2022-09-15T17:49:12-05:00 2021-10-31 362985770 SELDEN FOX LTD 619 ENTERPRISE DRIVE OAK BROOK IL 605238835 990 2020-11-01 361716480 RUTH LAKE COUNTRY CLUB RUTH 6309862060 6200 S MADISON STREET HINSDALE IL 60521 BLAKE BONYKO PRESIDENT 6309862060 2022-09-12 1 BLAKE BONYKO 999009999 PAUL J ROZEK P00542258 6309541400 2 AAL1 IAL1 2020 2023-04-26 12:10:37Z BLAKE BONYKO 6200 S MADISON STREET HINSDALE IL 60521 12097939 0 X RUTHLAKECC.ORG X 1922 IL TO PROVIDE FOR THE MEMBERSHIP EXCELLENT SERVICES PROVIDED BY AN OUTSTANDING STAFF IN A QUALITY CLUBHOUSE, EXCELLENT MAINTAINED GOLF COURSE, TENNIS, AND SWIMMING FACILITIES. 13 13 228 13 587105 31472 0 0 7527175 8995917 30089 35775 1430273 1738744 8987537 10770436 0 0 0 0 4061657 4592624 0 0 0 3021320 3445963 7082977 8038587 1904560 2731849 19926808 22115785 2286610 2524679 17640198 19591106 TO PROVIDE FOR THE MEMBERSHIP EXCELLENT SERVICES PROVIDED BY AN OUTSTANDING STAFF IN A QUALITY CLUBHOUSE, EXCELLENT MAINTAINED GOLF COURSE, TENNIS, AND SWIMMING FACILITIES. 0 0 A PRIVATE CLUB PROVIDING GOLF, SWIMMING, TENNIS, AND DINING FACILITIES FOR THE BENEFIT OF ITS MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 1 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 14 0 1 228 1 1 1 0 0 0 0 3573536 717050 0 0 0 X 13 13 0 0 0 0 1 1 1 1 1 0 0 1 0 0 1 1 1 0 X BUTCH BAUDHUIN 6309862060 6200 S MADISON STREET HINSDALE IL 60521 JAMES NOTH MD PRESIDENT 5.00 X X 0 0 0 BLAKE BONYKO VICE PRESIDENT 5.00 X X 0 0 0 BRUCE GILBERT SECRETARY 5.00 X X 0 0 0 CHRIS CATALANO TREASURER 5.00 X X 0 0 0 JIM COLLINS DIRECTOR 5.00 X 0 0 0 JOHN DEAN DIRECTOR 5.00 X 0 0 0 TOM DRISCOLL DIRECTOR 5.00 X 0 0 0 DARIUS GILL DIRECTOR 5.00 X 0 0 0 KELLY ISENHART DIRECTOR 5.00 X 0 0 0 CHRIS LARSON DIRECTOR 5.00 X 0 0 0 BARRY SCHWARTZ END 1220 DIRECTOR 5.00 X 0 0 0 KYLE STERN DIRECTOR 5.00 X 0 0 0 BRIAN WEED DIRECTOR 5.00 X 0 0 0 JIM WEIL DIRECTOR 5.00 X 0 0 0 BRETT WOODWARD END 1220 DIRECTOR 5.00 X 0 0 0 KEVIN S KENNEBECK GENERAL MANAGER 50.00 X 255357 0 47038 PATRICK BAUDHUIN CONTROLLER 50.00 X 111124 0 21642 DANIEL MARCO GROUNDS SUPERINTENDENT 60.00 X 236627 0 33592 MARK LABIAK GOLF PRO 60.00 X 121047 0 26073 BRIAN PAGE TENNIS PRO 60.00 X 172902 0 22451 THOMAS BIRMINGHAM EXECUTIVE CHEF 50.00 X 122601 0 17623 MICHAEL PROBST FOOD AND BEVERAGE DIRECTOR 50.00 X 109069 0 3289 1128727 0 171708 7 0 1 0 0 MEMBERSHIP DUES & ASSESSMENTS 713910 3340425 3340425 INITIATION FEES 713910 2919141 2919141 GOLF OPERATIONS 713910 1073853 925118 148735 CAPITAL ASSESSMENTS 713910 654395 654395 FOOD DEPARTMENT 713910 366014 366014 642089 642089 8995917 35775 35775 3040525 1327503 1713022 1310427 402595 MISCELLANOUES