Tahoe Donner News May 2024

ROADMAP TO THE ELECTION 14

TAHOE DONNER N

E

W

S

ANNUAL REPORT

12

KEEP THE COMMUNITY CLEAN AND GREEN! 10

BUSINESS DIRECTORY 18

M A Y

2 0 2 4

INSIDE THE REPORT:

THE BUZZ:

02

03

ASSOCIATION UPDATES

EVENTS, DINING + UPDATES

Message From the Quick Calendar Board President

16

Tahoe Donner Giving Fund: Your Gifts Change Lives

12

2023 ANNUAL REPORT

Graphical Overview of Tahoe Donner’s 2023 Audited Results and Accomplishments

ALPINE MEDIA HOUSE

18

FEATURES

Business Directory

22

Briefs

24

Board Meeting Recaps

04

Amenity Updates, Programs + Events

06

Club Updates

08

Dining Hours + Specials

10

Help Keep the Community Clean and Green: Recycling and Green Waste Information

20

EMBRACE THE DARKNESS FOR A BRIGHTER FUTURE

14

ROADMAP TO THE ELECTION

ALLIE BALLESTEROS

Dark Skies Information and Covenants Reminders

TAHOE DONNER NEWS |

1

VOLUME 25 | NO. 05

MAY 2024

EDITORIAL AND PRODUCTION TEAM Lindsay Hogan Carlynne Fajkos Cynthia Cendreda

Drew Deurlington Camy Bretin Jesus Antonio Vazquez

SENIOR MANAGEMENT

Annie Rosenfeld | General Manager arosenfeld@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 Jon Mitchell | Director of Capital Projects + Facilities jmitchell@tahoedonner.com Miguel Sloane | Director of Operations msloane@tahoedonner.com Steve Turner | Director of Food + Beverage sturner@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) 742-9850 | laura@ccmpublishing.com 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. TAHOE DONNER NEWS IS CREATED LARGELY IN-HOUSE AND IS PRINTED ON CERTIFIED RECYCLED PAPER STOCK USING SOY-BASED INKS.

MESSAGE FROM THE BOARD PRESIDENT Greetings, neighbors!

In my first president’s message four years ago, I welcomed a new general manager.

Now, in my final president’s message, I welcome Annie Rosenfeld as our new general manager.

Back in 2020, I encouraged Annie to apply for the then-open position. To her credit, Annie declined, saying she was not yet ready. Now, with 20 years of preparation at Tahoe Donner and having served as our interim GM for six months and as General Manager for the past two months, Annie is truly proving that she is ready and doing an excellent job for our membership.

Congratulations, Annie!

In 2020, with our current board largely in place, we began earnestly preparing for our future. The association was soon to be 50 years old, and we were feeling both the growing pains and our age. That year, in the depths of COVID, I wrote about challenges.

Today, I write about commitments.

Annie has already written about her commitment to members, fiscal responsibility, our natural resources, our safety, and her dedication to value and excellence. These shared commitments were highly valued by the board in her selection.

Here’s more on our commitments and our actions to achieve them: We are committed to forest health and fire safety. Work on forest health continued this past winter. Grant funding is being accessed. We are also committed to emergency access, egress and traffic safety infrastructure, and we are actively working with the Town of Truckee to secure tax dollars to execute projects.

We are committed to sound planning for our future. We are updating our capital funds policies to ensure we are planning for and adequately and predictably funding our future capital needs. The Long-range Planning Committee, a member committee, is diligently working on recommendations for the future of the Northwoods campus.

We are committed to member value and enjoyment. The board and staff are digging deep into the recent member survey to identify opportunities and act. We are working to update our decades-old private amenity access policy to optimize access, value and enjoyment for members and our guests.

We are committed to member input and involvement. Please participate in surveys, attend workshops, forums, and meetings, read Tahoe Donner communications, and, in this election season, vote! Write to the board at memberletters@tahoedonner.com, or simply enjoy Tahoe Donner – the most enjoyable way to be involved!

As I reach the end of my tenure on the board of directors, the hard part is not being part of driving these many great initiatives to conclusion. The easy part, though, is the confidence I have in staff and my fellow directors to indeed drive these many great initiatives to conclusion, to the benefit of all Tahoe Donner members.

It has been an honor to serve you these past six years.

Enjoy Tahoe Donner!

DON KOENES | BOARD PRESIDENT

We do everything you come to Tahoe not to do!

FEATURED EVENTS SUMMER HIRING FAIR SUMMER HIRING FAIR

Visit Pizza on the Hill on May 4 from 10AM-2PM to learn about seasonal job opportunities and fun perks – including free amenity access and food discounts – with Tahoe Donner, all while enjoying free pizza.

WHEN: May 4 WHERE: Pizza on the Hill LEARN MORE: Page 22

FIREWISE COALITION MEETING

MEMBEREXCLUSIVE BOGO DINING DEALS

WHEN: May 8 WHERE: Alder Creek Adventure Center LEARN MORE: Page 23

WHEN: Starting May 1 WHERE: The Lodge Restaurant & Pub and Pizza on the Hill LEARN MORE: Page 8

Eastern Nevada County Firewise community leaders address crucial topics related to wildfire preparedness and community resilience.

Members who present a valid member ID card can enjoy a discount on their second entrée or pizza throughout May. Some restrictions apply.

MAY

Serving Tahoe Donner for over 25 years.

EVENTS + MEETINGS TUESDAYS

HOME INSPECTIONS & SPA CARE CLEANING & SNOW SHOVELING MAINTENANCE & DEFENSIBLE SPACE GUEST SERVICES & MORE YOUR LOCAL 24/7 CONTACT

Mah Jongg Club at Pizza on the Hill

Email us today: SHC@secondhomecare.com 530.582.0220 www.secondhomecare.com Offices at 17400 Northwoods Blvd in TD

WEDNESDAYS No Corkage at The Lodge THURSDAYS

Karate Club Classes at Trout Creek Rec Center

MAY 1

Quilt Club Meeting at The Lodge

MAY 3-12

Vote for Tahoe Donner in the Sierra Sun’s 2024 Best of North Lake Tahoe + Truckee Contest

MAY 4

Summer Hiring Fair at Pizza on the Hill

MAY 8

Tahoe Donner Forestry Hosts the Eastern Nevada County Region Firewise Coalition Meeting

MAY 10

Tennis Center Opening Day

MAY 13

Golf Pro Shop Opens Golf Course Opens June 1

MAY 15

Quilt Club Meeting at Pizza on the Hill

MAY 18-19

Lifeguard Certification + Recertification Class at Trout Creek Rec Center

MAY 22

Deadline to Submit Questions for Candidates for Director Election Forum

MAY 24

Beach Club Marina Opening Day

MAY 24

Bikeworks Opening Day

MAY 24

Alder Creek Cafe Opens for Summer

MAY 24

Regular Board Meeting at Northwoods Clubhouse

MAY 25

Tennis + Pickleball Season-Opening Event at Tennis

MAY 26

Member Services Resumes Daily Operations

MAY 26

Golf Clubs’ Kickoff Social

MAY 31

Green Waste Drop-Off Day at Trout Creek Recreation Center Parking Lot

Sip. Sa vor. Smile.

49 T H S O R O PT I M I ST W I N E +

RESTAURANT FAIRE FUNDRAISER SAT. JUNE 1 | 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 & DONORS

GROCERY OUTLET • SVCF • MOUNTAIN HOME CENTER • CF HOLDINGS • DICKSON REALTY TRUCKEE-TAHOE LUMBER • PLUMAS BANK • SIERRA SUN • DAHLIN GROUP

TICKETS: $60 • EARLY BIRD SPECIAL: $50 BEFORE 5/24 PURCHASE TICKETS AT: SITD.INFO OR TRUCKEE WELCOME CENTER OR DICKSON REALTY In compliance with gov’t 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 |

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THE

BUZZ

OPENING DAY

SATURDAY, JUNE 1

SEASON + HOURS

PRO SHOP: May 13-31 | 8AM-5PM June 1-Sept. 15 | 6:30AM-7PM Sept. 16-30 | 7:30AM-6:30PM Oct. 1-Oct. 13 | 8:30AM-6PM

EVENTS. DINING. UPDATES.

COURSE: June 1-Sept. 15 | 7AM-7PM Sept. 16-30 | 8AM-6PM Oct. 1-13 | 9AM-6PM

TENNIS CENTER

BEACH CLUB MARINA

DRIVING RANGE: Scheduled to open in mid-May

OPENING DAY

OPENING DAY

SEASON + HOURS

SEASON + HOURS

Schedule and opening day are conditions permitting, and certain sections of the course may be temporarily impacted by renovations.

Visit the website for the most up-todate information.

FRIDAY, MAY 10

May 10-Oct. 27 | 7:30AM-8PM Scheduled activities and opening day are conditions permitting. Visit the website for the most up-to-date information, court reservations, lessons, clinics and other programs.

FRIDAY, MAY 24

May 24-Sept. 2 | 7AM-9PM Sept. 3-Oct. 6 | 8AM-7PM Schedule and opening day are conditions permitting.

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 catamarans, pedal boats, kayaks, SUPs and more. Take a lesson or a tour of the lake, swim, soak up the sun and sand or enjoy a beachside lunch at the Marina Grill until Sept. 2. Snacks and drinks available from Sept. 3-Oct. 6.

JUNIOR SAILING PROGRAM JUNIOR TENNIS CAMPS

Junior Tennis Camps begin June 17 to Aug. 16 every Monday-Friday from 2-5PM. Registration begins May 9 for members and May 16 for guests of members at 11AM. Space is limited; call (530) 587-9474 for information or register on ShopTD.

2024 TENNIS + PICKLEBALL SEASONOPENING EVENT SATURDAY, MAY 25 | 2PM

DAPHNE HOUGARD

GOLF COURSE

Kick off the season with an exciting afternoon of tennis or pickleball followed by a potluck barbecue and social gathering.

Round Robin Play: 2-5PM Barbecue + Potluck: 5PM Cost: $12 member, $20 for guests tahoedonner.com/tennis

Beginner to intermediate sailors ages 9-16 learn sailing skills in small classes during three-day sessions. Visit ShopTD to register.

KAYAK TOURS

Kayak tours are on sale now! For details and info on how to register, visit ShopTD.

PARKING + TART CONNECT NEW this season, parking within the fenced lot at the Beach Club Marina will be for members only. Please be prepared to show your Member ID to enter. Spaces are limited, consider taking the TART Connect for free and convenient door-to-door transportation. Tahoe Donner will also be offering a free shuttle service from the Truckee High School parking lot to the Beach Club Marina Friday-Sunday 11AM-5PM beginning June 28. tahoedonner.com/marina

SEASON PASS + PLAY PACKS ON SALE NOW

Gear up for a great summer of golf at Tahoe Donner! Season passes and play packs are on sale now on ShopTD.

JUNIOR GOLF CLINICS

Registration is now open for Tahoe Donner Junior Golf Clinics. These 1.5-hour skills practice sessions are offered every Sunday at the Tahoe Donner Golf Course during the golf season. Clinics are for youth players ages 6-13. Golfers will work on golf skills, including full swing, chipping and putting. Sign up at the Pro Shop!

ROOKIE CLINIC Sundays | 1:30-3PM

Beginners will learn fundamental golf skills through fun and engaging drills, games and challenges. No previous experience necessary; golf clubs are not required.

Cost: $30 per clinic PRACTICE SQUAD CLINIC Sundays | 3-4:30PM

Experienced players will have a chance to hone individual golf skills and prepare for the course. Golf clubs are required.

Cost: $30 per clinic Learn more online at tahoedonner.com/junior-golf-clinics. tahoedonner.com/golf

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

TROUT CREEK REC CENTER

EQUESTRIAN CENTER

HOURS OF OPERATION

HORSEBOARDING

GYM: Daily | 6AM-9PM

RECREATION POOL: Daily starting May 24 | 10AM-7PM LAP POOL: Daily | 6AM-7:45PM HOT TUBS, STEAM ROOM + SAUNA: Daily | 6AM-8:45PM The Rec Pool opens May 24.

