CYPRESS OF RALEIGH CLUB INC: Form 990, tax year 2012

View the entire original 990 at ProPublica ↗

Organization: CYPRESS OF RALEIGH CLUB INC (EIN 20-2818389)
Tax period: 2012-01-01 to 2012-12-31
Filed: 2013-08-14
IRS object ID: 201302269349303135
Schema version: 2012v2.1
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule D
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2013-08-14T14:45:26-05:00	Timestamp
Tax Period End Date	2012-12-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	GOSPODAREK & DREHER CPA PA	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	4101 LAKE BOONE TRL STE 215	AddressLine1
City	RALEIGH	City
State	NC	State
ZIP Code	27607	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2012-01-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	202818389	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	THE CYPRESS OF RALEIGH CLUB INC	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	CYPR	NameControl
Phone	9195188936	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	8801 CYPRESS LAKES DRIVE	AddressLine1
City	RALEIGH	City
State	NC	State
ZIP Code	27615	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	MARK ANDREWS	Name
Title	PRESIDENT	Title
Phone	9195188936	Phone
Date Signed	2013-08-15	DateSigned

Preparer Preparer

Field	Value	IRS element (for citing)
Name	DAVE GOSPODAREK	Name
Phone	9195109399	Phone
Date Prepared	2013-08-14	DatePrepared

Field	Value	IRS element (for citing)
Tax Year	2012	TaxYear
Build TS	2016-02-25 16:41:14Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Name Of Principal Officer Person	MARK ANDREWS	NameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	8801 CYPRESS LAKES DRIVE	AddressLine1
City	RALEIGH	City
State	NC	State
ZIP Code	27615	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	10590396	GrossReceipts
Group Return For Affiliates	false	GroupReturnForAffiliates
Organization501c	X	Organization501c
Web Site	WWW.THECYPRESSOFRALEIGH.COM	WebSite
Type Of Organization Corporation	X	TypeOfOrganizationCorporation
Year Formation	2005	YearFormation
State Legal Domicile	NC	StateLegalDomicile
Activity Or Mission Description	THE CYPRESS OF RALEIGH CLUB, INC. WAS ORGANIZED TO MANAGE VARIOUS MEMBERSHIP FUNCTIONS AND MANAGE THE COMMONLY OWNED PROPERTY AND SERVICES.	ActivityOrMissionDescription
Nbr Voting Members Governing Body	7	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	7	NbrIndependentVotingMembers
Total Nbr Employees	323	TotalNbrEmployees
Total Gross UBI	0	TotalGrossUBI
Contributions Grants Current Year	0	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	9379951	ProgramServiceRevenuePriorYear
Program Service Revenue CY	9903011	ProgramServiceRevenueCY
Investment Income Prior Year	19507	InvestmentIncomePriorYear
Investment Income Current Year	7182	InvestmentIncomeCurrentYear
Other Revenue Current Year	0	OtherRevenueCurrentYear
Total Revenue Prior Year	9399458	TotalRevenuePriorYear
Total Revenue Current Year	9910193	TotalRevenueCurrentYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Prior Year	5117764	SalariesEtcPriorYear
Salaries Etc Current Year	5579590	SalariesEtcCurrentYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expense Prior Year	3686993	OtherExpensePriorYear
Other Expenses Current Year	3682526	OtherExpensesCurrentYear
Total Expenses Prior Year	8804757	TotalExpensesPriorYear
Total Expenses Current Year	9262116	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	594701	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	648077	RevenuesLessExpensesCY
Total Assets BOY	3097110	TotalAssetsBOY
Total Assets EOY	3532638	TotalAssetsEOY
Total Liabilities BOY	798098	TotalLiabilitiesBOY
Total Liabilities EOY	1530022	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	2299012	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	2002616	NetAssetsOrFundBalancesEOY
Mission Description	THE CYPRESS OF RALEIGH CLUB, INC. WAS ORGANIZED TO MANAGE VARIOUS MEMBERSHIP FUNCTIONS AND MANAGE THE COMMONLY OWNED PROPERTY AND SERVICES.	MissionDescription
Significant New Program Services	false	SignificantNewProgramServices
Significant Change	false	SignificantChange
Expense	2475708	Expense
Revenue	3216658	Revenue
Description	THE CYPRESS OF RALEIGH CLUB PROVIDES NURSING SERVICES TO MEMBERS OF THE CONTINUING CARE RETIREMENT COMMUNITY AT THE ON-SITE LICENSED NURSING FACILITY.	Description

