2026-03-19T14:34:22-05:00 2025-10-31 390859910 BAKER TILLY ADVISORY GROUP LP 66 HUDSON BLVD E SUITE 2200 NEW YORK NY 10001 990 2024-11-01 060503510 THE RACE BROOK COUNTRY CLUB INC RACE 2033899521 246 DERBY AVENUE ORANGE CT 06477 CHRISTOPHER CESARE PRESIDENT 2033899521 2026-03-19 1 1 MARY-EVELYN ANTONETTI P00431862 2126976900 2026-03-19 2024 2025-03-06 01:10:19Z CHRISTOPHER A MORAN 246 DERBY AVENUE ORANGE CT 06477 5953304 0 X WWW.RACEBROOK.ORG X 1912 CT THE CLUB IS ORGANIZED TO OPERATE AS A PRIVATE SOCIAL CLUB FOR THE PROMOTION OF OUTDOOR SPORTS. 9 9 153 9 646676 0 0 0 4088549 3905209 803 67795 1038047 1171479 5127399 5144483 0 0 0 0 2746511 3029554 0 0 0 2292894 2145661 5039405 5175215 87994 -30732 21348889 21031280 18938364 18651702 2410525 2379578 THE CLUB IS ORGANIZED TO OPERATE AS A PRIVATE SOCIAL CLUB FOR THE PROMOTION OF OUTDOOR SPORTS AND THE DEVELOPMENT OF SOCIAL INTERACTION AMONG THE MEMBERS AND FOR ANY OTHER PURPOSE NOT PROHIBITED BY THE STATUTES OF THE STATE OF CONNECTICUT. 0 0 PRIVATE SOCIAL CLUB FOR THE PROMOTION OF OUTDOOR SPORTS AND THE DEVELOPMENT OF SOCIAL INTERACTION AMONG THE MEMBERS AND FOR ANY OTHER PURPOSE NOT PROHIBITED BY THE STATUTES OF THE STATE OF CONNECTICUT. 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 4 0 1 153 1 1 1 0 0 0 0 104500 848488 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 0 0 1 1 0 CT X CHRISTOPHER CESARE 2033899521 246 DERBY AVENUE ORANGE CT 06477 STEVEN PEPE DIRECTOR 2.00 X 0 0 0 CHRISTOPHER A MORAN PRESIDENT 2.00 X X 0 0 0 ALICIA PRETE DIRECTOR (UNTIL 1/29/25) 2.00 X 0 0 0 DAVID BEEMAN DIRECTOR (UNTIL 1/30/25) 2.00 X 0 0 0 DOUGLAS HELAL DIRECTOR (UNTIL 1/29/25) 2.00 X 0 0 0 CHRISTOPHER CESARE TREASURER 2.00 X X 0 0 0 MICHAEL LOSTOCCO VICE PRESIDENT 2.00 X X 0 0 0 BRUCE CIRILLO SECRETARY 2.00 X X 0 0 0 RICHARD COURVILLE DIRECTOR 2.00 X 0 0 0 DAN MOFFETT DIRECTOR (AS OF 1/30/25) 2.00 X 0 0 0 LOUIS FANTARELLA DIRECTOR (AS OF 1/30/25) 2.00 X 0 0 0 JASPUR LIBERMAN DIRECTOR (AS OF 1/30/25) 2.00 X 0 0 0 JOYCE RAICIK GENERAL MANAGER 40.00 X 146583 0 6466 JOHN GALLAGHER SUPERINTENDENT 40.00 X 170933 0 0 JENNIFER BIHARY EVENT MANAGER 40.00 X 131567 0 11487 JACOB ROTHERHAM HEAD GOLF PRO 40.00 X 117005 0 1120 JON FLANAGAN FOOD & BEVERAGE DIRECTOR 40.00 X 109421 0 10517 WILLIAM HERNANDEZ HEAD CHEF 40.00 X 102019 0 10517 777528 0 40107 6 0 1 0 COURVILLE SERVICES LLC 163 BARN HILL RD MONROE CT 06468 VARIOUS LANDSCAPING PROJECTS 256975 1 MEMBERSHIP FEES 713910 2958480 2958480 GOLF FEES 713910 842229 666859 175370 INITIATION FEES 713910 104500 104500 3905209 64847 64847 45000 6143 38857 38857 38857 2948 0 2948 2948 2948 1935300 802678 1132622 765020 367602 5144483 