Conditions permitting. No lifeguards on duty; swim at own risk.

RULES REGARDING MINORS IN THE GYM

Members ages 13-17 with a gym sticker may use the gym without direct supervision only after attending an orientation and having the gym waiver and code of conduct signed by a parent or legal guardian. Guests aged 13-17 must be under direct supervision by an adult in order to use the gym.

The Equestrian Center is currently accepting 2024 horseboarding applications for members and non-members. Horseboarding begins June 1. Visit the website to learn more.

CAMPS ON SALE

Horsemanship Camps are still available for young riders, ages 8-14. Horsemanship camps begin June 17 and run through Aug. 9. See tahoedonner.com/summercamps for more information. tahoedonner.com/equestrian

BIKEWORKS OPENING DAY FRIDAY, MAY 24

HOURS OF OPERATION

Learn more online at tahoedonner.com/lifeguard-certification.

TAHOE DONNER CONTACTS Area Code (530)

MEMBER SERVICES

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

AMENITIES Beach Club Marina 587-9460 marina@tahoedonner.com Bikeworks 582-9694 bikeworks@tahoedonner.com Campground 587-9462 campground@tahoedonner.com Cross Country Ski Ctr 587-9484 xc@tahoedonner.com Downhill Ski Resort 587-9444 skireservations@tahoedonner.com Equestrian Center 587-9470 equestrian@tahoedonner.com Forestry 587-9432 forestry@tahoedonner.com Golf Course 587-9443 golf@tahoedonner.com The Lodge 587-9455 lodge@tahoedonner.com Recreation Hut 587-9413 recreation@tahoedonner.com Snowplay 587-9400 snowplay@tahoedonner.com Tennis Center 587-9474 tennis@tahoedonner.com Trails 582-9672 trails@tahoedonner.com Trout Creek Rec Ctr 587-9437 troutcreek@tahoedonner.com

Architectural Standards Rod Whitten aso@tahoedonner.com

Giving Fund Nan Meek tdgf@tahoedonner.com

Covenants Evan Beller covenantscommittee@ tahoedonner.com

Long-Range Planning Jerry Meek lrpc@tahoedonner.com

Elections Steve Meyers electionscommittee@ tahoedonner.com

Trails and Open Space Peter Sawyer tos@tahoedonner.com

Finance Joe Niedringhaus financecommittee@ tahoedonner.com

ASSOCIATION CHARTERED CLUB PRESIDENTS 4-Wheelers Tim West club@td4wheelers.org

Men’s Golf Corey Leibow cleibow1@gmail.com

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.

9-Holers Women's Golf Debi Lorraine debi.lorraine@gmail.com

Mountain Bike Dustin Young dustinyoung75@gmail.com

American Mah Jongg Dori Schick doridans@hotmail.com

Quilt Odette Turmel odette.turmel@gmail.com

Equestrian Susan Terrell terrellsf@earthlink.net

Rowing Val Brinker vbrinker@dicksonrealty.com

tahoedonner.com/bikeworks

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 TBD

Daily | 9AM-6PM

Lifeguard certification classes will be held May 18-19 and June 8-9 from 9AM-4:30PM. A review and recertification class will take place on June 15 from 9AM-4:30PM.

TAHOEDONNER.COM/SUBSCRIBE

ASSOCIATION COMMITTEE CHAIRS

To schedule an orientation, email troutcreek@tahoedonner.com.

LIFEGUARD CERTIFICATION + RECERTIFICATION

STAY IN THE KNOW. SIGN UP FOR WEEKLY EMAILS:

Women’s Golf Martha Gilbertson gilbertson34@gmail.com

Member Cost: $120 for certification class, $80 for recertification class

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

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

MEMBER FEEDBACK

tahoedonner.com/fitness tahoedonner.com/aquatics

Help improve the overall association.

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

TAHOE DONNER NEWS |

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BUZZ:

KARATE CLUB

JUNIOR GOLF CLUB

CLUBS WOMEN’S GOLF CLUB

Things are starting to warm up, and spring has arrived. It won’t be long until we can all get back to playing golf. Work to clear the greens and cart paths is underway, and the Tahoe Donner Golf Course is anticipated to open in late spring. We hope to see everyone at our welcome event on Sunday, May 26, and stay tuned for information on our first play day. If you are looking to get some swings in before then, consider signing up for an NCGA event. There are even justfor-fun play days where you can play courses you may never have tried.

As always, you can find more information on membership or the calendar of events at tdwomengolf.org.

SENIOR ALPINE SKI CLUB

DAPHNE HOUGARD

The snowpack this winter has allowed us to ski through April and into May. Our club had a fabulous barbecue and Hawaiian Luau at Alpine Meadows on April 2, after a morning of skiing the D Chutes, Palisades and Face on chalky, creamy snow. Thanks to Ione, Chris, Bob, Marty, Maryellen, Judi, Stephen and many more for organizing this super fun day.

We will be skiing until Memorial Day and then looking forward to summer activities. Please visit our website at tdski.com for more information. We are always welcoming enthusiastic, active people to the club!

Please note a recent change to the Karate Club schedule. The club will no longer meet on Saturdays, only Thursdays from 4:30-6PM at the Trout Creek Rec Center. The club will also accept new members from January through March 2025. Please contact Suz Field at IKLdojo.TD@gmail.com for additional information.

Location: Trout Creek Rec Center Days: Thursdays

Times: 4:30-6PM

Costs: $50 annual club fee plus paid Rec Fee or Daily Access Fee; parent(s) who participate with a child are free Eligibility: Ages 8+

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

Calling all junior golfers! Come join the Tahoe Donner Junior Golf Club and be a part of the PGA Junior League travel or home team. The PGA Junior League teams are for golfers ages 7-13 with golf experience. The travel team is for golfers with minimal course experience who want to improve their skills. To be eligible for the travel team, golfers must have played on the team last year or have tournament experience. The home team is the “development” team for the Junior Golf Club. With a scramble format each Thursday, both travel and home teams will have a chance to use skills developed in clinics and have fun playing with new friends. The travel team will also play on Mondays at other local golf courses.

All team players must register with the PGA Junior League on their website at pgajrleague.com. To learn more about the Tahoe Donner Junior Golf Club teams, visit tahoedonner.com/pga-junior-league.

4-WHEELERS CLUB Fifteen club members with eight vehicles attended this year’s Easter Jeep Safari in Moab, Utah, to enjoy some red rock trail challenges and amazing scenery. The Red Rock 4WD Club holds the event annually with a one-to-10 (easy to challenging) trail rating system.

The group split up to hit various trails, including the treacherous Pritchett Canyon, rated nine; Gold Bar Rim Rusty Nail version, rated eight; Fins and Things, rated five; Behind the Rocks Tip Toe, rated five; as well many as others.

Everyone did Poison Spyder together.

Rated a six, the trail is in a beautiful mesa with incredible vistas and various terrain,

from steep steps and slick rock climbs to crack traverses and even sand dunes – a great trail for building 4WD skills!

Everyone had a great time!

Bimonthly trail runs start in May. Join and register to attend at TD4Wheelers.org.

AMERICAN MAH JONGG CLUB

QUILT CLUB

When Mary Zapponi, pictured second from the right, “retired” in 2014, she decided to learn a new game and chose Mah Jongg. She bought her first National Mah Jongg League card in 2015; the rest is history! Mary has always been a “gamer.” In addition to Mah Jongg, she enjoys playing Canasta and was a Blackjack and Roulette dealer at a North Shore casino in the 90s. When not playing games, Mary can likely be found hiking a trail somewhere in the area or around the world with her husband, Fred.

May is a time of change. We are now enjoying more than 12 hours of sunshine, and warmer weather is around the corner. I look forward to seeing the daffodils bloom to bring color to the landscape. Spring flowers are so happy! There are so many ways to honor the spring flowers using fabrics and creativity. This gem of a quilt was made by Linda Kitano. Linda has a beautiful way of mixing brilliant prints and colors; how can one not smile looking at this?

and rules. No RSVP needed! For more information about the American Mah Jongg Club, contact Linda Slattery at lbslattery@yahoo.com or Dori Schick at doridans@hotmail.com.

The club meets every Tuesday at Pizza on the Hill from 12-3PM. We play American Mah Jongg using the current year's National Mah Jongg League card

TD 9-HOLERS CLUB

MEN’S GOLF CLUB

It won't be long until the snow melts and our season begins, but there is no need to wait until then to practice.

Please check our website for our preseason clinics at td9holers.com.

Later in May, all three Tahoe Donner golf clubs – the Men's and Women's Golf Clubs and the Women’s 9-Holers – are planning a joint welcome social on May 26. We will send emails and post details on our website once they are finalized.

The TDMGC provides a variety of events throughout the summer, with something for everyone. We have socials, weekly Wednesday games, events for family and friends and team events. We also provide opportunities to prove your individual skills at the Match Play and Club Championships. Here are just a few of the over 30 events we offer:

While you are at it, watch for our club’s season kick-off, "Tee Off Orientation," followed by our first summer brunch, where we reconnect with our returning players and meet new members. If you haven't yet signed up for your 2024 membership, you still have time. The TD Women’s 9-Holers Club is a friendly, supportive group and a great way to meet new friends, improve your game and be done before noon! One new thing we will be exploring this season is a post-golf coffee social on the Pavilion. Hope to see you there!

SUMMER 2024

May 26 – Kickoff Social

June 9 – Ice Breaker (Season Opening Tournament) Aug. 17-18 – Club Championship Weekend Sept. 5-7 – Invitational

For more information about the Men’s Golf Club and how to establish membership, visit tdgolfclub.com or contact Membership Chair Michael O’Connell via email at oconnell.tdgolf@gmail.com. We look forward to seeing you in 2024.

The quilting group meets on the first and third Wednesdays of the month.

Please note: Our first May meeting on May 1 will be in the Alder room at The Lodge Restaurant & Pub from 1-3PM, while the second one on May 15 will take place at Pizza on the Hill as we transition to our summer location and hours of 3-5PM. If you want to find out more about what we do, please email me at odette.turmel@gmail.com. Bring your ideas, questions and show and tell; we always enjoy seeing what is on your design board.

MEMBER-EXCLUSIVE BOGO DINING DEALS Members who present a valid member ID card can enjoy 50% off their second entrée at The Lodge Restaurant & Pub or a free second pizza at Pizza on the Hill throughout May.

Some restrictions apply. See details on page 8.

TAHOE DONNER NEWS |

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THE

BUZZ: 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 The Lodge Restaurant & Pub is an award-winning neighborhood bistro with a hand-picked wine selection, craft cocktails and a fresh menu featuring local and organic meat and produce.

Order dinner, drinks and desserts the whole family is sure to enjoy.

HOURS

RESTAURANT & PUB Wednesday-Sunday | 5-8:30PM MEMORIAL WEEKEND LUNCH May 25-27 | 11:30AM-3PM Served in The Lodge Restaurant & Pub VOTED BEST KID-FRIENDLY RESTAURANT BY SIERRA SUN READERS!

Pizza on the Hill serves up delicious menu options for the whole family, including fresh pizza, pasta, appetizers, salads and more.

HOURS

Friday-Monday | 4-8PM Reservations recommended. To make a reservation, call (530) 582-9669.

HAPPY HOUR

FRIDAY-MONDAY | 4-5PM

Enjoy $5 beer and wine plus 25% off appetizers – available for dine-in and takeout orders.

MEMBER-EXCLUSIVE BOGO DINING DEAL MAY 1-JUNE 11

Members! Enjoy your second pizza for free Friday-Monday at Pizza on the Hill starting May 1 through June 11.

Bring the whole family down to take advantage of this exclusive BOGO deal, plus the daily happy hour from 4-5PM featuring $5 drafts and house wine and 25% off all appetizers. Must present valid member ID card at the time of purchase.

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

PAVILION Daily starting June 1 | 10AM-5PM Lunch available until 4:30PM SNACK BAR Daily starting June 1 | 7AM-4:30PM Breakfast available until 10AM

Alder Creek Cafe, located in Alder Creek Adventure Center, is known for delicious, healthy options featuring seasonal and organic ingredients. The Trailside Bar offers a variety of unique draft and bottled beers and a diverse wine list.

