2025-11-13T08:31:04-06:00 2024-12-31 540737372 PBMARES LLP 4114 LEGATO ROAD 5TH FLOOR FAIRFAX VA 22033 990 2024-01-01 560507966 CARMEL COUNTRY CLUB INC CARM 7049459630 4735 CARMEL ROAD CHARLOTTE NC 28226 STEPHANIE ANDERSON CHIEF FINANCIAL OFFICER 7049453323 2025-11-07 1 0 EDWARD T YODER CPA P00239134 7035915200 2025-11-07 X 2024 2025-03-06 01:10:19Z STEPHANIE ANDERSON 4735 CARMEL ROAD CHARLOTTE NC 28226 42190976 0 X CARMELCOUNTRYCLUB.ORG X 1947 NC TO PROMOTE SOCIAL INTERACTION & RECREATION FOR THE BENEFIT OF ITS MEMBERS. 12 12 539 95 3489835 278130 0 0 25872737 29100290 198534 282671 6289464 7131506 32360735 36514467 0 0 0 0 18320669 19225695 0 0 0 13555423 13419666 31876092 32645361 484643 3869106 54747485 53291409 17911900 12108114 36835585 41183295 TO PROMOTE SOCIAL INTERACTION & RECREATION FOR THE BENEFIT OF ITS MEMBERS. 0 0 THE CLUB PROVIDES FACILITIES SUCH AS TENNIS COURTS,GOLF COURSES, SWIMMING POOLS AND DINING ROOMS TO ITS 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 1 146 0 1 539 1 1 1 0 0 0 1 1 6237652 4254116 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X STEPHANIE ANDERSON 7049453323 4735 CARMEL ROAD CHARLOTTE NC 28226 DANN SMITH PRESIDENT 10.00 X X 0 0 0 CLIFTON COBLE VICE PRESIDENT 5.00 X X 0 0 0 MARINA MAVRAKIS TREASURER 10.00 X X 0 0 0 JEFF BRIGHTON SECRETARY 5.00 X X 0 0 0 EVAN BASS VICE PRESIDENT 5.00 X X 0 0 0 MIKE FOX DIRECTOR 1.00 X 0 0 0 PETER BRENNAN DIRECTOR 1.00 X 0 0 0 MARK HOGAN DIRECTOR 1.00 X 0 0 0 BRIAN DANNEMANN DIRECTOR 1.00 X 0 0 0 ALI ELAASAR DIRECTOR 1.00 X 0 0 0 STEVE BOLAND DIRECTOR 1.00 X 0 0 0 BRIAN BROWN DIRECTOR 1.00 X 0 0 0 JOHN NORMAN DIRECTOR 1.00 X 0 0 0 BILL HAMEL ADVISOR/EX OFFICIO 1.00 X 0 0 0 JASON MILLS DIRECTOR OF GOLF 50.00 X 281820 0 41715 DONALD GOODRICH COURSE SUPERINTENDANT 50.00 X 305121 0 33390 RICHARD LANCASTER CONTROLLER 50.00 X 207687 0 36857 STEPHEN SEFCHICK DIRECTOR OF FITNESS 50.00 X 153762 0 14897 CLARK HOWELL DIRECTOR OF TENNIS 50.00 X 229932 0 32164 AARON DAWSON GENERAL MANAGER 50.00 X 512889 0 38550 MARK WOOD DIRECTOR OF INSTRUCTION 50.00 X 264801 0 41213 NICOLE GUY CLUBHOUSE MANAGER 50.00 X 234933 0 36316 ALEKSANDAR MARKOV ASSISTANT TENNIS PRO 50.00 X 222612 0 31534 2413557 0 306636 9 0 1 0 SMART AND QUICK SOLUTIONS CB LLC 8301 ARROWRIDGE CHARLOTTE NC 28273 TEMPORARY STAFFING SERVICE 377275 UNDERGRADS LLC 520 WLLIOT STREET CHARLOTTE NC 28202 TEMPORARY STAFFING SERVICE 250159 GREYSON PO BOX 773026 DETROIT MI 48277 GOLF MERCHANDISE 171169 SYSCO 4500 CORPORATE DR CONCORD NC 28026 F&B SUPPLIER 108850 4 MEMBER DUES & ASSESSMENTS 713910 23111998 23111998 GOLF 713910 3830521 2738814 1091707 TENNIS 713910 855015 826505 28510 POOL HEALTH & FITNESS 713910 396029 396029 LEGAL SERVICE FEE 713910 347229 347229 559498 559498 29100290 290369 290369 123639 376586 122877 385046 762 -8460 -7698 -8460 762 12300092 