9197873621 2500 GLENWOOD AVE RALEIGH NC 276081002 J MATTHEW CAPASSO CFO 9197873621 2024-05-21 1 J MATTHEW CAPASSO XXX-XX-XXXX 1 EDWARD T YODER CPA P00239134 9107629671 2024-05-21 X 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z JACK S SLAUGHTER 2500 GLENWOOD AVE RALEIGH NC 276081002 21441941 0 X WWW.CAROLINACC.NET X 1918 NC THE CLUB IS A PRIVATE SOCIAL CLUB. 10 10 392 65 930097 16982 119735 0 11996063 13246171 2120 -55847 4530622 5086334 16648540 18276658 0 0 0 0 10330384 11650656 0 0 0 7781838 7309188 18112222 18959844 -1463682 -683186 24863751 30045447 5773984 9031694 19089767 21013753 THE CLUB IS A PRIVATE SOCIAL CLUB 0 0 DINING ROOM AND GRILLE ROOM MAIN BAR AND GRILLE ROOM GOLF, TENNIS, SWIMMING, AND WELLNESS & YOUTH 0 0 0 0 0 0 0 0 0 1 0 0 1 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 48 0 1 392 1 1 1 0 0 0 1 1 0 1422482 0 0 0 X 10 10 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 0 1 1 0 NC X J MATTHEW CAPASSO 9197873621 2500 GLENWOOD AVE RALEIGH NC 27608 RONNIE BATCHELOR PRESIDENT 1.00 X X 0 0 0 SID ALDRIDGE EX-OFFICIO 1.00 X X 0 0 0 OWEN WILLIAMS SECRETARY 1.00 X X 0 0 0 JOHN CHURCH TREASURER 1.00 X X 0 0 0 JENNINGS GLENN VICE PRESIDENT 1.00 X X 0 0 0 DOROTHEA BITLER DIRECTOR 1.00 X 0 0 0 LIZ SANCHEZ DIRECTOR 1.00 X 0 0 0 TERRY MIKELS DIRECTOR 1.00 X 0 0 0 CHUCK PARKER DIRECTOR 1.00 X 0 0 0 WILLIAM PLYLER DIRECTOR 1.00 X 0 0 0 JACK S SLAUGHTER GENERAL MANAGER / COO 45.00 X 438091 0 54201 J MATTHEW CAPASSO CHIEF FINANCIAL OFFICER 45.00 X 191122 0 38712 DAMON GORE WELLNESS DIRECTOR 45.00 X 147144 0 25927 KYLE A JOHNSON GOLF COURSE SUPT. 45.00 X 265714 0 40022 THEORDORE C KIEGIEL GOLF PROFESSIONAL 45.00 X 347331 0 41374 WILLIAMS S CANNON TENNIS DIRECTOR 45.00 X 342069 0 39405 GUSTAVO C MUZZOLON ASST. GENERAL MGR. 45.00 X 190697 0 29383 PATRICK COLLEY EXECUTIVE CHEF 45.00 X 200379 0 38484 2122547 0 307508 8 0 1 0 CLANCY & THEYS CONSTRUCTION CO INC PO BOX 27608 RALEIGH NC 27611 GEREAL CONTRACTOR 3216531 US FOODS INC PO BOX 602211 CHARLOTTE NC 28260 FOOD SERVICE 995220 UNITED HEALTHCARE INSURANCE CO PO BOX 860511 MINNEAPOLIS MN 55489 HEALTH INSURANCE 924728 BOZEMAN CLUB & CORPORATE INT 456 EAST PACES FERRY RD NE ATLANTA GA 30305 DESIGN SERVICES 498179 HALPERNS' STEAK & SEAFOOD PO BOX 84943 CHICAGO IL 60689 FOOD SERVICES 392216 27 MEMBERSHIP FEES 713910 11020616 11020616 GROUNDS & GOLF FEE 713910 1016386 867003 149383 TENNIS/SWIMMING 713910 748504 728500 20004 WELLNESS & YOUTH 713910 460665 460665 13246171 55847 -55847 -55847 -55847 7239020 3109436 4129584 3368874 760710 ERC INCOME 713910 828002 828002 MINIMUM CHARGES AND OTHER 713910 128748 128748 956750 18276658 17346561 930097 0 558974 9113845 1262426 715411 139537 49141 105297 26395 870888 71819 4788 2269072 107377 GOLF COURSE MAINTENANCE 729812 MAINTENANCE & REPAIRS 683199 SUPPLIES 604926 MISCELLANEOUS 382791 1264146 18959844 1003105 709622 915397 1000671 488379 684385 241715 285029 55827804 31683856 20696098 24143948 1519057 3221792 24863751 30045447 2316349 2063332 927239 1759878 4437982 1697757 1603141 5773984 9031694 X 165350 165050 7422237 7424087 11502180 13424616 19089767 21013753 24863751 30045447 X -683186 2607172 X X 0 1 X 1 0 664320 664320 25767305 15641026 10126279 17579036 10936327 6642709 6874673 5106503 1768170 4942470 4942470 24143948 OPERATING LEASE ASSETS 1488896 457B PLAN ASSETS 1732896 3221792 LEASE LIABILITY 1603141 1603141 X 21386094 0 21386094 -3109436 -3109436 18276658 22069280 3109436 3109436 18959844 0 18959844 PART X, LINE 2: MANAGEMENT EVALUATED THE CLUB'S TAX POSITIONS AND CONCLUDED THAT THE CLUB HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC). PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -3,109,436. