2022-09-14T10:40:42-05:00 2021-10-31 860985325 LOHMAN COMPANY PLLC 1630 S STAPLEY DR SUITE 108 MESA AZ 85204 990 2020-11-01 860047000 PHOENIX COUNTRY CLUB PHOE 4802423817 2901 NORTH 7TH STREET PHOENIX AZ 85014 COURTNEY LEVINUS PRESIDENT 4802423817 2022-09-12 1 COURTNEY LEVINUS 999009999 DENNIS M HARE P01241957 4803551100 2 AAL1 IAL1 2020 2023-04-26 12:10:37Z COURTNEY LEVINUS 2901 NORTH 7TH STREET PHOENIX AZ 85014 14476557 0 X PHOENIXCC.ORG X 1919 AZ TO PROMOTE SOCIAL INTERACTION & RECREATION FOR THE BENEFIT OF ITS MEMBERS. 10 10 0 10 1003310 34913 0 0 9700521 10583427 14593 11297 1426154 3357657 11141268 13952381 0 0 0 0 5074571 5812411 0 0 0 6118965 6669632 11193536 12482043 -52268 1470338 16178518 18964579 17541127 17861205 -1362609 1103374 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 27 0 1 0 1 1 0 0 0 0 2173405 1003310 0 0 0 X 10 10 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 AZ X TROON GOLF 4802423817 2901 NORTH 7TH STREET PHOENIX AZ 85014 COURTNEY LEVINUS PRESIDENT 5.00 X X 0 0 0 RONALD CASTRO JR VICE PRESIDENT 5.00 X X 0 0 0 RYAN LUKE TREASURER 5.00 X X 0 0 0 CHERI BRADY SECRETARY 5.00 X X 0 0 0 JOHN HEITEL DIRECTOR 1.00 X 0 0 0 WILLIAM BOHNERT DIRECTOR 1.00 X 0 0 0 ANDY FEDERHAR DIRECTOR 1.00 X 0 0 0 JILL ESTEP DIRECTOR 1.00 X 0 0 0 JOHN MAUS DIRECTOR 1.00 X 0 0 0 JOHN WELCH DIRECTOR 1.00 X 0 0 0 DAN BUDZIUS CEO 40.00 X 272638 0 27260 CHARLES COSTELLO SUPERINTENDENT 40.00 X 204178 0 7500 MARCUS DEKONING EXECUTIVE CHEF 40.00 X 133039 0 17385 609855 0 52145 3 0 1 0 0 MEMBERSHIP DUES 713910 6234844 6234844 BANQUET REVENUES 713910 2634494 2297726 336768 FACILITY FEES, RENTAL AND OTHER 713910 1714089 1083460 630629 10583427 11297 3884 7413 796566 524176 272390 272390 INITIATION AND TRANSFER FEES 713910 2173405 2173405 OTHER INCOME 900099 883362 883362 LEASE OF WATER RIGHTS 900099 28500 28500 3085267 13952381 12949071 1003310 0 221945 4703071 474224 413171 200030 8299 26478 6769 29838 189966 28165 778476 4316 2058 697138 1441702 109897 BANQUET FOOD/BEV COST 1207396 LANDSCAPING & CHEMICALS 485087 REPAIRS AND MAINTENANCE 474611 SUPPLIES 354992 624414 12482043 708976 1417301 1994268 4137489 533736 827456 361981 417953 38893 147667 37292145 25275432 12540664 12016713 16178518 18964579 1105821 1614746 16289709 15973971 145597 272488 17541127 17861205 X -1362609 1103374 -1362609 1103374 16178518 18964579 X 1470338 50645 945000 X X 0 1 X 1 0 357702 357702 21220521 14737369 6483152 7956638 3989372 3967266 4745628 3797048 948580 3011656 2751643 260013 12016713 CAPITAL LEASE 272488 272488 X 10571580 -1207396 -1207396 11778976 2173405 2173405 13952381 11274647 0 11274647 1207396 1207396 12482043 PART X, LINE 2: THE CLUB IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE, SO LONG AS NO MORE THAN 35% OF ITS GROSS RECEIPTS COME FROM SOURCES OUTSIDE OF ITS MEMBERSHIP, INCLUDING NO MORE THAN 15% OF ITS GROSS RECEIPTS FROM THE USE OF ITS FACILITIES BY NON-MEMBERS. IF SUCH THRESHOLDS WERE TO BE EXCEEDED, THE CLUB COULD LOSE ITS TAX-EXEMPT STATUS. HISTORICALLY, THE CLUB'S GROSS RECEIPTS FROM OUTSIDE OF ITS MEMBERSHIP HAVE NOT EXCEEDED SUCH THRESHOLDS AND THE CLUB DOES NOT EXPECT THAT THOSE THRESHOLDS WILL BE EXCEEDED IN THE FUTURE. THE CLUB IS SUBJECT TO FEDERAL AND STATE INCOME TAXES ON THE PORTION OF ITS BUSINESS RELATED TO THE USE OF ITS FACILITIES BY NON-MEMBERS AND ON ITS INVESTMENT INCOME. SUCH INCOME IS REFERRED TO AS UNRELATED BUSINESS TAXABLE INCOME OR "UBTI". THE