4494859 646676 2948 321394 182921 2090875 5040 120314 309010 9270 18079 217684 511883 13549 54290 403057 137523 GROUNDS MAINTENANCE 408320 TOWN LEASE EXPENSE 248586 GOLF OPERATIONS 116588 BAD DEBT 6483 349 5175215 2038125 197700 0 1726559 468709 429976 62871 62794 131167 179342 3660447 2749601 828803 910846 17819214 17524063 21348889 21031280 427889 465762 0 246719 141009 137146 18369466 17802075 18938364 18651702 X 2410525 2379578 2410525 2379578 21348889 21031280 -30732 -215 0 X X 1 X 0 1 0 842634 164244 678390 2817813 2585357 232456 910846 RACEBROOK REALTY MINORITY SHAREHOLDER FUNDS 59002 OPERATING RIGHT OF USE ASSETS 16754460 FINANCING RIGHT OF USE ASSETS 710601 17524063 DEPOSITS 107646 RACEBROOK REALTY MINORITY SHAREHOLDERS PAYABLE 59002 FINANCING RIGHT OF USE LIABILITIES 608933 OPERATING RIGHT OF USE LIABILITIES 17026494 17802075 PART X, LINE 2 THE CLUB IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE. HOWEVER, THE CLUB IS SUBJECT TO A TAX ON UNRELATED BUSINESS INCOME UNDER SECTION 511 OF THE CODE. THE CLUB'S UNRELATED BUSINESS INCOME CONSISTS OF NON-MEMBER USE OF THE CLUB'S FACILITIES, FOOD AND BEVERAGE, AND INVESTMENT INCOME. THE CLUB FILES A FEDERAL INFORMATION AND INCOME TAX RETURN AND PAYS STATE FRANCHISE TAXES. THE CLUB'S FEDERAL AND STATE TAXES WERE NOT MATERIAL AT OCTOBER 31, 2025 AND 2024. THE CLUB ACCOUNTS FOR UNCERTAIN INCOME TAXES IN ACCORDANCE WITH THE INCOME TAX TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD ACCOUNTING STANDARDS CONDIFICATION. THE CLUB FILES FEDERAL AND STATE OF CONNECTICUT INCOME TAX RETURNS, WHICH REPRESENTS THE MAJOR TAX JURISDICTIONS. FISCAL YEARS 2021 THROUGH 2024 REMAIN OPEN FOR FEDERAL AND STATE AUDITS UNDER VARIOUS STATUTES OF LIMITATION. THE CLUB DOES NOT BELIEVE THERE ARE ANY UNCERTAIN TAX POSITIONS AT OCTOBER 31, 2025 AND 2024. PART IX OTHER ASSETS; PART X OTHER LIABILITIES EFFECTIVE NOVEMBER 1, 2022, THE COMPANY ADOPTED FASB ACCOUNTING STANDARDS CODIFICATION (ASC) 842, LEASES (ASC 842). THE COMPANY DETERMINES IF AN ARRANGEMENT CONTAINS A LEASE AT INCEPTION BASED ON WHETHER THE COMPANY HAS THE RIGHT TO CONTROL THE ASSET DURING THE CONTRACT PERIOD AND OTHER FACTS AND CIRCUMSTANCES. THE COMPANY ELECTED THE PACKAGE OF PRACTICAL EXPEDIENTS PERMITTED UNDER THE TRANSITION GUIDANCE WITHIN THE NEW STANDARD, WHICH AMONG OTHER THINGS, ALLOWED IT TO CARRY FORWARD THE HISTORICAL LEASE CLASSIFICATION. THE COMPANY ELECTED THE SHORT-TERM LEASE RECOGNITION EXEMPTION FOR ALL LEASES THAT QUALIFY. CONSEQUENTLY, FOR THOSE LEASES THAT QUALIFY, THE COMPANY WILL NOT RECOGNIZE RIGHT-OF-USE ASSETS OR LEASE LIABILITIES ON THE BALANCE SHEETS. THE COMPANY GENERALLY