Activity2 Activity2

Field	Value	IRS element (for citing)
Expense	4844759	Expense
Revenue	6686353	Revenue
Description	OPERATION OF THE CLUBHOUSE FUNCTIONS THAT INCLUDE PROVIDING SERVICES SUCH AS DINING, HOUSEKEEPING, MAINTENANCE, SOCIAL ACTIVITIES, AND OTHER SERVICES.	Description

Field	Value	IRS element (for citing)
Total Program Service Expense	7320467	TotalProgramServiceExpense
Described In501 C3	false	DescribedIn501C3
Schedule B Required	false	ScheduleBRequired
Political Activities	false	PoliticalActivities
Subject To Proxy Tax	false	SubjectToProxyTax
Donor Advised Funds	false	DonorAdvisedFunds
Conservation Easements	false	ConservationEasements
Collections Of Art	false	CollectionsOfArt
Credit Counseling	false	CreditCounseling
Term Or Permanent Endowments	false	TermOrPermanentEndowments
Report Land Bldg Equip	true	ReportLandBldgEquip
Report Invest Oth Securities	false	ReportInvestOthSecurities
Report Prog Rel Invest	false	ReportProgRelInvest
Report Other Assets	false	ReportOtherAssets
Report Other Liabilities	true	ReportOtherLiabilities
Report Fin48 Footnote	false	ReportFin48Footnote
Independent Audit Financial Stmt	true	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	false	ConsolidatedAuditFinancialStmt
School	false	School
Foreign Office	false	ForeignOffice
Foreign Activities	false	ForeignActivities
More Than5000 K To Organizations	false	MoreThan5000KToOrganizations
More Than5000 K To Individuals	false	MoreThan5000KToIndividuals
Professional Fundraising	false	ProfessionalFundraising
Fundraising Activities	false	FundraisingActivities
Gaming	false	Gaming
Hospital	false	Hospital
Grants To Organizations	false	GrantsToOrganizations
Grants To Individuals	false	GrantsToIndividuals
Schedule J Required	false	ScheduleJRequired
Tax Exempt Bonds	false	TaxExemptBonds
Excess Benefit Transaction	false	ExcessBenefitTransaction
Prior Excess Benefit Transaction	false	PriorExcessBenefitTransaction
Loan To Officer Or DQP	false	LoanToOfficerOrDQP
Grant To Related Person	false	GrantToRelatedPerson
Bsnss Rltnshp With Organization	false	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	false	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	false	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	false	DeductibleNonCashContributions
Deductible Contributions Of Art	false	DeductibleContributionsOfArt
Terminated	false	Terminated
Partial Liquidation	false	PartialLiquidation
Disregarded Entity	false	DisregardedEntity
Related Entity	false	RelatedEntity
Related Org Controlled Entity	false	RelatedOrgControlledEntity
Activities Conducted Partnership	false	ActivitiesConductedPartnership
Schedule O Required	true	ScheduleORequired
Number Forms Transmitted With1096	36	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Number Of Employees	323	NumberOfEmployees
Employment Tax Returns Filed	true	EmploymentTaxReturnsFiled
Unrelated Business Income	false	UnrelatedBusinessIncome
Foreign Financial Account	false	ForeignFinancialAccount
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTrans
Taxable Party Notification	false	TaxablePartyNotification
Non Deductible Contributions	false	NonDeductibleContributions
Indoor Tanning Services	false	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	7	NbrVotingGoverningBodyMembers
Number Independent Voting Members	7	NumberIndependentVotingMembers
Family Or Business Relationship	false	FamilyOrBusinessRelationship
Delegation Of Management Duties	false	DelegationOfManagementDuties
Changes To Organizing Docs	false	ChangesToOrganizingDocs
Material Diversion Or Misuse	false	MaterialDiversionOrMisuse
Members Or Stockholders	false	MembersOrStockholders
Election Of Board Members	false	ElectionOfBoardMembers
Decisions Subject To Approval	false	DecisionsSubjectToApproval
Minutes Of Governing Body	true	MinutesOfGoverningBody
Minutes Of Committees	true	MinutesOfCommittees
Officer Mailing Address	false	OfficerMailingAddress
Local Chapters	false	LocalChapters
Form990 Provided To Governing Body	true	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	true	ConflictOfInterestPolicy
Annual Disclosure Covered Persons	true	AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement	true	RegularMonitoringEnforcement
Whistleblower Policy	true	WhistleblowerPolicy
Document Retention Policy	true	DocumentRetentionPolicy
Compensation Process CEO	true	CompensationProcessCEO
Compensation Process Other	false	CompensationProcessOther
Investment In Joint Venture	false	InvestmentInJointVenture
States Where Copy Of Return Is Filed	NC	StatesWhereCopyOfReturnIsFiled
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Field	Value	IRS element (for citing)
Name Person	MELISSA HOGAN	NamePerson
Telephone Number	9195188936	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	8801 CYPRESS LAKES DRIVE	AddressLine1
City	RALEIGH	City
State	NC	State
ZIP Code	27615	ZIPCode

