2022-09-14T07:30:38-05:00 2021-10-31 440160260 FORVIS LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2020-11-01 560766215 WILDCAT CLIFFS COUNTRY CLUB INC WILD 8285262165 770 COUNTRY CLUB DRIVE HIGHLANDS NC 28741 JEFFREY BLAIS GENERAL MANAGER/COO 8285262165 2022-09-13 1 JEFFREY BLAIS 999009999 AMY BIBBY P00445891 8282542254 2022-09-13 3 AAL1 IAL1 2020 2023-04-26 12:10:37Z JEFFREY BLAIS 770 COUNTRY CLUB DRIVE HIGHLANDS NC 28741 6899059 0 X WWW.WILDCATCLIFFSCOUNTRYCLUB.COM X 1961 NC THE ORGANIZATION IS A PRIVATE CLUB CREATED FOR THE SOCIAL AND RECREATIONAL BENEFIT OF ITS MEMBERS. 9 9 82 9 153955 5532 0 0 5379585 5505227 -47811 18961 377388 610454 5709162 6134642 500 0 0 0 2602969 2975412 0 0 0 2388456 2748914 4991925 5724326 717237 410316 17268619 18911119 2846929 7477795 14421690 11433324 THE ORGANIZATION IS A PRIVATE CLUB CREATED FOR THE SOCIAL AND RECREATIONAL BENEFIT OF ITS MEMBERS. 0 0 FOOD OPERATIONS/DINING - PROVIDE DAILY CASUAL DINING FOR MEMBERS AND THEIR GUESTS, AS WELL AS CASUAL AND FINE DINING DINNERS. SERVED 280 EQUITY MEMBERS AND 60 SOCIAL MEMBERS DURING THE YEAR ENDED 10/31/2021. PRO SHOP OPERATIONS - GUEST FEES AND MERCHANDISE SALES. SERVED 280 EQUITY MEMBERS AND 60 SOCIAL MEMBERS DURING THE YEAR ENDED 10/31/2021. GOLF CART OPERATIONS - CART RENTAL AND TRAIL FEES TO PROVIDE ACCESS TO RENTAL CARTS FOR MEMBERS AND THEIR GUEST AND ACCESS TO PATHS FOR MEMBERS WHO OWN THEIR OWN CARTS. SERVED 280 EQUITY MEMBERS AND 60 SOCIAL MEMBERS DURING THE YEAR ENDED 10/31/2021. 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 1 0 0 1 33 0 1 82 1 1 1 0 0 0 0 907044 156894 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 0 0 0 1 1 0 X CHRISTINA SHERIDAN 8285262165 770 COUNTRY CLUB DRIVE HIGHLANDS NC 28741 TOM FULLER PRESIDENT 5.00 X X 0 0 0 ROSEMARY MILTON VICE PRESIDENT 5.00 X X 0 0 0 JEFF BAILLIS SECRETARY & TREASURER 5.00 X X 0 0 0 SCOTT MCGARITY DIRECTOR 5.00 X 0 0 0 GREG THOMPSON DIRECTOR 5.00 X 0 0 0 FRED HALBACK DIRECTOR 5.00 X 0 0 0 SANDRA HOST DIRECTOR 5.00 X 0 0 0 PRESTON MARTIN DIRECTOR 5.00 X 0 0 0 JULIE BYRD DIRECTOR 5.00 X 0 0 0 JEFFERY BLAIS CEO / GENERAL MANAGER 40.00 X 253265 0 20038 BARRY GRAHAM GOLF COURSE SUPERINTENDENT 40.00 X 132457 0 9622 KEVIN GABBARD HEAD GOLF PROFESSIONAL 40.00 X 106506 0 7920 WILLIAM BYSTRZYCKI EXECUTIVE CHEF 40.00 X 113419 0 10585 605647 0 48165 4 0 1 0 0 MEMBER DUES & INITIATION FEES 713910 4340519 4340519 GOLF RELATED ACTIVITIES 713910 454798 302921 151877 OTHER OPERATIONS 713910 312612 312612 GOLF CART OPERATIONS 713910 243913 243913 FITNESS AND RECREATION 713910 80091 80091 73294 73294 5505227 7532 7532 58597 66710 -8113 -8113 -8113 11429 0 11429 11429 11429 1316274 697707 618567 615908 2659 6134642 5969258 153955 11429 273303 2181361 25802 223217 271729 59430 78098 737314 37221 327523 46547 7419 110760 815313 79337 GROUND MAINTENANCE 281397 RECRUITING 76533 TOURNAMENT EXPENSE 55754 MEMBER RELATIONS 36268 5724326 646882 890417 1529741 2687256 235522 322970 107500 220000 149069 155760 19393 18347 24427644 9811275 14580512 14616369 17268619 18911119 296682 329668 22200 4982844 2514547 2163283 13500 2000 2846929 7477795 X 14421690 11433324 14421690 11433324 17268619 18911119 X 410316 -3398682 X X 0 1 X 1 0 1499317 1499317 8123364 3476074 4647290 3680272 1574828 2105444 2362952 1011132 1351820 8761739 3749241 5012498 14616369 SPECIAL EVENT DEPOSITS 3000 SECURITY