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      <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
      <NoDonorRestrictionNetAssetsGrp>
        <BOYAmt>1321122</BOYAmt>
        <EOYAmt>1366913</EOYAmt>
      </NoDonorRestrictionNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>1321122</BOYAmt>
        <EOYAmt>1366913</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>2818298</BOYAmt>
        <EOYAmt>2828875</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <ReconcilationRevenueExpnssAmt>45791</ReconcilationRevenueExpnssAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>true</AccountantCompileOrReviewInd>
      <AcctCompileOrReviewBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </AcctCompileOrReviewBasisGrp>
      <FSAuditedInd>false</FSAuditedInd>
      <AuditCommitteeInd>true</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>false</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleD documentId="RetDoc3">
      <LandGrp>
        <OtherCostOrOtherBasisAmt>532276</OtherCostOrOtherBasisAmt>
        <BookValueAmt>532276</BookValueAmt>
      </LandGrp>
      <BuildingsGrp>
        <OtherCostOrOtherBasisAmt>2929186</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>1865274</DepreciationAmt>
        <BookValueAmt>1063912</BookValueAmt>
      </BuildingsGrp>
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>1260520</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>1069276</DepreciationAmt>
        <BookValueAmt>191244</BookValueAmt>
      </EquipmentGrp>
      <OtherLandBuildingsGrp>
        <OtherCostOrOtherBasisAmt>1528282</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>1330053</DepreciationAmt>
        <BookValueAmt>198229</BookValueAmt>
      </OtherLandBuildingsGrp>
      <TotalBookValueLandBuildingsAmt>1985661</TotalBookValueLandBuildingsAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>MEMBERSHIP REDEMPTION PAYABLE</Desc>
        <Amt>901904</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>NOTES PAYABLE - FF&amp;M BANK</Desc>
        <Amt>420530</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>1322434</TotalLiabilityAmt>
    </IRS990ScheduleD>
    <IRS990ScheduleO documentId="RetDoc4">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 7A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE PRESIDENT APPOINTS A NOMINATIONS COMMETTEE ON AN ANNUAL BASIS. THE COMMITTEE IS RESPONSIBLE FOR FORMULATING A LIST OF NOMINEES FOR MEMBERSHIP ON THE BOARD OF DIRECTORS. THE NOMINATIONS COMMITTEE IS CONPRISED OF AT LEAST FIVE REGULAR CLASS A MEMBERS, ONLY ONE OF WHOM MAY BE AN OFFICER OR DIRECTOR OF THE CLUB. THE LIST OF NOMINEES ARE VOTED ON AT THE ANNUAL MEETING.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 7B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ANNUAL MEETING OF THE GRAYMERE CLUB IS HELD ON THE THIRD MONDAY OF EACH JANUARY. AT THIS MEETING, THE CLASS A MEMBERS SHALL ELECT DIRECTORS TO SERVE FOR THE ENSUING THREE YEARS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FORM 990 IS PROVIDED TO THE EXECUTIVE COMMITTEE FOR REVIEW PRIOR TO FILING. THE PRESIDENT OF THE BOARD OF DIRECTORS REVIEWS AND SIGNS THE RETURN.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>NO DOCUMENTS AVAILABLE TO THE PUBLIC</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART IX, LINE 11G</FormAndLineReferenceDesc>
        <ExplanationTxt>BAD DEBT EXPENSE 0 2,462 0 BANK FEES 0 8,096 0 CABLE EXPENSE 0 3,284 0 COMPLIMENTARY 3,438 0 0 DUES &amp; SUBSCRIPTIONS 0 435 0 EDUCATION EXPENSE 2,423 4,499 0 EMPLOYEE MEALS 11,293 0 0 FOOD &amp; BAR COSTS 249,600 0 0 GAS &amp; OIL 19,131 0 0 INSURANCE 0 44,422 0 INTEREST EXPENSE 1,990 18,596 0 MISCELLANEOUS 4,913 828 0 OFFICE SUPPLIES 0 7,081 0 PEST CONTROL 800 0 0 POSTAGE 0 1,954 0 PRINTING 0 318 0 PROMOTION EXPENSE 0 2,630 0 REPAIRS &amp; RENTAL 218,777 0 0 SECURITY EXPENSE 0 2,104 0 SERVICE MAINTENANCE CONTRACT 0 36,494 0 SOILAGE 6,907 0 0 SPECIAL ACTIVITIES 23,813 0 0 SUPPLIES &amp; MERCHANDISE 110,040 0 0 TAXES &amp; LICENSES 17,635 42,585 0 UNIFORM &amp; LAUNDRY 16,279 0 0 UTILITIES &amp; TELEPHONE 83,310 4,985 0 TOTAL 770,349 180,773 0</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>