2023-09-11T15:01:18-05:00 2023-04-30 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 40 WESTMINSTER STREET SUITE 600 PROVIDENCE RI 02903 990 2022-05-01 850829370 HERMITAGE MEMBERS CLUB INC HERM 8022754225 10 GATEHOUSE TRAIL WILMINGTON VT 05363 WILLIAM BENNEYAN EXECUTIVE DIRECTOR 8022754225 2023-09-11 1 WILLIAM BENNEYAN 999009999 1 KERRI RAWCLIFFE P01398485 4016216200 2023-09-11 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z WILLIAM BENNEYAN 10 GATEHOUSE TRAIL WILMINGTON VT 05363 13922962 0 X WWW.HERMITAGECLUB.COM X 2019 VT A PRIVATE SOCIAL CLUB PRIMARILY INVOLVED WITH SKIIING AND SNOWBOARDING DURING THE WINTER MONTHS FOR ITS MEMBERS, BUT OFFERING A RANGE OF OUTDOOR ACTIVITIES DURING THE REMAINING MONTHS. 10 10 340 73 779022 581294 150468 681510 12803958 11241507 81197 749540 -580085 -491598 12455538 12180959 0 0 0 0 2352080 1780159 0 0 0 4661146 6152536 7013226 7932695 5442312 4248264 17351315 21315373 2206797 2378591 15144518 18936782 HERMITAGE MEMBERS CLUB, INC., A VERMONT NON-PROFIT CORPORATION, IS ORGANIZED FOR THE PURPOSE OF OPERATING AS A PRIVATE SOCIAL CLUB FOR THE RECREATIONAL AND SOCIAL BENEFITS OF ITS MEMBERS. 0 0 SNOW SPORTS - TO PROVIDE MEMBERS WITH A MULTITUDE OF RECREATIONAL OUTDOOR ACTIVITIES ON OUR PRIVATE 1,400 ACRE RETREAT. FOOD AND BEVERAGE OPERATIONS - TO PROVIDE MEMBERS AND THEIR GUESTS WITH AN OPPORTUNITY FOR DINING AND SOCIALIZING. 0 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 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 44 0 1 340 1 1 1 0 0 0 0 3523809 206414 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 0 1 1 0 X TIM DARTER 8022754225 183 GATEHOUSE TRAIL WILMINGTON VT 05363 X BILL ALLEN DIRECTOR 5.00 X 0 0 0 ALISON CHALTAS DIRECTOR 5.00 X 0 0 0 LORI MCHUGH DIRECTOR 5.00 X 0 0 0 STUART KOVENSKY VICE PRESIDENT 5.00 X X 0 0 0 TIM DONAHUE TREASURER 5.00 X X 0 0 0 JEFF KOSLOWSKY BOARD EMERITUS 5.00 X 0 0 0 JEREMY PICINNI DIRECTOR 5.00 X 0 0 0 MEGAN HODGSON DIRECTOR 5.00 X 0 0 0 CHRIS CROFT PRESIDENT 15.00 X 0 0 0 TIM TREANOR SECRETARY 5.00 X 0 0 0 WILLIAM BENNEYAN EXECUTIVE DIRECTOR/GM 60.00 X 252789 0 0 AARON SHERRITT DIRECTOR OF MOUNTAIN OPERA 60.00 X 120269 0 0 JAMES RANKIN DIRECTOR 60.00 X 134831 0 0 507889 0 0 3 0 1 0 SPRINGFIELD PAVING 10 CAAJM RD CLAREMENT NH 03743 ROAD PAVING 262700 PLIMPTON EXCAVATING PO BOX 65 WARDSBORO VT 05355 CONSTRUCTION - FOUNDATION WORK 262348 R REED CONSTRUCTION PO BOX 1456 WEST DOVER VT 05356 CONSTRUCION - GENERAL BUILDING 226316 SOUTHWORK ELECTRIC PO BOX 20 WEST WARDSBORO VT 05360 CONSTRUCTION - ELECTRICAL 167672 CHARLIE WALDRON 25 STONEBROOK ROAD WILMINGTON VT 05363 EMPLOYEE HOUSING 148050 5 681510 681510 MEMBERSHIP DUES AND ASSESSMENTS 713990 5622500 5622500 INITIATION FEES 713990 3523809 3523809 SKI SCHOOL 713990 829900 826060 3840 MEMBER SERVICES & ACTIVITIES 713990 305342 305342 FACILITY OPERATIONS 713990 249241 249241 710715 639535 71180 11241507 152616 152616 600000 3076 596924 596924 -3076 600000 1166851 1738927 -572076 -523462 -48614 OTHER INCOME 713990 80478 80478 80478 12180959 10720427 779022 0 X 271827 1191315 317017 5785 26273 40750 7385 27212 1238018 56711 860718 263624 FULL TIME/YEAR ROUND 1324673 REPAIRS & MAINTENANCE 326062 INCOME TAX 195621 CONTRACT SERVICES 195037 1584667 7932695 8424385 9691109 909 3797 130697 427011 194469 217037 50365 22032 12797847 1963269 8550490 10834578 0 119809 17351315 21315373 75297 241675 516500 816250 1615000 