2025-06-13T07:46:49+00:00 2024-10-31 440160260 Forvis Mazars LLP 500 Ridgefield Court Asheville NC 28806 990 2023-11-01 561184946 Highlands Falls Country Club Inc HIGH 8285264118 ONE CLUB DRIVE HIGHLANDS NC 28741 CHUCK CARVER PRESIDENT 2025-06-13 true Amy Bibby P00445891 8282542254 2025-06-06 2023 2025-03-06 01:10:19Z JASON MACAULAY ONE CLUB DRIVE HIGHLANDS NC 28741 9671405 false X WWW.CLUBHFCC.COM X 1977 NC TO PROVIDE SOCIAL ACTIVITIES FOR MEMBERS THROUGH GOLF AND DINING. 8 8 79 25 798012 199791 62870 0 6993610 7858057 154098 251844 1008714 994840 8219292 9104741 1750 2000 0 0 3420923 3857989 0 0 0 3660122 3993731 7082795 7853720 1136497 1251021 22223259 23721646 12513705 12754071 9709554 10967575 TO PROVIDE SOCIAL ACTIVITIES FOR MEMBERS THROUGH GOLF AND DINING. false false MAINTAINED AND OPERATED AN 18-HOLE GOLF COURSE, DINING FACILITIES, FITNESS CENTER, CLUBHOUSE, SWIMMING POOL, TENNIS COURTS, AND GOLF PRO SHOP FOR CLUB MEMBERS AND THEIR GUESTS. 0 false false false false false false false false true false false false true true false true false false false false false false false false false false false true false false false false false false false false false false true false false false true 32 0 true 79 true true true false false false false 655021 360912 false false false X 8 8 false false false false true true true true true false false false true true true true true true true false NC X X X Dee Anna Clarke 7044918018 ONE CLUB DRIVE HIGHLANDS NC 28741 Craig Fravert President 5.0 X X 0 0 0 Jim Turner Treasurer/Finance Chair 5.0 X X 0 0 0 Peter Portley Secretary 5.0 X X 0 0 0 Bob Hamrich Board Member 5.0 X 0 0 0 David Murray Board Member 5.0 X 0 0 0 Greg Copeland Board Member 5.0 X 0 0 0 Karl Beier Board Member 5.0 X 0 0 0 Mary Watts Board Member 5.0 X 0 0 0 Fred Gehrisch GM/COO 40.0 X 260651 0 18003 Allen Chandler Former Head Pro 40.0 X 113815 0 7601 Jessica Emery Membership Director 40.0 X 152414 0 5902 Josh Cantrell Golf Course Super 40.0 X 144468 0 8629 Onifer Wilmoth Wellness Director 40.0 X 103377 0 7069 Shawn Olah Executive Chef 40.0 X 176612 0 8893 951337 0 56097 7 false true false 0 0 MBRSHP DUES & ASSESSMENTS 713910 7198858 7198858 GOLF & PRO SHOP 713910 526624 165712 360912 FITNESS CENTER 713940 110080 110080 CROQUET 713940 17602 17602 TENNIS 713940 4893 4893 0 0 0 0 7858057 262887 262887 75466 75466 0 75466 75466 44090 55133 0 -11043 -11043 -11043 1413319 511531 901788 803041 98747 LATE CHARGES 713910 10729 10729 MISCELLANEOUS REVENUE 713910 6857 6857 0 0 0 0 17586 9104741 8300186 798012 6543 2000 260651 3048834 71223 161862 315419 527551 89152 1367597 60605 547223 21816 753 276518 800321 148508 MISCELLANEOUS 3225 INCOME TAX EXPENSE 3374 bad debt expense 147088 0 7853720 768574 250514 3440366 4803091 140327 291399 0 0 137445 132017 140052 107008 31395369 13768878 16892851 17626491 0 0 703644 511126 22223259 23721646 452265 516859 4864724 5416866 0 6493072 6156220 703644 664126 12513705 12754071 X 9709554 10967575 9709554 10967575 22223259 23721646 X 1251021 7000 X X false true X true false 609696 609696 12866660 6017089 6849571 3798097 1776179 2021918 14120916 5975610 8145306 17626491 operating lease liability 511126 settlement liability 153000 664126 X 9633683 540574 540574 9093109 11632 11632 9104741 8375662 522574 522574 7853088 632 632 7853720 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote Income taxes are provided for the tax effects of transactions reported in the consolidated financial statements. Deferred income taxes are provided for the estimated tax effects of differences between the financial statement carrying amounts and the tax bases of recognized assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Club accounts for uncertain tax positions in accordance with the accounting principles generally accepted in the United States of America, under which liabilities for uncertain tax positions are recognized in the consolidated financial statements when it becomes probable a liability has been incurred and the amount can be reasonably estimated. The club had no material tax liability for federal and state income taxes or the years ended October 31, 2024 and 2023. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 COST OF GOODS SOLD - 511531 SALE OF EQUITY CERTIFICATES - 18000 Sale of Assets Loss in Expense - 11043 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements REDEMPTION OF EQUITY CERTIFICATES - 11000 Expense in Revenue - 632 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 COST OF GOODS SOLD INCLUDED IN EXPENSES - 511531 Sale of Assets Loss in Expense - 11043 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Expense in Revenue - 632 X true false X X X X true false false Fred Gehrisch GM/COO 219251 0 33000 0 8400 0 8123 0 9880 0 278654 0 0 0 Shawn Olah Executive Chef 135719 0 16085 0 24808 0 5751 0 3142 0 185505 0 0 0 Jessica Emery Membership Director 66774 0 85250 0 390 0 2760 0 3142 0 158316 0 0 0 Josh Cantrell Golf Course Super 144468 0 0 0 0 0 5487 0 3142 0 153097 0 0 0 Schedule J, Part I, Line 1a Housing allowance or residence for personal use The organization paid a housing allowance of $24,000 to the Executive Chef as part of their compensation agreement. The allowance is included in their paycheck and taxed accordingly. Schedule J, Part I, Line 4a Severance or change-of-control payment Judy Gregory was terminated in 2024 and received a severance payment of $31,800. Form 990, Part VI, Line 15 The GM/COO's compensation is compared to similar positions with clubs of similar revenue and geographical location as benchmarks. The board reviews the performance of the position and determines compensation appropriately. Form 990, Part VI, Line 6 Classes of members or stockholders THE ORGANIZATION IS A COUNTRY CLUB WHICH HAS SEVERAL CLASSES ON MEMBERS: OWNERS OF EQUITY, FOUNDERS, SOCIAL, SOCIAL A, YOUNG EXECUTIVE, AND EMERITUS EQUITY MEMBERS. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body EQUITY AND FOUNDER MEMBERS SHALL BE ENTITLED TO VOTE AT ALL MEETINGS OF THE MEMBERS, AND THERE SHALL BE ONE VOTE PER MEMBERSHIP. THESE MEMBERS MAY VOTE ON ELECTING MEMBERS OF THE GOVERNING BODY. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders OWNERS OF EQUITY AND FOUNDER MEMBERSHIPS ARE ENTITLED TO VOTE ON ALL MATTERS THAT COME BEFORE THE MEETINGS OF THE MEMBERS. THE RIGHTS OF SOCIAL, SOCIAL A, YOUNG EXECUTIVE AND EMERITUS EQUITY MEMBERS TO VOTE ARE LIMITED TO A ONE-THIRD VOTE ON PROPOSED ASSESSMENTS ONLY AND MAY NOT VOTE ON OTHER MATTERS. ONLY MEMBERS IN GOOD STANDING MAY VOTE. Form 990, Part VI, Line 11b Review of form 990 by governing body THE FINANCE COMMITTEE AND BOARD REVIEWED THE 990 PRIOR TO FILING THE RETURN WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy THE CLUB HAS A CONFLICT OF INTEREST POLICY WHICH IT ENFORCES ON A CASE BY CASE BASIS. BOARD MEMBERS ARE RESPONSIBLE FOR ADDRESSING ANY POTENTIAL CONFLICT AND EXCUSING THEMSELVES FROM VOTING ON MATTERS WHERE A POTENTIAL CONFLICT MAY EXIST. EMPLOYEES MUST DISCLOSE ANY POTENTIAL CONFLICTS TO THE GENERAL MANAGER. Form 990, Part VI, Line 18 How forms are made available to the public THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST, ON ITS WEBSITE, AND ON WWW.GUIDESTAR.ORG. Form 990, Part VI, Line 19 Required documents available to the public THE FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE FOR PUBLIC INSPECTION. Form 990, Part XI, Line 9 Other changes in net assets or fund balances SALE OF EQUITY CERTIFICATES - 18000; REDEMPTION OF EQUITY CERTIFICATES - -11000; Form 990, Part XII, Line 2c Change of oversight process or selection process THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. HIGHLAND FALLS EMPLOYEE HOUSING LLC ONE CLUB DRIVE HIGHLANDS NC 28741 EMPLOYEE HOUSING NC 75466 0 HIGHLANDS FALLS COUNTRY NORTH CAROLINA CLUB INC