HOURS

OPENING MAY 24

GRAB + GO* Daily starting May 24 | 11AM-3PM LUNCH* Daily starting May 24 | 11AM-3PM

EDI-BŌL + TRIVIA NIGHT To be determined, starting in June

TRAILSIDE BAR Daily starting May 24 | 11AM-4PM

*Limited menu and offerings until later in the season; visit the website for the most up-to-date information.

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

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

HAPPY HOUR

WEDNESDAY-SUNDAY | 5-6PM

Happy hour at The Lodge Pub is back with $7 draft beer, $8 house wine and well cocktails, plus 25% off the pub menu. Not available May 24-26.

MEMBER-EXCLUSIVE BOGO DINING DEAL MAY 1-JUNE 13

Members can enjoy 50% off a second entrée of equal or lesser value through June 13. Restrictions apply; all parties must be members to receive promotional discount and present a valid Member ID card. Reservations recommended. Not available May 24-26.

NO CORKAGE WEDNESDAY Enjoy a waived corkage fee for wines brought from home. Not valid during holiday periods or for banquets or private parties.

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

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 MAY 24 MAY 24-OCT. 6 Daily | 11AM-6PM

Opening day is conditions permitting.

The Marina Grill will offer limited food selections from May 24-June 15 and will only offer snacks and drinks from Sept. 3-Oct. 6.

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

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9

FEATURE

HELP KEEP THE GREEN WASTE COMMUNITY CLEAN + GREEN RECYCLING + GREEN WASTE IN TAHOE DONNER

By CYNTHIA CENDREDA A vital part of preserving the beauty of this unique mountain community is the proper disposal of trash, recycling and yard/green waste. With scavenging wildlife and wildfire concerns, it’s essential that property owners take measures to ensure that all household yard waste and

CHIPPING PROGRAM GREEN WASTE All green waste pick-up, ROLLING CARTS including piles eligible for chipping, is now managed

by Truckee Fire Protection District (TFPD) through Measure T funding. Tahoe Donner residents must request green waste pick-up online via truckeefire.org/greenwaste.

A list of eligible green waste materials and pile requirements is also available on the TFPD website.

recycling are appropriately and securely stored until the scheduled time of pickup. Below are guidelines for waste disposal and recycling.

RECYCLING BLUE BAG RECYCLING

Weekly curbside pickup continues year-round. Place blue bags next to your garbage can to prevent overage costs.

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

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.

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.

A Tahoe Donner green waste drop-off day will take place on Friday, May 31 from 8AM-1PM in the Trout Creek Recreation Center parking lot. See page 22 for details.

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

GREEN WASTE DUMPSTER REBATE

Six-yard green waste dumpsters are available by reservation for one-week rentals at keeptruckeegreen.org. Funds from Measure T will reimburse you up to $75 towards the cost of a six-yard green waste dumpster rental so you can remove vegetation and create defensible space around your home. Simply provide a paid receipt from the Eastern Regional Landfill and the Truckee Fire Protection District will reimburse you up to $75 – while funds last! See details at truckeefire.org/defensiblespace-rebate-program.

OTHER SERVICES

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

TWO SCHEDULED BULKY-ITEM PICKUPS PER YEAR 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.

EXTRA CANS

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PICKUP OF ROLLING CARTS + STORAGE Fee will be charged.

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

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

11

Dear Members, On behalf of the Tahoe Donner Association Board of Directors and our management team, we are pleased to provide you with the 2023 Tahoe Donner Annual Report. This report includes the Association's 2023 audited financial statements and footnotes along with a wealth of additional information about your homeowners association. We encourage you to carefully review this material to become more familiar with the Association’s operating performance and financial condition.

Calendar 2023 started with near-record amounts of snow while this last December was unusually dry. We mention this to remind you that Tahoe Donner’s financial performance closely aligns with the weather in the Sierra. Poor winter snow conditions negatively affect our skiing operations while late, deep snow cover and wildfire smoke adversely affect our golf and summer amenities.

ALLIE BALLESTEROS

For fiscal 2023, the Association’s Operating Revenue, including the Operating Fund portion of the Annual Assessment, totaled $24.49 million.

Total Operating Expenses (including income taxes) was $24.84 million resulting in an excess of expenses over revenues of $342,963 in our Operating Fund. Key factors affecting this performance included significantly higher insurance costs, below budgeted revenue at our summer operations due to the weatherinduced late start to the season, and higher than budgeted seasonal employee housing expenses.

TDA maintains a cash contingency account to cover shortfalls, if any, in our annual Operating Fund. After covering the 2023 Operating Fund deficit the contingency fund balance is approximately $2.5 million.

Tahoe Donner Association is over 50 years old.

Several of our facilities were built in the early 1970s and are no longer fit for purpose and must be replaced or significantly upgraded. The board and the management team are committed to continuously improving our amenities and service offerings to deliver member value and member enjoyment. In 2023 we completed a $1.3 million investment in snowmaking at our Cross Country Ski Center which was vital to operations given the poor snow conditions in December 2023.

Similarly, prior investment in snowmaking at the Downhill Ski Resort ensured we were able to open and offer services. The new outdoor pavilion at The Lodge was completed and received strong

praise from members and guests. In addition to these and other completed projects, the management team progressed planning on important capital improvement initiatives including the Beach Club Marina deck expansion and the new lodge at our downhill ski operation to replace the 50+ year old facility. The TDA board and management team continue to review selected capital projects expected to be funded from our accumulated capital reserves and regular assessments without resorting to a special assessment.

The Association maintains several cash and investment accounts to fund our operating and capital improvement requirements. On December 31, 2023, total cash and investments to support our current and future needs totaled $44.7 million, an increase of 9.3% from year end 2022. This level of available funding is the highest in Tahoe Donner’s history. These reserves will help us renew and refresh amenities to address (i) increased member demand, (ii) budding recreational interests, (iii) new building code requirements, and (iv) the safety of our members, guests, and staff. Continuous, thoughtful investment in our Association – built on this strong financial foundation – better prepares us for the future, enhances member and guest experience, and leads to stronger home values.

Finally, Tahoe Donner continues its strong financial position with $83.3 million in total Members’ Equity or approximately $12,874 per property (up $6.2 million, or 7% from 2022).

Each year, we are reminded of how our talented staff and passionate member volunteers continue to shape our Association for the better. Whether Tahoe Donner is where you reside full-time, where you enjoy your vacation getaways, or something in between, thank you for joining us in the neighborhood.

Sincerely, Annie Rosenfeld General Manager arosenfeld@tahoedonner.com Stephen M. Mahoney Treasurer, Board of Directors smahoney@tahoedonner.com tahoedonner.com/financials

2023

ANNUAL REPORT

$12,874

PER OWNER MEMBER EQUITY A 7% INCREASE FROM 2022

$6.9 MILLION

IN CAPITAL EXPENDITURES

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

$2.5 MILLION

IN OPERATING FUND RESERVES A PROVEN NECESSARY CONTINGENCY FUND BALANCE

-$342,963

NET OPERATING DEFICIT TO BUDGET AFTER SECOND-DRIEST NOVEMBER-DECEMBER IN RECENT HISTORY 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.

OPERATING FUND RESULT: -$342,963 DEFICIT TO BUDGET

Dear Members, The purpose of this Annual Report is to provide a comprehensive report on Tahoe Donner Association’s 2023 financial results.

The period of November-December 2023 has been noted as the second-driest in recent history, which deterred visitation to the Tahoe region and ski areas.

The consolidated Operating Fund generated a deficit to Budget of -$342,963.

The early-year surplus from the near-record-breaking snowfall of winter 2022/23 was offset by a delayed golf course opening and the lack of snowfall impacting winter 2023/24 operations.

$17.6 MILLION OPERATING REVENUES 2.5% greater than Budget and 0% (flat) to 2022

$24.8 MILLION OPERATING COSTS

Revenue finished $421,340 positive to Budget, a majority of that being increased sales of Recreation Fee passes, which came in $293,000 positive to Budget.

Food + Beverage and retail also exceeded expectations, each ending at over $100,000 favorable to budgeted revenue. Increases in revenue were offset with employee housing (-$290,000), general insurance (-$98,000) and employee burden including health insurance and workers compensation (-$97,000) exceeding budgeted expense.

-3.1% unfavorable to Budget and -3.8% unfavorable to 2022

$6.9 MILLION CAPITAL FUNDS EXPENDITURES Up $300,000, or 0.4% from 2022

$6.9 MILLION | $1,065 PER OWNER

Annual Assessment Contribution to Operating Fund in 2023, up $119 per owner from 2022

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.

$10.1 MILLION | $1,559 PER OWNER

Annual Assessment Contribution to Capital Funds in 2023, up $156 per owner from 2022

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

$94.6 MILLION TOTAL ASSETS Up $5.7 million, or 6.4% to 2022

$83.3 MILLION | $12,874 PER OWNER

STEVE HOGAN, Controller, Accounting + Business Support shogan@tahoedonner.com | (530) 587-9418

Members’ Equity as of Dec. 31, 2023, up 7% from 2022

OPERATING FUND

NET OPERATING RESULTS – 2023 VARIANCES TO BUDGET NOR UNFAVORABLE TO BUDGET -$342,963 | -4.97% | -$52.98 PER OWNER JANUARY-APRIL

• Revenues favorable $299,040, or 3.85% to Budget.

Near-record-breaking snowfall led to great ski conditions and operational challenges. Conditions allowed the Downhill Ski Resort to stay open for an additional week in April. This period saw 41,591 downhill skier visits and 39,549 cross country skier visits.

• Total Operating Expenses (COGS, Payroll and Other Operating Expenses) were favorable $79,754, or 1% to Budget.

MAY-SEPTEMBER

• Revenues were -$93,629, or -1.3% unfavorable to Budget.

Intense snowpack delayed the opening of the Golf Course until late June, with only 9 holes open for the first few weeks. Reduced pricing continued through early July when course conditions justified full pricing. Labor savings were captured from the delayed hiring of summer course maintenance staff.

• Total Operating Expenses (COGS, Payroll and Other Operating Expenses) were unfavorable to Budget by -$40,759, or -0.4%.

OCTOBER-DECEMBER

• Revenues were favorable to Budget by $215,928.

Minimal snowpack challenged winter operations, but recent snowmaking investments allowed for Downhill Ski Resort to operate Snowbird Chairlift and Cross Country Ski Center to open 3km of trail. Food + Beverage saw strong revenue in this period, up $41,000, or 6% to Budget.

• Total Operating Expenses (COGS, Payroll and Other Operating Expenses) were unfavorable to Budget by -$803,299.

• Net Operating Result favorable $378,795, or 61% to Budget.

• Net Operating Result unfavorable -$134,387 to Budget, or -3.6%.

• Net Operating Result was unfavorable to Budget by -$587,371.

REVENUE AND PAYROLL

Chart dollars in thousands

OPERATING REVENUES

2019 $ 14,695,538

2020 $ 9,456,935

2021 $ 13,248,144

2022 $ 17,571,487

2023 $ 17,605,695

$18,000

EMPLOYEE W-2s ISSUED

954

695

710

844

867

$14,000

W-2s PER $1,000 REVENUE RATIO

6%

7%

5%

5%

5%

AVERAGE WAGES PER W-2 ISSUED

$

11,086

$

10,260

$

13,737

$

14,058

$

14,106

CALIFORNIA MINIMUM WAGE (1)

$

12.00

$

13.00

$

14.00

$

15.00

$

15.50

SEASONAL/PART-TIME FTE (3)

123.0

79.0

109.0

125.9

136.0

FULL-TIME REGULAR (2) FTE (3)

83.0

62.0

46.0

46.0

57.0

FTE (3) TOTAL

206.0

141.0

155.0

171.9

193.0

OPERATING REVENUE PER FTE W-2 TO FTE RATIO

$

71,338 4.6

$

67,070 4.9

$

85,472 4.6

$

102,218 4.9

$

91,221 4.5

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 and into 2023 saw recruitment return to pre-COVID 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, $15.00 per hour in 2022 and $15.50 per hour in 2023.

