2024-11-14T18:21:44-06:00 2023-12-31 450250958 Eide Bailly LLP 800 Nicollet Mall Ste 1300 Minneapolis MN 554027033 990 2023-01-01 880186918 Spring Creek Association SPRI 7757536295 401 Fairway Boulevard Spring Creek NV 89815 Jessie Bahr Corporate President 7757536295 2024-11-14 1 1 Deb Nelson CPA P01264758 6122536500 2024-11-08 2023 2024-10-15 13:58:12Z Jessie Bahr 401 Fairway Boulevard Spring Creek NV 89815 8624857 0 X www.springcreeknv.org X 1983 NV To promote the common good and social welfare of all of its residents and the community. 7 7 90 20 -14695 0 196306 2668267 5390754 5821940 150832 107903 4344 -14329 5742236 8583781 0 0 0 0 2085183 2233562 0 0 0 4029467 4419848 6114650 6653410 -372414 1930371 12276512 14131446 2094703 1919331 10181809 12212115 To promote the common good and social welfare of all of its residents and the community. 0 0 2723015 5821940 Maintenance and operation of recreational facilities - all recreational facilities are open for public use. 2486820 Road construction and maintenance - the association regularly maintains 144 miles of roads and street rights-of-way throughout their grounds and accessible to the public. By doing this, the Association has lessened the burden of local government. 5209835 0 1 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 1 0 0 0 0 0 0 0 1 5 0 1 90 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 0 1 1 1 0 0 1 1 0 X Association Office 7757536295 401 Fairway Blvd Spring Creek NV 89815 John Featherston Chair 1.00 X X 0 0 0 Tom Hannum Vice Chair 1.00 X X 0 0 0 Kelly DiLulo Director (beg June 2023) 1.00 X 0 0 0 Jody Atkin Director (beg June 2023) 1.00 X 0 0 0 Molly Popp Director 1.00 X 0 0 0 Jake Reed Director 1.00 X 0 0 0 Randy Mauldin Director 1.00 X 0 0 0 Joshua Park Director (until June 2023) 1.00 X 0 0 0 Karl Young Director (until June 2023) 1.00 X 0 0 0 Jessie Bahr Corporate President 40.00 X 159494 0 24293 Kristine Austin-Preston Corporate Treasurer & Secr 40.00 X 126940 0 13781 286434 0 38074 2 0 1 0 McConnell Law 950 Idaho St Elko NV 89801 Legal 266587 1 2668267 85000 2668267 Membership Dues & Asse 531390 4692875 4692875 Golf Course 713910 521053 521053 Lease Income 531190 83963 83963 Buildings and Faciliti 561700 70072 70072 Horse Palace 713990 45211 45211 408766 408766 5821940 108778 108778 13572 12300 13206 26995 366 -14695 -14329 -14695 366 875 -875 -875 -875 8583781 5821940 -14695 108269 324508 324508 1475882 1244291 231591 59238 53099 6139 218682 188707 29975 155252 108010 47242 265686 265686 247207 154808 92399 5086 5086 39643 1854 37789 2559 632 1927 705053 705053 477101 160370 316731 Repairs & Maintenance 1502864 1482175 20689 Utilities 564637 555777 8860 Supplies 310140 304139 6001 Special Events 50708 50708 249164 200212 48952 6653410 5209835 1443575 0 57051 243893 4225037 3985693 181820 266771 52372 36736 107793 114202 16470568 6993844 7645012 9476724 7427 7427 12276512 14131446 472843 269248 1616700 1644623 5160 5460 2094703 1919331 X -671054 -2696 10852863 12214811 10181809 12212115 12276512 14131446 1930371 99935 0 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1162426 1162426 6296915 2342420 3954495 4276181 3099912 1176269 4735046 1551512 3183534 9476724 Security Deposits 5460 5460 X 8623981 0 8623981 -40200 -40200 8583781 6693610 40200 40200 6653410 0 6653410 Part X, Line 2: The Association is taxed on the net income of any business activities unrelated to its exempt purpose. Net nonexempt function income, which includes rental income, is taxed at 21% by the federal government. The Association evaluates its tax positions that have been taken or are expected to be taken on income tax returns to determine if an accrual is necessary for uncertain tax positions. As of December 31, 2023, the unrecognized tax benefit accrual was zero. The Association will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred. Part XI, Line 4b - Other Adjustments: Rental Expenses Reported in Revenue for Tax Purposes -40,200. Part XII, Line 2d - Other Adjustments: Rental Expenses Reported in Revenue for Tax Purposes 40,200. X 0 0 0 0 0 0 0 1 0 Jessie Bahr Corporate President 159494 0 0 0 0 0 5500 0 18793 0 183787 0 0 0 Part I, Line 7 The Corporate Treasurer & Secretary's bonus is determined by the Corporate President. X 1 85000 FMV 0 0 0 0 Part I, Column (b): The number reported in Column (b) is the number of contributions. Form 990, Part VI, Section A, line 6 As per Article III of the Association bylaws, every owner of a lot within the association is automatically a member of the association, and thereby entitled to vote. Form 990, Part VI, Section A, line 7a The Association holds elections for the Board of Directors on a bi-annual basis. Members who are eligible to vote may cast their vote by mail. Votes are tallied by a third party and the results are announced at the annual meeting. This method is used both for election of members and any proposed action that is up for vote by members. Form 990, Part VI, Section A, line 7b The association needs approval by the members for the following: A) To borrow money, mortgage, pledge, deed in trust, or hypothecate any or all of the association property as security for money borrowed or debts incurred (Articles of Incorporation, Article IV, Section 7). B) To sell, transfer, or convey all or any part of the common recreation facilities (Articles of Incorporation, Article IV, Section 8). C) To dedicate, sell, lease, or transfer all or any part of the association property to any public agency authority or utility (Articles of Incorporation, Article IV, Section 9). D) To amend the Articles of Incorporation (Articles of Incorporation, Article XIII). Form 990, Part VI, Section A, line 8b There are no committees with broad authority to act on behalf of the Board of Directors. Form 990, Part VI, Section B, line 11b The Form 990 is reviewed and approved by the Corporate President, Corporate Treasurer & Secretary, Chair of the Board, and at least one other Director prior to filing. Form 990, Part VI, Section B, line 12c If a Director has a conflict of interest with any item before the Board, they inform the Chair that they will be abstaining from the vote on the matter and only provide any other information that the Board requested in order to make an informed decision. Form 990, Part VI, Section B, line 15 The Board of Directors bases salary on industry standards and then modifies the amount based on the experience and qualifications of the individual. Evaluations are performed annually by the Board of Directors and/or bonuses are determined at the time of the evaluation. Form 990, Part VI, Section C, line 19 Governing documents are provided in the homeowner welcome packet, are handed out at the annual meeting, are available upon request, and are on the Association's website. Financial Statements and the Conflict of Interest policies are available upon request at the Association's Administrative Office.