Field	Value	IRS element (for citing)
No Listed Persons Compensated	X	NoListedPersonsCompensated

Form990 Part VII Section A Form990PartVIISectionA (7 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation	OfficerOfficer
CRAIG HUGGINS
DIRECTOR	4.00	X	0	0	0
ANNE BANDER
DIRECTOR	0.25	X	0	0	0
JOE STEVEN CLINE
DIRECTOR	0.25	X	0	0	0
JOHN R MITTERLING
DIRECTOR	0.25	X	0	0	0
MARK ANDREWS
PRESIDENT	15.00		0	0	0	X
MICHAEL SANDMAN
VICE PRESIDE	4.00		0	0	0	X
REGINA DRIESBACH
SECRETARY/TR	40.00		0	0	0	X

Field	Value	IRS element (for citing)
Formers Listed	false	FormersListed
Total Comp GT150 K	false	TotalCompGT150K
Compensation From Other Sources	false	CompensationFromOtherSources

Contractor Compensation ContractorCompensation (3 entries)

Address Line1AddressOfContractor/AddressUS/AddressLine1	CityAddressOfContractor/AddressUS/City	StateAddressOfContractor/AddressUS/State	ZIP CodeAddressOfContractor/AddressUS/ZIPCode	Description Of ServicesDescriptionOfServices	CompensationCompensation
CYPRESS OF RALEIGH LLC
7201 CREEDMOOR RD	RALEIGH	NC	27613	MANAGEMENT SERV	1082238
LIFE CARE SERVICES LLC
CAPITAL SQUARE	DESMOINES	IA	503092334	MANAGEMENT COMP	946258
HERITAGE HEALTHCARE
536 OLD HOWELL RD	GREENVILLE	SC	29615	THERAPY SERVICE	303074

Field	Value	IRS element (for citing)
Number Of Contractors GT100 K	3	NumberOfContractorsGT100K

Program Service Revenue ProgramServiceRevenue (3 entries)

DescriptionDescription	Business CodeBusinessCode	Total Revenue ColumnTotalRevenueColumn	Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome
MEMBER FEES	623000	5460787	5460787
HEALTH CENTER	623000	3216658	3216658
HOME HEALTH		1225566	1225566

Field	Value	IRS element (for citing)
Total Program Service Revenue	9903011	TotalProgramServiceRevenue

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	1620	TotalRevenueColumn
Exclusion	$1,620	ExclusionAmount

Gross Amount Sales Assets GrossAmountSalesAssets

Field	Value	IRS element (for citing)
Securities	685765	Securities

Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses

Field	Value	IRS element (for citing)
Securities	680203	Securities

Gain Or Loss GainOrLoss

Field	Value	IRS element (for citing)
Securities	5562	Securities

Net Gain Or Loss Investments NetGainOrLossInvestments

Field	Value	IRS element (for citing)
Total Revenue Column	5562	TotalRevenueColumn
Related Or Exempt Function Income	5562	RelatedOrExemptFunctionIncome

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	9910193	TotalRevenueColumn
Related Or Exempt Function Income	9908573	RelatedOrExemptFunctionIncome
Exclusion	$1,620	ExclusionAmount