(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 2023 ANNUAL REPORT

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

$0 2022 ACTUAL 2023 BUDGET 2023 ACTUAL OPERATING REVENUE OPERATING PAYROLL

2023 ACTUAL VERSUS BUDGET REVENUE UP 2.5%, PAYROLL COSTS DOWN -3.0% 2023 ACTUAL VERSUS PRIOR YEAR REVENUE UP 0.2%, PAYROLL COSTS UP 3.6%

CALIFORNIA MINIMUM WAGE UP $0.50, OR 3%, IN 2023 VERSUS 2022

ANNUAL ASSESSMENT

DISTRIBUTION OF 2023 ANNUAL ASSESSMENT

DISTRIBUTION OF 2023 ANNUAL ASSESSMENT ($2,624 PER OWNER) $2,624 PER OWNER $1,800

60% / $1,559

GRAY BARS ARE 2024 ANNUAL ASSESSMENT BUDGET ($2,907 IN TOTAL) FOR COMPARISON

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

42% / $1,089

$1,000

$1,736

$1,228

$800 $600 $400

8% / $186

$200

$240

$0 -$200

-3% / -$44

-7% / -$166

-$98

HOA SERVICES FOR MEMBERS

HOA FORESTRY + FIRE PREVENTION

-$199

PRIVATE AMENITIES

PUBLIC AMENITIES

RESERVE CAPITAL FUNDS

ANNUAL ASSESSMENT OWNER

BY FUND ANNUAL ASSESSMENT PER PER OWNER

BY FUND $1,186

2024

$854

$1,065

2023 2022

$940

2018

$595

$1,074

2016

$

$200

$30

$434

$791

2013

$400

$600

$800

OPERATING

$300

$1,000

$1,200

$250

$250

$1,400

$250

$2,065 $1,965

$1,900 $1,900

$1,800

Capital portion 47% in 2013

$1,505

$1,800 $2,000 $2,200 $2,400 $2,600 $2,800 $3,000 $3,200 NEW EQUIPMENT

KEY NOTES Capital Funds Portion of Annual Assessment

2014-2023

2013-2023

CAPITAL FUNDS

8.3%

8.1%

OPERATING FUND

2.6%

3.0%

TOTAL ASSESSMENT 5.7%

5.7%

11 YEAR

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

$2,241

$1,600 $1,600

$2,624

$1,900

$250

$30

REPLACEMENT RESERVE

COMPOUND ANNUAL GROWTH RATE (CAGR) METRICS 10 YEAR

$310

$30

$30 $30

$478

$842

2014

$355 $335

$30

$546 $526

$994

2015

$30

$620

$975

2017

$30

$720

$2,907

$2,349

$444

$770

$880

2019

$555

$801

$910

2020

$694

$848

$996

2021

$867

$865

$946

Capital portion 59% in 2024

• 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.

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.

DEVELOPMENT

Operating Fund Portion of Annual Assessment • 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 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.

• For 2023, the Operating Fund portion increased $119 per owner with presumed construction on the Downhill Ski Lodge impacting winter operations, as well as increased utility and insurance costs.

More Operating Fund historical information on page 4

More Capital Funds historical information on pages 10-11

TAHOE DONNER 2023 ANNUAL REPORT |

3

OPERATING OPERATING FUND FUND

CAGR = COMPOUND ANNUAL GROWTH RATE

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)

2013

2014

2015

2016

OPERATING REVENUES

2017

2019

2018

OPERATING COSTS

2020

2021

2022

2023

NET OPERATING RESULTS

Revenue finished the year $421,000 favorable to Budget, while Utilities, Supplies + Maintenance and Staff Retention + Incentives saw total expenses exceed Budget by $764,000.

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 RESULTS NET RESULTS, CONTINGENCY OPERATING FUNDNET ACCUMULATED + $696,534 favorable results in 2020

$5,000,000

- $696,534 transfer to Development Fund +$

$4,000,000

0 (A) 2020 change in Operating Fund equity

+ $850,213 favorable results in 2021

(A)

$3,000,000

(B)

- $750,000 transfers

(C) (D)

$2,000,000

+ $100,213 (B) 2021 change in Operating Fund equity ($250,000 used to fund 2022 employee retention and incentives.

In 2024, $400,000 of surplus transfered to Replacement Reserve Fund and $100,000 transfered to New Machinery Fund.)

- $233,842 unfavorable results in 2022 - $

$1,000,000

0 transfers

- $233,842 (C) 2022 change in Operating Fund equity - $342,963 unfavorable results in 2023

$0

- $

2013

2014

2015

2016

FROM THE 2014 BUDGET TO THE 2023 BUDGET 10-YEAR CAGR 8.7% OPERATING REVENUE GROWTH 6.9% OPERATING COSTS GROWTH 3.6% 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 2023 ANNUAL REPORT

2017

2018

2019

2020

2021

2022

0 transfers

2023

- $342,963 (D) 2023 change in Operating Fund equity

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.

FOR 2024 BUDGET The 2024 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

-4,721 -4,596 -82,455

TENNIS CENTER

-449,934 -437,945 -148,117

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

-114,870 -111,809 -88,189

ALDER CREEK CAFE

-134,766 -131,175 -216,629

PIZZA ON THE HILL

177,817 173,079 22,323

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

Refer to pages 6 and 7 for additional details.

-1,594,187 -1,551,707 -1,093,894

2023 ACTUAL -$12,835,594 2023 BUDGET -$12,493,566 2022 ACTUAL -$11,843,902

21,900 21,316

SNOWPLAY

69,699 67,842 93,628

CROSS COUNTRY SKI CENTER

370,966 361,081 479,746

-78,434 -76,344 -66,086

BIKEWORKS

-541,442 -527,014 -312,916

TRAILS

-208,767 -203,204 -264,520

EQUESTRIAN CENTER

-40,776

-981,922 -955,757 -1,167,082

DOWNHILL SKI RESORT

AMENITIES

-$1,500,000

-351,950 -342,572 -172,954

-$1,000,000

CAMPGROUND

GOLF COURSE

1,451,540 1,412,861 923,754

HOA + ADMINISTRATION

-$2,000,000

THE LODGE, DINING + BANQUETS, SUMMER F+B

-$500,000 NEGATIVE

ARCHITECTURAL + MEMBER SERVICES

-1,835,434 -1,786,526 -1,797,104

FORESTRY, DEFENSIBLE + OPEN SPACE

-1,150,987 -1,120,317 -1,374,761

GENERAL HOMEOWNERS ASSOCIATION

$0

$500,000

$1,00,000

$1,500,000

POSITIVE

TAHOE DONNER 2023 ANNUAL REPORT |

5

OPERATING FUND RESULTS

2023 DEPARTMENTAL SUMMARY 2023 OPERATING FUND OPERATING COSTS TOTAL

GROSS REVENUE

AMOUNTS INCLUDING NET OPERATING RESULT

2023 NET RESULTS AFTER RRF

CONTRIBUTION TO REPLACEMENT RESERVE FUND

PRIVATE AMENITIES Trout Creek Recreation Center + Aquatics

$ 1,645,652

$

$

-1,565,328

80,324

$ -634,645

$

-554,322

Beach Club Marina

776,646

-537,841

238,804

-60,987

177,817

Tennis Center

485,055

-437,879

47,175

-51,897

-4,721

Recreation Programs

229,777

-221,933

7,844

-67,926

-60,082

Day Camps

378,388

-213,919

164,469

0

164,469

3,515,517

-2,976,900

538,617

-815,455

-276,839

Golf Course

1,327,568

-1,645,229

-317,661

-664,261

-981,922

Downhill Ski Resort

5,756,212

-4,037,795

1,718,417

-266,877

1,451,540

Cross Country Ski Center

TOTAL PRIVATE AMENITIES

PUBLIC AMENITIES

1,775,096

-1,181,081

594,014

-223,049

370,966

Snowplay

253,791

-184,092

69,699

0

69,699

Campground

135,453

-111,029

24,424

-2,524

21,900

Equestrian Center

169,896

-363,193

-193,297

-15,470

-208,767

95

-271,097

-271,002

-270,440

-541,442

223,398

-252,815

-29,417

-49,017

-78,434

2,053,198

-2,682,024

-628,825

-826,069

-1,454,895

298,703

-437,996

-139,292

0

-139,292

Pizza on the Hill

540,182

-669,483

-129,301

-5,465

-134,766

Alder Creek Cafe

422,497

-532,370

-109,873

-4,997

-114,870

TOTAL PUBLIC AMENITIES

12,956,089

-12,368,203

587,886

-2,328,168

-1,740,282

TOTAL AMENITIES

16,471,606

-15,345,103

1,126,503

-3,143,624

-2,017,121

0

-922,781

-922,781

-228,206

-1,150,987

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

HOMEOWNERS ASSOCIATION General HOA Community Standards Office

157,534

-509,484

-351,950

0

-351,950

Forestry, Defensible + Open Space

297,891

-1,663,181

-1,365,290

-470,144

-1,835,434

TOTAL HOMEOWNERS ASSOCIATION

455,425

-3,095,446

-2,640,022

-698,350

-3,338,372

293,347

-909,472

-616,124

0

-616,124

0

-477,553

-477,553

-268,476

-746,029

AMENITY + HOA SUPPORT SERVICES Communications Facility Administration + Risk Management

353,390

-1,175,175

-821,785

-185,783

-1,007,567

Information Technology

0

-764,453

-764,453

-776,252

-1,540,705

Accounting + Finance

0

-1,074,953

-1,074,953

0

-1,074,953

Human Resources

0

-565,049

-565,049

0

-565,049

Member Services

31,927

-354,260

-322,333

0

-322,333

0

-1,080,939

-1,080,939

-526,402

-1,607,341

TOTAL SUPPORT SERVICES

678,665

-6,401,854

-5,723,189

-1,756,912

-7,480,101

TOTAL OPERATING RESULTS

17,605,695

-24,842,403

-7,236,708

-5,598,886

-12,835,594

Administration

Maintenance

Assessment Revenues

TOTAL OPERATING FUND

6 | TAHOE DONNER 2023 ANNUAL REPORT

6,893,745

0

$ 24,499,440

$ -24,842,403

$

6,893,745

0

6,893,745

-342,963

$ -5,598,886

$ -5,941,849

YEAR ENDING DECEMBER 31, 2023 REPLACEMENT RESERVE CAPITAL CONTRIBUTION 2023 PER PROPERTY 6,473

2022 PER PROPERTY 6,473

$

$

-86

2023 NOR VERSUS PRIOR YEAR

2023 VS 2022 ACTUAL

2023 BUDGET

2023 VS BUDGET

2022 ACTUAL

$

-55

-94,605

174,929

$ 343,258

2023 VS 2022

$

-262,935

27

3

24

205,977

32,827

173,910

64,895

-1

-13

12

41,779

5,396

51,026

-3,851

-9

-9

0

-32,309

40,153

-59,045

66,888

25

17

9

80,729

83,740

106,989

57,481

-43

-32

-11

201,571

337,046

616,138

-77,522

-152

-180

29

-252,639

-65,022

-236,359

-81,302

224

143

82

1,384,534

333,883

1,865,995

-147,577

57

74

-17

842,123

-248,109

896,311

-302,297

11

14

-4

121,008

-51,309

114,989

-45,290

3

-6

10

16,985

7,439

-4,429

28,852

-32

-41

9

-145,278

-48,019

-191,498

-1,799

-84

-48

-35

-266,149

-4,853

-76,928

-194,074

-12

-10

-2

9,101

-38,518

-39,699

10,282

-225

-165

-60

-589,452

-39,373

-859,699

230,874

-22

-4

-18

-24,297

-114,995

-24,178

-115,114

-21

-33

13

-136,858

7,557

-172,363

43,063

-18

-14

-4

-73,250

-36,623

-73,576

-36,297

-269

-271

2

885,828

-297,942

1,198,566

-610,680

-312

-303

-9

1,087,399

39,104

1,814,704

-688,202

-178

-212

35

-461,287

-461,494

-824,814

-97,967

-54

-27

-28

-265,677

-86,273

-172,954

-178,996

-284

-278

-6

-1,218,021

-147,269

-1,526,868

161,577

-516

-517

1

-1,944,985

-695,037

-2,524,635

-115,386

-95

-75

0

-636,638

20,514

-484,528

-131,596

-115

-98

0

-469,713

-7,840

-631,592

154,038

-156

-195

0

-1,166,450

344,665

-1,264,507

442,722

-238

-224

0

-863,396

98,943

-807,189

42,735

-166

-144

0

-1,091,991

17,038

-934,087

-140,866

-87

-74

0

-550,688

-14,361

-480,723

-84,326

-50

-43

0

-373,630

51,297

-280,551

-41,781

-248

-156

0

-883,653

-197,286

-761,690

-319,249

-1,156

-1,010

0

-6,036,159

312,970

-5,644,867

-78,322

-827

-820

-8

-6,893,745

-342,963

-6,354,798

-881,910

946

119

6,893,745

0

126

$ 111

0

-342,963

1,065 $

-30

2023 NOR VERSUS BUDGET

238

$

$

6,120,956

772,789

-233,842

$ -109,121

SEE PAGES 8-9 FOR RESULTS BY DEPARTMENT HIGHLIGHTS TAHOE DONNER 2023 ANNUAL REPORT |

7

OPERATING FUND RESULTS

2023 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 ALDER CREEK CAFE

DOWNHILL SKI RESORT

PIZZA ON THE HILL

NOR LOSS ($109,873)