1320666 2206797 2378591 X 15144518 18936782 15144518 18936782 17351315 21315373 X 4248264 -456000 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 727616 727616 3515114 282384 3232730 2940257 725232 2215025 5614860 955653 4659207 10834578 CBFD BOND 825000 CURRENT PORTION OF BONDS PAYABLE 395000 ST LEASE LIABILITY 12127 LT LEASE LIABILITY 88539 1320666 X 13919886 1738927 1738927 12180959 0 12180959 9671622 1738927 1738927 7932695 0 7932695 PART X, LINE 2: THE CLUB RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY WHEN THEY ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE CLUB HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 1,738,927. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 1,738,927. X X 0 0 0 WILLIAM BENNEYAN EXECUTIVE DIRECTOR/GM 252789 0 0 0 0 0 0 0 0 0 252789 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CLUB'S MEMBERSHIP IS COMPRISED OF THREE CLASSES: FOUNDER MEMBERS, JUNIOR MEMBERS, AND PLATINUM MEMBERS. MEMBERS WHO JOINED THE CLUB BY EXCHANGING ONE SHARE OF HERMITAGE CLUB MEMBER GROUP, INC. FOR THEIR MEMBERSHIP ARE DESIGNATED AS FOUNDER MEMBERS. ALL MEMBERS WHO JOIN AFTER APRIL 17, 2020 ARE DESIGNATED PLATINUM MEMBERS. THE JUNIOR MEMBERS WILL EVENTUALLY CONVERT TO PLATINUM MEMBERS BUT IS ESSENTIALLY FOR AGED OUT CHILDREN OF MEMBERS WHO WANT TO JOIN. PRO-RATED DUES AND INITIATION FEES WILL BE SPREAD OUT UNTIL THE MEMBER TURNS 32 AND THEN WILL CONVERT TO PLATINUM. FORM 990, PART VI, SECTION A, LINE 7A VOTING MEMBERS HOLD THE RIGHT TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS. EACH MEMBER IN GOOD STANDING SHALL HAVE ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN DECISIONS ARE VOTED ON BY THE MEMBERS OF THE CLUB SUCH AS CAPITAL EXPENDITURES, SALE OF ASSETS, AND ELECTION OF BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE DIRECTOR WILL REVIEW THE FORM 990 IN ITS ENTIRETY PRIOR TO ITS FILING AND ADVISE THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE CLUB HAS A CONFLICT OF INTEREST POLICY THAT IS COMPLETED BY THE BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION COMMITTEE REVIEWS THE SALARIES OF ALL FULL-TIME YEAR-ROUND EMPLOYEES INCLUDING THE CEO, EXECUTIVE DIRECTOR AND TOP MANAGEMENT POSITIONS. FORM 990, PART VI, SECTION C, LINE 19 THE CLUB'S 990, FINANCIAL STATEMENTS & OTHER DOCUMENTS ARE AVAILABLE FOR REVIEW BY MEMBERS UPON REQUEST. FORM 990, PART IX, LINE 24E MEALS AND ENTERTAINMENT 193,813. SUPPLIES 190,200. EVENTS 171,064. VALET 143,250. COMPUTER EXPENSE 109,490. EMPLOYEE RECOGNITION 101,200. RETAIL COGS 100,287. DUES & SUBSCRIPTIONS 77,064. EQUIPMENT FUEL 71,296. RENTALS 56,440. CONSULTING FEES 56,302. TRAINING/PROFESSIONAL DEVELOPMENT 49,726. HOUSING EXPENSE 31,486. MISCELLANEOUS 31,209. TRASH REMOVAL 29,644. CLEANING 28,612. UNIFORMS 25,182. PAYROLL FEES 21,067. OTHER SKI OPERATION EXPENSES 19,371. LICENSES & PERMITS 18,823. TELEPHONE 16,510. CHARITABLE DONATIONS 14,033. FITNESS CLASSES 7,005. TRAVEL 6,873. LANDSCAPING 5,492. POSTAGE & SHIPPING 4,927. MARKETING 2,846. BANK CHARGES 1,455. FORM 990, PART XI, LINE 9: ISSUED 181 SHARES OF COMMON STOCK -404,000. CONTRIBUTED CAPITAL -52,000. PART XII, LINE 2C EXPLANATION THE CLUB DID NOT CHANGE ITS OVERSIGHT PROCESS FROM THE PRIOR YEAR. FORM 990, PART VI, SECTION B, LINE 14 THE CLUB DOES NOT, AT THIS TIME, HAVE A FORMAL DOCUMENT RETENTION AND DESTRUCTION POLICY IN PLACE. THEY ARE IN THE PROCESS OF DEVELOPING SUCH POLICIES.