DOES NOT HAVE ACCESS TO THE RATE IMPLICIT IN THE LEASE, AND THEREFORE THE COMPANY UTILIZES A RISK-FREE RATE AS THE DISCOUNT RATE. THE ADOPTION OF ASC 842 RESULTED IN THE RECOGNITION OF OPERATING RIGHT-TO-USE ASSETS OF $17,697,996 AND OPERATING LEASE LIABILITIES OF $17,697,996 AS OF NOVEMBER 1, 2022. RESULTS FOR PERIODS BEGINNING PRIOR TO NOVEMBER 1, 2022 CONTINUE TO BE REPORTED IN ACCORDANCE WITH THE COMPANY'S HISTORICAL ACCOUNTING TREATMENT. AT OCTOBER 31, 2025 OPERATING RIGHT OF USE ASSETS WERE $16,754,460; RIGHT OF USE LIABILITIES WERE $17,026,494. X X 0 0 0 JOHN GALLAGHER SUPERINTENDENT 165933 0 5000 0 0 0 0 0 0 0 170933 0 0 0 JOYCE RAICIK GENERAL MANAGER 139083 0 7500 0 0 0 0 0 6466 0 153049 0 0 0 RICHARD COURVILLE DIRECTOR: PAYMENT TO COURVILLE SERVICES LLC A 35% OR MORE CONTROLLED ENTITY 157990 PAYMENT TO COURVILLE SERVICES, LLC A 35% OR MORE CONTROLLED ENTITY 0 PATRICK GALLAGHER SON OF KEY EMPLOYEE 24931 COMPENSATION 0 FORM 990, PART VI, SECTION A, LINE 6 RACE BROOK COUNTRY CLUB HAS PRIVATE MEMBERS IN FAMILY, SINGLE, JUNIOR, CORPORATE AND SOCIAL CATEGORIES. FORM 990, PART VI, SECTION A, LINE 7A RACE BROOK COUNTRY CLUB HAS PRIVATE MEMBERS WHO VOTE ANNUALLY ON THE BOARD OF GOVERNORS. FORM 990, PART VI, SECTION A, LINE 7B ANY BORROWINGS IN EXCESS OF $500,000 NEED TO BE APPROVED BY THE MEMBERS. ANY AMENDMENTS TO THE BYLAWS NEEDS TO BE APPROVED BY THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B NO COMMITTEE HAS THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. COMMITTEES PRESENT RECOMMENDATIONS TO THE GOVERNING BODY AT THEIR MEETINGS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PRESENTED TO THE FINANCE COMMITTEE FOR REVIEW AND SIGNATURE. A COMPLETE COPY OF THE RETURN IS GIVEN TO THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS, KEY EMPLOYEES AND BOARD MEMBERS ARE REQUIRED TO SIGN A DOCUMENT ANNUALLY LISTING ANY POTENTIAL CONFLICTS OR STATING THAT THEY DO NOT HAVE ANY POTENTIAL CONFLICTS OF INTEREST. THESE STATEMENTS ARE REVIEWED BY THE BOARD AT THE ANNUAL MEETING. IF THERE IS A POTENTIAL CONFLICT, THE INDIVIDUAL WILL RECUSE THEMSELVES FROM DISCUSSIONS ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF GOVERNORS REVIEWS AND APPROVES COMPENSATION OF THE GENERAL MANAGER. THE FINANCE COMMITTEE REVIEWS AND APPROVES COMPENSATION OF ALL KEY EMPLOYEES. THIS PROCESS IS DONE ANNUALLY. FORM 990, PART VI, SECTION C, LINE 18 INDIVIDUALS MUST COME INTO RACE BROOK'S OFFICE AND PERSONALLY REQUEST DOCUMENTS FORM 990, PART VI, SECTION C, LINE 19 INDIVIDUALS MUST COME INTO RACE BROOK'S OFFICE AND PERSONALLY REQUEST DOCUMENTS FORM 990 PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.