Tahoe Donner News May 2023

THE BUZZ 10

TAHOE DONNER N

E

W

S

ANNUAL REPORT

24

BUSINESS DIRECTORY 18 KEEP THE COMMUNITY CLEAN AND GREEN! 08

M A Y

2 0 2 3

INSIDE THE REPORT:

THE BUZZ:

02

03

ASSOCIATION UPDATES

EVENTS, DINING + UPDATES

Message From the Quick Calendar General Manager

04

24

Roadmap to the Election

Help Keep the Community Clean and Green!

16

12

Tahoe Donner Giving Fund: Reconnecting With Jairo

2022 ANNUAL REPORT

08

16

Club Updates

14

Dining Hours + Specials

Covenants Reminders

Graphical overview of Tahoe Donner’s 2022 audited results and accomplishments

18

Business Directory

FEATURES

20

10

Briefs

22

Board Meeting Recap

THE BUZZ

Updates, Programs and Events

06

2023 DEFENSIBLE SPACE INSPECTIONS

TAHOE DONNER NEWS |

1

VOLUME 24 | NO. 05

MAY 2023

EDITORIAL AND PRODUCTION TEAM Lindsay Hogan Ali Dickson Cynthia Cendreda

Drew Deurlington Kylie Papson Camy Bretin

SENIOR MANAGEMENT

David Mickaelian | General Manager dmickaelian@tahoedonner.com Miah Cottrell | Director of Information Technology mcottrell@tahoedonner.com John Groom | Director of Land Management + Open Space jgroom@tahoedonner.com Lindsay Hogan | Director of Communications + Member Relations lhogan@tahoedonner.com

MESSAGE FROM THE

GENERAL MANAGER

Dear members,

DOWNHILL SKI LODGE UPDATE

Miguel Sloane | Director of Operations msloane@tahoedonner.com

As we reflect on a winter season with over 600 inches of snow that will go down in Tahoe Donner history, we are excited to shift our focus from skiing and welcome the summer season with open arms. We are looking forward to cruising the trail system, swimming at Donner Lake, exploring new menus at The Lodge and much more.

Steve Turner | Director of Food + Beverage sturner@tahoedonner.com

SUMMER AMENITY OPENINGS

Staff and I continue looking forward to progress in the Downhill Ski Lodge Replacement Project. After providing the environmental studies requested by the Town of Truckee, at the time of press, the association is still waiting on an environmental review from the Town’s consultant that will determine the next steps. For more information on the ski lodge replacement, visit tahoedonner.com/ski-lodge-replacement.

Todd Martyn-Jones | Director of Finance, Accounting + Business Support tmartynjones@tahoedonner.com Jon Mitchell | Director of Capital Projects + Facilities jmitchell@tahoedonner.com Annie Rosenfeld | Director of Administrative Services arosenfeld@tahoedonner.com

BOARD OF DIRECTORS President | Don Koenes dkoenes@tahoedonner.com

Vice President | Benjamin Levine blevine@tahoedonner.com Treasurer | Steve Mahoney smahoney@tahoedonner.com Secretary | Courtney Murrell cmurrell@tahoedonner.com Director | Jim Roth jroth@tahoedonner.com

POSTMASTER: Periodical postage paid at

Truckee, California and additional mailing offices.

Send address changes to Tahoe Donner News, 11509 Northwoods Blvd., Truckee, CA 96161; (530) 587-9400, Fax (530) 579-3224

EMAIL: comdep@tahoedonner.com ADVERTISING SALES: CC Media + Publishing is the exclusive advertising representative: (775) 327-4200 | laura@cc.media PUBLISHING INFORMATION TAHOE DONNER ASSOCIATION HOLDS THE EXCLUSIVE SERVICE MARK RIGHT TO “TAHOE DONNER.” ANY UNAUTHORIZED USE OF SUCH WILL BE REGARDED AS AN INFRINGEMENT OF THAT SERVICE MARK RIGHT AND IS PROHIBITED. THE INCLUSION OF ADVERTISING IN THIS PUBLICATION DOES NOT CONSTITUTE AN ENDORSEMENT OR RECOMMENDATION BY TAHOE DONNER ASSOCIATION OR ITS BOARD OF DIRECTORS OF THE PRODUCTS, SERVICES OR VIEWS CONTAINED THEREIN. TAHOE DONNER NEWS (ISSN 1550-6061) IS THE OFFICIAL MONTHLY PUBLICATION OF TAHOE DONNER ASSOCIATION, WHICH IS LOCATED AT 11509 NORTHWOODS BLVD., TRUCKEE, CA 96161.

EACH MEMBERSHIP PARCEL RECEIVES ONE SUBSCRIPTION TO A DOMESTIC ADDRESS. COST TO PRODUCE AND DISTRIBUTE THIS PUBLICATION IS OFFSET BY ADVERTISING REVENUES. PERIODICALS POSTAGE PAID AT TRUCKEE, CA, AND ADDITIONAL MAILING OFFICES. MEMBER LETTERS TO TAHOE DONNER ARE PUBLISHED IN THE MEMBER PORTAL; DETAILS AVAILABLE AT TAHOEDONNER.COM/MEMBER-LETTERS.

Removing snow from the summer amenities is certainly a challenge we face right now. At the time of press, there are still many feet of snow on the golf course, tennis courts, marina and more, so all opening dates are depending on weather and conditions. Staff is working carefully to remove snow without damaging surfaces, and we thank you for your understanding. We also send a special thank you to our maintenance staff, golf crews and other operations staff for their hard work in getting us ready for summer!

Learn more about summer amenities on page 10.

2023 BOARD ELECTION BALLOTS I’d like to remind everyone that the Tahoe Donner Board of Directors Election is coming up. Voting on your board of directors is important, as it provides you with the opportunity to have a say in who makes decisions that will impact your community. All properties will be mailed a ballot on May 22, and I urge you to work with other property owners to ensure that you exercise your right to vote. Election day is on June 25 at the Northwoods Clubhouse, which will include a member barbecue, community expo, activities and more. Learn more on page 4.

2023/24 RECREATION FEE Lastly, I want to remind you that the Recreation Fee year began on May 1 and will run through April 30, 2024. Paying this one-time optional fee will grant you access to all private amenities for free this summer and beyond, including the Northwoods Pool, Trout Creek Recreation Center and Tennis Center. This year, we also introduced a two-person option for $295 in addition to the standard option for $460, which covers all four members on your property and any member additionals you add (up to four more) for $165 per person. To learn more about the Rec Fee, flip to page 20.

We are excited to kick off the season with you and hope to see you out and about this summer.

Be well, DAVID MICKAELIAN | GENERAL MANAGER

FEATURED EVENTS

BRING BACK THE MAC

Each week, vote on a creative new take on classic mac and cheese; the winner will be added to the summer dinner menu!

WHEN: Throughout May WHERE: The Lodge Restaurant & Pub LEARN MORE: Page 14

CINCO DE MAYO PARTY

Celebrate this festive holiday with a traditional Mexican dinner, $7 margaritas and $4 beer specials.

WHEN: May 5 WHERE: The Lodge Restaurant & Pub LEARN MORE: Page 14

LIFEGUARD CERTIFICATION

Students 15 and older learn how to provide safety and protection to aquatic patrons and how to respond to water-related emergencies.

WHEN: May 24-26 and June 3-4 LEARN MORE: Page 10

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MAY

EVENTS + MEETINGS MONDAYS

Monday Night Trivia at Pizza on the Hill

WEDNESDAYS No Corkage Fee at The Lodge

Sip. Sa vor. Smile.

THURSDAYS

Karate Club Class at Trout Creek Rec Center

SATURDAYS

Karate Club Class at Trout Creek Rec Center

MAY 2

Public Art Commission Meeting at Town Hall

MAY 3

Quilt Club Meeting at The Lodge

MAY 5

Cinco de Mayo Party at The Lodge

MAY 6

Spring Sports Swap at Truckee Rec and Park

MAY 12

Free Tasting at The Lodge

MAY 16

Good Morning Truckee at Town Hall

MAY 17

Quilt Club Meeting at The Lodge

MAY 17

Last day to vote for Sierra Sun Best Of finalists

MAY 24-26

Lifeguard Training and Certification Class

MAY 26

Regular Board Meeting at Northwoods Clubhouse

MAY 27-28

Made in Tahoe at the Village at Palisades Tahoe

MAY 28

Home and Building Show at Truckee High School

CHARLES SCHWAB • TRUCKEE -TAHOE LUMBER • GROCERY OUTLET PLUMAS BANK • MOBO LAW • MOONSHINE INK MOUNTAIN HOME CENTER

MAY 28

Women’s Golf Club Welcome Social

TICKETS: $50 ADVANCE • $55 AFTER 5/20 • $60 DOOR

MAY 28

Men’s Golf Club Welcome Event

JUNE 1

Edi-Bōl at Alder Creek Cafe

4 8TH S OR OPTIM IST WIN E +

RESTAURANT FAIRE FUNDRAISER SAT. JUNE 10 | 5:00 TO 7:30 P.M. COYOTE MOON GOLF COURSE | 10685 NORTHWOODS BLVD. | TRUCKEE

Wine + Beer Tasting | Music by TreeTones Culinary Delights Prepared by Area Restaurants

SILENT AUCTION AND RAFFLE THANKS TO OUR SPONSORS: SHIRLEY PHELAN ART

ON-LINE AT: SITDWINE.GIVESMART.COM PICKUP AT WILL CALL AT EVENT

In compliance with governmental regulations, ID’s with date of birth will be requested at the door.

ACAC: Alder Creek Adventure Center All events are weather permitting. See full event list at tahoedonner.com/events.

TAHOE DONNER NEWS |

3

THE REPORT

BALLOT MAILING VIA USPS

There are two positions open for the 2023 Board of Directors Election. Being involved in your homeowner’s association election means you have a proactive role in who makes up your board of directors, and thus the decisions made on your behalf by the board.

Remember, your vote is your choice!

All ballots are pre-addressed and are delivered directly to the third-party accountancy firm in Reno, Nevada, via the United States Postal Service.

Be sure to sign the return envelope before mailing your ballot. To learn more, explore the frequently asked questions at tahoedonner.com/boardelections.

MAY 2 Candidate webpages released. Learn about each candidate by viewing their candidate statement, video and more at tahoedonner.com/boardelections.

MAY 19

SUBMIT TOPICS FOR CANDIDATES TO ADDRESS AT CANDIDATES NIGHT

If you could sit down with the candidates, what topics would you like them to address? Submit discussion topics for Candidates Night and future articles to electionscommittee@tahoedonner.com by May 19.

MAY 22 Election ballots are mailed to all eligible members – one ballot per property.

Please work with your co-owners to cast your vote. Ballots are sent to the same address that the Annual Assessment goes to. To find FAQs on receiving, completing and returning ballots, visit tahoedonner.com/boardelections.

MAY 30

CANDIDATES NIGHT VIRTUAL FORUM 6-9PM | ONLINE MEETING

Join the online forum moderated by the Inspector of Elections or their designee.

Visit tahoedonner.com/boardelections for meeting and login information.

JUNE 23

ELECTION BALLOT MEETING + REGULAR BOARD MEETING 9AM-5PM | NORTHWOODS CLUBHOUSE

On-site voting and replacement ballots are available at Northwoods Clubhouse until 5PM. The Inspector of Elections will oversee the ballot counting process. The deadline for receipt of ballots mailed or personally delivered to the accountancy firm is 5PM.

JUNE 25

ELECTION DAY + ANNUAL MEETING OF MEMBERS 10AM-12PM | NORTHWOODS CLUBHOUSE

Personally delivered ballots may be accepted until 11:30AM. Election results are announced prior to the end of the meeting, providing a quorum of the voting power of the association is reached (25%). If not, the meeting is adjourned until June 26.

CAMPAIGN SPENDING Campaign Guidelines encourage candidates to conduct an economical campaign that employs cost-effective campaign outreach techniques. To support this objective, the association provides individual candidate webpages, Tahoe Donner News candidate informational articles, email blasts and a virtual candidate event.

OPT OUT OF EMAIL SHARING

California Senate Bill 323 allows any Tahoe Donner member to request the official Tahoe Donner membership list, including email addresses. If you would like to opt out of sharing your contact information with members, please visit tahoedonner.com/sb323.

Please note: Some members may have received your email address prior to when you opted out. You can remove yourself from those members’ lists by clicking the unsubscribe link contained in their emails.

THOSE OPTING OUT WILL STILL RECEIVE

REGULAR INFORMATIONAL CONTACT FROM TAHOE DONNER ASSOCIATION.

UNCONTESTED ELECTION / ACCLAMATION If, at the close of nominations, the number of qualified nominees is equal to or less than the number of directors to be elected, pursuant to the association bylaws, the association should consult with counsel as to the ability to declare the nominated candidates elected without the need for mail-in voting.

FOR ADDITIONAL ELECTION INFO, VISIT TAHOEDONNER.COM/BOARDELECTIONS

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5

THE REPORT

2023 DEFENSIBLE SPACE INSPECTIONS YOUR PROPERTY’S FRONTLINE DEFENSE AGAINST WILDFIRE

Creating and maintaining defensible space around your home can dramatically increase your home’s chance of surviving a wildfire. It will also improve the safety of firefighters defending your property.

2023 DEFENSIBLE SPACE ZONE

During the fall of 2022, defensible space inspections took place within portions of Unit 6 (lots 1-411), Unit 7 (lots 263-356), and all of Unit 10 (lots 1-488). Properties found to be noncompliant have been provided with the results of these inspections. Compliance dates will begin in July 2023.

HOW YOU WILL BE NOTIFIED OF INSPECTIONS

• Members whose properties are subject to this year’s defensible space inspection were sent a reminder email during winter 2023 with a list of items to be completed this summer.

Members will also receive an official Notice of Non-Compliance later this spring and a detailed report of required maintenance items. Due dates will be provided at that time as staff assesses the timeline while the snow melts.

• Members can request a reinspection online at tahoedonner.com/defensible-space.

Watch your email inbox and junk folder for reminder emails.

If you need to update your email address, please visit tahoedonner.com/member-portal.

RULES + GUIDELINES

Tahoe Donner residents should familiarize themselves with the complete rules and guidelines for defensible space inspection standards for both developed and undeveloped lots. Detailed guidelines can be found at tahoedonner.com/defensible-space.

COVENANTS + RESTRICTIONS

Covenants and restrictions require that each lot be maintained to prevent fire hazards. Failure to comply may result in a hearing and

possible fine from the Covenants Committee. Covenants rules can be found under “Homeowner Guidelines” at tahoedonner.com/members.

HOME HARDENING

In addition to defensible space, home hardening has been found effective in reducing ember ignitions on and around structures.

The State Board of Forestry and the Office of the State Fire Marshal have laid out new guidelines for home hardening that should be followed by homeowners. Forestry staff is available to provide recommendations based on these guidelines. To learn more about ember-resistant zones and home hardening, visit readyforwildfire.org.

FIREASIDE RESIDENT REPORTS

The Forestry Department has adopted new inspection software from FireAside that aids inspectors in evaluating properties and providing homeowners a detailed report of their findings, including a parcel-specific list of requirements, location and photos of each issue and recommendations for individuals wanting to take additional steps. FireAside’s resident reports provide a checklist of compliance to-dos and reminders so residents can prioritize and resolve each issue. Learn more at tahoedonner.com/forestry.

CHIPPING PROGRAM

The chipping program will resume from June 1 through Oct. 1, 2023.

New this year, residents must make a request to have their piles chipped. This will be more efficient and help remove piles in a more timely way. Learn more at tahoedonner.com/chipping-program.

INSPECTION AUTHORITY

Tahoe Donner Forestry Department inspectors will walk through your property in order to complete defensible space inspections. Authority for these inspections comes from the State of California Public Resources Code 4291, Truckee Fire Protection District Ordinance 94-1 and Tahoe Donner Association C&Rs Article VIII, Section 1 (a) iii and iv.

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TAHOE DONNER NEWS |

7

FEATURE

HELP KEEP THE COMMUNITY

Clean and Green!

RECYCLING + GREEN WASTE IN TAHOE DONNER

By CYNTHIA CENDREDA

WASTE + RECYCLING

Storage

Household trash and recycling must be placed in an animal-resistant garbage can enclosure or stored in a secured garage or shed and brought to the curb in cans on Tuesday mornings for pickup.

RECYCLING

Bags or Carts

BLUE BAG RECYCLING Weekly curbside pickup continues year-round.

Place blue bags next to your garbage can to prevent overage costs.

BLUE RECYCLING ROLLING CARTS Tahoe Donner homeowners can opt to receive a blue recycling rolling cart for curbside pickup at keeptruckeegreen.org. Blue recycling cart service is every other Tuesday in Tahoe Donner (alternating with green cart service). Place blue carts three feet away from garbage cans and other objects by 6AM with the handle facing away from the street and lids completely closed on their scheduled pickup day.

YARD WASTE

Carts, Dumpsters + Hauling GREEN WASTE DUMPSTER AT YOUR HOME Six-yard green waste dumpsters are available by reservation for one-week rentals at keeptruckeegreen.org.

GREEN WASTE ROLLING CARTS Opt in to receive up to three 96-gallon green yard waste carts. Green cart service is every other Tuesday from the beginning of May through the end of November each year.

Place yard trimmings (pine cones, pine needles, branches, grass clippings, etc.) directly into your yard waste cart – no bags or food waste. Place green carts three feet away from garbage cans and other objects by 6AM with the handle facing away from the street and lids completely closed on their scheduled pickup day.

SELF HAUL Tahoe Donner homeowners can drop off six yards of yard waste from May through October at Eastern Regional Landfill (ERL) for free. Be sure to bring proof of residency with an ID and utility bill to receive a punch card.

Punch cards are transferable so they can be given to a contractor or friendly neighbor to use on your behalf.

For additional information, visit the Keep Truckee Green website at keeptruckeegreen.org or the Tahoe Truckee Sierra Disposal website at waste101.com.

A vital part of enjoying this unique and beautiful mountain community is properly disposing of

your trash, recycling and yard/green waste. With

scavenging critters, greater-than-normal snow loads

Proudly Serving Truckee & Tahoe-Donner For Over 25 Years

compounding waste removal efforts, and wildfire

concerns in the summer and fall, it’s essential that property owners take measures to ensure that all

household yard waste and recycling are appropriately

and securely stored until the scheduled time of pickup.

Below are guidelines for waste disposal and recycling.

OTHER

Services ADDITIONAL PICKUPS

TWO SCHEDULED BULKY-ITEM PICKUPS PER YEAR

Full Service Painting Contractor dedenpainting.com

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These pickups may be used for large items, including mattresses, couches or refrigerators.

They may not be used to remove yard waste.

Pickups are available on Tuesdays only. Visit waste101.com to schedule your pickup.

CA Lic #1075237

Contact Tahoe Truckee Sierra Disposal to schedule any additional pickups. Visit waste101.com to learn more.

EXTRA CANS Fee of $4.87 per can. These may be used for green waste pickup.

PICKUP OF ROLLING CARTS + STORAGE Fee will be charged.

ROLLBACK SERVICE Distance-tiered fee charge.

