2025-08-14T15:36:18-05:00 2024-10-31 362985770 SELDEN FOX LTD ONE PARKVIEW PLAZA SUITE 710 OAKBROOK TERRACE IL 60181 990 2023-11-01 361716480 RUTH LAKE COUNTRY CLUB RUTH 6309862060 6200 S MADISON STREET HINSDALE IL 60521 CHRIS CATALANO PRESIDENT 6309862060 2025-07-31 1 0 PAUL J ROZEK P00542258 6309541400 2023 2025-03-06 01:10:19Z CHRIS CATALANO 6200 S MADISON STREET HINSDALE IL 60521 18800605 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 13 291 13 1179034 208079 0 0 9301310 14441908 143970 122736 2426239 2541589 11871519 17106233 0 0 0 0 6798762 7206853 0 0 0 3831489 4152785 10630251 11359638 1241268 5746595 21340047 27918779 2637448 3437308 18702599 24481471 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 23 0 1 291 1 1 1 0 0 0 0 7664568 1269502 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 CHRIS CATALANO PRESIDENT 5.00 X X 0 0 0 BLAKE BONYKO END 1223 PRESIDENT 5.00 X X 0 0 0 BARRY SCHWARTZ VICE PRESIDENT 5.00 X X 0 0 0 CHRIS LARSON SECRETARY 5.00 X X 0 0 0 DARIUS GILL END 1223 SECRETARY 5.00 X 0 0 0 CHARLES BUSH-JOSEPH DIRECTOR 5.00 X 0 0 0 JOHN DEAN DIRECTOR 5.00 X 0 0 0 DEREK DELAMATER DIRECTOR 5.00 X 0 0 0 TOM DRISCOLL END 1223 DIRECTOR 5.00 X 0 0 0 GRADY HAMILTON DIRECTOR 5.00 X 0 0 0 KELLY ISENHART END 1223 DIRECTOR 5.00 X 0 0 0 RJ LANGE DIRECTOR 5.00 X 0 0 0 SCOTT PJESKY DIRECTOR 5.00 X 0 0 0 KYLE STERN TRASURER 5.00 X 0 0 0 SCOTT STRAUSSER DIRECTOR 5.00 X 0 0 0 PHILLIP TEUSCHER DIRECTOR 5.00 X 0 0 0 JIM WEIL DIRECTOR 5.00 X 0 0 0 KEVIN S KENNEBECK GENERAL MANAGER 50.00 X 291362 0 46797 PATRICK BAUDHUIN CONTROLLER 50.00 X 129677 0 20923 DANIEL MARCO GROUNDS SUPERINTENDENT 60.00 X 280725 0 51536 MARK LABIAK GOLF PRO 60.00 X 126588 0 26816 THOMAS BIRMINGHAM EXECUTIVE CHEF 50.00 X 197598 0 32504 MIKE FRANCO PADDLE PRO 50.00 X 171324 0 23148 MIKE PROBST F&B DIRECTOR 50.00 X 114817 0 11020 1312091 0 212744 7 0 1 0 0 CAPITAL ASSESSMENTS 713910 4924023 4924023 MEMBERSHIP DUES & ASSESSMENTS 713910 4381439 4381439 INITIATION FEES 713910 2433795 2433795 GOLF OPERATIONS 713910 1306666 1113542 193124 FOOD DEPARTMENT 713910 599691 599691 796294 796294 14441908 230922 230922 108186 -108186 -108186 -108186 4088672 1586186 2502486 1747498 754988 FINANCE CHARGES 900099 24179 24179 MISCELLANOUES INCOME 900099 14924 14924 39103 17106233 15927199 1179034 0 488748 5396003 59756 625101 637245 52422 26579 91314 482243 16813 1522907 SUPPLIES 728292 EQUIPMENT REPAIR AND MA 411048 SPORTING AND PASTIMES E 203059 SOCIAL AND ENTERTAINMEN 198158 419950 11359638 3829747 4960931 725575 927324 190301 210006 156763 208704 40256452 20530265 15257433 19726187 1180228 1885627 21340047 27918779 1387323 1568803 69897 15155 1180228 1853350 2637448 3437308 X 18702599 24481471 18702599 24481471 21340047 27918779 X 5746595 32277 X 0 1 X 1 0 54500 54500 16882395 7325822 9556573 14590277 8202531 6387746 7441014 5001912 2439102 1288266 1288266 19726187 DEFERRED COMPENSATION PLAN 1388202 OPERATING LEASE 465148 INTEREST RATE CAP AGREEMENT 32277 1885627 DEFERRED COMPENSATION PLAN 1388202 OPERATING LEASE 86376 OPERATING LEASE LIABILITY, NET OF CURRENT PORTION 378772 1853350 X 18724696 32277 32277 18692419 -1586186 -1586186 17106233 12945824 1586186 1586186 11359638 0 11359638 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, 2024, THE CLUB'S INCOME TAX RETURNS FOR FISCAL YEARS 2020 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: CHANGE IN VALUE OF INTEREST RATE SWAP 32,277. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -1,586,186. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 1,586,186. X 0 0 X 0 1 0 KEVIN S KENNEBECK GENERAL MANAGER 224446 0 58000 0 8916 0 28583 0 18214 0 338159 0 0 0 DANIEL MARCO GROUNDS SUPERINTENDENT 237394 0 41400 0 1931 0 33142 0 18394 0 332261 0 0 0 THOMAS BIRMINGHAM EXECUTIVE CHEF 164882 0 32200 0 516 0 13685 0 18819 0 230102 0 0 0 MIKE FRANCO PADDLE PRO 57182 0 114142 0 0 0 5311 0 17837 0 194472 0 0 0 MARK LABIAK GOLF PRO 92188 0 33723 0 677 0 8063 0 18753 0 153404 0 0 0 PATRICK BAUDHUIN CONTROLLER 107161 0 22000 0 516 0 4149 0 16774 0 150600 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: CHANGE IN VALUE OF INTEREST RATE SWAP 32,277.