5168586 7131506 5053019 2078487 36514467 33024632 3489835 0 1134495 14317573 293919 2289895 1189813 1203335 57793 850397 855904 137484 266972 4572304 400000 INCOME TAX 42704 GOLF EXPENSE 1983340 REPAIR & MAINTENANCE 751333 MISCELLANEOUS 676156 1621944 32645361 6828 105213 3950210 9604182 4310427 4097098 3710155 0 833679 733560 56595 69302 84519454 47293826 39764312 37225628 151646 124937 1963633 1331489 54747485 53291409 657137 1240599 7788174 3246421 7743024 6483785 1723565 1137309 17911900 12108114 X 36835585 41183295 36835585 41183295 54747485 53291409 X 3869106 483473 -4869 X X 0 1 X 1 0 1702415 1702415 35811857 17056319 18755538 12721228 2455851 10265377 34283954 27781656 6502298 37225628 DEF INC- 457(B) 124937 CAPITAL NOTES - CURRENT 3250 CAPITAL NOTES PAYABLE 52000 SHORT TERM LEASE LIABILITY 449345 LONG TERM LEASE LIABILITY 507777 1137309 X 41678184 5168586 5168586 36509598 4869 4869 36514467 37813947 5168586 5168586 32645361 0 32645361 PART X, LINE 2: THE CLUB IS AN EXEMPT ORGANIZATION UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE AND, AS SUCH, IS NOT SUBJECT TO INCOME TAX, EXCEPT ON UNRELATED BUSINESS TAXABLE INCOME, WHICH PRIMARILY CONSISTS OF GUEST USAGE FEES AND INTEREST INCOME. FASB ACCOUNTING STANDARDS CODIFICATION (ASC)740, INCOME TAXES, PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE CLUB'S MANAGEMENT HAS EVALUATED THE IMPACT OF THE GUIDANCE TO ITS FINANCIAL STATEMENTS. THE CLUB'S INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES, GENERALLY FOR A PERIOD OF THREE YEARS FROM THE DATE THEY WERE FILED. THE CLUB'S POLICY IS TO CLASSIFY INCOME TAX RELATED INTEREST AND PENALTIES, IF ANY, IN OTHER INTEREST EXPENSE AND PENALTIES EXPENSE, RESPECTIVELY. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 5,168,586. PART XI, LINE 4B - OTHER ADJUSTMENTS: 457B PLAN EARNINGS 4,869. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 5,168,586. X 1 1 X X X X X 0 1 0 AARON DAWSON GENERAL MANAGER 414285 0 85000 0 13604 0 10867 0 27683 0 551439 0 0 0 DONALD GOODRICH COURSE SUPERINTENDANT 271594 0 15000 0 18527 0 10810 0 22580 0 338511 0 0 0 JASON MILLS DIRECTOR OF GOLF 253132 0 28688 0 0 0 4464 0 37251 0 323535 0 0 0 MARK WOOD DIRECTOR OF INSTRUCTION 19239 0 237332 0 8230 0 6858 0 34355 0 306014 0 0 0 NICOLE GUY CLUBHOUSE MANAGER 216733 0 18200 0 0 0 4997 0 31319 0 271249 0 0 0 CLARK HOWELL DIRECTOR OF TENNIS 52283 0 7500 0 170149 0 8101 0 24063 0 262096 0 0 0 ALEKSANDAR MARKOV ASSISTANT TENNIS PRO 23741 0 198871 0 0 0 6678 0 24856 0 254146 0 0 0 RICHARD LANCASTER CONTROLLER 184490 0 15000 0 8197 0 6792 0 30065 0 244544 0 0 0 STEPHEN SEFCHICK DIRECTOR OF FITNESS 66333 0 65002 0 22427 0 5424 0 9473 0 168659 0 0 0 PART I, LINE 1A CERTAIN MANAGEMENT EMPLOYEES ARE PROVIDED DISCRETIONARY SPENDING ACCOUNTS. THESE ARE APPROVED BY THE BOARD AND ARE INCLUDED IN THE