To learn more about green waste and recycling programs in Tahoe Donner, visit tahoedonner.com/waste-changes.

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TAHOE DONNER NEWS |

9

THE

BUZZ EVENTS. DINING. UPDATES. TENNIS CENTER

GOLF COURSE

OPENING

The Tennis Center is scheduled to open in May, conditions permitting.

See website for details.

tahoedonner.com/tennis

HOURS OF OPERATION GYM: Daily | 6AM-9PM

LAP POOL: Daily | 6AM-7:45PM Rec swim 3-7PM on Monday-Friday + 11AM-7PM Saturday-Sunday SPAS, STEAM ROOM + SAUNA: Daily | 6AM-8:45PM RECREATION POOL: Daily | 6AM-7PM Rec Pool is scheduled to open in late May, conditions permitting.

No lifeguards on duty; swim at own risk.

FITNESS CLASSES

Jump into specialized classes to build or improve your strength, flexibility and cardio fitness. Please see website for fitness class schedule at tahoedonner.com/fitness.

RULES REGARDING MINORS

JUNIOR TENNIS PROGRAMS

Junior Tennis Programs are coming to Tahoe Donner every Monday-Friday from June 19 to August 18 this season.

Signup begins May 9 for members and May 16 for guests. Space is limited; call (530) 587-9474 for information or register on ShopTD.

TROUT CREEK REC CENTER

SEASON PASSES + PACKS ON SALE NOW

Join the club and gear up for a great summer of golf at Tahoe Donner!

Season passes and play packs are on sale now on ShopTD. Visit the web for info on Pro Shop hours, pricing, passes, reservations and more at tahoedonner.com/golf.

All members and guests under the age of 14 must be under the direct supervision of a legal guardian at all times. Members ages 14-17 with a gym sticker may use the gym without direct supervision. Members ages 9 and under with a valid swim sticker do not need to be accompanied in the water when lifeguards are on duty (summer months) but must always remain under direct supervision of a legal guardian.

Please visit tahoedonner.com/fitness to learn more.

tahoedonner.com/golf

BEACH CLUB MARINA OPENING

The Beach Club Marina is scheduled to open in late May, conditions permitting.

See website for details.

SEASON + HOURS

Opening through Sept. 4: Daily | 7AM-9PM

SKY RONDENET

Sept. 5 through Oct. 1: Daily | 8AM-7PM Dive into fun at the Beach Club Marina on Donner Lake. With a private beach, clear water and endless activities, the marina offers something for everyone. Rent a boat, take a lesson, attend a clinic, go for a swim, build a sandcastle, eat some ice cream – the adventures are endless!

SAILING CAMPS + KAYAK TOURS

Sailing camps and kayak tours are on sale now! For details and info on how to register, visit tahoedonner.com/marina. tahoedonner.com/marina

LIFEGUARD CERTIFICATION + RECERTIFICATION

Lifeguard certification classes will take place May 24-26 from 3:30-7:30PM and June 3-4 from 9AM-4PM. A recertification class will take place on June 10 from 9AM-4PM. $80 per class.

Learn more on the web.

Bonus: if you become a lifeguard at Tahoe Donner this summer, your course fee will be reimbursed after 30 days of employment! tahoedonner.com/fitness tahoedonner.com/aquatics

All prices, dates, times and locations are subject to change. Please visit tahoedonner.com for the latest information.

BIKEWORKS

STAY IN THE KNOW. SIGN UP FOR WEEKLY EMAILS:

TAHOEDONNER.COM/SUBSCRIBE

www.MS-AC.com

TAHOE DONNER CONTACTS Area Code (530)

MEMBER SERVICES

587-9400 | info@tahoedonner.com | Live chat on website

OPENING

Bikeworks is scheduled to open when conditions permit. Visit the website for the most up-to-date information.

HOURS OF OPERATION Daily | 9AM-6PM

Bike camps, guided rides and private lessons are all currently available for purchase on ShopTD. A selection of used rental bikes will also be available for purchase starting opening day on a first come, first served basis. In-person sales only. tahoedonner.com/bikeworks

AMENITIES Beach Club Marina 587-9460 Bikeworks 582-9694 Campground 587-9462 Cross Country Ski 587-9484 Downhill Ski Resort 587-9444 Equestrian Center 587-9470 Forestry 587-9432 Golf Course 587-9443 The Lodge 587-9455 Recreation Hut 587-9413 Snowplay 587-9437 Tennis Center 587-9474 Trails 582-9672 Trout Creek Rec Ctr 587-9437

marina@tahoedonner.com bikeworks@tahoedonner.com campground@tahoedonner.com xc@tahoedonner.com ski@tahoedonner.com equestrian@tahoedonner.com forestry@tahoedonner.com golf@tahoedonner.com lodge@tahoedonner.com recreation@tahoedonner.com snowplay@tahoedonner.com tennis@tahoedonner.com trails@tahoedonner.com troutcreek@tahoedonner.com

ASSOCIATION COMMITTEE CHAIRS Architectural Standards Rod Whitten aso@tahoedonner.com

Giving Fund Nan Meek tdgf@tahoedonner.com

Covenants Chris Madden covenantscommittee@ tahoedonner.com

Long-Range Planning Dan Simmons lrpc@tahoedonner.com

Elections Steve Meyers electionscommittee@ tahoedonner.com

Trails and Open Space Peter Sawyer tos@tahoedonner.com

Finance Cathy Ravano financecommittee@ tahoedonner.com

ASSOCIATION CHARTERED CLUB PRESIDENTS

EQUESTRIAN CENTER HORSE BOARDING

The Equestrian Center is now accepting 2023 horse boarding applications for members and the public. Boarding begins June 1.

HORSEMANSHIP CAMPS

Horsemanship camps run from June 19 through Aug. 11 (conditions permitting) and can be purchased on ShopTD. See website for complete details. tahoedonner.com/equestrian

4-Wheelers Tim West club@td4wheelers.org

Mountain Bike Dustin Young dustinyoung75@gmail.com

9-Holers Women's Golf Coral Cavanagh td9hole@gmail.com

Quilt Odette Turmel odette.turmel@gmail.com

Equestrian Susan Terrell terrellsf@earthlink.net

Rowing Ward Sproat efs3@comcast.net

Hiking Robin Reese rbtahoe@sbcglobal.net

Running Scott Bauhs info@tdrunclub.com

Junior Golf Jean Lai jslai@comcast.net

Senior Alpine Ski Stephen O’Brien stephob@comcast.net

Karate Suz Field IKLdojo.TD@gmail.com

Tennis/Pickle Ian Mindell tennis@tahoedonner.com

Limited Abilities Persons’ Golf Mike Srago msrago@comcast.net

Women’s Golf Tami Waddell wadainker@aol.com

Men’s Golf Brian Gauny briang@merithr.com

MEMBER FEEDBACK

Help improve the overall association.

Submit your comments and concerns via our online form on the member portal or at tahoedonner.com/feedback.

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TAHOE DONNER NEWS |

11

THE

BUZZ: CLUBS KARATE CLUB On April 1, several students earned belt promotions: Denise Kowal, blue belt; Alyssa Flynn, green belt; and Bradley, Jayden and Kayla Flynn, green belts. After testing, we celebrated with a delicious potluck and played games at Sensei Suz Field's home in Tahoe Donner.

TD Karate Club is a year-round club that promotes self-discipline, social support and physical fitness through Shorin Ryu-style karate. Karate can be tailored to individual ability, improving balance, strength and flexibility while teaching basic selfdefense techniques. Taught in a nonthreatening environment by senseis with over 30 years of experience, we encourage you to come and learn about this beautiful practice!

Location: Trout Creek Rec Center

Days: Thursdays and/or Saturdays

Times: 4-6PM (beginners dismissed at 5PM) Costs: $50 club fee plus annual rec fee or daily rec center access fee Eligibility: Ages 8+; TD residents; Limited guests

SKY RONDENET

To Join: Contact Suz Field Sensei at IKLdojo.TD@gmail.com to observe or participate in classes prior to joining the club.

QUILT CLUB

JUNIOR GOLF CLUB

April showers bring May flowers, but unfortunately, we may have to wait until July, considering they are under 10 feet of snow. It’s also funny to hear the radio commercials from Lowe’s saying it’s time to start cleaning the yard! Nonetheless, we’re grateful for the abundance of water in our reservoirs post-winter. Even if it doesn’t yet feel like spring, it’s time to get that flower print fabric from the bottom of the pile and start a brightly colored project to welcome the new season.

It was a big winter, but the course is recovering. Let’s get our golf games to recover as well! The Tahoe Donner Junior Golf Club allows younger players to play golf with players of similar ages and abilities. We meet at the practice green at 2PM each Thursday. We play putting and chipping games until 3PM and then head onto the course to play nine holes. In addition to the standard tees, there are junior tees to match the experience and ages of less experienced players. To keep pace, we play a “scramble.”

Curious about what we do? Come on by! For more information about the Tahoe Donner Quilt Club, contact Odette at odette.turmel@gmail.com.

The club meets downstairs in the Alder Room at The Lodge Restaurant & Pub on the first and third Wednesday of the month (weather permitting) from 1-3PM.

To have your child participate, complete the TDJGC membership package available at the Pro Shop.

A $10 fee will also be collected for the summer to cover snacks and drinks. You must call the Pro Shop at (530) 581-9440 by 5PM on the Wednesday before play days to be included on the tee sheet. Each play day requires a green fee for the day. Tahoe Donner has provided us with a special discounted price of only $15.

We look forward to seeing your kids out there! For questions, please email Russell at rslai@comcast.net or by phone after June 1 at (530) 582-0673.

4-WHEELERS CLUB Several members traveled to the Red Rock 4 Wheelers (RR4W) Easter Jeep Safari for an epic adventure in Moab.

Alastair and Susan Westgarth and David and Jean Thompson met up with TJ, Molly and Jake from Truckee’s premier 4x4 shop, Sierra Adventure Vehicles, to hit the trails. They rode Fins and Things, Poison Spyder, Hell’s Revenge, Backwards Bill and Top of the World – which was especially challenging due to significant mud. Alastair commented that “the muddy last two miles up and around the loop were the hardest wheeling I have ever done.” The RR4W trail guides – plus the excellent obstacle guidance from TJ – got the gang home safe, but with tons of adrenaline shots along the way!

The TD4WD Club is making a fall trip to RR4W’s Labor Day Safari and Ouray, Colorado, for some Rocky Mountain Runs. Check out TD4Wheelers.org for more information.

TD 9-HOLERS CLUB

EQUESTRIAN CLUB Who's eager to get on the trails this summer after the heaviest and longest snowfall in years? Equestrians, hikers and bikers will be out to enjoy the mountains and share a smile or nod on the trails.

While out, it’s easy to “slow and say hello!”

For more information on the Equestrian Club, email terrellsf@earthlink.net.

By slowing down, we respect other trail users’ space and experience in nature.

A greeting brightens the day. Many riders are happy to interact with families and talk about their horses. So, we'll see you out there, and remember, “slow and say hello!”

MEN’S GOLF CLUB

WOMEN’S GOLF CLUB

Attention current and prospective TD Men’s Golf Club members!

Golfers, mark your calendars for the first event of the season! Sunday, May 28, at 4PM is our welcome social. This is an informal get-together (no golf) to reconnect as club members after the long winter and celebrate the season ahead. This event is open to members of the Men’s Golf Club, Women’s Golf Club and 9-Holers, significant others and prospective new members. Look for your invitation in May. Participation will be limited and an RSVP is required.

Now is the time to join the Men’s Golf Club or renew your membership. We have a full schedule planned, so mark your calendars and don’t miss out on the fun!

Welcome Event Ice Breaker

NCGA Zone

North Tahoe Cup #1

May 28

June 11

June 17

June 19

Match Play Qualifier

June 24

NCGA Net Amateur

July 16

North Tahoe Cup #2

July 10

NCGA Senior Four-Ball

July 28

NCGA Four-Ball

Aug. 13

Parent/Child or Junior/Senior July 30 Annual Club Dinner

Club Championship Ryder Cup

SENIOR ALPINE SKI CLUB

Aug. 19

Our spring events include a casual social in the Pro Shop and our traditional spring brunch. This fun event offers an opportunity to reconnect, meet new people and preview the upcoming season.

Mulligan sales are also featured, along with a prize drawing. Tahoe Donner also has three active golf clubs, and together, we’re planning a welcome social at the Lodge Restaurant & Pub. This get-together provides existing and prospective members a chance to meet current members and learn more about all TD golf clubs.

We are happily welcoming new members and a great group of returning golfers to our club this year.

To get ready for the season, we will hold a focused orientation/refresher session before our first week of play.

Highlights for the summer will include twilight play evenings with our guests, a summer tournament/luncheon in July and our club championship/ banquet in August. Our friendly, supportive club is a great way to meet new people and improve your game through easy-to-fit-in, inclusive 9-hole play. For club information, email td9hole@gmail.com.

Aug. 19-20 Aug. 27

Invitational

Sept. 7-9

The Chapman

Oct. 1

The Memorial

For more information about the Women’s Golf Club, email TDWGClub@gmail.com.

We’re ready for the summer season – as soon as it’s ready for us! In the interim, we’re taking advantage of pre-season clinics that cover various get-ready-for-golf topics such as fitness, the mental game and understanding the rules.

Sept. 17

Plus, enjoy games every Wednesday morning from June through September.

For more information about the club, events and how to establish your membership, visit tdgolfclub.com or contact Membership Chair Michael O’Connell at oconnell.tdgolf@gmail.com.

FORM A CLUB! Following a huge winter, the TD Senior Ski Club scored some sunny days on the slopes and danced to great music by our favorite rock band, The Fresh Trax! The snow has kept us together for spring skiing, and we have plans for some exciting summer events too! Learn more and come join the fun at tdski.com.

Wine? Birding? Chess?

Photography? We want to support you in developing and promoting your club.

Learn more and get an application at tahoedonner.com/clubs.

TAHOE DONNER NEWS |

13

THE

BUZZ:

Make a dinner reservation online at OpenTable.com or call (530) 582-9669.

All offers listed are valid during non-holiday periods and are not valid with any other promotions or coupons. Offers subject to change. Check the website for changes to operating dates and hours. All hours of operation are conditions permitting.

DINING

HAPPY HOUR

Friday-Monday | 4-5PM

Take advantage of $6 draft beer, $7 house Chardonnay and $7 house Pinot Noir!

MONDAY NIGHT TRIVIA Mondays | 6PM

Alder Creek Cafe offers delicious, healthy options featuring seasonal and organic ingredients, unique draft and bottled beers and a diverse wine list.

HOURS

Pizza on the Hill is serving up a fresh menu with delicious options for family and friends, including fresh pizza, handmade pasta, appetizers, salads and more.

HOURS

Start your week off with a bang with Monday night trivia! Discover clever, brain-teasing questions to test your knowledge of random facts and a chance to win cool prizes as you enjoy fresh pizza, weekly pasta specials, classic appetizers, wine, local draft beer and more during this wildly fun game night for adults.

Friday-Monday | 4-8PM

11509 NORTHWOODS BLVD (530) 582-9669 TAHOEDONNER.COM/PIZZA

The Lodge Restaurant & Pub is an award-winning neighborhood bistro with a hand-picked wine selection and craft cocktail menu, as well as local and organic meat and produce.

BRING BACK THE MAC!

Reservations strongly recommended.

BEGINNING MAY 26, 2023* Sunday-Friday | 11:30AM-3PM Saturday | 11:30AM-4PM Edi-Bōl Thursday | 5-8PM (starting June 1)

*Alder Creek Cafe is currently closed for the season. The cafe looks forward to welcoming back members for summer beginning May 26, conditions permitting. Find the latest hours online.

15275 ALDER CREEK RD (530) 582-9686 TAHOEDONNER.COM/ALDERCREEKCAFE

HOURS

PUB Wednesday-Sunday | 4:30-8:30PM

The Marina Grill at the Beach Club Marina offers grill items, wraps, salads, ice cream and an assortment of other tasty snacks. Soft drinks, beer, wine, tropical cocktails and a limited spirits menu are also available.

SEASON + HOURS

Opening through Oct. 1 | 11AM-6PM

Opening Day is scheduled for late May, conditions permitting.

12915 DONNER PASS ROAD (530) 587-9460 TAHOEDONNER.COM/MARINA-GRILL

DINNER SERVICE Wednesday-Sunday | 5-8:30PM

Make a dinner reservation online at OpenTable.com or call (530) 587-9455.

HAPPY HOUR

Wednesday-Thursday | 4:30-6PM

Enjoy $7 house wine and cocktails, as well as $5 draft beer. Starting at 5PM, receive 25% off the Pub menu.

Cannot be combined with any other discount or promotional offer.

NO CORKAGE WEDNESDAYS Bring your own bottle of wine, and we’ll waive the corkage fee on Wednesdays.

Each week in May, the Lodge will feature a creative new take on classic mac and cheese for diners to try and vote for a favorite. The winning mac and cheese dish will be added to the summer dinner menu. Offered during regular dining service hours only. Details available online.

CINCO DE MAYO PARTY Friday, May 5 | 5-8:30PM

Celebrate this festive holiday with a traditional Mexican dinner, $7 margaritas and $4 beer specials. Not valid with any other discount or promotion.

FREE TASTING

Friday, May 12 | 5-6:30PM

Enjoy free samples of unique and refreshing cocktails hand-crafted from the Diageo Spirits Portfolio.

12850 NORTHWOODS BLVD (530) 587-9455 TAHOEDONNER.COM/THELODGE

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TAHOEDONNER.COM/SKISEASONPASSES TAHOE DONNER NEWS |

15

THE REPORT

RECONNECTING WITH JAIRO

HOW TO MAKE A COVENANTS COMPLAINT

By DIANE CAMPBELL, Tahoe Donner Giving Fund Committee Member When Jairo made it to the final stage of the Tahoe Donner Giving Fund Impact Scholarship application process two years ago, our committee was wowed by his confidence and intelligence and impressed by his aspirations as a budding, self-driven engineer. Jairo explained that when he was given his first iPhone in high school, he was curious about how it operated. Following his unique instinct, he disassembled the phone to study its parts and then reassembled it perfectly!

where he and his teammates are building an electric vehicle from scratch and will race it against other universities’ cars this summer.

When asked what the TDGF Impact Scholarship has meant to him, Jairo gratefully expressed that “none of this would have been possible without this gift.”

He plans to use his technological knowledge to someday help the world, be it with robots, AI/machine learning and more.

Last summer, Jairo and I caught up over lunch in Truckee. He was anxious to show me his new car before we parted ways because – of course – he had already taken it apart and rebuilt it. Jairo has a bright future ahead of him!

1

Email compliance@tahoedonner.com.

2

Visit the member portal at tahoedonner.com/member-portal.

3

Call (530) 414-8166. Phone is staffed seven days a week from 9AM-4:30PM, with an after-hours answering service from 4:30PM-9AM daily.

WHAT INFORMATION TO PROVIDE When making a complaint, be prepared to provide:

• Your name, address and email.

• Address of property being complained about.

• Nature of complaint with times occurring.

