2013-02-13T15:25:08-06:00 2012-12-31 591954606 CAVANAUGH & CO LLP 2381 FRUITVILLE ROAD SARASOTA FL 34237 990 2012-01-01 650120044 TARA GOLF & COUNTRY CLUB INC TARA 9417567775 6602 DREWRYS BLUFF BRADENTON FL 34203 JOYCE LEONE 9417567775 2013-02-08 1 STEPHEN D SPANGLER P01224549 9413662983 2013-02-08 2012 2016-03-07 17:11:31Z JOYCE LEONE 6602 DREWRYS BLUFF BRADENTON FL 34203 6025707 0 X WWW.TARAGCC.COM X 1988 FL TO PROVIDE ITS MEMBERS RECREATIONAL AND SOCIAL OPPORTUNITIES THROUGH QUALITY PRIVATE COUNTRY CLUB AND GOLF FACILITIES WITHIN A WELL MAINTAINED COMMUNITY, IN AN ATMOSPHERE OF FRIENDLINESS, TRANSPARENCY AND MUTUAL RESPECT, AND IN A FISCALLY RESPONSIBLE MANNER. 7 7 106 80 388297 -172123 0 0 4480013 4613430 7179 -26311 754320 792023 5241512 5379142 0 0 0 0 2317280 2432599 0 0 0 2653478 2659740 4970758 5092339 270754 286803 11439234 11512383 6769305 6412695 4669929 5099688 TO PROVIDE ITS MEMBERS RECREATIONAL AND SOCIAL OPPORTUNITIES THROUGH QUALITY PRIVATE COUNTRY CLUB AND GOLF FACILITIES WITHIN A WELL MAINTAINED COMMUNITY, IN AN ATMOSPHERE OF FRIENDLINESS, TRANSPARENCY AND MUTUAL RESPECT, AND IN A FISCALLY RESPONSIBLE MANNER. 0 0 TARA IS A PRIVATE CLUB OFFERING GOLF COURSES, GOLF INSTRUCTIONS, AND RELATED SERVICES AND CLUBHOUSE FACILITIES FOR ITS MEMBERS. ALL PURCHASERS OF TARA GOLF & COUNTY CLUB PROPERTY BECOME AUTOMATIC MEMBERS. NON-RESIDENT MEMBERS ARE NOT PERMITTED. THERE WERE 765 GOLF MEMBERSHIPS AND 106 SOCIAL MEMBERSHIPS OUTSTANDING AS OF YEAR END. 0 0 0 0 0 0 0 0 0 1 0 0 0 0 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 9 0 1 106 1 1 1 0 0 0 0 142956 425428 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 0 1 1 0 0 X LARRY PERKINS 9417567775 6602 DREWRYS BLUFF BRADENTON FL 34203 JOYCE LEONE 0.00 X X 0 0 0 EDD GARBRICK 0.00 X 0 0 0 DAVE WHISTLER 0.00 X 0 0 0 ACE BOUGHTON 0.00 X 0 0 0 JIM SHUFORD 0.00 X X 0 0 0 MARK COOPER 0.00 X X 0 0 0 MARIAN MEYER 0.00 X X 0 0 0 ANTHONY GREISING 40.00 X 152843 0 8483 LARRY PERKINS 40.00 X 100893 0 7036 253736 0 15519 2 0 1 0 SYSCO-WEST COAST FLORIDA PO BOX 1839 PALMETTO FL 34220 FOOD & SUPPLIES 304972 WESCO TURF INC PO BOX 300006 DULUTH GA 30096 GOLF COURSE EQUIPMENT 290080 AETNA PO BOX 804735 CHICAGO IL 60680 HEALTH INSURANCE 191419 FLORIDA POWER & LIGHT CO GENERAL MAIL FACILITY MIAMI FL 331880001 ELECTRICITY 116837 ZURICH NORTH AMERICA PO BOX 4664 CAROL STREAM IL 60197 INSURANCE 106462 5 REGULAR ASSESSMENTS AN 713910 3539808 3539808 CART FEES 713910 687358 530846 156512 GREEN FEES 713910 200849 139728 61121 MANAGEMENT FEES 561000 100148 41800 58348 UNSPENT FOOD MINIMUM 722100 85267 85267 4613430 4675 4675 30986 -30986 -30986 -30986 1339267 615579 723688 611372 112316 FINANCE CHARGES 713910 33175 33175 OTHER ADMINISTRATIVE I 713910 28460 28460 NEW OWNER APPLICATION 713910 6700 6700 68335 5379142 4986170 388297 4675 253736 1758506 209182 211175 9483 15215 3922 21796 160125 74738 273238 2305 4868 391347 652486 130354 GOLF COURSE MAINTENANCE 469580 OTHER EXPENSES 181940 FOOD & BEVERAGE 164020 GOLF OPERATIONS 86751 17572 5092339 1422 1522 2125565 2409806 277980 316949 158845 162948 74314 73317 11755161 3218855 8779638 8536306 21470 11535 11439234 11512383 305237 352822 454997 419745 6009071 5640128 6769305 6412695 X 4669929 5099688 0 0 0 0 4669929 5099688 11439234 11512383 X 286803 142956 X X 0 1 X 1 0 3859228 892173 2967055 3722795 707456 3015339 4158138 1619226 2538912 15000 15000 8536306 X 6025707 646565 646565 5379142 0 5379142 5738904 646565 646565 5092339 0 5092339 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS EXEMPTED THE CLUB FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE. THE TAX REFORM ACT OF 1969 IMPOSED A CORPORATE INCOME TAX ON THE "UNRELATED BUSINESS TAXABLE INCOME" OF AN OTHERWISE TAX EXEMPT ORGANIZATION. PROVISION FOR ANY APPLICABLE FEDERAL AND STATE INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING STATEMENT OF REVENUES AND EXPENSES. MANAGEMENT HAS EVALUATED THE EFFECT OF AN ACCOUNTING STANDARD RELATING TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT HAS DETERMINED THAT THE CLUB HAD NO UNCERTAIN INCOME TAX POSITIONS THAT COULD HAVE A SIGNIFICANT EFFECT ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012. THE ORGANIZATION'S FEDERAL INCOME TAX RETURNS FOR THE YEARS ENDED 2011, 2010 AND 2009 ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, GENERALLY FOR THREE YEARS AFTER THE FEDERAL INCOME TAX RETURNS WERE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD NETTED W/REVENUE ON 990 615579. LOSS ON DISPOSAL NETTED W/REVENUE ON 990 30986. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD NETTED W/REVENUE ON 990 615579. LOSS ON DISPOSAL NETTED W/REVENUE ON 990 30986. X X 0 0 0 ANTHONY GREISING 136485 0 10430 0 5928 0 0 0 8483 0 161326 0 0 0 PART I, LINE 3 COMPENSATION SURVEYS ARE OBTAINED AND USED TO DETERMINE THE COMPENSATION PACKAGE OF THE GENERAL MANAGER. THE BOARD OF DIRECTORS APPROVES THE GENERAL MANAGER'S COMPENSATION PACKAGE. FORM 990, PART VI, SECTION A, LINE 6 THE ASSOCIATION'S UMBRELLA DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS ALLOWS FOR A TOTAL OF 800 CLASS A AND 300 CLASS B MEMBERSHIPS, WITH THE FOLLOWING RIGHTS AND RESTRICTIONS: CLASS A: CLASS A MEMBERS HAVE FULL RIGHTS AND PRIVILEDGES IN THE GOLF COURSE, CLUBHOUSE AND RECREATIONAL FACILITIES. CLASS B: CLASS B MEMBERS HAVE FULL PRIVILEDGES WITH RESPECT TO THE CLUBHOUSE, RECREATIONAL FACILITIES AND ALL OTHER COMMON PROPERTY. CLASS B MEMBERS MAY USE THE GOLF COURSE ON A SPACE AVAILABLE BASIS AND ARE REQUIRED TO PAY GREENS FEES AND OTHER USER CHARGES. FORM 990, PART VI, SECTION A, LINE 7A THE ANNUAL MEETING OF THE MEMBERS IS HELD FOR THE PURPOSE OF ELECTING DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE ORGANIZATION IS A COUNTRY CLUB. THE BOARD OF DIRECTORS APPROVES GENERAL MANAGEMENT DECISIONS. THE REGULAR MEMBERS WHO ARE THE RECORD OWNERS OF EACH LOT SHALL BE COLLECTIVELY ENTITLED TO ONE (1) VOTE FOR EACH SUCH LOT. IF REGULAR MEMBERS OWN MORE THAN ONE LOT, THEY SHALL BE ENTITLED TO ONE VOTE FOR EACH LOT OWNED. A LOT VOTE MAY NOT BE DIVIDED. REGULAR MEMBERS WHO ARE THE RECORD OWNER OF A PARCEL SHALL, AT ANY GIVEN TIME, BE COLLECTIVELY ENTITLED TO THAT NUMBER OF VOTES EQUAL TO THE NUMBER OF RESIDENTIAL UNITS LOCATED ON SUCH PARCEL. THERE IS AN ANNUAL MEETING TO ELECT DIRECTORS AND OTHER BUSINESS AUTHORIZED. MEETINGS OF THE BOARD OF DIRECTORS ARE OPEN TO ALL MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 RETURN WAS PROVIDED TO ALL BOARD MEMBERS AFTER CFO REVIEWED INITIALLY. APPROVAL OF FINAL DRAFT WAS OBTAINED FROM ALL BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD DOES NOT HAVE A FORMAL CONFLICT OF INTEREST POLICY BUT HAS DISCUSSION VERBALLY WITH BOARD MEMBERS. IT IS INTENDED THAT A CONFLICT OF INTEREST POLICY BE IMPLEMENTED WITHIN THE NEXT FISCAL YEAR. ALL MEETINGS ARE OPEN TO THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD REVIEWS AND VOTES ON COMPENSATION PROVIDED THE GENERAL MANAGER COMPARING TO OTHER LIKE FACILITIES AND ADJUSTS THE COMPENSATION PROVIDED TO MEET THE SPECIAL REQUIREMENTS OF TARA GOLF AND COUNTY CLUB. FORM 990, PART VI, SECTION C, LINE 18 ALL DOCUMENTS ARE AVAILABLE UPON REQUEST, AS ALLOWED BY STATUTE. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS RELATING TO TAX EXEMPTION ARE PROVIDED UPON REQUEST. OTHER DOCUMENTS ARE PROVIDED TO THE MEMBERS UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CAPITAL ASSESSMENTS 142956. FORM 990, PART XII, LINE 2C: NO CHANGE FROM PRIOR YEAR. FORM 990, PART XI, LINE 9, OTHER INCREASES IN NET ASSETS: OTHER INCREASES IN NET ASSETS IS A RESULT OF CAPITAL CONTRIBUTIONS FROM NEW OWNERS OF $99,340.