2022-09-14T08:42:14-05:00 2021-12-31 450250958 Eide Bailly LLP 800 Nicollet Mall Ste 1300 Minneapolis MN 554027033 990 2021-01-01 730762818 The Summit Corporation SUMM 9185825243 15 West 6th Suite 2913 Tulsa OK 741195426 Marc Maun President 9185825243 2022-08-31 1 Marc Maun 999009999 Kim Hunwardsen CPA P00484560 6122536500 2022-08-31 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z Marc Maun 15 West 6th Suite 2913 Tulsa OK 741195426 6473357 0 X www.summittulsa.com X 1967 OK Private Dining Club 15 14 157 18 428521 13312 0 0 1883559 2251494 34771 15002 1352242 2967100 3270572 5233596 0 0 0 0 2451657 3281457 0 0 0 1846221 2480191 4297878 5761648 -1027306 -528052 7944409 9411261 5635271 7630175 2309138 1781086 N/A 0 0 The Summit is a noncommercial private dining club in Tulsa, Oklahoma and has the most breathtaking views overlooking the Tulsa skyline. The club is atop the Bank of America Building on the 30th, 31st and 32nd Floors. The majority of the revenue comes from food and beverage sales and dues and fees from members and non-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 1 0 0 0 0 0 0 0 0 1 29 0 1 157 1 1 1 0 0 0 0 173104 575623 0 0 0 X 15 14 0 0 1 0 1 1 1 1 0 0 0 1 0 0 0 1 0 0 OK X April Stanton 9185825243 15 W 6th Street Suite 2913 Tulsa OK 74119 R Scott Vaughn Ex-Officio 2.00 X X 0 0 0 Kevan Buck President 2.00 X X 0 0 0 Marc Maun 1st Vice President 2.00 X X 0 0 0 Hillary Sutton 2nd Vice President 2.00 X X 0 0 0 Byron Bighorse Treasurer (until September 2021) 2.00 X X 0 0 0 T Carley Williams Ex-Officio (until April 2021) 2.00 X X 0 0 0 Mark Phillips Secretary 2.00 X X 0 0 0 Anne Adams Treasurer 1.00 X X 0 0 0 Russ Farthing Director 1.00 X 0 0 0 Stuart Hawley Director 1.00 X 0 0 0 Amy Fogleman Koontz Director (until April 2021) 1.00 X 0 0 0 Gregory Oliphant Director 1.00 X 0 0 0 Michael Oonk Director 1.00 X 0 0 0 Siegmund Brown Director 1.00 X 0 0 0 Keith Wilkes Director 1.00 X 0 0 0 Jacqueline Price Director 1.00 X 0 0 0 Mary Beth Nesser Director (from April 2021) 1.00 X 0 0 0 Russ Peevy Director (from April 2021) 1.00 X 0 0 0 R Jared Jordan CEO 40.00 X 177396 0 114178 William Lyle Executive Chef 40.00 X 155028 0 20759 332424 0 134937 2 0 1 0 Flintco LLC 323 E Reconciliation Way Tulsa OK 74120 Construction services 1250379 CDA Hospitality LLC 1121 Burton Hill Road Fort Worth TX 76114 Furniture and design/purchase fees 346645 Juan Prado Ortega 15002 E 87th Place North Owasso OK 74055 Temporary staffing 175920 3 Membership Dues 900099 1435452 1435452 Capital Improvement Dues 900099 576604 576604 Membership Sales 900099 173104 173104 66334 59314 7020 2251494 14312 14312 1668 0 1668 1668 1434 234 2375 1685 690 690 690 4203508 1238076 2965432 2558477 406955 5233596 4804385 428521 690 291619 2262653 49100 439596 238489 16000 80425 86845 35360 46332 693161 230427 658982 68286 Cleaning and Supplies 224937 Meals & Entertainment 95180 Property and Sales Tax 81312 Replacements 34284 128660 5761648 164406 184758 446530 30738 448911 1394460 290039 341199 51061 61802 8448991 1579261 5778665 6869730 764797 528574 7944409 9411261 302250 665745 1027002 1384650 4306019 5489780 0 90000 5635271 7630175 X 2117480 1781086 191658 0 2309138 1781086 7944409 9411261 -528052 0 X 0 1 X 1 0 5257550 732660 4524890 1446805 655749 791056 1744636 190852 1553784 6869730 Deferred Compensation 90000 90000 X 6471672 0 6471672 -1238076 -1238076 5233596 6999724 1238076 1238076 5761648 0 5761648 Part X, Line 2: Management believes that the Club has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The Club would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. Part XI, Line 4b - Other Adjustments: Cost of Goods reported with Expenses on Financial Statements -1,238,076. Part XII, Line 2d - Other Adjustments: Cost of Goods reported with Expenses on Financial Statements 1,238,076. X 0 1 0 R Jared Jordan CEO 129781 0 40495 0 7120 0 91068 0 23155 0 291619 0 0 0 William Lyle Executive Chef 125028 0 30000 0 0 0 12897 0 7907 0 175832 0 0 0 Part I, Line 4b The Club established a non-qualified deferred compensation plan, 457(f) Plan, for R. Jared Jordan, CEO, and William Lyle, Executive Chef. R. Jared Jordan had a contribution liability of $83,333 with a vesting date of December 31, 2027 and William Lyle had a contribution liability of $6,667 with a vesting date of September 2026. BOA Building LLC 100% owed by Director's family 559060 Building rent 0 Form 990, Part VI, Section A, line 1a The Executive Committee shall be composed of the President, First Vice President, Second Vice President, Treasurer and, Secretary, and the immediate past President as an ex-officio member and with the President serving as its Chairman. The Executive Committee shall act for and on behalf of the Board of Governors in the administration of the affairs of the Club during the period between regular meetings of the Board of Governors. The Executive Committee may also promulgate from time to time and enforce house rules and such other rules as may be necessary from time to time in the enjoyment and administration of the Club. Three members of the Executive Committee shall constitute a quorum. Form 990, Part VI, Section A, line 4 July 2021 - Remote communication is allowed for meetings of the proprietary members. Ballots may be delivered by electronic transmission. In an emergency event, the Executive Committee shall have the authority to act on any matter that requires Board of Governors approval and may do so electronically. However all actions taken by the Executive Committee during such emergency shall be subject to later ratification by the Board of Governors. Form 990, Part VI, Section A, line 6 Individuals of the age of twenty-one years or more and who are of good moral character are eligible for all classes of membership in the Club. A membership in whatever class entitles the immediate family of the member to the use of Club facilities. Classes of Membership 1. Proprietary Membership: An individual who is otherwise qualified and who is the owner of one share of stock in the Corporation. 