• Evidence: photos, video, etc.

• How this behavior is affecting you.

• What actions have been taken (e.g., called police).

WHAT HAPPENS NEXT

WHY I GIVE “As one of the TD Giving Fund founding members, it is gratifying and a pleasure to follow the scholarship recipients during their studies and after graduation. Some have returned to Truckee as schoolteachers and social workers.”

– Barbara Czerwinski, Tahoe Donner homeowner and founding member of the Tahoe Donner Giving Fund The Tahoe Donner Giving Fund is chartered by the TD Board of Directors. All contributions are

Tahoe Donner will make every effort to contact the owner of the property being complained about, share details about the complaint and request voluntary compliance. We will: • Call the primary phone number on file and speak to the owner or leave a message.

• If no answer, call additional phone numbers on file to speak with or leave messages for owner or designated contact.

• Email the owner via any email on file.

• Send follow-up email to the complainant confirming attempts to contact owner

voluntary tax-deductible gifts from TD members and friends. The Giving Fund is administered through the Tahoe Truckee Community

Jairo is currently finishing his sophomore year at the University of Nevada, Reno, majoring in computer science/engineering.

With a 3.5 GPA, he is part of the school’s Honors Program, a challenge that gets him “out of his comfort zone.” Additionally, Jairo works as a teaching assistant for a graduate student in the computer science department. He holds office hours, does some grading and helps with labs. Jairo also joined the Nevada Electric Racing Car Club,

Foundation. For more information on the Giving Fund or to make a contribution, visit our webpage at tahoedonner.com/giving-fund.

Contact tdgf@tahoedonner.com with questions or to volunteer for the committee. We thank and are grateful for our founding partner, Elements Mountain Company, for their continuing support.

FOUNDING PARTNER

TOWN OF TRUCKEE STR HELPLINE (530) 450-2430

REPORT STR VIOLATIONS INCLUDING NOISE, TRASH, PARKING AND MORE

Please utilize the Helpline if you wish to report a property that is in violation of the Town of Truckee’s short-term rental ordinance, including noise, trash, parking or other violations.

We carry high-quality hardwood flooring and carpet ideal for your mountain home. Visit us and explore our amazing selection at the Pioneer Commerce Center in Truckee.

10800 Pioneer Trail, Unit 3, Truckee Since 1979 | office@bassettflooring.com 530 582.7428 | CA LIC #345494

J IN THE CLUB FLEXIBLE MULTI-PLAY PACK OPTIONS ON SALE NOW!

LEARN MORE AT TAHOEDONNER.COM/GOLF TAHOE DONNER NEWS |

17

THE REPORT

BUSINESS DIRECTORY AUTOMOTIVE SERVICES

FLOORING

11500 Donner Pass Road, Unit D, Truckee, CA 96161 (530) 448-8532 qualityautomotiveservicing.com

10800 Pioneer Trail #3, Truckee, CA 96161 (530) 582-7428 truckee.abbeycarpet.com

QUALITY AUTOMOTIVE SERVICING

DEFENSIBLE SPACE / LANDSCAPING / TREE SERVICE ALPEN TREE EXPERTS

10221 Schaffer Drive, Truckee, CA 96161 (530) 448-1194 alpentree@gmail.com alpentree.com

ELEMENTS MOUNTAIN CO.

17356 Northwoods Blvd., Truckee, CA 96161 (530) 582-0300 info@elementsmtn.co elementsmtn.co

HALL TREE

PO Box 3374, Truckee, CA 96160 (530) 320-8061 halltree@gmail.com halltreecompany.com

LOCKWOOD LIGHTSCAPES PO Box 1773, Truckee, CA 96160 (530) 559-8005 lockwoodlightscapes@gmail.com lockwoodlightscapes.com

PEAK LANDSCAPE INC. PO Box 575, Truckee, CA 96160 (530) 587-4269 info@peaklandscapeinc.com peaklandscapeinc.com

DRIVEWAY SEALING ELEMENTS MOUNTAIN CO.

17356 Northwoods Blvd., Truckee, CA 96161 (530) 582-0300 info@elementsmtn.co elementsmtn.co

FIREPLACES / WOOD STOVES MOUNTAIN HOME CENTER

11403 Brockway Road, Truckee, CA 96161 (530) 587-6681, (800) 517-6262 info@mountainhomecenter.com mountainhomecenter.com

BASSETT FLOORING

DONNER TAHOE FLOORING

12710 Northwoods Blvd., Ste. 1, Truckee, CA 96161 (530) 386-6635 donnertahoeflooring@gmail.com donnertahoeflooring.com

RENEWAL BY ANDERSEN – JIM CORSARO, DESIGN CONSULTANT (916) 672-9186 jimrba.com

HOME OXYGENATION

ALTITUDE CONTROL TECHNOLOGY (970) 528-1300 info@altitudecontrol.com altitudecontrol.com

GALLERIES

HVAC

PIPER J GALLERY

M+S HEATING + AIR

10250 Donner Pass Road, Truckee, CA 96161 (775) 220-0325, (530) 386-7735 piperjgallery@gmail.com piperjgallery.com

(775) 843-7930 kentj@ms-ac.com debbiec@ms-ac.com ms-ac.com

HEALTH CARE

INTERIOR DESIGN

5530 Kietzke Lane, Reno, NV 89511 (775) 284-2020 plasticsurgeryrenotahoe.com

10004 SE River Street, Truckee, CA 96161 (415) 702-6460 info@hsh-interiors.com hsh-interiors.com

McCORMACK PLASTIC SURGERY

TAHOE FOREST HOSPITAL

10121 Pine Avenue, Truckee, CA 96161 (530) 587-6011 tfhd.com

HOME + OUTDOOR FURNISHINGS MOUNTAIN HOME CENTER

11403 Brockway Road, Truckee, CA 96161 (530) 587-6681, (800) 517-6262 info@mountainhomecenter.com mountainhomecenter.com

HOME IMPROVEMENT + SERVICES EAST FORK ROOFING

1513 Greg Street, Sparks, NV 89431 (775) 800-7663 (ROOF) office@eastforkroofing.com eastforkroofing.com

MR. HONEY-DO

PO Box 5247, Tahoe City, CA 96145 (530) 581-4031, (775) 548-4031 info@mrhoneydo.biz mrhoneydo.biz

HSH INTERIORS

PAINTING SERVICES DEDEN PAINTING

11392 Oslo Drive, Truckee, CA 96161 (530) 587-7525, (678) 665-5497 elliot@dedenpainting.com dedenpainting.com

EASTERBROOK PAINTING, INC.

15666 Alder Creek Road, Truckee, CA 96161 (530) 550-9332 info@easterbrookpainting.com easterbrookpainting.com

ELEMENTS MOUNTAIN CO.

17356 Northwoods Blvd., Truckee, CA 96161 (530) 582-0300 info@elementsmtn.co elementsmtn.co

SIERRA PRECISION PAINTING PO Box 11107, Truckee, CA 96162 (530) 550-7938

sierraprecisionpainting@gmail.com sierraprecisionpainting.com

PROPERTY MANAGEMENT

MANAGEHOME

SIERRA SOTHEBY’S INTERNATIONAL REALTY, TRUCKEE

SECOND HOME CARE INC.

TRUCKEE & LAKE TAHOE REAL ESTATE – COLDWELL BANKER RESIDENTIAL BROKERAGE

REAL ESTATE

SNOW REMOVAL

12177 Business Park Drive, Ste. 2-125, Truckee, CA 96161 (844) 431-4663 (HOME), (530) 500-2777 meghan@managehome.net managehome.net

17400 Northwoods Blvd., Ste. 3, Truckee, CA 96161 (530) 582-0220 shc@secondhomecare.com secondhomecare.com

ALISON ELDER – ELDER GROUP TAHOE REAL ESTATE – BERKSHIRE HATHAWAY HOMESERVICES 10770 Donner Pass Road, Ste. 205, Truckee, CA 96161 (530) 582-8103 info@eldergrouptahoe.com eldergrouptahoerealestate.com

DICKSON REALTY, TRUCKEE

11836 Donner Pass Road, Truckee, CA 96161 (530) 587-7444 info@dicksonrealty.com dicksonrealty.com

THE SHARP TEAM/COMPASS

11425 Donner Pass Road #12B, Truckee, CA 96161 (530) 587-8574 info@janiesharp.com thesharpteam.com

11177 Brockway Road, Truckee, CA 96161 (530) 587-3505 sierrasothebysrealty.com

17400 Northwoods Blvd., Truckee, CA 96161 (530) 446-2256 team@truckee-tahoe.com tahoe-truckeerealestate.com

ELEMENTS MOUNTAIN CO.

17356 Northwoods Blvd., Truckee, CA 96161 (530) 582-0300 info@elementsmtn.co elementsmtn.co

ESTABROOK, INC.

PO Box 1924, Truckee, CA 96160 (888) 958-5509 contact@estabrookinc.com estabrookinc.com

SUMMIT SPAS AND HOME SERVICES

(530) 414-4803 sshstahoe@gmail.com facebook.com/people/ Summit-Spas-and-Home-Services/100067468184761

SPAS / PATIO FURNITURE MOUNTAIN HOME CENTER

11403 Brockway Road, Truckee, CA 96161 (530) 587-6681, (800) 517-6262 info@mountainhomecenter.com mountainhomecenter.com

TAHOE SPA DOCTOR (530) 414-4803 john@tahoespadoctor.com tahoespadoctor.com

GET YOUR BUSINESS AND SERVICES IN FRONT OF TAHOE DONNER HOMEOWNERS Learn more about advertising with Tahoe Donner at tahoedonner.com/advertise

For more information about these businesses, please visit tahoedonner.com/businessdirectory. These services are provided for Tahoe Donner homeowners. The businesses included in the directory are advertisers with Tahoe Donner. Tahoe Donner Association makes no claims regarding the quality of goods or services provided by these companies. Potential customers are advised to use their own best judgment.

TAHOE DONNER NEWS |

19

THE REPORT

BRIEFS RECREATION FEE CYCLE BEGINS MAY 1

The new Recreation Fee cycle begins May 1, 2023, through April 30, 2024.

Upon payment of the annual Recreation Fee, up to eight members of the same household with qualifying member ID cards are granted access to the Beach Club Marina, Northwoods Pool, Trout Creek Recreation Center, Tennis Center and, in the wintertime, Snowplay, without having to pay the daily entrance fee for the duration of the cycle.

Paying the annual Recreation Fee is an ideal way to ensure family members can optimize their enjoyment of Tahoe Donner’s amenities. For additional details on Recreation Fee benefits, as well as current daily access fees, please visit the website at tahoedonner.com/member-cards-rec-fee or email Member Services at info@tahoedonner.com.

The Recreation Fee can be purchased online through the member portal or by calling Member Services at (530) 587-9400 ext. 0.

The fee is non-refundable and non-transferable.

To learn more, turn to page 10 or visit tahoedonner.com/lifeguard-certification.

THE NORTHWOODS CLUBHOUSE AND MEMBER SERVICES OFFICE CLOSED ON SUNDAYS THROUGH MAY 21

The Northwoods Clubhouse and the Member Services office located inside are closed on Sundays through May 21.

Member Services is currently open from 8AM-5PM Monday through Saturday and will return to seven-day-a-week operations beginning May 22.

Through the program, offered in May and June, teens and adults ages 15 and older can learn how to provide safety and protection to swimmers and respond to water-related emergencies. Following training, participants will receive the American Red Cross Lifeguard certificate and a CPR/AED and First Aid for the Professional Rescuer certification.

VOTE FOR YOUR FAVORITE TAHOE DONNER AMENITIES

The Sierra Sun’s Best of North Lake Tahoe and Truckee is back, and it’s time to vote for your favorite Tahoe Donner amenities, as well as finalists for other fun categories.

Visit sierrasun.com/best to learn more and vote through May 17.

Member services can assist with the following: • Recreation fee payments • Membership changes • Member and guest cards • New owner membership setup • Address/profile changes • Adding children ages 7 and under For any additional inquiries, please email info@tahoedonner.com.

BECOME A LIFEGUARD AT TAHOE DONNER! BEARS MAY BE MORE Join the Tahoe Donner team as a lifeguard ACTIVE AND BOLDER and have your training and certification THAN NORMAL reimbursed through Tahoe Donner’s Aquatics program after 30 days of employment! Enjoy the sunshine while working outdoors all summer long at the Trout Creek Rec Center pools or the Northwoods Pool.

enclosures, garages or sheds, and securing doors and windows from unwanted entry.

To learn more about how to live in harmony with these mostly gentle and hungry giants, please visit the state’s websites, tahoebears.org and bearwise.org.

While it may not seem like springtime, it is already that time of year when bears are beginning to emerge from hibernation.

State wildlife officials are concerned that with so much snow still covering the ground making it difficult to find natural food sources, bears may become more active in residential zones.

While bears are mostly harmless to humans, interactions between the two can endanger both. It is recommended that homeowners take extra precautions to prevent bears’ access to human sources of food by properly storing trash in animal-resistant

SIGN UP FOR TAHOE DONNER TEXT ALERTS BE IN THE KNOW WITH TIMELY SAFETY MESSAGING, INCLUDING NOTES ABOUT FIRE SAFETY + EMERGENCY PREPAREDNESS

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TAHOE DONNER NEWS |

21

THE REPORT

BOARD MEETING RECAP BOARD OF DIRECTORS MEETING March 24, 2023 Consent Calendar • The Equestrian Subcommittee Charter and Tahoe Donner Giving Fund Scholarship Awards were removed. The remaining items were approved 5-0.

• The Equestrian Subcommittee Charter was revised and then approved 5-0.

• The Tahoe Donner Giving Fund Scholarship Awards were approved 5-0.

Downhill Ski Lodge • The Board was updated on the Downhill Ski Lodge Replacement Project.

• Bull Stockwell Allen (BSA) Architects presented their value engineering efforts on the current building design plans.

• As a reminder, staff await the Town of Truckee’s environmental designation that will determine Tahoe Donner’s planning commission date and timeline for the Downhill Ski Lodge Replacement Project.

Go to tahoedonner.com/boardmeetingdocs to see presentations and video recordings of past meetings. To provide feedback to help improve the overall association, please submit your comments and concerns at tahoedonner.com/feedback.

UPCOMING COMMITTEE MEETINGS

Tuesday, May 2, 2023 – Elections Wednesday, May 3, 2023 – Architectural Standards Wednesday, May 3, 2023 – Trails + Open Space Monday, May 8, 2023 – Giving Fund Thursday, May 11, 2023 – Covenants Thursday, May 11, 2023 – Long-Range Planning Wednesday, May 17, 2023 – Architectural Standards Thursday, May 18, 2023 – Finance Tuesday, June 6, 2023 – Elections Wednesday, June 7, 2023 – Trails + Open Space To get meeting details, including Zoom meeting registration information and time, please send an email to executiveassistant@tahoedonner.com.

UPCOMING BOARD MEETINGS

Ad Hoc Subcommittee of the Board The Board was updated on the draft proposal for a revised Operating Fund Policy.

Friday, May 26, 2023 – Regular Board Meeting Friday, June 23, 2023 – Regular Board Meeting Sunday, June 25, 2023 – Annual Membership Meeting

The Board moved to continue the Ad Hoc Subcommittee to complete work on the proposal for a revised Operating Fund Policy with the following timeline: • April or May 2023 – Board of Directors + Finance Committee joint workshop to provide feedback.

• June 2023 – Approval of the proposal.

Board meeting dates subject to change. Visit tahoedonner.com for dates.

This workshop may be combined with the Board of Directors – Finance Committee joint workshop on the building replacement schedule and funding program policies. Motion passed 5-0.

Ballot Box Proposal The Board approved the placement of ballot box(es) in the Member Services office at the Northwoods Clubhouse to collect board election ballots dropped off from Tuesday through Saturday of the final week of the election. Motion passed 5-0.

Architectural Standards Fee Schedule The Board reviewed recommendations for changes to the Architectural Standards Project fees in preparation for a request for publication of a 45-day member notification.

General Manager Update The Board was updated on shoulder season Food and Beverage plans, capital projects and TDA bank accounts.

Finance Committee Charter The Board considered an updated Finance Committee charter and provided feedback.

HOMES ON THE RISE

The Architectural Standards Committee reviewed and approved the following new house plans in March 2023.

UNIT/LOT ADDRESS

SQ. FT.

PROJECT

11/250

2,501

House

14564 Swiss Lane

COVENANTS VIOLATIONS HEARINGS The Covenants Committee held the following violations hearings in March 2023.

STREET

VIOLATION

FINE

Cristallina Way Common Area

Off-Road Vehicle

$400

Northwoods Blvd.

Noxious Activity – Snow Removal HOA Common Area

$400

Go to tahoedonner.com/covenants to view covenants rules and how to make a covenants complaint.

WORK+PLAY INTAHOE DONNER “I took this job over other positions because this place matters to me; it’s where I got my start. I’ve worked on and off here since I was 16, so there’s not one job on this golf property that I haven’t done. This course – Tahoe Donner’s course – is home.”

– JEFF HWANG, HEAD GOLF PROFESSIONAL Discover rewarding job opportunities with Tahoe Donner! Join a team of like-minded, outdoor enthusiasts and enjoy additional perks and benefits like food and retail discounts, golf discounts and free access to amenities like the Trout Creek Rec Center, Beach Club Marina and more.

TAHOE DONNER IS CURRENTLY HIRING FOR FULL-TIME, PART-TIME AND SEASONAL SUMMER POSITIONS.

APPLY TODAY AT TAHOEDONNER.COM/JOBS

TAHOE DONNER NEWS |

23

Dear Members, On behalf of the Tahoe Donner Association Board of Directors and our management team, we are pleased to provide you with the 2022 Tahoe Donner Annual Report. This report includes the Association’s 2022 audited financial statements along with a wealth of additional information about your Association starting on page 25. We encourage you to carefully review this material to become more familiar with the Association’s operating performance and financial condition.

Looking back, we can’t help but celebrate the highs and lows of the 2022 seasons.

Tahoe Donner’s financial successes often align closely with the weather, and this year was no exception. The year started with staff digging out from an extreme snowstorm, which was then followed by a lengthy absence of precipitation. Spring was welcomed early, and while cooler temperatures introduced the summer season, it played a large part in fire safety. Tahoe Donner was fortunate that the only wildfire smoke that affected us was from the Mosquito Fire in early September.

While the smoke did impact operations, those impacts were not as great as what we experienced in 2021. 2022 ended as one for the record books with a snowfall that laid the foundation for one of the snowiest winters in Tahoe history.

Many capital projects were prioritized in 2022 to replace and improve aging infrastructure.

This included snowmaking capability at the Cross Country Ski Center, Pavilion improvements at The Lodge Restaurant & Pub and boardwalk restoration around the Alder Creek Adventure Center. One of the biggest continuing projects remains the Downhill Ski Lodge Replacement Project. 2022 highlights related to the ski lodge replacement included a member survey, special board meetings, development application submission to the Town of Truckee and regular efforts to value-engineer the design of the replacement lodge. Thank you to all members who made their voices heard for all projects across the association.