DEPOSITS -1000 2000 X 3284104 1140817 1140817 2143287 3991355 3991355 6134642 6272470 764417 764417 5508053 216273 216273 5724326 PART X, LINE 2: THE CLUB IS A NON-PROFIT ORGANIZATION UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE AND HAS ALSO BEEN GRANTED TAX EXEMPT STATUS BY THE STATE OF NORTH CAROLINA. IT HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. THEREFORE, NO LIABILITY FOR INCOME TAXES IS INCURRED ON INCOME DIRECTLY RELATED TO THE CLUB'S SOCIAL AND GOLF ACTIVITIES. HOWEVER, INCOME FROM UNRELATED ACTIVITIES, INCLUDING INTEREST INCOME AND NON-QUALIFYING SALES OF PROPERTY, IS SUBJECT TO TAX. IT IS THE CLUB'S POLICY TO EVALUATE ALL TAX POSITIONS TO IDENTIFY ANY THAT MAY BE CONSIDERED UNCERTAIN. ALL IDENTIFIED MATERIAL TAX POSITIONS ARE ASSESSED AND MEASURED BY A "MORE LIKELY THAN NOT" THRESHOLD TO DETERMINE IF THE TAX POSITION IS UNCERTAIN, AND WHAT, IF ANY, EFFECT THE UNCERTAIN TAX POSITION MAY HAVE ON THE FINANCIAL STATEMENTS. NO MATERIAL UNCERTAIN TAX POSITIONS WERE IDENTIFIED FOR FISCAL YEARS 2021 AND 2020. THE STATE OF NORTH CAROLINA AND COUNTIES WITHIN THE STATE IMPOSE A SALES TAX ON ALL OF THE CLUB'S SALES TO NON-EXEMPT MEMBERS ACCEPTING PRODUCT DELIVERY WITHIN THE STATE. THE CLUB COLLECTS THE SALES TAX FROM MEMBERS AND REMITS THE ENTIRE AMOUNT TO THE STATE. THE CLUB'S ACCOUNTING POLICY IS TO EXCLUDE THE TAX COLLECTED AND REMITTED TO THE STATE FROM REVENUE AND COST OF SALES. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 66,710. COGS 697,707. CAPITAL FUNDING FEE 376,400. PART XI, LINE 4B - OTHER ADJUSTMENTS: EXPENSES IN REVENUES 216,273. REDEMPTION OF EQUITY CERTIFICATES 127,802. ADOPTION OF ASC 606 3,647,280. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 66,710. COGS 697,707. PART XII, LINE 4B - OTHER ADJUSTMENTS: EXPENSES IN REVENUES 216,273. X 0 0 0 JEFFERY BLAIS CEO / GENERAL MANAGER 217134 0 32136 0 3995 0 0 0 20038 0 273303 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS A COUNTRY CLUB, WHICH HAD 310 MEMBERS AT THE END OF THE TAX YEAR. FORM 990, PART VI, SECTION A, LINE 7A THE CLUB'S MEMBERS ARE INVOLVED IN ELECTING MEMBERS OF THE CLUB'S GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS OF THE CLUB CAN AFFIRM OR REVERSE CERTAIN DECISIONS OF THE BOARD RELATED TO EXPULSION OF MEMBERS, EXPENDITURES BEYOND FUNDS EXPECTED TO BE AVAILABLE FOR THE YEAR, CAPITAL ASSESSMENTS OF MEMBERS, USE OF THE CAPITAL IMPROVEMENT FUND, AND BYLAW AMENDMENTS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY AN INDEPENDENT ACCOUNTANT. THE FORM 990 WAS REVIEWED BY MANAGEMENT AND PROVIDED THE BOARD MEMBERS A COPY OF THE TAX RETURN PRIOR TO FILING THE FORM 990 WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 15 THE CLUB'S DETERMINATION OF COMPENSATION OF TOP MANAGEMENT, OFFICERS AND KEY EMPLOYEES INVLOVES THE USE OF WAGE AND SALARY COMPARIONS FOR THE SAME JOB DESCRIPTIONS WITH OTHER COUNTRY CLUBS IN THE GEOGRAPHIC AREA. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS FORM 1023 AND FORM 990 AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CAPITAL FUNDING FEES 376,400. ADOPTION OF ASC 606 -3,647,280. REDEMPTION OF EQUITY CERTIFICATES -127,802. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. WILDCAT COMMUNITY SERVICES 770 COUNTRY CLUB DR HIGHLANDS NC 28741 460992724 FACILITY SUPPORT SERVICES NC N/A C 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0