Other Salaries And Wages OtherSalariesAndWages

Field	Value	IRS element (for citing)
Total	4588201	Total
Program Services	4288648	ProgramServices
Management And General	299553	ManagementAndGeneral

Pension Plan Contributions PensionPlanContributions

Field	Value	IRS element (for citing)
Total	21549	Total
Program Services	17780	ProgramServices
Management And General	3769	ManagementAndGeneral

Other Employee Benefits OtherEmployeeBenefits

Field	Value	IRS element (for citing)
Total	533028	Total
Program Services	487081	ProgramServices
Management And General	45947	ManagementAndGeneral

Payroll Taxes PayrollTaxes

Field	Value	IRS element (for citing)
Total	436812	Total
Program Services	410647	ProgramServices
Management And General	26165	ManagementAndGeneral

Fees For Services Management FeesForServicesManagement

Field	Value	IRS element (for citing)
Total	1293657	Total
Program Services	23800	ProgramServices
Management And General	1269857	ManagementAndGeneral

Fees For Services Legal FeesForServicesLegal

Field	Value	IRS element (for citing)
Total	3774	Total
Management And General	3774	ManagementAndGeneral

Fees For Services Accounting FeesForServicesAccounting

Field	Value	IRS element (for citing)
Total	25838	Total
Management And General	25838	ManagementAndGeneral

Fees For Services Other FeesForServicesOther

Field	Value	IRS element (for citing)
Total	79411	Total
Program Services	62286	ProgramServices
Management And General	17125	ManagementAndGeneral

Advertising Advertising

Field	Value	IRS element (for citing)
Total	1525	Total
Program Services	1525	ProgramServices

Travel Travel

Field	Value	IRS element (for citing)
Total	15287	Total
Program Services	11515	ProgramServices
Management And General	3772	ManagementAndGeneral

Depreciation Depletion DepreciationDepletion

Field	Value	IRS element (for citing)
Total	20299	Total
Program Services	20299	ProgramServices

Insurance Insurance

Field	Value	IRS element (for citing)
Total	56200	Total
Management And General	56200	ManagementAndGeneral

Other Expenses OtherExpenses (4 entries)

DescriptionDescription	TotalTotal	Program ServicesProgramServices	Management And GeneralManagementAndGeneral
FOOD EXPENSES	840617	840617
OTHER MEDICAL EXPENSES	304095	304095
SUPPLIES	279408	251663	27745
REPAIRS & MAINTENANCE	125427	90114	35313

All Other Expenses AllOtherExpenses

Field	Value	IRS element (for citing)
Total	636988	Total
Program Services	510397	ProgramServices
Management And General	126591	ManagementAndGeneral

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	9262116	Total
Program Services	7320467	ProgramServices
Management And General	1941649	ManagementAndGeneral
Fundraising	0	Fundraising

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	442019	BOY
EOY	687000	EOY

Accounts Receivable AccountsReceivable

Field	Value	IRS element (for citing)
BOY	472150	BOY
EOY	410085	EOY

Inventories For Sale Or Use InventoriesForSaleOrUse

Field	Value	IRS element (for citing)
BOY	61746	BOY
EOY	62251	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	147025	BOY
EOY	103479	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	229691	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	74435	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	95217	BOY
EOY	155256	EOY

Investments Pub Traded Securities InvestmentsPubTradedSecurities

Field	Value	IRS element (for citing)
BOY	1812167	BOY
EOY	2049191	EOY

Other Assets Total OtherAssetsTotal

Field	Value	IRS element (for citing)
BOY	66786	BOY
EOY	65376	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	3097110	BOY
EOY	3532638	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	588002	BOY
EOY	603270	EOY

Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp

Field	Value	IRS element (for citing)
BOY	19273	BOY
EOY	11810	EOY

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
BOY	190823	BOY
EOY	914942	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	798098	BOY
EOY	1530022	EOY

Field	Value	IRS element (for citing)
Follow SFAS117	X	FollowSFAS117

Unrestricted Net Assets UnrestrictedNetAssets

Field	Value	IRS element (for citing)
BOY	544012	BOY
EOY	112616	EOY

Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets

Field	Value	IRS element (for citing)
BOY	1755000	BOY
EOY	1890000	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	2299012	BOY
EOY	2002616	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	3097110	BOY
EOY	3532638	EOY