Tahoe Donner was not immune to the labor challenges impacting our region in 2022. In

order to hire and retain our workforce, we took steps to ensure we were competitive in the labor market. Taking a multi-year approach to strengthening our reputation as a great employer, extensive work was done to offer competitive wages, in addition to seasonal retention bonuses and reduced costs to the staff for insurance premiums.

A portion of the 2021 Operating Fund surplus was utilized to offset the 2022 Operating Fund deficit of $233,845, which was caused by rising operating costs for energy, insurance premiums and staffing.

These increases are a continuing reflection of a post-pandemic world.

Rounding out 2022, the level of funds in our capital reserves is the highest in Tahoe Donner history. As staff and the board look to continue improving our association, now over half a century old, these reserves will help us renew and refresh amenities, as well as navigate extreme weather, new building codes, a growing population, diverse recreational interests and the safety of those in our community. Continuous investment in our amenities based on this strong financial foundation better prepares us for the future, enhances the member and guest experience and leads to stronger home values.

Each year, we are gratefully reminded of how our passionate members continue to shape the association for the better. We all live, work and play in this unique alpine community.

Whether Tahoe Donner is where you reside, where you enjoy your vacation getaways or something in between, thank you for joining in the adventure.

Sincerely, Stephen Mahoney Treasurer, Board of Directors smahoney@tahoedonner.com David Mickaelian General Manager dmickaelian@tahoedonner.com tahoedonner.com/financials

2022

ANNUAL REPORT

$11,914

PER OWNER MEMBER EQUITY A 7% INCREASE FROM 2021

$6.6 MILLION

IN CAPITAL EXPENDITURES

REINVESTING IN YOUR ASSOCIATION, PROTECTING YOUR INVESTMENT CAPITAL DISCUSSION STARTS ON PAGE 10

$2.9 MILLION

IN OPERATING FUND RESERVES A PROVEN NECESSARY CONTINGENCY FUND BALANCE

-$233,842

NET OPERATING DEFICIT TO BUDGET

AFTER $250,000 TRANSFER OF 2021 SURPLUS FOR EMPLOYEE RECRUITMENT AND RETENTION INITIATIVES DETAILS ON PAGE 2

VISION STATEMENT Tahoe Donner is a vibrant and desirable mountain community providing attractive and well-maintained facilities, events, programs and leading customer service to its members, guests and public, all while maintaining accessible and healthy natural surroundings.

TAHOE DONNER 2022 ANNUAL REPORT |

1

OPERATING FUND RESULT: -$233,842 DEFICIT TO BUDGET

Dear Members, The purpose of this Annual Report is to provide a comprehensive report on Tahoe Donner Association’s 2022 financial results.

Net Operating Result Loss of $6.4 million, excluding Annual Assessment Revenue; an operating surplus to Budget of $16,000 was achieved prior to an additional $250,000 of funding for employee recruitment and retention initiatives

The consolidated Operating Fund generated a deficit to Budget of -$233,842.

This included $250,000 of further funding to the employee recruitment and retention program for 2022, which is critical to the Association’s ability to provide the best employees and service. Pre-recruitment and retention funding, a surplus of $16,000 to Budget was achieved.

$17.6 MILLION OPERATING REVENUES

Revenue finished $2,000,000 positive to Budget, driven by favorable winter conditions and despite an unseasonably cool start to summer. Golf, Tennis, Trout Creek and Aquatics operations recorded above-Budget revenues, with the Beach Club Marina falling -1.8% unfavorable to Budget.

Staffing continued to be a major challenge in 2022, which saw hourly wages increase across all amenities, resulting in a -3.2% variance to Budget. Utilities, supplies and maintenance increases saw a variance to Budget of -25% for the year.

The Board of Directors, Finance Committee and management consistently monitor both operational and financial results and are committed to responsive and proactive management, balancing our service levels to volume and financial performance.

12.7% greater than Budget and 33% favorable to 2021

$23.9 MILLION OPERATING COSTS

-10.2% unfavorable to Budget and -27% unfavorable to 2021

$6.6 MILLION CAPITAL FUNDS EXPENDITURES $6.1 MILLION | $946 PER OWNER

Annual Assessment Contribution to Operating Fund in 2022, down $50 per owner from 2021

$9.1 MILLION | $1,403 PER OWNER

Annual Assessment Contribution to Capital Funds in 2022

Please contact me anytime to discuss this report or any other financial aspects of your Association.

$88.9 MILLION TOTAL ASSETS

TODD MARTYN-JONES, Director of Finance, Accounting + Business Support tmartynjones@tahoedonner.com | (530) 587-9418

$77.1 MILLION | $11,914 PER OWNER

Up $7.7 million, or 9.5% to 2021

Members’ Equity as of Dec. 31, 2022, up 6.6% to 2021

OPERATING FUND

NET OPERATING RESULTS – 2022 VARIANCES TO BUDGET NOR UNFAVORABLE TO BUDGET -$233,842 | -3.82% | -$36.13 PER OWNER JANUARY-APRIL

• Revenues favorable $646,000, or 10% to Budget.

Great ski conditions with minimal snowfall offering many bluebird days. The Cross Country Ski Center closed a week early, while the Downhill Ski Resort closed on April 10, as budgeted. This period saw 38,000 downhill skier visits and 41,000 cross country visits.

• Total Operating Expenses (COGS, Payroll and Other Operating Expenses) were unfavorable -$498,000, or -7% to Budget.

MAY-SEPTEMBER

• Revenues were -$43,000, or -0.6% unfavorable to Budget.

Golf operations commenced on May 27, though unseasonally cool weather affected visitation at both the Golf Course the Beach Club Marina through the end of June. Similar to 2021, recruiting seasonal employees proved very challenging, most notably in Food + Beverage and Golf Maintenance.

• Total Operating Expenses (COGS, Payroll and Other Operating Expenses) were unfavorable to Budget by -$151,000, or -2.0%.

OCTOBER-DECEMBER

• Revenues were favorable to Budget by $1,400,000.

Winter operations opened as budgeted, with approximately 80 J-1 employees recruited for the Downhill ski school and some in Food + Beverage. December saw 107 inches of snowfall at the Downhill Ski Resort, setting us up well for the holiday period.

• Total Operating Expenses (COGS, Payroll and Other Operating Expenses) were unfavorable to Budget by -$1,600,000.

• Net Operating Result favorable $148,000, or 23% to Budget.

• Net Operating Result unfavorable -$194,000 to Budget, or -6%.

• Audit adjustment of $420,000 in December to reclass all CAL FIRE grant reimbursable funds as revenue and gross increase the expense.

• Net Operating Result was unfavorable to Budget by -$188,000.

REVENUE AND PAYROLL

Chart dollars in thousands

OPERATING REVENUES

2018 $ 13,535,047

2019 $ 14,695,538

2020 $ 9,456,935

2021 $ 13,248,144

2022 $ 17,571,487

$18,000

EMPLOYEE W-2s ISSUED

958

954

695

710

844

$14,000

W-2s PER $1,000 REVENUE RATIO

7%

6%

7%

5%

5%

AVERAGE WAGES PER W-2 ISSUED

$

10,181

$

11,086

$

10,260

$

13,737

$

14,058

CALIFORNIA MINIMUM WAGE (1)

$

11.00

$

12.00

$

13.00

$

14.00

$

15.00

SEASONAL/PART-TIME FTE (3)

125.0

123.0

79.0

109.0

126.0

FULL-TIME REGULAR (2) FTE (3)

84.0

83.0

62.0

46.0

46.0

FTE (3) TOTAL

209.0

206.0

141.0

155.0

172.0

OPERATING REVENUE PER FTE W-2 TO FTE RATIO

$

64,761 4.6

$

71,338 4.6

$

67,070 4.9

$

85,472 4.6

$

102,218 4.9

The Association employs a high percentage of entry-level seasonal customer service positions to operate the various amenities of the Association. Late-2021 and early-2022 saw the Association still restricted as to the number of international employees able to be recruited; however, late-2022 saw recruitment return to pre-COVID-19 levels and thus the increase in W-2s issued compared to 2020 and 2021.

(1) California Minimum Wage; increased to $14.00 per hour in 2021 and $15.00 per hour in 2022.

(2) The Federal Affordable Care Act of 2010, which impacted the Association starting in 2016, created a federally regulated determination of those employees categorized as 'Full Time' and mandated to be offered health insurance. Prior to this Act, the Association had discretion as to which employees were offered health insurance and categorized full time and which were classified as seasonal employees.

(3) Full-Time Equivalents (FTE) as calculated based on a standard of 2,080 work hours per year.

2 | TAHOE DONNER 2022 ANNUAL REPORT

$16,000 $12,000 $10,000 $8,000 $6,000 $4,000 $2,000

$0 2021 ACTUAL 2022 BUDGET 2022 ACTUAL OPERATING REVENUE OPERATING PAYROLL

2022 ACTUAL VERSUS BUDGET REVENUE UP 13%, PAYROLL COSTS UP 5% 2022 ACTUAL VERSUS PRIOR YEAR REVENUE UP 33%, PAYROLL COSTS UP 23%

CALIFORNIA MINIMUM WAGE UP $1.00 OR 7% IN 2022 VERSUS 2021

ANNUAL ASSESSMENT

DISTRIBUTION OF 2022 ANNUAL ASSESSMENT

DISTRIBUTION OF 2022 ANNUAL ASSESSMENT ($2,349 PER OWNER) $2,349 PER OWNER $1,800

GRAY BARS ARE 2023 ANNUAL ASSESSMENT BUDGET ($2,624 IN TOTAL) FOR COMPARISON 60% / $1,403

$1,600 $1,400 $1,200

$1,559

42% / $992

$1,000

$1,089

$800 $600

8% / $194

$400

-3% / -$79

$200 $0 -$200

-7% / -$161

$186 -$44

HOA SERVICES FOR MEMBERS

HOA FORESTRY + FIRE PREVENTION

-$166

PRIVATE AMENITIES

PUBLIC AMENITIES

RESERVE CAPITAL FUNDS

ANNUAL ASSESSMENT OWNER

BY FUND ANNUAL ASSESSMENT PERPER OWNER

BY FUND $1,065

2023

$865

$946

2022

$848

$996

2021

$720

$940

2018

$30

$546

$

$200

$30

$400

$695

2012

$400

$30

$434

$791

2013

$30

$478

$842

2014

$30

$600

OPERATING

$800

$1,200

REPLACEMENT RESERVE

COMPOUND ANNUAL GROWTH RATE (CAGR) METRICS 2012-2022

2012-2023

CAPITAL FUNDS

7.5%

7.8%

OPERATING FUND

3.1%

4.0%

TOTAL ASSESSMENT 5.5%

6.1%

10 YEAR

$1,000

$250

11 YEAR

Accumulating funds over time to address the aging infrastructure needs of your Association, consistent with the Strategic Plan, while striving to minimize the Operating Fund portion of your Assessment.

$250

$250

$335

$1,965 $1,900

$250

$250

$2,241 $2,065

$1,900

$300

$30

$526

$994

2015

$355

$310

$30

$595

$1,074

2016

$30

$620

$975

2017

$30

$2,624 $2,349

$444

$770

$880

2019

$555

$801

$910

2020

$694

$1,900 $1,800

$1,600

$1,505

Capital portion 49% in 2012

$1,375 $1,400

Capital portion 59% in 2023

$1,600

$1,800

$2,000

$2,200

NEW MACHINERY + EQUIPMENT

$2,400

$2,600

$2,800

$3,000

DEVELOPMENT

KEY NOTES Capital Funds Portion of Annual Assessment

Operating Fund Portion of Annual Assessment

• The Replacement Reserve Fund portion has been deliberately increased over time to improve the reserve funding level of our 50-plus year-old Association. Underfunding reserves is considered the bane of many Associations across the country.

• The Operating Fund portion increased in 2015 and 2016 due to the combined pressures of winter droughts impacting operating revenue and rising payroll cost due to California minimum wage increases and the Federal Affordable Care Act impacts.

Tahoe Donner adopted a reserves funding policy and recent Boards have adhered to this policy. The Association’s reserves are now in a much stronger financial position to handle the replacement and major maintenance needs of the Association’s assets.

• The Development Fund portion was held at $250 for six years (2011-2016) and has increased steadily in subsequent years in recognition of known future funding requirements. This funding is for eventual building replacements, such as the Downhill Ski Lodge, due to functional obsolescence, and for new facilities or other new major projects due to the changing needs of the membership.

More Capital Funds historical information on pages 10-11

• For 2020, the Operating Fund portion was increased by $30 per owner to offset minimum wage increases and other operating costs.

• For 2021, the Operating Fund portion was increased by $86 per owner to offset minimum wage increases and a 23% increase in liability insurance; there was no Assessment increase to the New Machinery + Equipment Fund.

• For 2022, the Operating Fund portion decreased $50 per owner due to projected strong revenue at the Golf Course, Downhill Ski Resort and Cross Country Ski Center operations, while the Association absorbed further insurance and payroll costs.

More Operating Fund historical information on page 4

TAHOE DONNER 2022 ANNUAL REPORT |

3

OPERATING FUND

CAGR = COMPOUND ANNUAL GROWTH RATE

OPERATING FUND

ACTUALRESULTS RESULTS ACTUAL $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 ($5,000,000) ($10,000,000) ($15,000,000) ($20,000,000) ($25,000,000)

2012

2013

2014

2015

OPERATING REVENUES

2016

2017

2018

OPERATING COSTS

2019

2020

2021

2022

NET OPERATING RESULTS

Revenue finished the year $2 million favorable to Budget, while Utilities, Supplies + Maintenance and Staff Retention + Incentives saw total expenses exceed Budget by $2.2 million.

NOTE: Each year is subject to volatility due to weather and other variables. See page 28 for Budget growth information.

OPERATING FUND MEMBERS’ EQUITY OPERATING FUND

ACCUMULATED NET RESULTS NET RESULTS, CONTINGENCY OPERATING FUND ACCUMULATED $5,000,000 $4,000,000

+ $696,534 favorable results in 2020

- $233,842 unfavorable results in 2022

- $696,534 transfer to Development Fund

- $

+$

- $233,842 (C) 2022 change in Operating Fund equity

0 (A) 2020 change in Operating Fund equity

0 transfers

+ $850,213 favorable results in 2021

$3,000,000

- $

0 transfers

(A)

(B)

+ $850,213 (B) 2021 change in Operating Fund equity

(C)

$2,000,000 $1,000,000 $0

2012

2013

2014

FROM THE 2012 BUDGET TO THE 2022 BUDGET 10-YEAR CAGR 7.9% OPERATING REVENUE GROWTH 6.6% OPERATING COSTS GROWTH 3.8% NET OPERATING RESULT LOSS (THIS LOSS EQUATES TO THE PORTION FUNDED BY THE ANNUAL ASSESSMENT) See page 28 for more Budget growth information

4 | TAHOE DONNER 2022 ANNUAL REPORT

2015

2016

2017

2018

Costs are greater than Operating Revenues (every year), though Costs have increased at a lower growth rate. Therefore, the resulting NOR Loss growth rate is lower than both Revenue and Cost growth rates.

2019

2020

2021

2022

FOR 2023 BUDGET The 2023 Budget was prepared with the assumption of continued labor cost pressure, along with continued high inflation and higher overall operating costs.

NET RESULTS AFTER REPLACEMENT RESERVE CAPITAL CHARGE

BY DEPARTMENT

Net Operating Result (NOR) is defined as operating revenues less cost of goods sold and operating payroll and expenses.

BEACH CLUB MARINA

Refer to pages 6 and 7 for additional details.

2022 ACTUAL -$11,843,902

SNOWPLAY

93,629 89,666 167,978

CROSS COUNTRY SKI CENTER

479,746 920 368,622

DOWNHILL SKI RESORT

AMENITIES

-$1,750

-88,188 -51,512 -124,514

ALDER CREEK CAFE

-216,629 -51,158 -172,797

PIZZA ON THE HILL

-312,916 -527,571 -428,779

TRAILS

-264,510 -189,127 -243,727

EQUESTRIAN CENTER

-40,776 -13,656 -34,479

CAMPGROUND

-1,167,082 -1,029,382 -1,005,634

GOLF COURSE

923,752 431,060 180,122 -172,954 -203,131 -122,055

-$1,500

-$1,250

-$1,000

-$750

-$500

THE LODGE, DINING + BANQUETS, SUMMER F+B BIKEWORKS

HOA + ADMINISTRATION

-$2,000

TROUT CREEK RECREATION CENTER / AQUATICS / DAY CAMPS / RECREATION PROGRAMS

-66,085 -20,297 -21,956

2021 ACTUAL -$10,780,474

-$2,250

-148,117 -356,346 -343,495

-1,093,894 -545,569 -996,604

2022 BUDGET -$11,610,060

-$2,500

TENNIS CENTER

22,323 98,314 204,912

Net Results after Replacement Reserve Capital Charge, which is effectively a depreciation-like charge, is presented to the right.