NOR $ 1,718,417

NOR LOSS ($129,301)

UNFAVORABLE -$36,623 / -50% TO BUDGET

FAVORABLE $333,883 / 24% TO BUDGET

FAVORABLE $7,557 / 6% TO BUDGET

Strong revenues came in $67,000, or 17%, favorable to Budget. Increased staffing cost contributed to labor expense exceeding Budget by $50,000, along with increased utility usage and cost $15,000 unfavorable to Budget.

Near-record-breaking snowfall in early 2023 contributed to strong visitation. Revenue was 24% better than Budget. Expenses were -3% unfavorable to Budget mostly due to extra labor required for snow load management.

Bingo Night, Music by the Meadow and Trivia Night events brought a new energy and increased awareness and visitation to the re-opened (end of 2021) amenity.

BIKEWORKS

EQUESTRIAN CENTER

NOR LOSS ($29,417)

NOR LOSS ($193,297)

UNFAVORABLE -$38,518 / -423% TO BUDGET

UNFAVORABLE -$48,019 / -33% TO BUDGET

Bike rental revenues were 28% favorable to Budget, supported by the introduction of e-bikes to the rental fleet. Higher cost of goods and labor combined to exceed Budget by $73,000, or 45%.

Revenue was favorable to Budget by 8%.

Considerable increases in feed cost and veterinary expenses contributed to operating cost exceeding Budget by $59,000, or 19%.

Extremely challenging weather contributed to a reduction in visitation and a shortfall of revenues of $47,000. Additional cost of $7,500 recognized in snow grooming machine maintenance.

GOLF COURSE

SUMMER F+B

NOR ($317,661)

NOR LOSS ($139,292)

CAMPGROUND NOR $24,424 FAVORABLE $7,439 / 44% TO BUDGET A smoke-free summer drove an increase in campers and revenue came in $16,000 favorable to Budget. Disposal, sewer and electric costs were increased due to higher visitation, ending $12,000 unfavorable to Budget.

CROSS COUNTRY SKI CENTER NOR $594,014 UNFAVORABLE -$248,109 / -29% TO BUDGET Reduction in season pass sales, challenging early 2023 weather conditions and a dry beginning to winter 2023/24 led to revenues falling short to Budget of $302,000.

8 | TAHOE DONNER 2023 ANNUAL REPORT

SNOWPLAY NOR $69,699 UNFAVORABLE -$51,309 / -42% TO BUDGET

UNFAVORABLE -$65,022 / -26% TO BUDGET

UNFAVORABLE -$114,995 / -473% TO BUDGET

Delayed opening due to immense snowpack, along with reduced pricing for the first few weeks of operation impacted revenues. Strong retail sales – $33,000 favorable to budget – helped offset the loss of greens fees.

Despite a delayed opening, revenues finished $5,000, or 2%, favorable to Budget. Operating expenses exceeded Budget by 38%, mostly due to increased employee housing costs recorded in this department.

THE LODGE

TRAILS

NOR LOSS ($628,825)

NOR LOSS ($271,002)

UNFAVORABLE -$39,373 / -7% TO BUDGET Revenue was -2.1% unfavorable to Budget, impacted by delayed opening of the Pavilion and the reduction in banquet revenue. Utilities continued to increase with expenses -$15,000, or 15%, unfavorable to Budget.

UNFAVORABLE -$4,853 / -2% TO BUDGET Staff training and certifications accounted for an additional $4,700, while labor was managed to within 0.46% of Budget.

PRIVATE AMENITIES

SUPPORT SERVICES

BEACH CLUB MARINA

COMMUNICATIONS

NOR $238,804

NOR LOSS ($616,124)

FAVORABLE $32,827 / 16% TO BUDGET

FAVORABLE $20,514 / 3% TO BUDGET

Mostly favorable weather and a smoke-free summer resulted in revenues that were 1.8% favorable to Budget.

Advertising and sponsorship revenue increased $49,000, or 14% to Budget. Salaries and wages were -$14,000 unfavorable to Budget.

DAY CAMPS

COMMUNITY STANDARDS OFFICE

NOR $164,469

NOR LOSS ($351,950)

FAVORABLE $83,740 / 104% TO BUDGET

UNFAVORABLE -$86,273 / -32% TO BUDGET

Once again, sold-out Summer Camps resulted in revenue $55,000, or 18%, better than Budget. Operating expenses were $21,000, or 9%, favorable to Budget.

Total revenue was unfavorable to Budget by -$191,000, mostly due to a reduction in fine revenue. There were payroll savings of $116,000 with multiple vacant positions throughout the year.

RECREATION PROGRAMS

FORESTRY

NOR LOSS $7,844

NOR LOSS ($1,365,290)

FAVORABLE $40,153 / 124% TO BUDGET

UNFAVORABLE -$147,269 / -12% TO BUDGET

Event revenue was $18,500, or 11% favorable to Budget. Salaries and wages were favorable to Budget by $17,000. Supplies and maintenance were -$15,000 unfavorable to Budget.

CAL FIRE grant recorded as revenue with expenses offset to defensible space. Salaries and wages were -$137,000, or -21%, unfavorable to Budget with additional defensible space projects completed.

TENNIS CENTER

MAINTENANCE

NOR $47,175

NOR LOSS ($1,080,393)

FAVORABLE $5,396 / 13% TO BUDGET

UNFAVORABLE -$197,286 / -22% TO BUDGET

Along with other outdoor summer amenities, favorable weather led to revenues coming in 6.3% favorable to Budget.

Total payroll was -$76,000 unfavorable to Budget with additional labor required to clear early 2023 immense snowpack, along with increased fuel and vehicle maintenance to manage the snow load.

NOR $80,324 FAVORABLE $174,929 / 185% TO BUDGET TROUT CREEK REC CENTER: NOR favorable to Budget by $135,825 mostly due to higher-than-anticipated Recreation Fee revenue and daily use entry fees.

AQUATICS: NOR favorable to Budget by $39,104 due to savings on seasonal labor and lower utility expenses.

I.T., FINANCE + HUMAN RESOURCES NOR LOSS ($2,404,455)

ALPINE MEDIA HOUSE

TROUT CREEK REC CENTER + AQUATICS

FAVORABLE $101,620 / 0% TO BUDGET Salaries and wages were $29,000 favorable to Budget with vacant positions throughout the year. Employee retention programs, including 401k match and health insurance costs, were -$21,000 unfavorable to Budget, but were offset with other operating costs savings.

TAHOE DONNER 2023 ANNUAL REPORT |

9

CAPITAL RESERVES

REPLACEMENT RESERVE FUND REPLACEMENT RESERVE FUND

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

45%

$16,000,000

38%

$14,000,000

25%

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

26%

39%

36%

33%

$12,000,000

38%

35%

32% 29%

28%

40%

30% 25%

19%

20%

$6,000,000

15%

$4,000,000

10%

$2,000,000

5%

$0

2013 2014 2015 2016 2017 • 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 by staff. A complete physical inspection of all components is performed every three years and last occurred in 2022.

• 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.

PERCENT FUNDED*

YEAR-END MEMBERS’ EQUITY BALANCE

$18,000,000

0% 2018 2019 2020 2021 2022 2023 • 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 2023 assessment funding level was $865 per owner, or $5,599,145, an increase of 2% over 2022.

• The 2024 assessment funding level was $854 per owner, or $5,527,942, a decrease of 1% over 2023. An additional $400,000 was funded from the 2021 surplus. *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 2024 Budget Report for more information on the Reserve Schedule).

DEVELOPMENT FUND DEVELOPMENT FUND

MEMBERS EQUITY (FUND BALANCE) MEMBERS’ EQUITY (YEAR-END FUND BALANCE) $18,000,000

$16,000,000 $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $0

2013

2014

2015

2016

2017

• 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 2023 ANNUAL REPORT

2018

2019

2020

2021

2022

2023

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

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

• The 2024 assessment funding level was $867 per owner, or $5,612,091, an increase of 25% over 2023.

CAPITAL FUNDS CAPITAL EXPENDITURES EXPENDITURES BY YEAR

10 YEAR TOTAL = $52.4 MILLION

CAPITAL FUNDS

$9,000,000 EXPENDITURES

BY YEAR

10-YEAR TOTAL = $52.4 MILLION

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

6.6M

6.9M

6.1M 5.4M

$5,000,000

4.1M

$4,000,000

5.3M

5.3M

4.7M

4.2M

3.9M

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

2014

2015

2016

2017

REPLACEMENT RESERVE FUND

Ten-year total spend of $52.4 million equates to an average of $5.24 million in Capital Fund expenditures per year. The 10-year average depreciation expense is $3.03 million per year for a total of $30.3 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 2.9% for net fixed assets.

Net fixed assets grew from $35.0 million at the end of 2013 to $47.0 million at the end of 2023. Your Association has invested in fixed assets to improve member enjoyment and protect home values.

THE BOARD HAS A FIDUCIARY

2018

2019

2020

2021

DEVELOPMENT FUND

2022

2023

NEW EQUIPMENT FUND

CAPITAL INVESTMENT OVER THE 10 YEARS INCLUDES:

$36.2 million in replacement and major repairs of existing assets (per reserve study plan)

$3.6 million per year with 10-year average, maintaining existing asset components (depreciation average is $3.0 million)

$3.0 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 2014-2018 average to the 2019-2023 average is due to the overall aging of assets, the impact of Development Fund projects on related reserve components, the Downhill Ski Resort lodge and Cross Country Ski Center snowmaking investments, recent improvements to the parking lot and walkways at The Lodge Restaurant & Pub, as well as investments in updated maintenance equipment.

$14.6 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)

RESPONSIBILITY (BY LAW) TO DO WHAT

Crabtree Canyon land – 640 acres (2016)

NOW AND FOR THE FUTURE. CURRENT

Equestrian campus improvements, Eagle Rock Chairlift building improvements (2018)

IS BEST FOR THE ASSOCIATION, BOTH OWNERS HAVE THE RESPONSIBILITY TO PAY FOR THE DEPRECIATION OF

ASSOCIATION ASSETS, NOT TO DEFER THE

Alder Creek Adventure Center exterior storage building (2017) Trout Creek Recreation Center building expansion (2019-2020) Bermgarten Trailhead paving (2020)

BURDEN TO FUTURE OWNERS. PROPERLY

Downhill Ski Lodge professional services, Cross Country Ski Center snowmaking investment (2021-2023)

OWNERS’ PROPERTY VALUES.