Field	Value	IRS element (for citing)
Reconcilation Revenue Expenses	648077	ReconcilationRevenueExpenses
Reconciliation Unrealized Invest	44272	ReconciliationUnrealizedInvest
Reconcilation Other Changes	-988745	ReconcilationOtherChanges
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	false	AccountantCompileOrReview
FS Audited	true	FSAudited

FS Audited Basis FSAuditedBasis

Field	Value	IRS element (for citing)
Financial Statement Separate	X	FinancialStatementSeparate

Field	Value	IRS element (for citing)
Audit Committee	true	AuditCommittee
Federal Grant Audit Required	false	FederalGrantAuditRequired

Schedule D IRS990ScheduleD

Equipment Equipment

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	24670	OtherCostOrOtherBasis
Depreciation	8819	Depreciation
Book Value	15851	BookValue

Other Land Buildings OtherLandBuildings

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	205021	OtherCostOrOtherBasis
Depreciation	65616	Depreciation
Book Value	139405	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	155256	TotalOfBookValueLandBuildings

Other Liabilities OtherLiabilities (3 entries)

DescriptionDescription	AmountAmount
DUE TO AFFILIATE	$782,099
DUE TO HOMEOWNERS	$114,843
REFUNDS DUE PRIOR HOMEOWNERS	$18,000

Field	Value	IRS element (for citing)
Total Of Amounts	914942	TotalOfAmounts
Tot Revenue Etc Audited Fincl Stmt	10089465	TotRevenueEtcAuditedFinclStmt
Net Unrealized Gains Investments	44272	NetUnrealizedGainsInvestments
Other Revenues	135000	OtherRevenues
Revenue Not Rptd F990	179272	RevenueNotRptdF990
Revenue Subtotal	9910193	RevenueSubtotal
Total Revenue Per Form990	9910193	TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt	9262116	TotExpensesEtcAuditedFinclStmt
Expenses Subtotal	9262116	ExpensesSubtotal
Total Expenses Per Form990	9262116	TotalExpensesPerForm990

Form990 Schedule D Part XIII Form990ScheduleDPartXIII

Field	Value	IRS element (for citing)
Identifier	REVENUE AMOUNTS INCLUDED IN FINANCIALS - OTHER	Identifier
Return Reference	SCHEDULE D, PAGE 4, PART XI, LINE 2D	ReturnReference
Explanation	RESERVE DEPOSITS 135,000	Explanation

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (6 entries)

IdentifierIdentifier	Return ReferenceReturnReference	ExplanationExplanation
ORGANIZATION'S PROCESS USED TO REVIEW FORM 990	FORM 990, PAGE 6, PART VI, LINE 11B	THE SECRETARY/TREASURER WILL REVIEW THE COMPLETED 990 WITH THE OFFICER OF THE GOVERNING BODY.
ENFORCEMENT OF CONFLICTS POLICY	FORM 990, PAGE 6, PART VI, LINE 12C	MANAGEMENT MONITORS TRANSACTIONS AND ACTIVITIES CLOSELY. THE MANAGEMENT COMPANY PROVIDES OVERSIGHT IN DAILY ACTIVITES AND TRANSACTIONS.
COMPENSATION PROCESS FOR TOP OFFICIAL	FORM 990, PAGE 6, PART VI, LINE 15A	THE EXECUTIVE DIRECTOR'S COMPENSATION IS SET AND PAID BY THE MANAGEMENT COMPANY. A COMPARISON IS DONE TO OTHER EXECUTIVE DIRECTORS' AND ADMINISTRATORS' COMPENSATION AND A THIRD PARTY COMPANY HELPS DETERMINE ANY ADDITIONAL COST OF LIVING ADJUSTMENTS BASED ON GEOGRAPHIC LOCATION.
GOVERNING DOCUMENTS DISCLOSURE EXPLANATION	FORM 990, PAGE 6, PART VI, LINE 19	GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS WILL BE MADE AVAILABLE UPON REQUEST.
RECONCILIATION OF CHANGES - OTHER	FORM 990, PART XI, LINE 9	RESERVE DEPOSITS 135,000
OTHER CHANGES IN NET ASSETS EXPLANATION	FORM 990, PART XI, LINE 9	ASSETS TRANSFERRED TO ASSOCIATION 1,123,744 ROUNDING 1