-$2,750

-85,455 -54,010 -122,002

-$250 NEGATIVE

ARCHITECTURAL + MEMBER SERVICES

-1,797,103 -1,523,974 -1,440,623

FORESTRY, DEFENSIBLE + OPEN SPACE

-1,374,761 -1,448,195 -1,127,857

GENERAL HOMEOWNERS ASSOCIATION

$0

$250

$500

$750

$1,000

POSITIVE

TAHOE DONNER 2022 ANNUAL REPORT |

5

OPERATING FUND RESULTS

2022 DEPARTMENTAL SUMMARY 2022 OPERATING FUND GROSS REVENUE

AMOUNTS INCLUDING

OPERATING COSTS TOTAL

NET OPERATING RESULT

CONTRIBUTION TO REPLACEMENT RESERVE FUND

-1,253,709

$ 343,258

$ -539,319

2022 NET RESULTS AFTER RRF

PRIVATE AMENITIES Trout Creek Rec Center + Aquatics

$ 1,596,967

$

$

-196,061

Beach Club Marina

710,293

-536,384

173,910

-151,587

22,323

Tennis Center

497,220

-446,194

51,026

-133,481

-82,455

Recreation Programs

199,491

-258,536

-59,045

0

-59,045

Day Camps

354,797

-247,808

106,989

0

106,989

3,358,769

-2,742,631

616,138

-824,387

-208,249

Golf Course

1,641,041

-1,877,400

-236,359

-930,723

-1,167,082

Downhill Ski Resort

5,530,646

-3,664,651

1,865,995

-942,241

923,754

Cross Country Ski Center

TOTAL PRIVATE AMENITIES

PUBLIC AMENITIES

2,065,399

-1,169,088

896,311

-416,565

479,746

Snowplay

266,372

-151,383

114,989

-21,361

93,628

Campground

100,079

-104,508

-4,429

-36,347

-40,776

Equestrian Center

152,553

-344,051

-191,498

-73,022

-264,520

Trails Bikeworks The Lodge, Dining + Banquets The Lodge, Summer Lunch + Golf Food Service

87

-77,015

-76,928

-235,988

-312,916

142,527

-182,225

-39,699

-26,387

-66,086

1,894,393

-2,754,092

-859,699

-210,017

-1,069,716

279,763

-303,941

-24,178

0

-24,178

Pizza on the Hill

496,871

-669,235

-172,363

-44,266

-216,629

Alder Creek Cafe

382,229

-455,805

-73,576

-14,613

-88,189

TOTAL PUBLIC AMENITIES

12,951,960

-11,753,394

1,198,566

-2,951,530

-1,752,964

TOTAL AMENITIES

16,310,729

-14,496,025

1,814,704

-3,775,917

-1,961,213

0

-824,814

-824,814

-549,947

-1,374,761

HOMEOWNERS ASSOCIATION General HOA Architectural Standards Office

247,164

-420,118

-172,954

0

-172,954

Forestry, Defensible + Open Space

502,626

-2,029,494

-1,526,868

-270,236

-1,797,104

TOTAL HOMEOWNERS ASSOCIATION

749,790

-3,274,425

-2,524,635

-820,183

-3,344,818

300,135

-784,663

-484,528

0

-484,528

0

-631,592

-631,592

0

-631,592

AMENITY + HOA SUPPORT SERVICES Communications Facility Administration + Risk Management

158,975

-1,423,482

-1,264,507

0

-1,264,507

Information Technology

0

-807,189

-807,189

-643,463

-1,450,652

Accounting + Finance

33

-934,120

-934,087

0

-934,087

Human Resources

0

-480,723

-480,723

0

-480,723

Member Services

51,825

-332,376

-280,551

0

-280,551

0

-761,690

-761,690

-249,541

-1,011,231

510,967

-6,155,834

-5,644,867

-893,004

-6,537,871

17,571,486

-23,926,284

-6,354,798

-5,489,104

-11,843,902

Administration

Maintenance TOTAL SUPPORT SERVICES TOTAL OPERATING RESULTS Assessment Revenues

TOTAL OPERATING FUND

6 | TAHOE DONNER 2022 ANNUAL REPORT

6,120,956

0

$ 23,692,442

$ -23,926,284

$

6,120,956

0

6,120,956

-233,842

$ -5,489,104

$ -5,722,946

YEAR ENDING DECEMBER 31, 2022 REPLACEMENT RESERVE CAPITAL CONTRIBUTION 2022 PER PROPERTY 6,473

2021 PER PROPERTY 6,473

$

$

-30

2022 VS 2021 ACTUAL

$

2022 NOR VERSUS PRIOR YEAR

2022 BUDGET

2022 VS BUDGET

2022 ACTUAL

24

132,376

210,882

$ 157,276

2022 VS 2021

$

185,982

3

32

-29

249,900

-75,990

306,806

-132,896

-13

-19

6

79,470

-28,444

30,150

20,876

-9

-10

1

-35,255

-23,790

-62,410

3,365

17

11

6

83,056

23,933

69,232

37,757

-32

-40

8

509,547

106,591

501,054

115,084

-180

-155

-25

-98,664

-137,695

36,616

-272,975

143

28

115

1,372,702

493,293

1,194,550

671,444

74

57

17

432,887

463,424

686,029

210,282

14

26

-12

111,068

3,921

178,057

-63,068

-6

-5

-1

22,694

-27,123

20,150

-24,579

-41

-38

-3

-116,380

-75,118

-156,960

-34,539

-48

-66

18

-291,580

214,652

-174,403

97,475

-10

-3

-7

6,093

-45,792

-17,118

-22,581

-165

-153

-12

-299,769

-559,930

-640,332

-219,367

-4

-2

-2

-35,790

11,612

-9,840

-14,338

-33

-27

-6

-6,893

-165,470

-135,129

-37,235

-14

-19

5

-38,690

-34,886

-111,780

38,204

-271

-357

86

1,057,678

140,888

869,841

328,725

-303

-397

94

1,567,225

247,479

1,370,895

443,810

-212

-174

-38

-687,528

-137,286

-554,328

-270,486

-27

-19

-8

-203,132

30,178

-122,055

-50,899

-278

-223

-55

-1,253,737

-273,131

-1,252,545

-274,322

-517

-416

-101

-2,144,397

-380,238

-1,928,928

-595,707

-75

-76

0

-522,737

38,209

-488,837

4,309

-98

-61

0

-604,014

-27,578

-384,101

-247,491

-195

-195

0

-978,304

-286,203

-1,260,249

-4,258

-224

-133

0

-830,810

23,622

-703,080

-104,108

-144

-128

0

-907,701

-26,386

-827,649

-106,438

-74

-71

0

-472,957

-7,766

-458,120

-22,603

-43

-46

0

-367,087

86,536

-300,589

20,038

-156

-143

0

-860,174

98,484

-616,237

-145,453

-1,010

-853

0

-5,543,784

-101,083

-5,038,862

-606,005

-820

-813

-7

-6,120,956

-233,842

-5,596,895

-757,903

996

-50

6,120,956

0

183

$ -57

0

-233,842

946 $

-54

2022 NOR VERSUS BUDGET

126

$

$

6,447,108

-326,152

850,213

$ -1,084,055

SEE PAGES 8-9 FOR RESULTS BY DEPARTMENT HIGHLIGHTS TAHOE DONNER 2022 ANNUAL REPORT |

7

OPERATING FUND RESULTS

2022 HIGHLIGHTS VERSUS BUDGET FAVORABLE VARIANCE TO BUDGET

UNFAVORABLE VARIANCE TO BUDGET

NOR = Net Operating Results. NOR is defined as the net result of operating revenues less cost of goods sold, operating payroll and expenses and any overhead allocation.

PUBLIC AMENITIES DOWNHILL SKI RESORT

THE LODGE

SNOWPLAY

NOR $ 1,865,995

NOR LOSS ($859,699)

NOR $114,989

FAVORABLE $493,293 / 36% TO BUDGET

UNFAVORABLE -$559,930 / -187% TO BUDGET

FAVORABLE $3,921 / 4% TO BUDGET

Bluebird conditions from January through March resulted in strong visitation. Revenue was 18% better than Budget during this period. Expenses were -10% unfavorable to Budget mostly due to payroll, credit card costs due to higher revenues, employee housing and utilities.

Overall revenue was -7% unfavorable to Budget because of lower-than-expected banquet revenues. The first five months of 2022 were underbudgeted in seasonal labor.

Linen costs were 91% greater than Budget.

There were also sigificant increases in natural gas costs in 2022.

Lack of snow coverage and early closure in March 2022 led to revenue coming in short of Budget, but also reduced operating costs.

NOR was 4% favorable to Budget for the year.

TRAILS

PIZZA ON THE HILL

NOR LOSS ($76,928)

NOR LOSS ($172,363)

FAVORABLE $214,652 / 74% TO BUDGET

UNFAVORABLE -$165,470 / -2,401% TO BUDGET

Savings of $205,000 in payroll expenses were due to an inability to fill seasonal positions and the vacant trails manager position for the first half of 2022.

Operating costs, employee training and developing the right business model since reopening in 2022 created significant variance to Budget. Financial performance in the first quarter of 2023 is a vast improvement, and lessons learned in the year prior are paying off.

GOLF COURSE NOR ($236,359) UNFAVORABLE -$137,695 / -140% TO BUDGET Revenues were 8% favorable to Budget.

Seasonal wages were unfavorable and 20% greater than Budget due to regional competition for labor, which resulted in higher-than-expected hourly rates. Utilities were unfavorable to Budget.

BIKEWORKS NOR LOSS ($39,699) UNFAVORABLE -$45,792 / -752% TO BUDGET Bike rental revenues were -35% unfavorable to Budget, though retail sales were strong.

For the year, labor and utilities expenses were unfavorable to Budget.

8 | TAHOE DONNER 2022 ANNUAL REPORT

EQUESTRIAN CENTER NOR LOSS ($191,498) UNFAVORABLE -$75,118 / -65% TO BUDGET Revenue was favorable to Budget by 6%.

Significant increases in feed, veterinary and labor costs in 2022 were -31% unfavorable to Budget.

SUMMER F+B NOR LOSS ($24,178) FAVORABLE $11,612 / 32% TO BUDGET

CAMPGROUND NOR ($4,429) UNFAVORABLE -$27,123 / -120% TO BUDGET Unseasonably cool weather from late May through June resulted in a reduction in reservations, which led to unfavorable revenue to Budget of -15% during this period. Utility expenses were greater than Budget for the year.

CROSS COUNTRY SKI CENTER NOR $896,311 FAVORABLE $463,424 / 107% TO BUDGET Record season pass sales and strong visitation numbers due to very favorable weather conditions contributed to strong results. There were operating expense savings of $9,000 in utilities and $23,000 in snowcat maintenance due to the low-snowfall season.

Despite unseasonably cool weather in May and June, revenues were 10% favorable to Budget while expenses were -5% due to increases in labor costs.

ALDER CREEK CAFE NOR LOSS ($73,576) UNFAVORABLE -$34,886 / -90% TO BUDGET Revenues were better than Budget primarily due to high visitation at the Cross Country Ski Center from January through March. Food costs were 1% greater than Budget, while hourly labor was -$82,000 unfavorable to Budget.

PRIVATE AMENITIES

SUPPORT SERVICES

TROUT CREEK REC CENTER + AQUATICS

I.T., FINANCE + HUMAN RESOURCES

NOR $343,258

NOR LOSS ($2,221,999)

FAVORABLE $210,882 / 159% TO BUDGET

UNFAVORABLE -$10,531 / 0% TO BUDGET

TROUT CREEK REC CENTER: NOR favorable to Budget by $193,000 due to higher-than-anticipated Recreation Fee revenue and visitation.

Salaries and wages were -$5,000 unfavorable to Budget due to increases in health insurance costs and despite operating costs savings.

AQUATICS: NOR favorable to Budget by $18,000 due to savings on seasonal labor and strong Aquatics Camps revenue.

BEACH CLUB MARINA NOR $173,910 UNFAVORABLE -$75,990 / -30% TO BUDGET Unseasonably cool weather from late May through June resulted in revenues that were -2% unfavorable to Budget during this time. Labor costs were -17% unfavorable to budget.

ARCHITECTURAL STANDARDS OFFICE NOR LOSS ($172,954) FAVORABLE $30,178 / 15% TO BUDGET Revenue was unfavorable to Budget by -$7,000, or -3%. There were payroll savings of $51,000 with vacancies of the ASO manager positions and other hourly positions.

FORESTRY TENNIS CENTER NOR $51,026 UNFAVORABLE -$28,444 / -36% TO BUDGET Strong revenue offset by higher-than-expected seasonal labor costs and instructor commissions.

RECREATION PROGRAMS NOR LOSS ($59,045) UNFAVORABLE -$23,790 / -67% TO BUDGET Event revenue was $13,000, or 7% favorable to Budget. Salaries and wages were unfavorable to Budget by -$14,000. Supplies and maintenance were -$20,000 unfavorable to Budget.

NOR LOSS ($1,526,868) UNFAVORABLE -$273,131 / -22% TO BUDGET CAL FIRE grant recorded as revenue with expenses offset to defensible space. Salaries and wages were -$66,000, or -9%, unfavorable to Budget.

Utility expenses were -$22,000 unfavorable to Budget.

COMMUNICATIONS NOR LOSS ($484,528) FAVORABLE $38,209 / 7% TO BUDGET Advertising revenue increased $10,000, or 4% to Budget. Savings in salaries and wages due to vacant communications manager and hourly positions. Printing costs were -$39,000 unfavorable to Budget due to paper shortages.

DAY CAMPS NOR $106,989 TREVOR CLARK

FAVORABLE $23,933 / 29% TO BUDGET Sold-out Summer Camps resulted in $2,000 in revenue, which was 1% better than Budget. Operating expenses were $22,000, or 8% favorable to Budget.

TAHOE DONNER 2022 ANNUAL REPORT |

9

CAPITAL RESERVES

REPLACEMENT RESERVE FUND REPLACEMENT RESERVE FUND

MEMBERS’ EQUITY(FUND (YEAR-END FUND BALANCE) + PERCENT FUNDED MEMBERS EQUITY BALANCE) AND PERCENT FUNDED 45% 38%

$16,000,000 $14,000,000

25%

$10,000,000 $8,000,000

36%

33%

$12,000,000

19%

26%

38%

35%

32% 29%

28%

40%

30% 25%

19%

20%

$6,000,000

15%

$4,000,000

10%

$2,000,000

5%

$0

2012

2013

2014

2015

2016

• The Replacement Reserve Fund is the capital reserve fund for existing asset components of the Association. This savings fund is utilized to replace and preserve assets of the Association as they depreciate over time. There are over 2,000 components in the reserve study, which is updated every year. A complete physical inspection of all components is performed every three years.

• The Association has a Replacement Reserve Fund policy that provides for a target minimum of 25% funded.* • The reserve study does not include the replacement of existing buildings. Funding for the replacement of existing buildings comes from the Development Fund, seen below.

2017

2018

2019

2020

2021

2022

PERCENT FUNDED*

YEAR-END MEMBERS’ EQUITY BALANCE

$18,000,000

0%

• The funding level from the Annual Assessment generally needs to increase each year to keep pace with, or exceed, the inflation rate.

• The Association has a fiduciary duty to adequately reserve for the preservation of assets, which ultimately protects property values.

• The 2022 assessment funding level was $848 per owner, or $5,489,104, an increase of 6% over 2021.

• The 2023 assessment funding level was $865 per owner, or $5,599,145, an increase of 2% over 2022. *Percent (%) Funded is the measure of the current fund balance to the current value of all future replacement costs from the Reserve Study (refer to the 2023 Budget Report for more information on the Reserve Schedule).

DEVELOPMENT FUND

DEVELOPMENT FUND MEMBERS’ EQUITY (YEAR-END FUND BALANCE) MEMBERS EQUITY (FUND BALANCE) $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $0

2012

2013

2014

2015

2016

• The Development Fund was established as authorized in the governing documents of the Association to accumulate funds for large-scale projects identified as necessary due to the new capacity requirements or changing needs of the Association.

• The Board, Long-Range Planning Committee and management guide the prioritization of the numerous projects identified for Development Fund expenditure. The list of projects is actively updated through input from

10 | TAHOE DONNER 2022 ANNUAL REPORT

2017

2018

2019

2020

2021

2022

open member meetings and articles shared online at tahoedonner.com and in the Tahoe Donner News magazine.

• The 2022 assessment funding level was $555 per owner, or $3,592,515, an increase of 25% over 2021.

• The 2023 assessment funding level was $694 per owner, or $4,492,262, an increase of 25% over 2022.

CAPITAL EXPENDITURES

CAPITAL CAPITALFUNDS FUNDS EXPENDITURES BYBY YEAR EXPENDITURES YEAR

10 YEARTOTAL TOTAL==$50.9 $50.9MILLION MILLION 10-YEAR

$9,000,000 $8,000,000 $7,000,000 $6,000,000

6.6M 6.1M 5.4M

5.4M

5.3M

5.3M

$5,000,000

4.1M

$4,000,000

4.7M

4.2M

3.9M

$3,000,000 $2,000,000 $1,000,000 $0

2013

2014

2015

2016

REPLACEMENT RESERVE FUND

Ten-year total spend of $50.9 million equates to an average of $5.09 million in Capital Fund expenditures per year. The 10-year average depreciation expense is $2.9 million per year for a total of $29.0 million. Note that many older assets are fully depreciated and have no annual depreciation expense.

The net effect is a growth in net fixed assets.

Over the 10 years, the CAGR was 3.2% for net fixed assets.

Net fixed assets grew from $33.0 million at the end of 2012 to $45.2 million at the end of 2022. Your Association has invested in fixed assets to improve member enjoyment and protect home values.

THE BOARD HAS A FIDUCIARY

RESPONSIBILITY (BY LAW) TO DO WHAT IS BEST FOR THE ASSOCIATION, BOTH

NOW AND FOR THE FUTURE. CURRENT OWNERS HAVE THE RESPONSIBILITY TO PAY FOR THE DEPRECIATION OF

ASSOCIATION ASSETS, NOT TO DEFER THE BURDEN TO FUTURE OWNERS. PROPERLY MAINTAINING OUR ASSETS PROTECTS OWNERS’ PROPERTY VALUES.

2017

2018

2019

DEVELOPMENT FUND

2020

2021

2022

NEW MACHINERY + EQUIPMENT FUND

CAPITAL INVESTMENT OVER THE 10 YEARS INCLUDES:

$33.9 million in replacement and major repairs of existing assets (per reserve study plan) $3.4 million per year with 10-year average, maintaining existing asset components (depreciation average is $2.7 million)

$2.6 million per year for first 5 years average, maintaining existing asset components $4.2 million per year for second 5 years average, maintaining existing asset components The increase from 2013-2017 average to the 2018-2022 average is due to the overall aging of assets, the impact of Development Fund projects on related reserve components, the 2018 replacement of Snowbird Chairlift for $1.4 million, as well as the Downhill Ski Resort lodge and Cross Country Ski Center snowmaking investments.

$15.5 million in Development Fund capital investments, including: Alder Creek Adventure Center building (2014-2015) Downhill Ski Resort snowmaking investment (2015) Solar projects at three locations (2015-2016) Equestrian campus relocation and upgrades (2015-2017) Crabtree Canyon land – 640 acres (2016) Alder Creek Adventure Center exterior storage building (2017) Equestrian campus improvements, Eagle Rock Chairlift building improvements (2018) Trout Creek Recreation Center building expansion (2019-2020) Bermgarten Trailhead paving (2020) Downhill Ski Lodge professional services, Cross Country Ski Center snowmaking investment (2021-2022)

$1.4 million in New Machinery + Equipment Fund capital investments $140,000 per-year average

TAHOE DONNER 2022 ANNUAL REPORT |

11

CAPITAL FUNDS REPLACEMENT RESERVE FUND

38% FUNDED The ratio of the Replacement Reserve Fund balance as of December 31, 2022 and the Replacement Reserve Components current replacement cost estimate (100% Funded Allocation Method) for December 31, 2022.

See page 10 for by-year trends.

$4.5 MILLION | 2022 Expenditures • $443,000 GOLF OPERATIONS golf carts • $388,000 CROSS COUNTRY SKI CENTER grooming machine • $361,000 DOWNHILL SKI RESORT grooming machine • $180,000 MAINTENANCE snowblower machine • $137,000 DOWNHILL SKI RESORT shuttle bus The Replacement Reserve Fund is used to account for financial resources designated for the repair, restoration, replacement or maintenance of, or litigation involving the repair, restoration, replacement or maintenance of major components that the Association is obligated by state law and sound business practices to repair, restore, replace or maintain. A 30-year reserve funding and expenditure plan is produced every three years, and updated annually, to schedule and analyze the funding and expenditure needs. Over 2,000 individual items are tracked in this plan, with a current replacement value of $65 million.

In 2022, a Reserve Study took place, led by our Reserve Specialist and staff. The study reviews all the major common area components and provides an update on their estimated remaining useful life and replacement value.

The year-end fund balance increased by $1.3 million, or 8.6%, from 2021. The balance fluctuates each year due to the funding level from assessment and transfers, if any, as well as expenditures each year, in accordance with the 30-year reserve study.