Workforce Housing Feasibility Study (2023)

MAINTAINING OUR ASSETS PROTECTS

Beach Club Marina Deck Expansion Planning (2023)

$1.5 million in New Equipment Fund capital investments $140,000 per-year average

Forestry Tree Masticator (2023)

TAHOE DONNER 2023 ANNUAL REPORT |

11

CAPITAL FUNDS REPLACEMENT RESERVE FUND

39% FUNDED The ratio of the Replacement Reserve Fund balance as of December 31, 2023 and the Replacement Reserve Components current replacement cost estimate (100% Funded Allocation Method) for December 31, 2023.

See page 10 for by-year trends.

$4.9 MILLION | 2023 Expenditures • $425,000 THE LODGE RESTAURANT & PUB parking lot, walkways and snowmelt • $380,000 THE LODGE RESTAURANT & PUB Pavilion and Grotto enhancements • $385,100 MAINTENANCE backhoe loader • $174,250 FORESTRY John Deere bulldozer 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 $70 million.

2023 saw a variance in expense to budget of $4.2 million, mostly due to the delayed beginning of the Downhill Ski Lodge replacement project.

The year-end fund balance increased by $1.5 million, or 9.0%, from 2022. 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 2023 ANNUAL REPORT

DEVELOPMENT FUND $1.6 MILLION | 2023 Expenditures • $804,000 DOWNHILL SKI RESORT lodge replacement project soft costs • $268,500 CROSS COUNTRY SKI CENTER snowmaking project phase • $63,000 ADMINISTRATION workforce housing study • $38,250 BEACH CLUB MARINA deck expansion project soft costs The Development Fund was established and authorized in the governing documents of the Association to accumulate funds for use in the development of – and additions to – 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 2023 was $4,492,262, or $694 per owner, reflecting a 25% increase from 2022.

The year-end fund balance increased by $3,500,000, or 28.0%. Savings in this fund are primarily for the replacement of the aging (50-year-old) Downhill Ski Resort lodge and other future facility replacement or enhancement projects.

NEW EQUIPMENT FUND $379,685 | 2023 Expenditures • $141,000 FORESTRY tree masticator • $101,000 THE LODGE RESTAURANT & PUB Pavilion umbrellas and snack bar improvements • $80,000 ACCOUNTING Domo data platform • $40,000 BIKEWORKS demo e-bikes The New 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 2023. The year-end fund balance of -$113,972 decreased by -$373,000, or -144%, compared to 2022. Of the 2023 expense, $118,000 is to be reimbursed by the Truckee Fire Protection District through an approved grant.

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

Capital additions to fixed assets totaled $5.2 million ($5.4 million in 2022).

Depreciation expense for the year totaled $3.2 million ($2.9 million in 2022).

Total gross fixed asset value of $94.6 million equates to $14,615 per owner and net book value of fixed assets and construction in progress of $47.1 million equates to $7,283 per owner (an increase of $300 from 2022).

CAPITAL FUNDS SUMMARY YEAR ENDING DECEMBER 31, 2023

2023 ACTUAL

2023 BUDGET

2023 ACTUAL VS 2023 BUDGET

2022 ACTUAL

2023 ACTUAL VS 2022 ACTUAL

Beginning Fund Balance

$ 16,075,485

$ 14,778,500

$ 1,296,985

$ 14,797,809

$ 1,277,676

Assessment Contribution

5,599,145

5,598,886

259

5,489,104

110,041

857,417

116,376

741,041

210,108

647,309 -

REPLACEMENT RESERVE FUND

Interest Revenue

-

-

-

-

-78,591

-213,875

135,284

38,921

-117,512

Major Maintenance + Fund Expenses

-1,443,666

-1,957,298

513,632

-964,856

-478,810

Expenditures for Capital Additions

-3,481,307

-7,684,565

4,203,258

-3,495,601

14,294

1,452,998

-4,140,476

5,593,474

1,277,676

175,322

$ 17,528,483

$ 10,638,024

$ 6,890,459

$ 16,075,485

$ 1,452,998

Operating Fund Transfer In Other Revenue + Expense, Net

Change in Fund Balance ENDING FUND BALANCE

NEW MACHINERY + EQUIPMENT FUND $

-31,622

298,521

-

-

-

-

6,827

220

6,607

3,321

3,506

-618

-

-618

-229

-389

-

-

-

-

-

-379,685

-121,000

-258,685

-42,109

-337,576

-373,476

-120,780

-252,696

-39,017

-334,459

170,346

$ -284,318

259,504

291,126

-

Interest Revenue Other Revenue + Expense, Net

Beginning Fund Balance Assessment Contribution

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

$

-113,972

$

$

$

259,504

$

$

-39,017

-373,476

DEVELOPMENT FUND Beginning Fund Balance

12,725,518

13,728,187

-1,002,669

11,031,781

1,693,737

Assessment Contribution

4,492,262

4,492,262

-

3,592,515

899,747

737,511

136,000

601,511

186,477

551,034

-

-

-

-

-

Interest Revenue Operating Surplus Transfer In Other Revenue + Expense, Net

-81,374

-18,000

-63,374

-7,041

-74,333

Fund Expenses

-310,604

-170,000

-140,604

-192,514

-118,090

-1,304,005

-12,809,941

11,505,936

-1,885,700

581,695

3,533,789

-8,369,679

11,903,468

1,693,737

1,840,052

$ 16,259,307

$ 5,358,508

$10,900,799

$ 12,725,518

$ 3,533,789

Expenditures for Capital Additions Change in Fund Balance ENDING FUND BALANCE

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

-1,754,271

-2,127,298

373,027

-1,157,370

-596,901

Expenditures for Capital Additions

-5,164,997

-20,615,506

15,450,509

-5,423,410

258,413

$ -6,919,268

$-22,742,804

$15,823,536

$ -6,580,780

$ -338,488

TOTAL

The variance between Actual and Budget capital expenditures is primarily driven by the timing of projects between years, weather delays and contractor availability. Most notably in 2023 was the delayed construction of the new Downhill Ski Resort lodge.

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 2023 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, 2023, 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, 2023, 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:

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 ’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 ’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 pages 18 and 19 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.

SUMMARIZED COMPARATIVE INFORMATION Information for the year ended December 31, 2022 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 14, 2023.

• Exercise professional judgment and maintain professional skepticism throughout the audit.

McCLINTOCK ACCOUNTANCY CORPORATION

• 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

MARCH 15, 2024

14 | TAHOE DONNER 2023 ANNUAL REPORT

TAHOE CITY, CALIFORNIA

Exhibit A

TAHOE DONNER ASSOCIATION BALANCE SHEET

FOR THE YEAR ENDED DECEMBER 31, 2023 (WITH COMPARATIVE TOTALS FOR 2022)

OPERATING FUND

REPLACEMENT RESERVE FUND

NEW DEVELOPMENT EQUIPMENT FUND FUND

PROPERTY FUND

$

$

TOTAL 2023

TOTAL 2022

-0-

$ 6,694,597

$ 8,481,306

ASSETS Cash and cash equivalents, unrestricted (Note 3)

$ 6,694,597

$

-0-

-0-

$

-0-

Cash and cash equivalents, designated and restricted (Note 3)

210,277

1,313,988

25,480

5,503

-0-

1,555,248

1,329,144

1,481,375

-0-

-0-

-0-

-0-

1,481,375

2,230,403

-0-

18,367,072

-0-

16,564,915

-0-

34,931,987

28,844,693

8,386,249

19,681,060

25,480

16,570,418

-0-

44,663,207

40,885,546

235,223

Investments, unrestricted (Note 3) Investments, designated and restricted (Note 3)

Assessments and other member receivables, less allowance for credit losses of $88,393 in 2023 and $158,049 in 2022

225,721

-0-

-0-

-0-

-0-

225,721

Other receivables

31,514

115,210

-0-

119,709

-0-

266,433

481,481

Inventory

510,431

-0-

-0-

-0-

-0-

510,431

422,559

Prepaid expenses and other assets

1,767,769

36,818

-0-

-0-

-0-

1,804,587

1,632,457

Due from (to) other funds

2,874,876

(2,304,604)

(139,452)

(430,820)

-0-

-0-

-0-

-0-

-0-

-0-

-0-

47,145,272

47,145,272

45,199,170

Property and equipment, net (Note 4)

TOTAL ASSETS

$ 13,796,560 $ 17,528,484

$ (113,972) $ 16,259,307

$ 47,145,272 $ 94,615,651 $ 88,856,436

$

$

LIABILITIES AND FUND BALANCES Liabilities Accounts payable

466,596 $

-0-

Accrued liabilities

-0- $

-0-

1,955,961

Deferred revenue

8,468,043

-0-

-0-

-0-

-0-

1,955,961

1,973,372

-0-

-0-

-0-

-0-

8,468,043

8,483,279

Deposits from members

390,100

-0-

-0-

-0-

-0-

390,100

394,600

TOTAL LIABILITIES

11,280,700

-0-

-0-

-0-

-0-

11,280,700

11,737,939

Fund Balances - Exhibit B

2,515,860

17,528,484

(113,972)

16,259,307

47,145,272

83,334,951

77,118,497

TOTAL LIABILITIES AND FUND BALANCES

$

$ 13,796,560 $ 17,528,484

$ (113,972) $ 16,259,307

-0- $

466,596 $

886,688

$ 47,145,272 $ 94,615,651 $ 88,856,436

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS. TAHOE DONNER 2023 ANNUAL REPORT |

15

Exhibit B

TAHOE DONNER ASSOCIATION

STATEMENTS OF REVENUE AND EXPENSES AND CHANGES IN FUND BALANCES

FOR THE YEAR ENDED DECEMBER 31, 2023 (WITH COMPARATIVE TOTALS FOR 2022) 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 Community standards Forestry Interest income Late charges, handling, transfer fees, and other fees Miscellaneous income TOTAL REVENUE

$

REPLACEMENT RESERVE FUND

6,893,745 5,756,212 253,791 2,351,902 1,775,096 1,645,652 776,645 1,327,569 422,498 540,182 485,055 378,388 169,895 229,777 135,453 223,398 95 292,828 157,538 297,891 204,444 118,807 62,758 24,499,619

$

NEW EQUIPMENT FUND

5,599,145 -0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0857,417 -0-06,456,562

$

-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-06,827 -0-06,827

DEVELOPMENT FUND

$

4,492,262 -0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0737,511 -0-05,229,773

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 2023

$

16,985,152 5,756,212 253,791 2,351,902 1,775,096 1,645,652 776,645 1,327,569 422,498 540,182 485,055 378,388 169,895 229,777 135,453 223,398 95 292,828 157,538 297,891 1,806,200 118,807 62,758 36,192,782

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

OPERATING EXPENSES

Downhill ski (cost of sales of $211,348 in 2023 and 209,195 in 2022) Snowplay (cost of sales of $4,979 in 2023 and $458 in 2022) The Lodge and Summer F&B (cost of sales of $725,248 in 2023 and $762,762 in 2022) Cross country center (cost of sales of $106,563 in 2023 and $127,981 in 2022) Trout Creek recreation center and aquatics (cost of sales of $24,482 in 2023 and $20,492 in 2022) Marina (cost of sales of $64,245 in 2023 and $73,455 in 2022) Golf course (cost of sales of $91,881 in 2023 and $85,288 in 2022) Alder Creek Cafe (cost of sales of $143,353 in 2023 and $122,389 in 2022) Pizza on the Hill (cost of sales of $147,802 in 2023 and $159,540 in 2022) Tennis (cost of sales of $26,721 in 2023 and $32,450 in 2022) Day Camps Equestrian (cost of sales of $4,117 in 2023 and $1,242 in 2022) Recreation (cost of sales of $2,451 in 2023 and $2,149 in 2022) Campground Bikeworks (cost of sales of $80,817 in 2023 and $39,461 in 2022) Trails Communications Architectural standards Forestry Homeowners’ association operating expenses and G&A TOTAL OPERATING EXPENSES