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 3,109,436. X 0 1 X 0 1 0 JACK S SLAUGHTER GENERAL MANAGER / COO 347932 0 68144 0 22015 0 27811 0 26390 0 492292 0 0 0 THEORDORE C KIEGIEL GOLF PROFESSIONAL 192997 0 29291 0 125043 0 14984 0 26390 0 388705 0 0 0 WILLIAMS S CANNON TENNIS DIRECTOR 113656 0 17294 0 211119 0 15100 0 24305 0 381474 0 0 0 KYLE A JOHNSON GOLF COURSE SUPT. 226824 0 29762 0 9128 0 13632 0 26390 0 305736 0 0 0 PATRICK COLLEY EXECUTIVE CHEF 167857 0 23394 0 9128 0 12265 0 26219 0 238863 0 0 0 J MATTHEW CAPASSO CHIEF FINANCIAL OFFICER 165532 0 25590 0 0 0 12322 0 26390 0 229834 0 0 0 GUSTAVO C MUZZOLON ASST. GENERAL MGR. 151445 0 30124 0 9128 0 12131 0 17252 0 220080 0 0 0 DAMON GORE WELLNESS DIRECTOR 87794 0 12955 0 46395 0 2346 0 23581 0 173071 0 0 0 PART I, LINE 1A TRAVEL EXPENSES WERE PAID FOR A TRAVEL COMPANION FOR THE FOLLOWING INDIVIDUALS: JACK S. SLAUGHTER, GENERAL MANAGER GUSTAVO MUZZOLON, ASSISTANT GENERAL MANAGER THE BENEFITS ARE TREATED AS TAXABLE COMPENSATION TO THE EMPLOYEES. PART I, LINE 1B TRAVEL EXPENSES ARE PAID FOR THE GENERAL MANAGER AND A TRAVEL COMPANION BASED ON THE PROVISIONS SET FORTH IN HIS EMPLOYMENT AGREEMENT. TRAVEL EXPENSES FOR COMPANIONS FOR ANY OTHER EMPLOYEES ARE APPROVED BY THE GENERAL MANAGER. PART I, LINE 4B JACK S. SLAUGHTER, GENERAL MANAGER, IS A PARTICIPANT IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT 457(F) PLAN. THIS IS AN UNFUNDED PLAN. UPON RETIREMENT AT AGE 65, VESTING WILL BECOME 100%. UP UNTIL THAT TIME, VESTING IS ZERO. NO PAYMENTS WERE MADE DURING THE YEAR. PART I, LINE 5 CERTAIN INDIVIDUALS IN THE GOLF AND TENNIS DEPARTMENT GET PAID COMMISSIONS ON THE SALES OF THAT DEPARTMENT PART I, LINE 6 JACK S. SLAUGHTER, GENERAL MANAGER, IS COMPENSATED BASED ON CERTAIN CRITERIA OF THE CLUB. SOME OF THE CRITERIA IS BASED ON NET EARNINGS AND OTHER FINANCIAL METRICS FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS WHO PAY MONTHLY MEMBERSHIP DUES. THE ORGANIZATION HAS CLASS A AND CLASS B COMMON STOCK. 5 SHARES OF CLASS A STOCK WERE ISSUED AND OUTSTANDING AND 3,345 SHARES OF CLASS B STOCK WERE ISSUED AND OUTSTANDING. FORM 990, PART VI, SECTION A, LINE 7A THE CLUB'S MEMBERS ELECT THE BOARD OF DIRECTORS AT AN ANNUAL SHAREHOLDER MEETING BY VOTING THEIR SHARES IN PERSON OR BY PROXY. FORM 990, PART VI, SECTION A, LINE 8B THE COMMITTEES ONLY ACT IN AN ADVISORY CAPACITY AND DO NOT HAVE AUTHORITY TO ACT OR BIND THE CLUB LEGALLY. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE CONTROLLER AND THE TREASURER. THE BOARD IS THEN PROVIDED A COPY OF THE 990 BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CLUB REQUIRES ALL DIRECTORS TO FILL OUT AND SIGN A WRITTEN CONFLICT OF INTEREST POLICY ANNUALLY. THE BOARD ALSO DISCUSSES ANYTIME A POSSIBLE CONFLICT OF INTEREST ARISES. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD AND THE GENERAL MANAGER SET GOALS FOR THE UPCOMING YEAR. THE GENERAL MANAGER IS THEN EVALUATED ON HOW WELL THOSE GOALS WERE MET AND IS SCORED IN SPECIFIC AREAS. FINANCIAL BONUSES AND COMPENSATION ARE DEPENDENT UPON THE OVERALL SCORE. THE BOARD APPROVES BONUS PLANS AND SALARIES FOR KEY EMPLOYEES AS RECOMMENDED BY THE GENERAL MANAGER EACH YEAR. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: INITIATION FEES AND INTEREST INCOME 2,305,117. CHANGE IN INITION FEES RECEIVABLE 300,505. REDEEMED STOCK 1,550. FORM 990 PART XII LINE 2C NO CHANGE FROM PRIOR YEAR.