12 | TAHOE DONNER 2022 ANNUAL REPORT

DEVELOPMENT FUND $2.1 MILLION | 2022 Expenditures • $881,000 DOWNHILL SKI RESORT lodge replacement project soft costs • $271,000 CROSS COUNTRY SKI CENTER snowmaking project phase 1 • $287,000 TRAILS trailhead boardwalk and trail realignment • $50,000 SNOWPLAY snowmaking project phase 2 The Development Fund was established and authorized in the governing documents of the Association to accumulate funds for use in the development of facilities identified by the Board as necessary due to new capacity requirements of the Association or changing needs of the community.

The Development Fund includes funds accumulated for the specific purpose of replacing existing buildings, as only certain components of buildings are in the Replacement Reserve study.

The assessment contribution for 2022 was $3,592,515, or $555 per owner, reflecting a 25% increase from 2021. The year-end fund balance decreased slightly by $81,000, or 0.6%. Savings in this fund are primarily for the replacement of the aging (50-year-old) Downhill Ski Resort lodge, workforce housing feasibility study/project and trail and trailhead projects.

In 2022, we budgeted a $350,000 operating surplus transfer to the Development Fund.

Given the increase in operating costs, this transfer did not occur.

Factoring in the 2022 Operating Fund deficit, the association still retains a $616,000 surplus of the $850,000 budget surplus generated in 2021.

NEW MACHINERY + EQUIPMENT FUND $42,000 | 2022 Expenditures • $11,000 INFORMATION TECHNOLOGY miscellaneous equipment • $6,000 FOOD AND BEVERAGE 40-foot storage container • $6,000 TENNIS CENTER ball machine • $5,000 CROSS COUNTRY SKI CENTER snowmaking tools The New Machinery + Equipment Fund is used to account for financial resources designated for the acquisition of new assets identified as necessary for the Association to operate more efficiently or provide new services to members.

There was no assessment contribution for 2022. The year-end fund balance of $260,000 decreased by -$39,000, or -12%, compared to 2021.

PROPERTY FUND The Property Fund is used to account for the Association’s investment in its fixed assets.

Capital additions to fixed assets totaled $5.4 million ($3.9 million in 2021).

Depreciation expense for the year totaled $2.9 million ($3.0 million in 2021).

Total gross fixed asset value of $91.4 million equates to $14,124 per owner and net book value of fixed assets and construction in progress of $45.2 million equates to $6,983 per owner (an increase of $324 from 2021).

CAPITAL FUNDS SUMMARY YEAR ENDING DECEMBER 31, 2022

2022 ACTUAL

2022 BUDGET

2022 ACTUAL VS 2022 BUDGET

Beginning Fund Balance

$ 14,797,809

$ 13,625,446

$ 1,172,363

Assessment Contribution

5,489,104

5,489,104

-

5,184,873

304,231

210,108

160,000

50,108

115,267

94,841 -

2021 ACTUAL

2022 ACTUAL VS 2021 ACTUAL

REPLACEMENT RESERVE FUND

Interest Revenue

$

13,128,074

$

1,669,735

-

-

-

-

38,921

-188,634

227,555

45,425

-6,504

Major Maintenance + Fund Expenses

-964,856

-1,190,960

226,104

-942,969

-21,887

Expenditures for Capital Additions

-3,495,601

-4,933,636

1,438,035

-2,732,862

-762,739

1,277,676

-664,126

1,941,802

1,669,734

-392,058

$ 16,075,483

$ 12,961,320

$ 3,114,165

$ 14,797,808

$ 1,277,677

Operating Fund Transfer In Other Revenue + Expense, Net

Change in Fund Balance ENDING FUND BALANCE

NEW MACHINERY + EQUIPMENT FUND Beginning Fund Balance

298,521

294,236

4,285

354,656

-56,135

Assessment Contribution

-

-

-

-

-

Interest Revenue

3,321

110

3,211

42

3,279

Other Revenue + Expense, Net

-229

-

-229

-

-229

-

-

-

-

-

-42,109

-140,500

98,391

-56,178

14,069

-39,017

-140,390

101,373

-56,136

17,119

Major Maintenance + Fund Expenses Expenditures for Capital Additions Change in Fund Balance ENDING FUND BALANCE

$

259,504

$

153,846

$

105,658

$

298,520

$

-39,016

DEVELOPMENT FUND Beginning Fund Balance

11,031,781

10,011,237

1,020,544

8,643,940

2,387,841

Assessment Contribution

3,592,515

3,592,515

-

2,874,012

718,503

186,477

93,000

93,477

59,310

127,167

-

350,000

-350,000

696,534

-696,534

Interest Revenue Operating Surplus Transfer In Other Revenue + Expense, Net Fund Expenses Expenditures for Capital Additions Change in Fund Balance ENDING FUND BALANCE

-7,041

-14,000

6,959

-5,086

-1,955

-192,514

-117,083

-75,431

-125,024

-67,490

-1,885,700

-1,109,527

-776,173

-1,111,902

-773,798

1,693,737

2,794,905

-1,101,168

2,387,844

-694,107

$ 12,725,517

$ 12,806,142

-80,624

$ 11,031,784

$ 1,693,734

$

CAPITAL FUND TOTALS SEE PAGE 26 FOR SCHEDULE OF SPEND BY DEPARTMENT Major Maintenance + Fund Expenses

-964,856

-1,190,960

226,104

-1,067,993

103,137

Expenditures for Capital Additions

-5,423,410

-6,183,663

760,253

-3,900,942

-1,522,468

$ -6,388,266

$ -7,374,623

986,357

$ -4,968,935

$ -1,419,331

TOTAL

$

The variance between Actual and Budget capital expenditures is primarily driven by the timing of projects between years, weather delays, contractor availability and deferrals due to COVID-19.

The Board has a fiduciary responsibility (by law) to do what is best for the Association both now and for the future.

Current owners have the responsibility to pay for the depreciation of Association assets, not defer the burden to future owners. Properly maintaining our assets protects owners’ property values.

TAHOE DONNER 2022 ANNUAL REPORT |

13

INDEPENDENT AUDITORS’ REPORT TO THE BOARD OF DIRECTORS TAHOE DONNER ASSOCIATION

OPINION We have audited the accompanying financial statements of Tahoe Donner Association, which comprise the balance sheet as of December 31, 2022, and the related statements of revenues and expenses and changes in fund balances and cash flows for the year then ended, and the related notes to the financial statements.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Tahoe Donner Association as of December 31, 2022, and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.

BASIS FOR OPINION We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Tahoe Donner Association and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

RESPONSIBILITIES OF MANAGEMENT FOR THE FINANCIAL STATEMENTS Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about Tahoe Donner Association’s ability to continue as a going concern within one year after the date that the financial statements are available to be issued.

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements, including omissions, are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with generally accepted auditing standards, we: • Exercise professional judgment and maintain professional skepticism throughout the audit.

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include

14 | TAHOE DONNER 2022 ANNUAL REPORT

examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Tahoe Donner Association’s internal control.

Accordingly, no such opinion is expressed.

• Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about Tahoe Donner Association’s ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

DISCLAIMER OF OPINION ON REQUIRED SUPPLEMENTARY INFORMATION Accounting principles generally accepted in the United States of America require that Required Supplementary Information on Future Major Repairs and Replacements on page 27 be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Financial Accounting Standards Board, which considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

OTHER INFORMATION The information included on pages 24-26 is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information has been subjected to the audit procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.

COMPARATIVE INFORMATION Information for the year ended December 31, 2021 is presented for comparative purposes only and was extracted from the financial statements presented for that year, on which we expressed an unmodified opinion on our report dated April 13, 2022.

McCLINTOCK ACCOUNTANCY CORPORATION TAHOE CITY, CALIFORNIA APRIL 14, 2023

Exhibit A

TAHOE DONNER ASSOCIATION BALANCE SHEET

FOR THE YEAR ENDED DECEMBER 31, 2022 (WITH COMPARATIVE TOTALS FOR 2021)

OPERATING FUND

REPLACEMENT RESERVE FUND

NEW DEVELOPMENT EQUIPMENT FUND FUND

PROPERTY FUND

$

$

TOTAL 2022

TOTAL 2021

-0-

$ 8,481,306

$ 8,575,802

ASSETS Cash and cash equivalents, unrestricted (Note 4)

$ 8,481,306

$

-0-

-0-

$

-0-

Cash and cash equivalents, designated and restricted (Note 4)

210,005

606,423

269,669

243,047

-0-

1,329,144

20,031,519

2,230,403

-0-

-0-

-0-

-0-

2,230,403

499,989

-0-

16,298,003

-0-

12,546,690

-0-

28,844,693

6,758,585

10,921,714

16,904,426

269,669

12,789,737

-0-

40,885,546

35,865,895

235,223

288,547

Investments, unrestricted (Note 4) Investments, designated and restricted (Note 4)

Assessments and other member receivables, less allowance for doubtful accounts of $158,049 in 2022 and $104,373 in 2021

235,223

-0-

-0-

-0-

-0-

Other receivables

372,999

47,233

-0-

61,250

-0-

481,481

124,108

Inventory

422,559

-0-

-0-

-0-

-0-

422,559

342,115

Prepaid expenses and other assets

1,595,790

36,667

-0-

-0-

-0-

1,632,457

1,463,241

Due from (to) other funds

1,048,477

(912,842)

(10,165)

(125,470)

-0-

-0-

-0-

-0-

-0-

-0-

-0-

45,199,170

45,199,170

43,098,937

Property and equipment, net (Note 5)

TOTAL ASSETS

$ 14,596,762 $ 16,075,483

$

259,504 $ 12,725,517

$ 45,199,170 $ 88,856,436 $ 81,182,843

LIABILITIES AND FUND BALANCES Liabilities Accounts payable

886,688 $

-0-

Accrued liabilities

-0- $

-0-

1,973,372

Deferred revenue

8,483,279

-0-

-0-

-0-

-0-

1,973,372

1,260,186

-0-

-0-

-0-

-0-

8,483,279

6,613,883

Deposits from members

394,600

-0-

-0-

-0-

-0-

394,600

392,760

TOTAL LIABILITIES

11,737,939

-0-

-0-

-0-

-0-

11,737,939

8,863,127

Fund Balances - Exhibit B

2,858,823

16,075,483

259,504

12,725,517

45,199,170

77,118,497

72,319,716

TOTAL LIABILITIES AND FUND BALANCES

$

$ 14,596,762 $ 16,075,483

$

$

259,504 $ 12,725,517

$

-0- $

886,688 $

596,298

$ 45,199,170 $ 88,856,436 $ 81,182,843

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS. TAHOE DONNER 2022 ANNUAL REPORT |

15

Exhibit B

TAHOE DONNER ASSOCIATION

STATEMENTS OF REVENUE AND EXPENSES AND CHANGES IN FUND BALANCES

FOR THE YEAR ENDED DECEMBER 31, 2022 (WITH COMPARATIVE TOTALS FOR 2021) OPERATING FUND

REVENUE

Members' assessments Downhill ski Snowplay The Lodge and Summer F&B Cross country center Trout Creek recreation center and aquatics Marina Golf course Alder Creek Cafe Pizza on the Hill Tennis Day Camps Equestrian Recreation Campground Bikeworks Trails Communications Architectural standards Forestry Interest income Late charges, handling, transfer fees, and other fees Miscellaneous income TOTAL REVENUE

$

6,120,956 5,530,646 266,372 2,174,156 2,065,399 1,596,967 710,293 1,641,041 382,229 496,871 497,220 354,797 152,553 199,491 100,079 142,527 87 300,135 247,164 502,626 26,835 101,028 82,970 23,692,442

REPLACEMENT RESERVE FUND $

NEW EQUIPMENT FUND

5,489,104 -0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0210,108 -0-05,699,212

$

-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-03,321 -0-03,321

DEVELOPMENT FUND

$

3,592,515 -0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0186,477 -0-03,778,992

PROPERTY FUND

$

-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-

TOTAL 2022

$

15,202,575 5,530,646 266,372 2,174,156 2,065,399 1,596,967 710,293 1,641,041 382,229 496,871 497,220 354,797 152,553 199,491 100,079 142,527 87 300,135 247,164 502,626 426,741 101,028 82,970 33,173,967

TOTAL 2021

$

14,505,993 3,731,124 311,594 1,851,959 1,590,310 1,250,858 748,130 1,536,980 197,118 19,240 402,909 309,645 140,341 32,206 116,461 143,339 396 267,066 283,675 141,248 177,184 114,055 56,952 27,928,783

OPERATING EXPENSES

Downhill ski (cost of sales of $209,195 in 2022 and $111,714 in 2021) Snowplay (cost of sales of $458 in 2022 and $685 in 2021) The Lodge and Summer F&B (cost of sales of $762,762 in 2022 and $611,957 in 2021) Cross country center (cost of sales of $127,981 in 2022 and $103,497 in 2021) Trout Creek recreation center and aquatics (cost of sales of $20,492 in 2022 and $17,348 in 2021) Marina (cost of sales of $73,455 in 2022 and $54,585 in 2021) Golf course (cost of sales of $85,288 in 2022 and $57,805 in 2022) Alder Creek Cafe (cost of sales of $122,389 in 2022 and $66,181 in 2021) Pizza on the Hill (cost of sales of $159,540 in 2022 and $18,592 in 2021) Tennis (cost of sales of $32,450 in 2022 and $28,830 in 2021) Day Camps Equestrian (cost of sales of $1,242 in 2022 and $1,165 in 2022) Recreation (cost of sales of $2,149 in 2022 and $1,107 in 2021) Campground Bikeworks (cost of sales of $39,461 in 2022 and $30,592 in 2021) Trails Communications Architectural standards Forestry Homeowners’ association operating expenses and G&A TOTAL OPERATING EXPENSES

3,664,651 151,383

2,860 -0-

-0-0-

-0-0-

-0-0-

3,667,511 151,383

2,567,926 133,537

3,058,033

12,203

-0-

-0-

-0-

3,070,236

2,502,131

1,169,088

56,786

-0-

-0-

-0-

1,225,874

944,035

1,253,709 536,384

57,001 25,834

-0-0-

-0-0-

-0-0-

1,310,710 562,218

1,114,709 452,463

1,877,400

72,152

-0-

-0-

-0-

1,949,552

1,549,156

455,805

-0-

-0-

-0-

-0-

455,805

308,898

669,235 446,194 247,807 344,051 258,536 104,508 182,225 77,015 784,663 420,118 2,029,494 6,168,150 23,898,448

-09,636 -0-0-0-0-012,524 -011,400 101,988 599,177 961,561

-0-0-0-0-0-0-0-0-0-0-0-0-0-

-0-0-0-0-0-0-0-0-0-0-0190,284 190,284

-0-0-0-0-0-0-0-0-0-0-0-0-0-

669,235 455,830 247,807 344,051 258,536 104,508 182,225 89,539 784,663 431,518 2,131,482 6,957,611 25,050,293

177,190 387,609 240,413 300,697 94,616 111,261 160,457 175,094 755,903 405,730 1,536,664 5,982,486 19,900,975

-0-027,836 23,926,284

(47,554) -011,930 925,937

-0-0229 229

-0-09,272 199,556

822 3,322,358 -03,323,180

(46,732) 3,322,358 49,267 28,375,186

(53,644) 3,176,324 31,653 23,055,308

3,579,436

$ (3,323,180)

FUND EXPENSES (Gain) Loss on disposal of assets Depreciation Income tax provision (Note 6) TOTAL EXPENSES REVENUE OVER (UNDER) EXPENSES

$

PROPERTY FUND ADDITIONS, NET (SCHEDULE 2) FUND BALANCES, BEGINNING OF YEAR FUND BALANCES, END OF YEAR

16 | TAHOE DONNER 2022 ANNUAL REPORT

$

(233,842)

$

4,773,275

$

3,092

$

$

4,798,781

$

4,873,475

-0-

(3,495,601)

(42,109)

(1,885,700)

5,423,410

-0-

-0-

3,092,665

14,797,809

298,521

11,031,781

43,098,940

72,319,716

67,446,241

2,858,823

$ 16,075,483

12,725,517

$ 45,199,170

$ 77,118,497

$ 72,319,716

$

259,504

$

Exhibit C

TAHOE DONNER ASSOCIATION STATEMENTS OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2022 (WITH COMPARATIVE TOTALS FOR 2021) OPERATING FUND

CASH FLOWS FROM OPERATING ACTIVITIES Operating Revenue Over Expenses Replacement Revenue Over Expenses Non-Operating Funds Revenue Over (Under) Expenses Revenue Over (Under) Expenses Adjustments to Reconcile Operating/Replacement Revenue Over (Under) Expenses to Net Cash Provided (Used) by Operating Activities: Property fund additions, net Bad debt expense Depreciation expense (Gain)/Loss on disposal of assets Investment amortization Changes in: Assessments receivable Other receivables Inventory Prepaid expenses and other assets Due to/from other funds Accounts payable Accrued liabilities Deferred revenue Deposits NET CASH PROVIDED BY OPERATING ACTIVITIES

$

(233,842) -0-0(233,842)

REPLACEMENT RESERVE FUND $

-04,773,275 -04,773,275

NEW EQUIPMENT FUND $

-0-03,092 3,092

DEVELOPMENT FUND

$

-0-03,579,436 3,579,436

PROPERTY FUND

$

-0-0(3,323,180) (3,323,180)

TOTAL 2022

$

TOTAL 2021

(233,842) 4,773,275 259,348 4,798,782

$

850,215 4,402,596 (379,336) 4,873,475

5,423,410 28,043 -0-0(13,532)

(3,495,601) 3,297 -0(47,554) 37,414

(42,109) -0-0-0-0-

(1,885,700) 2,231 -0-033,890

-0-03,322,358 822 -0-

-033,571 3,322,358 (46,732) 57,772

-033,200 3,176,324 (53,644) 63,727

25,281 (305,050) (80,444) (177,128) (529,601) 290,390 713,186 1,869,396 1,840 7,011,949

(3,297) (9,376) -05,855 1,248 -0-0-0-01,265,262

-0-0-0-0(7,138) -0-0-0-0(46,155)

(2,231) (42,947) -02,056 535,491 -0-0-0-02,222,226

-0-0-0-0-0-0-0-0-0-0-

19,753 (357,372) (80,444) (169,217) -0290,390 713,186 1,869,396 1,840 10,453,282

(75,741) (99,960) (20,148) (188,371) -0398,925 150,184 (70,280) 84,609 8,272,300

(5,423,410) -0(2,216,871) 499,989 (7,140,292)

-047,554 (22,415,887) 10,691,000 (11,677,333)

-0-0-0-0-0-

-0-0(21,302,528) 10,870,000 (10,432,528)

-0-0-0-0-0-

(5,423,410) 47,554 (45,935,286) 22,060,989 (29,250,153)

(3,922,939) 59,910 (31,683,772) 47,885,510 12,338,709

NET INCREASE (DECREASE) IN CASH AND (128,343) CASH EQUIVALENTS 8,819,654 CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR CASH AND CASH EQUIVALENTS, END OF YEAR (NOTE 4) $ 8,691,311

(10,412,071) 11,018,494 $ 606,423

$

(46,155) 315,824 269,669

(8,210,302) 8,453,349 $ 243,047

$

-0-0-0-

(18,796,871) 28,607,321 $ 9,810,450

20,611,009 7,996,312 $ 28,607,321

$

$

$

$

$ $

8,481,306 1,329,144 9,810,450

$

$

-0269,669 269,669

$

-0-

$

20,000

CASH FLOWS FROM INVESTING ACTIVITIES Acquisition of property and equipment Proceeds from sale of property and equipment Purchase of investments Maturity or redemption of investments NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES

ANALYSIS OF CASH AND CASH EQUIVALENTS Cash and cash equivalents, unrestricted Cash and cash equivalents, designated and restricted CASH AND CASH EQUIVALENTS, END OF YEAR (NOTE 4)

SUPPLEMENTAL DISCLOSURE Income taxes paid

$ 8,481,306 210,005 $ 8,691,311

$

-0606,423 606,423

$

$

-0-

20,000

$

-0243,047 243,047

$

-0-0-0-

$

-0-

$

-0-

8,575,802 20,031,519 $ 28,607,321

$

55,000

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS. TAHOE DONNER 2022 ANNUAL REPORT |

17

NOTES TO FINANCIAL STATEMENTS 1

OPERATIONS

Tahoe Donner Association (Association) is a California nonprofit mutual benefit corporation. The Association’s members own the 6,473 membership properties within the Tahoe Donner subdivision in Truckee, California. The Association was organized to provide management services and maintenance of certain common areas owned by the Association. A significant portion of revenue is derived from the assessment of member dues.