2. Junior Membership: Issued to an individual otherwise qualified for membership who has not attained the age 38 years. A junior member is required to convert to a full proprietary membership or terminate membership in the Club upon attaining the age of 38. If there are proprietary memberships available, a junior member may convert his or her junior membership to a full proprietary membership at any time prior to attaining the age of 38 by paying the membership fee. If any junior member having attained the age of 38 years has not converted his or her junior membership to a full proprietary membership within sixty (60) days after being notified by the President that a full proprietary membership is available, the junior member will lose his or her right to priority and his or her membership in the Club and all the attendant Club privileges are terminated. No junior member has the privilege of voting on any matter submitted for a vote by the members of the Club. The Board of Governors is authorized to make such equitable adjustments to the payment of monthly dues as it deems appropriate in connection with the transition from junior membership to proprietary membership, such as, situations whereby a junior member has converted to proprietary membership prior to the age of 38. 3. Non-Resident Membership: This class of membership is open to individuals qualified for membership in the club but who do not reside or have a primary business location within fifty miles of the Club's facilities. Persons living in the cities of Bartlesville, Claremore, Muskogee, Henryetta, Okmulgee, Stillwater, Tahlequah, and Vinita are considered non-residents, and persons living in the cities of Tulsa, Broken Arrow, Bixby, Jenks, Owasso, Skiatook, Collinsville, Coweta, Sand Springs and Sapulpa, are considered residents. A non-resident membership shall entitle such member to the use of the facilities of the Club. Such membership does not include the right to serve on the Board of Governors, any committee, or to vote on the administration of the Club or to share in any assets of the Club. Upon establishing a residence or business in Tulsa, a non-resident member in good standing may apply for membership in a membership category then available for residents and pay the then current costs for such membership without credit for any amount previously paid for a non-resident membership. If no resident membership is available, priority is accorded such applicant on the same basis as provided for children or surviving spouses of proprietary members, provided the applicant has been a non-resident member in good standing for a period of at least three years. 4. Surviving Spouse Membership: Surviving spouse membership shall not be limited in number and shall be accorded to the surviving spouse of a proprietary member, and entitle such member to the use of all the facilities of the Club for themselves and eligible children. 5. Honorary Membership: The Board of Governors may issue honorary Club memberships under such circumstances, upon such conditions and with such privileges as the Board may determine from time to time. Form 990, Part VI, Section A, line 7a The Nominating Committee selects a slate of four members to stand for election to the Board of Governors at the next annual meeting of proprietary members to each serve for a term of three years. The Nominating Committee also submits a slate of candidates for the office of President, First Vice President, Second Vice President, Secretary and Treasurer. Absent the resignation of the First Vice President or Second Vice President, the First Vice President is nominated as President and the Second Vice President is nominated as First Vice President. The Second Vice President, Secretary and Treasurer are nominated from qualified members of the Board of Governors without regard to succession. Twenty-five (25) proprietary members of the Club in good standing and who are not members of the Nominating Committee may also nominate candidates for vacancies on the Board of Governors. Form 990, Part VI, Section A, line 7b Each shareholder has one vote in electing the Organization's Board of Governors. The Board of Governors approve items according to the Bylaws. Form 990, Part VI, Section A, line 8b The Executive Committee has authority to act on behalf of the Board of Directors however, formal minutes are not taken at committee meetings. Form 990, Part VI, Section B, line 11b The 990 is provided to the Board of Governors for their review before it is filed. The Form 990 is provided to an officer of the organization for signature and final approval before it is filed by the organization. Form 990, Part VI, Section B, line 15a The CEO's compensation and review is set by the Board of Governors on an annual basis. The last review was conducted in early 2021. The CEO then determines compensation of all other employees. Form 990, Part VI, Section C, line 19 Available upon request.