4,037,800 184,091

27,412 -0-

-0-0-

-0-0-

-0-0-

4,065,212 184,091

3,667,511 151,383

3,120,022

67,370

-0-

-0-

-0-

3,187,392

3,070,236

1,181,082

53,698

-0-

-0-

-0-

1,234,780

1,225,874

1,565,329 537,842

148,642 20,398

-0-0-

-0-0-

-0-0-

1,713,971 558,240

1,310,710 562,218

1,645,228

69,400

-0-

-0-

-0-

1,714,628

1,949,552

532,366

-0-

-0-

-0-

-0-

532,366

455,805

669,484 437,879 213,919 363,193 221,933 111,027 252,815 271,097 909,472 509,487 1,663,177 6,384,817 24,812,060

-022,855 35,438 5,239 -02,219 -066,111 -0-0219,592 742,876 1,481,250

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

-0-0-0-0-0-0-0-0-0-0-0325,187 325,187

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

669,484 460,734 249,357 368,432 221,933 113,246 252,815 337,208 909,472 509,487 1,882,769 7,452,880 26,618,497

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

-0-030,522 24,842,582

(39,627) -080,631 1,522,254

-0-0618 618

-0-066,791 391,978

6,717 3,212,178 -03,218,895

(32,910) 3,212,178 178,562 29,976,327

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

4,837,795

$ (3,218,895)

FUND EXPENSES (Gain) Loss on disposal of assets Depreciation Income tax provision (Note 5) TOTAL EXPENSES REVENUE OVER (UNDER) EXPENSES

$

(342,963)

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

16 | TAHOE DONNER 2023 ANNUAL REPORT

$

$

4,934,308

$

6,209

$

$

6,216,455

$

4,798,781

-0-

(3,481,307)

(379,685)

(1,304,005)

5,164,997

-0-

-0-

2,858,823

16,075,483

259,504

12,725,517

45,199,170

77,118,497

72,319,716

16,259,307

$ 47,145,272

$ 83,334,952

$ 77,118,497

2,515,860

$

17,528,484

$

(113,972)

$

Exhibit C

TAHOE DONNER ASSOCIATION STATEMENTS OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023 (WITH COMPARATIVE TOTALS FOR 2022) OPERATING FUND

CASH FLOWS FROM OPERATING ACTIVITIES

Operating Revenue Over (Under) Expenses $ (342,963) Replacement Revenue Over Expenses -0Non-Operating Funds Revenue Over (Under) Expenses -0Revenue Over (Under) Expenses (342,963) Adjustments to Reconcile Operating/Replacement Revenue Over (Under) Expenses to Net Cash Provided (Used) by Operating Activities: Property fund additions, net 5,164,997 Bad debt expense 15,349 Depreciation expense -0(Gain)/Loss on disposal of assets -0Investment amortization (129,485) Changes in: Assessments receivable (5,847) Other receivables 341,485 Inventory (87,872) Prepaid expenses and other assets (171,979) Due to/from other funds (1,826,398) Accounts payable (650,804) Accrued liabilities (17,411) Deferred revenue (15,236) Deposits (4,500) NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 2,269,336

REPLACEMENT RESERVE FUND $

CASH FLOWS FROM INVESTING ACTIVITIES

-04,934,308 -04,934,308

NEW EQUIPMENT FUND $

-0-06,209 6,209

DEVELOPMENT FUND

$

-0-04,837,795 4,837,795

PROPERTY FUND

$

TOTAL 2023

$

-0-0(3,218,895) (3,218,895)

(342,963) 4,934,308 1,625,109 6,216,454

TOTAL 2022

$

(233,842) 4,773,275 259,348 4,798,781

(3,481,307) 23,083 -0(39,627) (445,063)

(379,685) -0-0-0-0-

(1,304,005) 14,583 -0-0(576,147)

-0-03,212,178 6,717 -0-

-053,015 3,212,178 (32,910) (1,150,695)

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

(23,083) (67,977) -0(151) 1,391,761 -0-0-0-02,291,944

-0-0-0-0129,287 -0-0-0-0(244,189)

(14,583) (58,459) -0-0305,350 -0-0-0-03,204,534

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

(43,513) 215,049 (87,872) (172,130) -0(650,804) (17,411) (15,236) (4,500) 7,521,625

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

Acquisition of property and equipment Proceeds from sale of property and equipment Purchase of investments Maturity or redemption of investments NET CASH USED BY INVESTING ACTIVITIES

(4,934,285) -0(8,571,488) 9,450,000 (4,055,773)

-039,627 (18,656,876) 17,032,870 (1,584,379)

-0-0-0-0-0-

-0-0(29,530,078) 26,088,000 (3,442,078)

-0-0-0-0-0-

(4,934,285) 39,627 (56,758,442) 52,570,870 (9,082,230)

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

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR CASH AND CASH EQUIVALENTS, END OF YEAR (NOTE 3)

(1,786,437) 8,691,311 $ 6,904,874

707,565 606,423 1,313,988

(244,189) 269,669 $ 25,480

$

(237,544) 243,047 5,503

-0-0-0-

(1,560,605) 9,810,450 $ 8,249,845

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

$

$

$

$

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 3)

SUPPLEMENTAL DISCLOSURE

Income taxes paid Acquisition of equipment financed by trade payables

$

$ 6,694,597 210,277 $ 6,904,874

$

-01,313,988 1,313,988

$ $

$ $

-0-0-

76,357 230,712

$

$

-025,480 25,480

$ $

-0-0-

$

$

-05,503 5,503

$

-0-0-0-

$ $

-0-0-

$ $

-0-0-

$

$

6,694,597 1,555,248 8,249,845

$

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

$ $

76,357 230,712

$ $

20,000 -0-

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS. TAHOE DONNER 2023 ANNUAL REPORT |

17

NOTES TO THE 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.

MEMBER ASSESSMENTS AND ALLOWANCE FOR CREDIT LOSSES – 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.

The Association treats uncollectible assessments as credit losses. Methods, inputs, and assumptions used to evaluate when assessments are considered uncollectible include close monitoring of outstanding assessment balances by management, member payment history of outstanding assessment balances, and susceptibility to factors outside the Association's control. An allowance for credit losses 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.

Allowance for credit losses as of December 31 was as follows: Beginning balance

2023 $

Provision for expected credit loss

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 2023 ANNUAL REPORT

$

(29,438)

(110,279) $

88,393

221,059 (33,572)

40,623

Less: write offs

Ending allowance for credit losses

158,049

2022

$

158,049

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

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. The balance at times may exceed federally insured limits. As of December 31, 2023 and 2022, cash balances exceeded federally insured limits by approximately $4,795,000 and $7,815,000, 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.

NOTES TO FINANCIAL STATEMENTS 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 and reserve, new machinery and equipment and development funds in proportion to the interest-bearing assets of each fund.

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 Community Standards Office. 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 year ended December 31, 2023 and 2022 advertising costs total $37,102 and $46,979, 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 2018.

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.

RECLASSIFICATIONS – Certain reclassifications have been made in the 2022 financial statements to conform to the classifications used

in 2023. The reclassifications had no impact on the financial position or results of operations for 2022.

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.

NEW ACCOUNTING PRONOUNCEMENT – In 2023, the Association implemented ASU 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASC 326). This standard replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. CECL requires an estimate of credit losses for the remaining estimated life of the financial asset using historical experience, current conditions, and reasonable and supportable forecasts and generally applies to financial assets measured at amortized cost, including heldto-maturity debt securities, and accounts receivable. Financial assets measured at amortized cost will be presented at the amount expected to be collected, net of an allowance for credit losses.

There were no transition adjustments required to be made as a result of implementing the new standard.

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 (Continued on next page) TAHOE DONNER 2023 ANNUAL REPORT |

19

NOTES TO THE FINANCIAL STATEMENTS 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.

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 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 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

20 | TAHOE DONNER 2023 ANNUAL REPORT

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, amenity related lessons and programs. Deferred revenue balances related to contracts was approximately $2,288,000 and $2,455,000 as of December 31, 2023 and 2022, respectively. For the years ended December 31, 2023 and 2022, the Association recognized approximately $2,445,000 and $2,602,000 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, 2023 and 2022, 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, 2023 and 2022, 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 nonpass 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 3

CASH AND INVESTMENTS

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

2023 Replacement Reserve Fund - designated

CASH $

1,313,988

INVESTMENTS $

18,367,072

TOTAL $

19,681,060

Development Fund - designated

5,503

16,564,915

16,570,418

New Equipment Fund - designated

25,480

-0-

25,480

6,694,597

1,481,375

8,175,972

Operating Fund - Trust - restricted 457 (b)

24,500

-0-

24,500

Operating Fund - Architectural standards deposits - restricted

185,777

-0-

185,777

TOTAL

$ 8,249,845

$ 36,413,362

$ 44,663,207

2022

CASH

INVESTMENTS

TOTAL

Operating Fund - undesignated and unrestricted

Replacement Reserve Fund - designated

$

606,423

$

16,298,003

$

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

$ 9,810,450

$ 31,075,096

$ 40,885,546

Operating Fund - undesignated and unrestricted

TOTAL

Board designated funds in the replacement reserve fund cannot be expended for any purpose other 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 2023 ANNUAL REPORT |

21

NOTES TO FINANCIAL STATEMENTS The amortized cost of held-to-maturity investment securities at December 31, 2023 and 2022 are as follows: 2023 AMORTIZED COST/NET CARRYING VALUE

2022 AMORTIZED COST/NET CARRYING VALUE

Held to maturity: Certificates of Deposit

$

11,482,174

$

5,088,020

Corporate Bonds

2,155,867

2,837,978

Municipal Securities

1,555,053

2,114,610

US Treasury Securities

21,220,268

21,034,488

$ 36,413,362

$ 31,075,096

TOTAL HELD TO MATURITY

The maturities of the held to maturity securities at December 31, 2023 and 2022 are all within one to five years.

4

PROPERTY AND EQUIPMENT

6

Property and equipment consist of the following:

Buildings

Fixtures and facility improvements

2023

2022

$ 35,290,229

$ 35,155,668

21,425,517

19,257,339

27,195,669

22,889,428

12,941,316

12,941,316

1,551,645

1,189,722

TOTAL

98,404,376

91,433,473

Less accumulated depreciation

(53,417,153)

(50,426,468)

44,987,223

41,007,005

2,158,049

4,192,165

Equipment

Land and land improvements Furnishings

Construction in progress TOTAL

5

$ 47,145,272 $ 45,199,170

INCOME TAXES

The provision for income taxes for the year ended December 31, 2023 and 2022 is as follows: 2023

2021

$ 178,562

$ 45,444

Federal

-0-

3,823

TOTAL

$ 178,562

$ 49,267

State

22 | TAHOE DONNER 2023 ANNUAL REPORT

REPLACEMENT RESERVE FUND

The Association’s policy is to maintain replacement funding levels sufficient to pay for capital replacements, refurbishments, and repairs. Funds 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 2023, 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.

7

INTERFUND ACTIVITY

The Association maintains five funds. The reserve funds’ portion of the overall assessment are 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.

8

RETIREMENT PLANS

The Association sponsors a 401(k)-retirement plan for the benefit of Association employees who meet plan eligibility requirements.

Under this plan, the Association will contribute a Safe Harbor match of up to 4% to all employees enrolled in the plan. Matching contributions expense was $219,238 and $165,991 for December 31, 2023 and 2022, respectively.

9

Photo submission for 2022 Photo Contest; not part of Independent Auditors’ Report

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 $25,000 for the years ended December 31, 2023 and 2022, respectively.

SUBSEQUENT EVENTS

Subsequent events have been evaluated through March 15, 2024, the date the financial statements were issued.