INCOME 900099 16351 16351 FINANCE CHARGES 900099 9371 9371 25722 10770436 10183331 587105 0 435161 3164174 37537 486716 469036 87971 19313 50193 391289 36500 1303848 SUPPLIES 636074 EQUIPMENT REPAIR AND MA 347613 SPORTING AND PASTIMES E 151634 SOCIAL AND ENTERTAINMEN 141242 280286 8038587 1914888 4440097 990534 777568 167501 163293 98982 117932 33910620 18419050 15905979 15491570 848924 1125325 19926808 22115785 1105012 1340612 332674 58742 848924 1125325 2286610 2524679 X 17640198 19591106 17640198 19591106 19926808 22115785 X 2731849 -101183 -679757 X 0 1 X 1 0 54500 54500 13840449 6039338 7801111 12536063 6687453 5848610 6639330 5683592 955738 840278 8667 831611 15491570 DEFERRED COMPENSATION PLAN 1125325 1125325 DEFERRED COMPENSATION PLAN 1125325 1125325 X 13098531 1000592 1000592 12097939 -1327503 -1327503 10770436 10366683 1327503 1327503 9039180 -1000592 -1000592 8038588 PART X, LINE 2: THE CLUB IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE. HOWEVER, UNDER THIS SECTION, INVESTMENT AND NONMEMBER INCOME, AS DEFINED, ARE SUBJECT TO FEDERAL AND STATE TAXES AT CORPORATE RATES. AS OF OCTOBER 31, 2021, THE CLUB'S INCOME TAX RETURNS FOR FISCAL YEARS 2017 AND SUBSEQUENT ARE OPEN TO EXAMINATION BY THE INTERNAL REVENUE SERVICE ("IRS"). FINANCIAL ACCOUNTING STANDARD BOARD ("FASB") ACCOUNTING STANDARDS CODIFICATION ("ASC") SUBTOPIC 740-10, "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES," REQUIRES THAT UNCERTAIN INCOME TAX POSITIONS BE RECORDED IN THE FINANCIAL STATEMENTS AT AN AMOUNT THAT WOULD MOST LIKELY BE REALIZED ASSUMING A REVIEW BY THE TAX AUTHORITIES. MANAGEMENT HAS ASSESSED ITS INCOME TAX POSITIONS AND BELIEVES ANY POTENTIAL LIABILITY THAT MIGHT ARISE FROM A REVIEW BY TAX AUTHORITIES WOULD NOT HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS TAKEN AS A WHOLE. PART XI, LINE 2D - OTHER ADJUSTMENTS: EMPLOYEE RETENTION CREDIT 1,000,592. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -1,327,503. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 1,327,503. PART XII, LINE 4B - OTHER ADJUSTMENTS: EMPLOYEE RETENTION CREDIT -1,000,592. X 0 0 X 0 1 0 KEVIN S KENNEBECK GENERAL MANAGER 205087 0 36000 0 14270 0 27269 0 19769 0 302395 0 0 0 DANIEL MARCO GROUNDS SUPERINTENDENT 212351 0 24000 0 276 0 12243 0 21349 0 270219 0 0 0 BRIAN PAGE TENNIS PRO 42475 0 2029 0 128398 0 4102 0 18349 0 195353 0 0 0 PART I, LINE 4B THE CLUB SPONSORS A 401(K) PLAN THAT IS AVAILABLE TO SUBSTANTIALLY ALL EMPLOYEES THAT ARE 21 YEARS OF AGE AND HAVE COMPLETED ONE YEAR OF SERVICE, AS DEFINED. UNDER THE PLAN, PARTICIPANTS ARE ABLE TO CONTRIBUTE A PERCENTAGE OF THEIR ANNUAL SALARY, SUBJECT TO