COMPENSATION OF THE RESPECTIVE EMPLOYEE. PART I, LINE 3 NON-QUALIFIED PLANS - DONALD GOODRICH FORM 990, PART VI, SECTION A, LINE 6 THE CLUB HAS MEMBERS FORM 990, PART VI, SECTION A, LINE 7A THE CLUB MEMBERS ELECT THE DIRECTORS FORM 990, PART VI, SECTION A, LINE 7B NO ASSESSMENT SHALL BE LEVIED UPON ANY MEMBERS EXCEPT BY AN APPROVAL OF THE MEMBERS ON WHOM THE ASSESSMENT IS TO BE LEVIED. A QUORUM FOR THE CONSIDERATION OF ANY PROPOSED ASSESSMENT SHALL CONSIST OF AT LEAST FIFTY PERCENT OF THE ASSESSED MEMBERS BEING PRESENT EITHER IN PERSON OR BY WRITTEN PROXY. THE ASSESSMENT MAY BE LEVIED ONLY AFTER APPROVAL BY TWO-THIRDS OF THE ASSESSED MEMBERS PRESENT, EITHER IN PERSON OR BY PROXY. ANY SUCH ASSESSMENT SHALL APPLY ONLY TO THE ASSESSED MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 TAX RETURN IS REVIEWED BY THE PRESIDENT, TREASURER, GENERAL MANAGER AND THE CFO. A COPY IS MADE AVAILABLE TO ALL MEMBERS OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE CLUB HAS A CONFLICT OF INTEREST POLICY APPLICABLE TO DIRECTORS, FINANCE COMMITTEE MEMBERS, THE GENERAL MANAGER, DEPARTMENT HEADS AND ALL OTHER PERSONNEL THAT MAKE DECISIONS THAT EFFECT THE FINANCIAL POSITION OF THE CLUB. THE POLICY ADDRESSES DUTIES OF THE RESPECTIVE PERSONS AND PROCEDURES FOR DETERMINING A CONFLICT OF INTEREST AND RESOLUTION OF POSSIBLE CONFLICTS TO PROTECT THE INTEREST OF THE CLUB. THIS POLICY ENFORCEMENT IS ONGOING. THE POLICY ALSO ADDRESSES RECEIPT OF GIFTS. ALL KEY EMPLOYEES ARE REQUIRED TO COMPLETE AN ACKNOWLEDGEMENT OF GIFT FORM. THESE FORMS ARE REVIEWED BY THE CFO, GENERAL MANAGER AND FINANCE CHAIR. THE FINANCE CHAIR REPORTS TO THE FINANCE COMMITTEE AND THE BOARD. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD REVIEWS THE COMPENSATION OF THE GENERAL MANAGER AND APPROVES ACCORDINGLY FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC, ONLY TO THE MEMBERS UPON REQUEST FORM 990, PART XI, LINE 9: 457B PLAN INCOME,NET ON TAX RETURN NOT FINANCIAL STATEMENTS -4,869. FORM 990 PART XII LINE 2C THE CLUB HAS AN AUDIT COMMITTEE THAT SELECTS THE AUDIT FIRM AND OVERSEES THE ANNUAL AUDIT. THE PROCESS HAS NOT CHANGED FROM PRIOR YEARS PART XI RECONCILIATION OF NET ASSETS, LINE 8 PRIOR PERIOD ADJUSTMENTS: DURING 2024, MANAGMENT OF THE CLUB EVALUATED RECENT CHANGES IN MEMBERSHIP OFFERINGS AND THE USE OF INITIATION FEES, WHICH CAUSED THE CLUB TO REEVALUATUE THE PRIOR POSITION ON THE TREATMENT OF INITIATION FEES. THIS CHANGE REFLECTS THE CLUBS'S UPDATED PRACTICE OF FOCUSING ON THE LONG-TERM FINANCIAL SUSTAINABILITY OF ITS MEMBERSHIP MODEL AND ALIGNS WITH INDUSTRY STANDARDS. INITIATION FEES ARE EXPECTED TO BE USED FOR CAPITAL PURCHASES OR DEBT REPAYMENT USED FOR CAPITAL PURCHASES. EFFECTIVE JANUARY 1, 2024 ALL INITIATION FEES WILL BE CLASSIFIED AS CAPITAL CONTRIBUTIONS AND NOT SUBJECT TO THE PROVISIONS OF FASB ASC 606.