2024-04-21T14:23:06-07:00 2023-12-31 990 2023-01-01 942435764 The Priory THEP 4157281469 229 Laurel Grove Avenue Kentfield CA 94904 Michael Strohl Treasurer 4152631319 2024-04-21 Michael Strohl 999009999 1 1 11 1 AAL2 X 2023 2023-04-26 12:10:37Z Kelly Alpert 229 Laurel Grove Avenue Kentfield CA 94904 144320 0 X www.theprioryclub.com X 1977 CA The Priory is a neighborhood club which promotes exercise and socialization among neighbors by providing to its members social activities and facilities and instruction for tennis, swimming, and Bocce. 5 5 2 20 0 0 119331 133200 7085 3693 0 0 6416 7427 132832 144320 0 0 0 0 5477 4068 0 0 0 184429 126370 189906 130438 -57074 13882 591196 802778 0 7200 591196 795578 The Priory is a neighborhood club which promotes exercise and socialization among neighbors by providing to its members social activities and facilities and instruction for tennis, swimming, and Bocce. 0 0 Provided tennis facilities, instruction and activities to members. Provided swimming facilities, instruction and activities to members. Provided Bocce facilities and activities to members. 0 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 X 8 0 1 2 1 1 0 0 0 0 0 0 3827 0 0 0 X 5 5 0 0 0 0 1 1 1 1 1 0 0 1 0 0 0 0 0 0 X Moses Gittens 4157281469 229 Laurel Grove Avenue Kentfield CA 94904 X Kelly Alpert President 7 0 X X 0 0 0 Ashley Harris Vice-President 5 0 X X 0 0 0 Kirt Klimenko Vice-President 5 0 X X 0 0 0 Michael Strohl Treasurer 4 0 X X 0 0 0 Dennis Ryan Secretary 4 0 X X 0 0 0 0 0 0 0 0 0 0 0 0 133200 0 0 0 0 0 133200 Special Activities 713900 1793 1793 0 0 Member use of Wellhouse 713900 1850 1850 0 0 Fees for new keys 713900 50 50 0 0 0 0 0 0 3693 3827 0 0 0 3827 0 3827 0 0 3827 0 0 0 Membership transfer fees 713900 2000 2000 0 0 Other revenue 713900 1600 1600 0 0 0 0 0 0 3600 144320 7293 0 3827 0 0 0 0 0 0 3061 0 0 1007 14236 0 0 0 0 0 0 0 235 0 0 87441 0 0 0 0 0 0 7240 Special Activities 7630 Taxes and filing fees 7088 Miscellaneous 2500 130438 0 0 0 32723 244306 0 0 0 0 0 0 0 0 0 558473 1 558473 558472 0 0 0 0 0 591196 802778 7200 0 7200 X 460080 650580 168200 168200 -37084 -23202 591196 795578 591196 802778 X 13882 0 0 0 0 190500 X 0 0 0 130564 0 130564 427909 0 1 427908 0 0 0 0 0 0 0 0 0 0 0 0 558472 Form 990, Part V, Line 3b The Priory's tennis pro rented tennis courts from the club to provide lessons to non-members of the club. The rental amount was a fixed percentage of the lesson fees from those lessons. If the payments to the club constitute unrelated business income, they do not constitute unrelated business taxable income. Chapter 4 of IRS Publication 598 provides: "Rents from real property, including elevators and escalators, are excluded in computing UBTI...The exclusion for rents doesn't apply if the amount of the rent depends on the income or profits derived by any person from the leased property, other than an amount based on a fixed percentage of the gross receipts or sales." (Page 10) Since the rental income to the club was for real property (tennis courts) and the rental amount was a fixed percentage of the gross receipts or sales from the rental (the lesson fees), the rental income is not taxable unrelated business income. Form 990, Part VI, Section A, Line 6 The Priory is a recreational organization composed of members. Form 990, Part VI, Section A, Line 7a Members of The Priory annually elect four or five officers and Board members. Form 990, Part VI, Section A, Line 7b A majority (or greater) vote of the members is required for certain large financial matters, to install lighting equipment for athletic facilities, to amend or repeal a prohibition on the use of motor vehicles as transportation to or from the facility, or to remove large trees. Form 990, Part VI, Section B, Line 11b The completed Form 990 was e-mailed to the members of the Board and officers, with a request for comments and/or corrections. Form 990, Part VI, Section C, Line 19 The Priory considers requests for copies of its governing documents and financial statements from persons who submit a request at its mailing address. Form 990, Part XI, Line 9 The capital stock was increased by $190,500 based an increase in the capital contribution for all members and by the difference between the capital contribution of incoming members and the return of capital contribution to departing members.