IRS LIMITATIONS. CLUB MATCHING CONTRIBUTIONS ARE DISCRESTIONARY. THE CLUB CURRENTLY MATCHES 100% OF THE FIRST 3% OF COMPENSATION THAT THE PARTICIPANT CONTRIBUTES TO THE PLAN AND AN ADDITIONAL 50% UP TO 5% OF THE PARTICIPANT'S COMPENSATION CONTRIBUTION TO THE PLAN. PARTICIPANTS ARE FULLY VESTED IN THEIR CONTRIBUTIONS AND VEST RATABLY OVER SIX YEARS IN ANY CLUB MATCHING CONTRIBUTIONS. THE CLUB HAS NON-QUALIFIED DEFERRED COMPENSATION AGREEMENTS WITH CERTAIN KEY EMPLOYEES. THE AGREEMENTS ARE FUNDED THROUGH ELECTIVE SALARY DEFERRALS MADE BY THE PARTICIPANTS AND DISCRETIONARY CONTRIBUTIONS FROM THE CLUB. ASSETS SET ASIDE TO FUND THIS LIABILITY ARE INVESTED IN MUTUAL FUNDS THAT ARE STATED AT FAIR VALUE ON TEH STATEMENTS OF FINANCIAL POSITION. THE AMOUNT DUE TO THE PARTICIPANTS IS EQUAL TO THE VALUE OF THE INVESTMENT ACCOUNT HELD BY THE CLUB ON THEIR BEHALF. FORM 990, PART VI, SECTION A, LINE 6 THERE ARE TWO MAJOR CLASSES OF MEMBERS, EQUITY MEMBERS AND NON-EQUITY MEMBERS. EQUITY MEMBERS ARE MEMBERS WHO ARE ENTITLED TO SHARE IN LIQUIDATION PROCEEDS, AND WHO PURCHASE A REDEEMABLE OR PARTIALLY REDEEMABLE CERTIFICATE, ARE DEEMED "EQUITY" MEMBERS. THESE MEMEBERS HAVE THE AUTHORITY TO ELECT THE GOVERNING BODY AND ALSO APPROVE SIGNIFICANT DECISIONS BY THE GOVERNING BODY. NON-EQUITY MEMBERS ARE MEMBERS WHO ARE NOT ENTITLED TO VOTE, HOLD OFFICE, SHARE IN LIQUIDATION PROCEEDS, OR HAVE THEIR INITIATION FEES REFUNDED IN WHOLE OR IN PART ARE DEEMED "NON-EQUITY" MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A VACANCIES OCCURING ON THE BOARD OF DIRECTORS DURING THE YEAR SHALL BE FILLED BY THE BOARD, BY APPOINTMENT, THE APPOINTEE WILL HOLD OFFICE UNTIL HIS SUCCESSOR HAS BEEN DULY ELECTED TO ASSUME OFFICE. FORM 990, PART VI, SECTION A, LINE 7B THE EQUITY MEMBERS HAVE THE RIGHT TO RATIFY SIGNIFICANT DECISIONS MADE BY THE BOARD MEMBERS. EXAMPLES OF THESE SIGNIFICANT DECISIONS INCLUDE; INCREASE DUES, LEVYING NON-OPERATING ASSESMENTS, INCURRING AN INDEBTEDNESS WHICH IS NOT IN THE USUAL COURSE OF BUSINESS, THE SALE OR DISPOSAL OF REAL PROPERTY, AND ALTERING, AMENDING OR REPEALING BY-LAWS. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM, SELDEN FOX, LTD., AND IS REVIEWED BY THE ORGANIZATION'S TREASURER. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR EMPLOYEES OTHER THAN KEY EMPLOYEES IS REVIEWED ANNUALLY BY THE DEPARTMENT HEAD AND GENERAL MANAGER. FORM 990, PART VI, SECTION C, LINE 19 A PRIVATE MEMBER CLUB IS NOT REQUIRED TO MAKE THE GOVERNING DOCUMENTS, OR FINANCIAL STATEMENTS, AVAILABLE TO THE PUBLIC. HOWEVER, FORM 990 IS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: EQUITY REFUNDS -679,757.