CLUB ALSO EARNS FEDERAL TAX CREDITS FOR EMPLOYMENT TAXES IT PAYS ON TIP INCOME EARNED BY ITS EMPLOYEES AND ON TAXES PAID ON ITS FUEL PURCHASES. THESE TAX CREDITS HAVE EFFECTIVELY MITIGATED THE CLUB'S FEDERAL AND STATE INCOME TAXES IN RECENT YEARS AND RESULTED IN A REFUNDABLE CREDIT FOR TAXES PAID ON ITS FUEL PURCHASES. AS MENTIONED ABOVE, THE CLUB EARNS CERTAIN FEDERAL TAX CREDITS WHICH MAY BE CARRIED FORWARD TO OFFSET FUTURE UBTI FOR UP TO TWENTY YEARS. IN PRIOR YEARS, THE CLUB RECORDED ITS UNUSED FEDERAL TAX CREDIT CARRYFORWARDS AS DEFERRED TAX ASSETS IN ITS STATEMENTS OF FINANCIAL POSITION. DURING THE YEAR ENDED OCTOBER 31, 2020, THE CLUB CHANGED ITS BUSINESS MODEL TO SIGNIFICANTLY REDUCE THE LEVEL OF NON-MEMBER USE OF ITS FACILITIES IN THE FUTURE, THEREBY SIGNIFICANTLY REDUCING THE ANTICIPATED LEVEL OF ITS FUTURE UBTI. AS A RESULT, THE CLUB DETERMINED THAT IT WAS UNLIKELY THAT THE RELATED DEFERRED TAX ASSETS WOULD BE USED IN THE FUTURE AND RECORDED A RELATED VALUATION ALLOWANCE OF $64,184. SUCH AMOUNT IS INCLUDED IN GENERAL AND ADMINISTRATIVE ON THE STATEMENTS OF ACTIVITIES FOR THE YEAR ENDED OCTOBER 31, 2020. THE CLUB EVALUATED ITS VARIOUS HISTORICAL TAX POSITIONS AND CONCLUDED THAT IT HAD TAKEN NO POSITIONS THAT REQUIRE ADJUSTMENT TO THE ACCOMPANYING FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES REPORTED ON FUNCTIONAL EXPENSES. PART XI, LINE 4B - OTHER ADJUSTMENTS: INITIATION FEES PART XII, LINE 4B - OTHER ADJUSTMENTS: COST OF SALES REPORTED ON FUNCTIONAL EXPENSES. X X X 0 0 0 DAN BUDZIUS CEO 231568 0 40812 0 258 0 11211 0 16049 0 299898 0 0 0 CHARLES COSTELLO SUPERINTENDENT 183546 0 13174 0 7458 0 0 0 7500 0 211678 0 0 0 MARCUS DEKONING EXECUTIVE CHEF 123500 0 9281 0 258 0 15865 0 1520 0 150424 0 0 0 FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION HAS DELEGATED CONTROL OVER MANAGEMENT DUTIES TO A MANAGEMENT COMPANY, TROON GOLF, IN REPLACEMENT OF UTILIZING ORGANIZATION EMPLOYEES. ALL FINANCIALS AND REPORTING IS STILL REVIEWED BY THE OFFICERS AND DIRECTORS OF THE PHOENIX COUNTRY CLUB. FORM 990, PART VI, SECTION A, LINE 6 THE CLUB IS A MEMBER BASED ORGANIZATION, EACH MEMBER IS A STOCKHOLDER. FORM 990, PART VI, SECTION A, LINE 7A THE CLUB'S MEMBERS ELECT THE GOVERNING BOARD. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING DECISIONS REQUIRE AN ACTIVE MEMBERSHIP VOTE: INDEBTEDNESS FOR CAPITAL IMPROVEMENTS, POWER TO MORTGAGE OR ENCUMBER, AND ANNUAL ELECTIONS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 WILL BE REVIEWED AND APPROVED BY THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD HAS SIGNED A CODE OF ETHICS THAT INCLUDES A CONFLICT OF INTEREST SECTION. THEY ANNUALLY REVIEW THE BIDDING PROCESS AND MONITOR ANY NEW PURCHASES AND CONTRACTS. FORM 990, PART VI, SECTION B, LINE 15 SALARIES ARE COMPARED TO OTHER CLUBS IN THE AREA. INDEPENDENT STUDIES ARE CONTRACTED PERIODICALLY AS REQUESTED BY THE BOARD OF DIRECTORS. THE BOARD REVIEWS AND APPROVES THE COMPENSATION PACKAGE OF THE CEO AND OTHER OFFICERS AND KEY EMPLOYEES AND MINUTES ARE KEPT OF THE DELIBERATION AND DECISION. THE COMPENSATION PROCESS WAS LAST ACCOMPLISHED IN 2017. FORM 990, PART VI, SECTION C, LINE 19 ANY WRITTEN POLICIES OR DOCUMENTS ARE AVAILABLE UPON REQUEST. THE YEAR END AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE WEBSITE. FORM 990, PART XI, LINE 9: PROCEEDS FROM ISSUANCE OF EQUITY MEMBERSHIPS 1,155,000. REFUNDS ON REISSUANCE OF EQUITY MEMBERSHIPS -210,000.