The Association operates and maintains facilities, which include a golf course and pro shop, restaurant, downhill ski area, clubhouse, Nordic ski area, beach and marina area, equestrian center, campground, tennis facilities, recreation complex, pools and parks.

Revenues are derived from member and non-member usage of these facilities.

The Association’s Board of Directors is comprised of five members elected to serve three-year terms by a vote of the members. The Board of Directors governs in accordance with the Association’s bylaws and declaration of covenants and restrictions. The Board of Directors establishes members’ dues and user fees, and has the ability to enter into long-term contracts. Along with other actions, closing an Association amenity (as defined by the governing documents) requires a vote of the members.

2

SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION – The Association’s governing documents provide certain guidelines for governing its financial activities. To ensure observance of limitations and restrictions on the use of financial resources, the Association maintains its accounts using fund accounting. Financial resources are classified for accounting and reporting purposes in the following funds established according to their nature and purpose: OPERATING FUND – Used to account for financial resources available for the general operations of the Association.

REPLACEMENT RESERVE FUND – Used to account for financial resources designated for the repair, restoration, replacement or maintenance of, or litigation involving repair, restoration, replacement or maintenance of, major components which the Association is obligated to repair, restore, replace or maintain and for which the Replacement Reserve Fund was established.

NEW EQUIPMENT FUND – Used to account for financial resources designated for the purchase of new machinery, equipment, furnishings and fixtures.

DEVELOPMENT FUND – Used to account for financial resources designated for use in the acquisition and enhancement of facilities, equipment and other resources.

PROPERTY FUND – Used to account for the Association’s investment in its common property and equipment, and other Association real property.

18 | TAHOE DONNER 2022 ANNUAL REPORT

ASSESSMENT REVENUE – Association members are subject to annual assessments to provide funds for the Association’s operating expenses, major repairs and replacements, development and purchase of new equipment. Accounts receivable at the balance sheet date primarily represents amounts due from unit owners.

The Association’s collection policy includes, among other things, assessing a late charge and interest, filing a lien, and assessing a lien fee on payments not received within the allowable time periods.

In certain instances, foreclosure may be necessary. An allowance for doubtful accounts is created when an account’s collectability is uncertain. Accounts are written off when the Association’s management determines that an account is uncollectible due to an event such as bankruptcy or foreclosure proceedings.

REVENUE RECOGNITION – The Association’s accounting policies with regards to revenue from contracts with customers are discussed in Note 3, Revenues.

CASH consists of cash on hand, demand deposits at banks and money market funds.

The Association minimizes credit risk associated with cash by periodically evaluating the credit quality of its primary financial institution. At times, the balance may exceed federally insured limits. As of December 31, 2022 and 2021, cash balances exceeded federally insured limits by approximately $7,815,000 and $3,428,000, respectively. The Association has not experienced any losses in such accounts and management believes the Association is not exposed to any significant credit risk related to cash.

INVESTMENTS consist of debt securities and certificates of deposits, which are carried at amortized cost as the Association has the positive intent and ability to hold all debt securities and certificates of deposit until maturity.

INVENTORIES consist of food, beverage and retail goods and are stated at the lower of average cost or market.

PROPERTY AND EQUIPMENT of the Association includes certain facilities and land contributed by the developer in prior years.

These assets are reflected in the accounts at the developers’ cost basis. Purchases are stated at cost. The Association capitalizes all expenditures for property and equipment in excess of $2,000.

Depreciation is computed using the straight-line method over estimated useful lives of individual assets ranging from 3 to 60 years.

These assets are recorded directly in the Property Fund.

Approximately 3,000 acres of undeveloped non-common area real property owned by the Association is controlled by the Association’s declaration of covenants and restrictions and bylaws.

INTEREST INCOME and the related income tax expense is allocated to the Operating, Replacement Reserve, New Machinery and Equipment and Operating Funds in proportion to the interestbearing assets of each fund.

NOTES TO FINANCIAL STATEMENTS ASSESSMENTS PAID IN ADVANCE AND DEFERRED REVENUE primarily represents funds received for assessments, amenity and newsletter fees received in the current fiscal year, which apply to the subsequent fiscal year.

DEPOSITS FROM MEMBERS held by the Association are primarily security deposits from members for the construction of residential real property. The deposits are used to ensure that construction is completed in accordance with the guidelines established by the Association’s Architectural Standards Committee. The funds are deposited in a separate trust account and are refundable upon satisfactory completion of construction.

ADVERTISING COSTS are expensed as incurred. For the years ended December 31, 2022 and 2021, advertising costs total $46,979 and $37,776, respectively.

INCOME TAXES – For California purposes, the Association is taxed as membership organization. As such, the Association is generally taxed only on non-member income, such as investment earnings, advertising revenue and gains on sales of assets at regular state corporate tax rates. For federal purposes, the Association has tax-exempt status as a non-profit organization under Internal Revenue Code 501(c)(4). Unrelated business income earned by the Association, such as advertising revenue, is taxed net of related expenses at regular federal corporate tax rates.

The Association has applied the accounting principles related to the accounting for uncertainty in income taxes and has determined there is no material impact on the financial statements. With some exceptions, the Association is no longer subject to U.S. federal and state income tax examinations by tax authorities for years prior to 2017.

CARRYING AMOUNTS OF FINANCIAL INSTRUMENTS, including cash and cash equivalent, accounts receivable and accounts payable approximate their fair value due to the short-term maturities of these instruments.

USE OF ESTIMATES – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures.

Accordingly, actual results could differ from those estimates.

REVENUE RECOGNITION – The Association adopted the provisions of Accounting Standards Codification Topic 606, Revenue from Contracts with Customers, (“Topic 606” in the Accounting Standards Codification (ASC)). Topic 606 superseded the revenue recognition requirements in FASB ASC 972-605, Real Estate— Common Interest Realty Associations, Revenue Recognition. Under Topic 606, the Association must identify a contract with a customer, among other things, and recognize revenue as the Association satisfies a performance obligation.

As described above, Association members are subject to annual assessments that provide funds for the Association’s operating

expenses and major repairs and replacements. Association management has considered Topic 606 and concluded that Association members are not customers as defined in the ASC. As such, all assessment revenue, including amounts allocated to the replacement fund, is recognized in the period in which it is assessed, regardless of when it is collected or expended.

3

REVENUE FROM CONTRACTS WITH CUSTOMERS

REVENUE RECOGNITION The following provides information about the Association’s composition of revenue recognized from contracts with customers, the performance obligations under those contracts, and the significant judgments made in accounting for those contracts: Downhill Ski, Cross Country and Golf revenue is derived from a wide variety of sources, including, among other things: lift, trail and course access revenue, which includes sales of lift tickets, trail access, golf course access and pass products; ski school and lesson revenue, which includes the revenue derived from ski school and lesson operations; food and beverage sales; retail sales and equipment rental revenue. Revenue is recognized over time as performance obligations are satisfied as control of the goods or services (e.g. access to ski areas, trails and golf course, provision of ski school and lesson services, etc.) is transferred to the customer, except for the retail sales, rentals and food and beverage operations revenue which are recognized at a point in time when performance obligations are satisfied by transferring control of the underlying goods to the customer. The Association records deferred revenue primarily related to the sales of the pass products. Deferred revenue is recognized throughout the ski and golf seasons as the Association’s performance obligations are satisfied as control of the service (e.g. access to the ski areas throughout the ski season) is transferred to the customer. The transfer of control is based on the number of days that have passed in the season relative to total expected season days. Total expected season days are based on historical data, and the Association believes this estimate provide a faithful depiction of its customers pass product usage.

The Association’s private amenities (Trout Creek recreation center and aquatics, Snowplay, Marina and Tennis) are accessible via an annual recreation pass or daily access fees. Revenue is derived from recreation pass usage, daily access fees, lessons, classes and trainings, retail sales, equipment rentals and food and beverage sales. Revenue is recognized over time as performance obligations are satisfied as control of the goods or services (e.g. access amenities, provision of lessons, classes and training services, etc.) is transferred to the customer, except for the retail sales, rentals and food and beverage operations revenue which are recognized at a point in time when performance obligations are satisfied by transferring control of the underlying goods to the customer. The Association records deferred revenue primarily related to the sales (Continued on next page)

TAHOE DONNER 2022 ANNUAL REPORT |

19

NOTES TO FINANCIAL STATEMENTS of the recreation pass. Deferred revenue is recognized throughout recreation pass period as the Association’s performance obligations are satisfied as control of the service (e.g. access to amenities throughout the pass period) is transferred to the customer. The transfer of control is based on an estimated number of pass holder visits relative to total expected visits. The total expected visits are estimated based on historical data, and the Association believes this estimate provides a faithful depiction of its customers’ pass product usage.

Food and beverage revenue (The Lodge and Summer F&B, Alder Creek Cafe and Pizza on the Hill) is derived from restaurants and cafes, room rentals and banquets. Revenue is recognized at a point in time when performance obligations are satisfied by transferring controls of the underlying goods to the customer.

Communications revenue is derived primarily from newsletter ad sales. Revenue is recognized over time as performance obligations are satisfied as control of the good (e.g. inclusion of ad in the monthly newsletter) is transferred to the customer. Deferred revenue relates to sales of newsletter ad space for multiple monthly publications in advance.

Other revenue sources not previously mentioned provide revenue from a variety of means including other amenity access fees, lessons and camps, retail sales, equipment rentals, special events and concerts, food and beverage sales, architectural fees and forestry grants revenues. Revenue is recognized over time as performance obligations are satisfied as control of the (e.g. completions of lessons or camps) is transferred to the customer, except for retail sales, equipment rentals and food and beverage sales which are recognized at a point in time when performance obligations are satisfied by transferring control of the underlying goods to the customer.

ARRANGEMENTS WITH MULTIPLE PERFORMANCE OBLIGATIONS Some of the Association’s contracts with customers include multiple performance obligations, primarily related to bundled services such as multiple events, camps, class and lesson packages. For such contracts, revenue is allocated to each distinct and separate performance obligation based on its relative standalone selling price. The standalone selling prices are generally based on observable prices charged to customers or estimated based on historical experience and information.

CONTRACT BALANCES Contract liabilities are recorded primarily as deferred revenues when payments are received or due in advance of the Association’s performance, including amounts which may be refundable. The deferred revenue balance is primarily related to accounts receivable or cash payments recorded in advance of satisfying the Association’s performance obligations related to advance purchase products consisting primarily of recreation passes, ski and golf passes,

20 | TAHOE DONNER 2022 ANNUAL REPORT

amenity-related lessons and programs. Deferred revenue balances related to contracts was approximately $2,455,000 and $2,648,000 as of December 31, 2022 and 2021, respectively. For the years ended December 31, 2022 and 2021, the Association recognized approximately $2,602,000 and $1,784,000 of contract revenue that was included in the deferred revenue balance as of the previous fiscal year, respectively.

Contract assets are recorded as trade receivables when the right to consideration is unconditional. Trade receivable balances were approximately $-0- as of December 31, 2022 and 2021, respectively.

Payments from customers are based on billing terms established in the contracts with customers, which vary by the type of customer, the location and the products or services offered. The term between invoicing and when payment is due is not significant. For certain products or services and customer types, contracts require payment before the products are delivered or services are provided to the customer. Impairment losses related to contract assets are recognized through the Association’s allowance for doubtful accounts analysis. Contract asset write-offs are evaluated on an individual basis.

COSTS TO OBTAIN CONTRACTS WITH CUSTOMERS The Association expects that credit card fees paid in order to obtain season pass products contracts are recoverable. Accordingly, the Association recognizes these amounts as assets when they are paid prior to the start of the pass season. As of December 31, 2022 and 2021, approximately $-0- of costs to obtain contracts with customers were recorded within prepaid expenses and other current assets, respectively.

Utilizing the practical expedient provided for under Topic 606, the Association has elected to expense credit card fees related to non pass products and services as incurred, as the amortization period is generally one year or less for the time between customer purchase and utilization. These fees are recorded within departmental expenses on the Association’s Statement of Revenue and Expenses and Changes in Fund Balances.

NOTES TO FINANCIAL STATEMENTS 4

CASH AND INVESTMENTS

At December 31, the Association’s cash and investments consisted of undesignated, designated and restricted accounts as follows:

2022

CASH

Replacement Reserve Fund - designated

$

606,423

INVESTMENTS $

16,298,003

TOTAL $

16,904,426

Development Fund - designated

243,047

12,546,690

12,789,737

New Equipment Fund - designated

269,669

-0-

269,669

8,481,306

2,230,403

10,711,709

Operating Fund - Trust - restricted 457 (b)

24,500

-0-

24,500

Operating Fund - Architectural standards deposits - restricted

185,505

-0-

185,505

TOTAL

$ 9,810,450

$ 31,075,096

$ 40,885,546

2021

CASH

INVESTMENTS

TOTAL

Operating Fund - undesignated and unrestricted

Replacement Reserve Fund - designated

$

11,018,494

$

4,610,531

$

15,629,025

Development Fund - designated

8,453,349

2,148,054

10,601,403

New Equipment Fund - designated

315,824

-0-

315,824

8,575,802

499,989

9,075,791

Operating Fund - Trust - restricted 457 (b)

24,500

-0-

24,500

Operating Fund - Architectural standards deposits - restricted

219,352

-0-

219,352

$ 28,607,321

$ 7,258,574

$ 35,865,895

Operating Fund - undesignated and unrestricted

TOTAL

Board-designated funds in the Replacement Reserve Fund cannot be expended for any purpose than the repair, restoration, replacement or maintenance of, or litigation involving repair, restoration, replacement or maintenance of, major components which the Association is obligated to repair, restore, replace or maintain and for which the Replacement Reserve Fund was established as mandated by state law.

Designated funds in the Development Fund are controlled by board-adopted policy that affords the board discretion in expenditure, except where member approval is required in connection with the intended project.

Cash consists of cash on hand, demand deposits at banks and highly liquid money market funds.

Association investments consist of municipal and corporate securities, and governmental securities. Varying types and levels of safety protection cover the various Association investments, including FDIC insurance, SIPC insurance, privately funded bank insurance, and the backing of the US Treasury and its agencies.

Municipal and corporate securities, governmental securities and certificates of deposit are carried at amortized cost as they are classified as held to maturity investments since the Association has the positive intent and ability to hold all securities until maturity.

(Continued on next page)

TAHOE DONNER 2022 ANNUAL REPORT |

21

NOTES TO FINANCIAL STATEMENTS The amortized cost of held-to-maturity investment securities at December 31, 2022 and 2021 are as follows: 2022 AMORTIZED COST/NET CARRYING VALUE

2021 AMORTIZED COST/NET CARRYING VALUE

Held to maturity: Certificates of Deposit

$

5,088,020

$

-0-

Corporate Bonds

2,837,978

2,797,163

Municipal Securities

2,114,610

2,960,167

US Treasury Securities

21,034,488

1,501,244

$ 31,075,096

$ 7,258,574

TOTAL HELD TO MATURITY

5

PROPERTY AND EQUIPMENT

7

Property and equipment consist of the following:

Buildings

Fixtures and facility improvements Equipment

2022

2021

$ 35,155,668

$ 34,551,323

19,257,339

19,273,380

22,889,428

21,318,699

12,941,316

12,821,058

1,189,722

1,120,596

TOTAL

91,433,473

89,085,056

Less accumulated depreciation

(50,426,468)

(47,505,073)

41,007,005

41,579,983

4,192,165

1,518,954

Land and land improvements Furnishings

Construction in progress TOTAL

6

$ 45,199,170 $ 43,098,937

INCOME TAXES

The provision for income taxes for the year ended December 31, 2022 and 2021 is as follows: State

2022

2021

$ 45,444

$ 30,697

Federal

3,823

956

TOTAL

$ 49,267

$ 31,653

22 | TAHOE DONNER 2022 ANNUAL REPORT

REPLACEMENT RESERVE FUND

The Association’s policy is to maintain replacement funding levels sufficient to pay for capital replacements, refurbishments and repairs. Fund for replacement of common area property and equipment is accounted for through a Replacement Reserve Fund.

The funds are designated for major repairs and replacement. When major repairs or replacement occur, the expenditures are charged against the fund balance or, if certain conditions are met, a transfer is made for property and equipment to the Property Fund and the expenditures are capitalized.

Replacement funding levels, as determined by a study updated in 2022, are forecast on a 30-year basis with annual updates to replacement schedules, as they become known. The percent-funded level is to exceed 25% and the Replacement Reserve Fund balance is to equal or exceed 10% of net replacement reserve assets (total property and equipment less land and land improvements). The annual assessment allocation to the Replacement Reserve Fund is determined by the Board of Directors with input from management.

Actual expenditures, however, may vary from the estimated amounts and the variations may be material. If additional funds are needed, the Association has the right, subject to any necessary member approval, to increase regular dues, to levy special assessments, or modify and adjust the scheduled major repairs and replacements as necessary.

NOTES TO FINANCIAL STATEMENTS 8

INTERFUND ACTIVITY

The Association maintains five funds. The reserve fund portion of the overall assessment is deposited first to the Operating Fund and transferred to the reserve fund. All fund expenses are paid first by the Operating Fund and subsequently paid back by cash transfer.

At various times during the year there is a receivable/payable (due to/from) among the funds.

9

RETIREMENT PLANS

The Association maintains a savings plan for all eligible employees.

The Association matches dollar-for-dollar up to 4% of employee pay. Matching contributions are 100% vested upon opting into the Association retirement plan. Matching contributions expense was $165,991 and $108,090 for December 31, 2022 and 2021, respectively.

10 COMMITMENT During 2021, the Association entered into a contract for design services for the lodge at the Downhill Ski Resort for $1,234,082. As of December 31, 2022, approximately $432,000 remains to be spent on the contract.

During 2021, the Association entered into a contract for snowmaking infrastructure at the Cross Country Ski Center for $893,709. As of December 31, 2022, $140,808 remains to be spent on the contact.

11 SUBSEQUENT EVENTS Subsequent events have been evaluated through April 14, 2023, the date the financial statements were issued.

The Association maintains two defined contribution plans which qualify under Section 457(b) and Section 457(f) of the Internal Revenue Code, respectively (the 457 Plans). The 457 Plans allow for additional Association contributions and salary deferrals subject to limitations for eligible executive employees. Contributions to the 457 Plans funds are considered deferred compensation until certain future date conditions are met. The Association’s contribution to the 457 Plans was $50,000 and $50,000 for the years ended December 31 2022 and 2021, respectively.

TAHOE DONNER 2022 ANNUAL REPORT |

23

TAHOE DONNER ASSOCIATION

SCHEDULE OF REVENUE AND EXPENSES AND CHANGES IN FUND BALANCES BY NATURAL CLASSIFICATION FOR THE YEAR ENDED DECEMBER 31, 2022 (WITH COMPARATIVE TOTALS FOR 2021)

OPERATIONS

AMENITIES

HOMEOWNERS’ ASSOCIATION

REVENUE Assessments

$

-0-

$

6,120,956

TOTAL OPERATING FUND

$

6,120,956

Access and use fees

8,147,982

-0-

8,147,982

Retail sales

4,419,797

-0-

4,419,797

Lessons and rental revenue

3,126,891

35,765

3,162,656

Late charges, fines and fees

-0-

391,399

391,399

Other revenues

616,060

806,757

1,422,817

Interest income

-0-

26,835

26,835

Total Revenue

16,310,730

7,381,712

23,692,442

Salaries and wages

7,040,476

4,819,356

11,859,832

Cost of good sold

1,636,867

-0-

1,636,867

Payroll taxes and employee benefits

1,753,797

1,318,141

3,071,938

Supplies and maintenance

OPERATING EXPENSES

1,227,390

1,349,460

2,576,850

Utilities

946,367

174,206

1,120,573

Other employee expenses

303,708

208,184

511,892

Insurance

766,582

589,185

1,355,767

Income tax

-0-

27,836

27,836

829,213

935,516

1,764,729

14,504,400

9,421,884

23,926,284

(Gain) Loss on disposal of assets

-0-

-0-

-0-

Depreciation

-0-

-0-

-0-

Other expenses (recovery) Total Operating Expenses

FUND EXPENSES

Fund expenses

-0-

-0-

-0-

14,504,400

9,421,884

23,926,284

$ 1,806,330

$ (2,040,172)

$ (233,842)

PROPERTY FUND ADDITIONS, NET

-0-

-0-

-0-

FUND BALANCES, BEGINNING OF YEAR

-0-

-0-

3,092,665

-0-

$ 2,858,823

Total Expenses

REVENUE OVER (UNDER) EXPENSES

FUND BALANCES, END OF YEAR

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS.

24 | TAHOE DONNER 2022 ANNUAL REPORT

$

-0-

$

Schedule 1

CAPITAL

REPLACEMENT RESERVE FUND $

5,489,104

NEW EQUIPMENT FUND $

-0-

DEVELOPMENT FUND $

3,592,515

TOTALS

PROPERTY FUND $

-0-

TOTAL 2022

$

15,202,575

TOTAL 2021

$

14,505,993

-0-

-0-

-0-

-0-

8,147,982

6,695,186

-0-

-0-

-0-

-0-

4,419,797

2,955,885

-0-

-0-

-0-

-0-

3,162,656

2,285,604

-0-

-0-

-0-

-0-

391,399

452,303

-0-

-0-

-0-

-0-

1,422,817

856,628

210,108

3,321

186,477

-0-

426,741

177,184

5,699,212

3,321

3,778,992

33,173,967

27,928,783

-0-

-0-

-0-

-0-

11,859,832

9,749,970

-0-

-0-

-0-

-0-

1,636,867

1,103,997

-0-

-0-

-0-

-0-

3,071,938

2,423,612

-0-

-0-

-0-

-0-

2,576,850

1,861,512

-0-

-0-

-0-

-0-

1,120,573

871,943

-0-

-0-

-0-

-0-

511,892

321,447

-0-

-0-

-0-

-0-

1,355,767

1,112,481

11,930

229

9,272

-0-

49,267

31,653

(3,297)

-0-

(2,231)

-0-

1,759,201

1,605,019

8,633

229

7,041

-0-

23,942,187

19,081,635

(47,554)

-0-

-0-

822

(46,732)

(53,644)

-0-

-0-

-0-

3,322,358

3,322,358

3,176,324

964,858

-0-

192,515

-0-

1,157,373

850,993

925,937

229

199,556

3,323,180

28,375,186

23,055,308

3,092

$ 3,579,436

$ (3,323,180)

$ 4,798,781

$ 4,873,475

(3,495,601)

(42,109)

(1,885,700)

5,423,410

-0-

-0-

14,797,809

298,521

11,031,781

43,098,940

72,319,716

67,446,241

259,504

$ 12,725,517

$ 45,199,170

$ 77,118,497

$ 72,319,716

$ 4,773,275

$ 16,075,483

$

$

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS. TAHOE DONNER 2022 ANNUAL REPORT |

25

Schedule 2

TAHOE DONNER ASSOCIATION

SCHEDULE OF CAPITAL FUNDS’ EXPENDITURES BY DEPARTMENT FOR THE YEAR ENDED DECEMBER 31, 2022 REPLACEMENT RESERVE FUND

NEW EQUIPMENT FUND

DEVELOPMENT FUND

CAPITAL FUNDS TOTAL

CAPITAL MAJOR ADDITIONS MAINTENANCE

CAPITAL MAJOR ADDITIONS MAINTENANCE

CAPITAL MAJOR ADDITIONS MAINTENANCE

CAPITAL MAJOR ADDITIONS MAINTENANCE

$

$

PRIVATE AMENITIES $ 389,230

$ 57,001

-0-

$ -0-

-0-

25,834

-0-

72,385

9,636

5,749

-0-

27,420

Camps + Recreation Programs

28,589

TOTAL PRIVATE AMENITIES

Trout Creek Recreation Center

1,101

$ -0-

$ 390,331

$ 57,001

-0-

47,349

-0-

47,349

25,834

-0-

-0-

-0-

78,134

9,636

-0-

-0-

-0-

-0-

-0-

27,420

-0-

5,100

-0-

-0-

-0-

33,689

-0-

490,204

119,891

10,849

-0-

48,450

-0-

549,503

119,891

Golf

892,785

72,152

-0-

-0-

-0-

-0-

892,785

72,152

Downhill Ski

686,680

2,860

1,478

-0-

931,702

-0-

1,619,860

2,860

Cross Country Ski

Beach Club Marina Tennis Center Northwoods Pool / Aquatics

PUBLIC AMENITIES

469,244

56,786

5,489

-0-

554,899

-0-

1,029,632

56,786

Campground

7,271

-0-

-0-

-0-

-0-

-0-

7,271

-0-

Equestrian

41,728

-0-

-0-

-0-

-0-

-0-

41,728

-0-

Trails

107,738

12,524

-0-

-0-

300,530

-0-

408,268

12,524

Bikeworks

30,956

-0-

-0-

-0-

-0-

-0-

30,956

-0-

The Lodge

208,898

12,203

6,407

-0-

50,119

-0-

265,424

12,203

The Lodge, Summer Lunch/Golf F&B

-0-

-0-

33

-0-

-0-

-0-

33

-0-

Pizza on the Hill

-0-

-0-

-0-

-0-

-0-

-0-

-0-

-0-

Alder Creek Cafe

-0-

-0-

-0-

-0-

-0-

-0-

-0-

-0-

Snowplay

-0-

-0-

-0-

-0-

-0-

-0-

-0-

-0-

TOTAL PUBLIC AMENITIES

2,445,300

156,525

13,407

-0-

1,837,250

-0-

4,295,957

156,525

TOTAL AMENITIES

2,935,504

276,416

24,256

-0-

1,885,700

-0-

4,845,460

276,416

HOMEOWNERS ASSOCIATION AND GENERAL + ADMINISTRATIVE General Homeowners Association

48,862

32,172

-0-

-0-

-0-

-0-

48,862

32,172

-0-

-0-

Marketing + Communications

-0-

-0-

-0-

-0-

-0-

-0-

Facility Administration

-0-

190,752

-0-

-0-

-0-

183,904

-0-

374,656

Administration

23,211

45,406

-0-

-0-

-0-

1,831

23,211

47,237

Information Technology

292,137

276,380

17,853

-0-

-0-

6,780

309,990

283,160

Accounting

-0-

-0-

-0-

-0-

-0-

-0-

-0-

-0-

Human Resources

-0-

-0-

-0-

-0-

-0-

-0-

-0-

-0-

Architectural Standards Office

-0-

11,400

-0-

-0-

-0-

-0-

-0-

11,400

Member Services

-0-

-0-

-0-

-0-

-0-

-0-

-0-

-0-

Forestry

15,715

101,988

-0-

-0-

-0-

-0-

15,715

101,988

Maintenance

180,172

30,344

-0-

-0-

-0-

-0-

180,172

30,344

TOTAL HOA AND G+A

560,097

688,442

17,853

-0-

-0-

192,515

577,950

880,957

$3,495,601 $ 964,858

$ 42,109

$ -0-

$1,885,700

$ 192,515

TOTAL

Replacement Reserve Fund - General HOA - Major Maintenance also includes overhead ($78,976) and bad debt expense ($13,000) cost allocations.

Development Fund - General HOA - Major Maintenance also includes overhead ($118,024) and bad debt expense ($7,000) cost allocations.

26 | TAHOE DONNER 2022 ANNUAL REPORT

$5,423,410 $1,157,373

Schedule 3

REQUIRED SUPPLEMENTARY INFORMATION ON FUTURE MAJOR REPAIRS AND REPLACEMENTS DECEMBER 31, 2022 (UNAUDITED)

It is the policy of the Association to fund a reserve program that will adequately provide for repair and replacement of existing Associationowned assets. A 30-year reserve funding and expenditure plan is produced every three years, and updated annually, to schedule and analyze the funding needs. The Association and a consultant updated the study in 2022 to estimate the remaining useful lives, the lives after replacement, and the replacement costs of the components of common property. The estimates were based on estimates from management, contractors and historical costs. Estimated current replacement costs have been adjusted to reflect a 3.5% inflation factor, 1% investment interest rate, and an 8% tax provision on investment income.

The Association does not designate the balance of the replacement fund by component. The total available for major repairs and replacements, as of December 31, 2022, is $16,075,484. The 2023 budget includes $5,598,886 of dues allocated to the replacement fund.

The Association has not included the replacement of building structures as a component of the replacement study. These structures generally have an original useful life greater than 30 years. The Association has defined a DRAFT building replacement schedule and beginning in 2024 will commence funding for those projects in a fund to be determined. The Downhill Ski Resort lodge will remain funded from the current Development Fund with an additional $3.5M from the Replacement Reserve Fund.

The following table is based on the study and presents significant information about the components of common property.

RESERVE COMPONENT

RANGE OF SERVICE LIFE REMAINING (YEARS)

Administration

0-47

$ 2,412,830

Alder Creek Cafe

0-32

164,989

Bikeworks

0-3

69,000

Campground

0-38

480,838

Capital Projects

0-5

246,650

Chalet House

2-22

349,519

Cross Country Ski Center

0-36

3,611,906

Equestrian Center

0-26

903,679

Food Trailer

5-8

65,500

Forestry

0-36

2,452,948

General Maintenance

0-14

676,157

Golf Complex

0-15

1,000,753

Golf Course

0-47

13,902,324

Information Technology

0-39

2,320,989

Maintenance

0-50

3,558,028

Marina

0-36

1,353,770

Northwoods Pool Building

0-20

437,323

Northwoods Clubhouse

0-36

3,426,448

Pizza on the Hill

0-36

535,714

Recreation

0-21

656,797

Downhill Ski Resort Mountain Operations

0-36

6,375,024

Downhill Ski Resort Mountain Operations All Areas

1

165,000

CURRENT REPLACEMENT COSTS

RESERVE COMPONENT

RANGE OF SERVICE LIFE REMAINING (YEARS)

CURRENT REPLACEMENT COSTS

Downhill Ski Resort Mountain Operations - Lift Maintenance

0-36

4,088,183

Downhill Ski Resort Mountain Operations Rental + Retail

0-17

1,123,173

Downhill Ski Resort Mountain Operations Snowmaking

0-18

1,060,213

Downhill Ski Resort Mountain Operations Top Shop

0-18

302,874

Downhill Ski Resort Mountain Operations Winter Food + Beverage

0-1

502,812

Snowplay

0-5

148,730

Tennis Complex

1-20

2,146,266

The Lodge Restaurant & Pub

0-50

3,723,727

Trails

0-34

3,471,576

Trout Creek Recreation Center Building

0-29

2,464,125

Trout Creek Recreation Center Pool and Spa

0-15

1,468,357

TOTAL

$ 65,656,222

(See Independent Auditor’s Report) TAHOE DONNER 2022 ANNUAL REPORT |

27

ANNUAL BUDGET – SOURCE OF FUNDS

CAGR = COMPOUND ANNUAL GROWTH RATE

DOLLARS IN THOUSANDS $35,000

$30,000

ANNUAL ASSESSMENT, CAPITAL ANNUAL ASSESSMENT, OPERATING ANNUAL ASSESSMENT, COMBINED TOTAL OPERATING REVENUE REVENUE SOURCES TOTAL

10-YEAR CAGR 2012-2022 2013-2023 7.5% 8.1% 3.1% 3.0% 5.5% 5.7% 5.3% 6.8% 5.4% 6.2%

$15,000

$10,000

$5,000

$0

$30,779

$26,934 $24,759

$25,000

$20,000

$34,158

21% 5,696

$23,299

$19,976 $18,149

24% 4,401

25% 4,621

51% 9,250

48% 8,925

2012

$21,497

2013

27% 5,450

25% 4,906

31% 6,433

25% 5,217

48% 9,620

44% 9,210

43% 9,200

2014

2015

2016

OPERATING REVENUES

26% 7,023

32% 6,951

25% 5,346

$27,789

21% 5,890

23% 6,447

25% 6,085

27% 6,311

$18,665 27% 5,119

25% 4,498

$20,860

$27,507

50% 12,460

47% 11,000

2017

2018

ANNUAL ASSESSMENT, CAPITAL

20% 6,123

30% 10,091 30% 9,082

27% 7,477

25% 6,214

26% 5,988

20% 6,894

53% 14,215

51% 14,140

2019

2020

29% 8,059

48% 13,283

2021

50% 15,574

2022

50% 17,173

2023

ANNUAL ASSESSMENT, OPERATING

ALL MEMBERS PAY

USERS PAY

(MEMBERS/GUESTS/PUBLIC)

ANNUAL BUDGET – USE OF FUNDS DOLLARS IN THOUSANDS $35,000

$30,000

CAPITAL FUNDING AMENITIES OPERATING COSTS HOA SERVICES COSTS OUTFLOW USES TOTAL

$34,158

10-YEAR CAGR 2012-2022 2013-2023 7.5% 8.1% 4.7% 5.8% 4.7% 5.1% 5.4% 6.2%

$30,779

$26,934

$15,000

$10,000

$23,299

$19,976 $18,149

30% 5,445

46% 8,303

$18,665

30% 5,663

45% 8,381

29% 5,823

46% 9,247

$20,860

29% 6,125

46% 9,518

$21,497

30% 6,347

46% 9,804

27% 6,352

47% 10,959

$5,000

$0

$27,789 28% 8,610

$24,759

$25,000

$20,000

$27,507

28% 6,840

47% 11,705

24% 4,401

25% 4,621

25% 4,906

25% 5,217

25% 5,346

26% 5,988

25% 6,214

2012

2013

2014

2015

2016

2017

2018

CAPITAL FUNDING

28 | TAHOE DONNER 2022 ANNUAL REPORT

AMENITIES OPERATING COSTS

BEFORE OVERHEAD FOR COMPARABILITY FOR ALL YEARS

27% 7,350

27% 9,322

29% 7,905

29% 8,116

47% 12,561

44% 12,125

42% 11,614

26% 7,023

27% 7,477

29% 8,059

2019

2020

2021

HOA SERVICES COSTS

43% 13,087

43% 14,745

30% 9,082

30% 10,091

2022

2023

Selling? Contact the Market Leader! Alison Elder.

NEW LUXURY LISTING

GORGEOUS GOLF COURSE LOCATION OVERLOOKING THE 3RD FAIRWAY 13240SKIVIEWLOOP.COM | LISTED FOR $2,475,000 5 BEDS | FAMILY ROOM SUITE | 4.5 BATHS | 3,279 SF | CUSTOM DESIGN

Elder Group Leads the Tahoe Donner Market

SOLD - DUAL AGENCY

Realtor #5 14 Units $19,980,000 Realtor #4 18.5 Units $21,040.000

Alison Elder 49.5 Units $54,010,000

Realtor #3 20.5 Units $21,770,000 Realtor #2 26.5 Units $26,770,000

12340BROOKSTONEDRIVE.COM SOLD FOR $2,300,000 | CLOSE OF ESCROW 3.31.23 4 BEDS | 3 BATHS | SF 3,161

RealTrends 2022 Ranked 229th Nationally by Sales Volume

Information gathered from TSMLS 1-1-22 to 4-3-23. Volume has been rounded up to the nearest $10,000 for ease of reader review.

*

1

Top % of US Realtors

Alison Elder

530.582.8103 Tahoe@AlisonElder.com ElderGroupTahoeRealEstate.com

©2023 Berkshire Hathaway Home Services: Drysdale Properties. All rights reserved. Each office is independently owned and operated. Berkshire Hathaway fully supports the principals of the Fair Housing Act. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing. CA DRE License #01399851

TAHOE DONNER ASSOCIATION 11509 NORTHWOODS BLVD. TRUCKEE, CA 96161

Tahoe Donner Market Stats FOR THE END OF THE 1ST QUARTER 2023 ACTIVE HOME INVENTORY

16

MEDIAN LIST PRICE

$1,062,500

UP 100% FROM 1 YEAR AGO

MONTHS OF INVENTORY

24

DAYS

FOR SOLD INVENTORY WITHIN THE LAST 6 MONTHS

$1,026,250

UP 16% SINCE LAST MONTH

AVERAGE DAYS ON MARKET

48

MEDIAN SALE PRICE

DAYS

UP 182% IN LAST 6 MONTHS vs PREVIOUS 6 MONTHS

FOR SOLD INVENTORY WITHIN THE LAST 6 MONTHS

AVERAGE PRICE PER SQFT

$565.38

FOR SOLD INVENTORY WITHIN THE LAST 6 MONTHS

Source: Tahoe Sierra MLS, Single Family Residence, as of 04/10/2023

11836 Donner Pass Road, Truckee 100 Northstar Drive, Truckee 289 Commercial Street, Portola 530-587-7444