LYNN HEISLEIN

(Continued on next page)

TAHOE DONNER 2023 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, 2023 (WITH COMPARATIVE TOTALS FOR 2022)

OPERATIONS

AMENITIES

HOMEOWNERS’ ASSOCIATION

REVENUE Assessments

$

-0-

$

6,893,745

TOTAL OPERATING FUND

$

6,893,745

Access and use fees

7,767,814

-0-

7,767,814

Retail sales

4,684,461

-0-

4,684,461

Lessons and rental revenue

3,276,830

16,555

3,293,385

Late charges, fines and fees

-0-

306,639

306,639

Other revenues

742,503

606,628

1,349,131

Interest income

-0-

204,444

204,444

Total Revenue

16,471,608

8,028,011

24,499,619

Salaries and wages

7,229,487

5,000,425

12,229,912

Cost of good sold

1,630,007

-0-

1,630,007

Payroll taxes and employee benefits

1,855,935

1,399,910

3,255,845

Supplies and maintenance

OPERATING EXPENSES

1,355,462

1,018,942

2,374,404

Utilities

958,434

180,771

1,139,205

Other employee expenses

604,359

206,326

810,685

Insurance

906,959

691,850

1,598,809

Income tax

-0-

30,522

30,522

811,284

961,909

1,773,193

15,351,927

9,490,655

24,842,582

(Gain) Loss on disposal of assets

-0-

-0-

-0-

Depreciation

-0-

-0-

-0-

Other expenses Total Operating Expenses

FUND EXPENSES

Fund expenses

-0-

-0-

-0-

15,351,927

9,490,655

24,842,582

$ 1,119,681

$ (1,462,644)

$ (342,963)

PROPERTY FUND ADDITIONS, NET

-0-

-0-

-0-

FUND BALANCES, BEGINNING OF YEAR

-0-

-0-

2,858,823

-0-

$ 2,515,860

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 2023 ANNUAL REPORT

$

-0-

$

Schedule 1

CAPITAL

REPLACEMENT RESERVE FUND $

5,599,145

NEW EQUIPMENT FUND $

-0-

DEVELOPMENT FUND $

4,492,262

TOTALS

PROPERTY FUND $

-0-

TOTAL 2023

$

16,985,152

TOTAL 2022

$

15,202,575

-0-

-0-

-0-

-0-

7,767,814

8,147,982

-0-

-0-

-0-

-0-

4,684,461

4,419,797

-0-

-0-

-0-

-0-

3,293,385

3,162,656

-0-

-0-

-0-

-0-

306,639

391,399

-0-

-0-

-0-

-0-

1,349,131

1,422,817

857,417

6,827

737,511

-0-

1,806,200

426,741

6,456,562

6,827

5,229,773

36,192,782

33,173,967

-0-

-0-

-0-

-0-

12,229,912

11,859,832

-0-

-0-

-0-

-0-

1,630,007

1,636,867

-0-

-0-

-0-

-0-

3,255,845

3,071,938

-0-

-0-

-0-

-0-

2,374,404

2,576,850

-0-

-0-

-0-

-0-

1,139,205

1,120,573

-0-

-0-

-0-

-0-

810,685

511,892

-0-

-0-

-0-

-0-

1,598,809

1,355,767

80,631

618

66,791

-0-

178,562

49,267

23,083

-0-

14,583

-0-

1,810,859

1,759,201

103,714

618

81,374

-0-

25,028,288

23,942,187

(39,627)

-0-

-0-

6,717

(32,910)

(46,732)

-0-

-0-

-0-

3,212,178

3,212,178

3,322,358

1,458,167

-0-

310,604

-0-

1,768,771

1,157,373

1,522,254

618

391,978

3,218,895

29,976,327

28,375,186

6,209

$ 4,837,795

$ (3,218,895)

$ 6,216,455

$ 4,798,781

(3,481,307)

(379,685)

(1,304,005)

5,164,997

-0-

-0-

16,075,483

259,504

12,725,517

45,199,170

77,118,497

72,319,716

(113,972)

$ 16,259,307

$ 47,145,272

83,334,952

$ 77,118,497

$ 4,934,308

$ 17,528,484

$

$

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS. TAHOE DONNER 2023 ANNUAL REPORT |

25

Schedule 2

TAHOE DONNER ASSOCIATION

SCHEDULE OF CAPITAL FUNDS’ EXPENDITURES BY DEPARTMENT FOR THE YEAR ENDED DECEMBER 31, 2023 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 $ 394,250

$ 148,642

-0-

$ -0-

2,738

$ -0-

$ 396,988

Beach Club Marina

33,225

20,398

-0-

-0-

40,464

-0-

73,689

20,398

Tennis Center

22,775

22,855

-0-

-0-

-0-

-0-

22,775

22,855

Northwoods Pool / Aquatics

15,119

-0-

-0-

-0-

-0-

-0-

15,119

-0-

Camps + Recreation Programs

24,286

35,438

-0-

-0-

-0-

-0-

24,286

35,438

TOTAL PRIVATE AMENITIES

489,655

227,333

-0-

-0-

43,202

-0-

532,857

227,333

Golf

508,183

69,400

38,971

-0-

49,132

-0-

596,286

69,400

Downhill Ski

207,240

27,412

-0-

-0-

804,887

-0-

1,012,127

27,412

Cross Country Ski

Trout Creek Recreation Center

$ 148,642

PUBLIC AMENITIES

142,111

53,698

187

-0-

268,140

-0-

410,438

53,698

Campground

-0-

2,219

-0-

-0-

-0-

-0-

-0-

2,219

Equestrian

8,362

5,239

14,999

-0-

-0-

-0-

23,361

5,239

171,674

66,111

-0-

-0-

40,032

-0-

211,706

66,111

Trails Bikeworks

43,098

-0-

48,067

-0-

-0-

-0-

91,165

-0-

The Lodge

658,951

67,370

103,153

-0-

21,433

-0-

783,537

67,370

Pizza on the Hill

4,805

-0-

-0-

-0-

-0-

-0-

4,805

-0-

Alder Creek Cafe

4,394

-0-

-0-

-0-

-0-

-0-

4,394

-0-

TOTAL PUBLIC AMENITIES

1,748,818

291,449

205,377

-0-

1,183,624

-0-

3,137,819

291,449

TOTAL AMENITIES

2,238,473

518,782

205,377

-0-

1,226,826

-0-

3,670,676

518,782

13,820

-0-

176,313

38,157

HOMEOWNERS ASSOCIATION AND GENERAL + ADMINISTRATIVE General Homeowners Association

162,493

38,157

-0-

-0-

-0-

253,869

-0-

-0-

-0-

310,604

-0-

564,473

Administration

122,137

34,839

-0-

-0-

63,359

-0-

185,496

34,839

Information Technology

335,326

359,186

32,444

-0-

-0-

-0-

367,770

359,186

Forestry

193,781

219,592

141,864

-0-

-0-

-0-

335,645

219,592

Maintenance

429,097

33,742

-0-

-0-

-0-

-0-

429,097

33,742

TOTAL HOA AND G+A

1,242,834

939,385

174,308

-0-

77,179

310,604

1,494,321

1,249,989

TOTAL

$3,481,307 $ 1,458,167

$379,685

$ -0-

$1,304,005

$ 310,604

Facility Administration

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

26 | TAHOE DONNER 2023 ANNUAL REPORT

$5,164,997 $1,768,771

Schedule 3

REQUIRED SUPPLEMENTARY INFORMATION ON FUTURE MAJOR REPAIRS AND REPLACEMENTS DECEMBER 31, 2023 (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 2023 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, 2023, is $17,528,484. The 2024 budget includes $5,527,942 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 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 2023 ANNUAL REPORT |

27

ANNUAL BUDGET – SOURCE OF FUNDS

CAGR = COMPOUND ANNUAL GROWTH RATE

DOLLARS IN THOUSANDS $40,000 $35,000 $30,000

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

10-YEAR CAGR 2014-2023 2015-2024 8.3% 8.8% 2.6% 2.0% 5.7% 5.5% 6.7% 8.1% 6.1% 6.7%

$37,341 $34,158 $30,779

$26,934 $24,759

$25,000 $20,000 $15,000 $10,000 $5,000 $0

21% 5,696

$23,299

$18,665 27% 5,119

$19,976 27% 5,450

25% 4,906

25% 4,621

48% 8,925

2013

$20,860 31% 6,433

25% 5,217

$21,497

32% 6,951

25% 5,346

48% 9,620

44% 9,210

43% 9,200

2014

2015

2016

OPERATING REVENUES

27% 6,311

26% 5,988

47% 11,000

2017

$27,507

$27,789

21% 5,890

23% 6,447

25% 6,085 26% 7,023

27% 7,477

25% 6,214

50% 12,460

2018

53% 14,215

51% 14,140

2019

2020

ANNUAL ASSESSMENT, CAPITAL

21% 7,677

20% 6,894

20% 6,123

30% 9,082

30% 10,091

30% 11,140

29% 8,059

48% 13,283

2021

51% 15,574

50% 17,173

2022

2023

50% 18,524

2024

ANNUAL ASSESSMENT, OPERATING

ALL MEMBERS PAY

USERS PAY

(MEMBERS/GUESTS/PUBLIC)

ANNUAL BUDGET – USE OF FUNDS DOLLARS IN THOUSANDS $40,000 $35,000 $30,000

CAPITAL FUNDING AMENITIES OPERATING COSTS HOA SERVICES COSTS OUTFLOW USES TOTAL

10-YEAR CAGR 2014-2023 2015-2024 8.3% 8.8% 5.3% 5.7% 5.4% 6.2% 6.1% 6.7%

$37,341 $34,158

$26,934

$20,000 $15,000 $10,000

$23,299

$18,665 30% 5,663

45% 8,381

$5,000 $0

$27,507

$26,904

$24,759

$25,000 $19,976 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

28% 6,840

47% 11,705

25% 4,621

25% 4,906

25% 5,217

25% 5,346

26% 5,988

25% 6,214

2013

2014

2015

2016

2017

2018

CAPITAL FUNDING

28 | TAHOE DONNER 2023 ANNUAL REPORT

28% 10,528

$30,778

AMENITIES OPERATING COSTS

27% 7,350

29% 7,905

44% 12,125

26% 7,023

27% 7,477

29% 8,059

2019

2020

2021

BEFORE OVERHEAD FOR COMPARABILITY FOR ALL YEARS

28% 8,610

29% 7,830

41% 11,015

47% 12,561

27% 9,322

43% 13,086

30% 9,082

2022

HOA SERVICES COSTS

43% 14,745

42% 15,673

30% 10,091

30% 11,140

2023

2024

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TAHOE DONNER NEWS |

13

2024 ELECTIONS 2024 ELECTIONS 2024 ELECTIONS Roadmap to the Election 2024 ELECTIONS THE REPORT

ONE POSITION OPEN

There is one position open for the 2024 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!

websites related to the 2024 director election are also made available at tahoedonner.com/boardelections.

May 22 SUBMIT TOPICS FOR CANDIDATES TO ADDRESS AT DIRECTOR ELECTION FORUM

If you could sit down with the candidates, what topics would you like them to address? Submit discussion topics for the Director Election Forum tahoedonner.com/submit-topics by 5PM. ballots are mailed to all eligible members – one ballot per May 28 Election 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.

June 4 DIRECTOR ELECTION FORUM 6-8PM

ONLINE MEETING

Join the online forum moderated by the Inspector of Elections.

Candidates will address topics submitted by members. Visit tahoedonner.com/boardelections for meeting and login information.

June 28 ELECTION BALLOT MEETING + 9AM-5PM REGULAR BOARD MEETING 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 30 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 members of the association is reached (25%). If not, the meeting is adjourned and reconvened on July 1 at which time the election will be concluded with a 15% quorum if that requirement is met.

After the Annual Meeting, join us at the Member Expo + BBQ from 12-2PM.

Ballot Mailing via USPS All ballot return envelopes are pre-addressed and 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.

Campaign Spending Campaign Guidelines encourage candidates to conduct an economical campaign that employs costeffective campaign outreach techniques. To support this objective, the association posts Director Election Statements and links to director election-related personal websites if provided by candidates.

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 THE TAHOE DONNER ASSOCIATION.

FOR ELECTION INFORMATION, VISIT TAHOEDONNER.COM/BOARDELECTIONS

Photo by Allie Ballesteros

Election Statements from candidates and verified members May 1 Director will be posted to the Tahoe Donner elections website. Links to personal

12710 Northwoods Blvd Suite 1. Truckee, California Troy Deibert (530) 386-6635 donnertahoeflooring.com Call for an appointment.

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TAHOE DONNER NEWS |

15

THE REPORT

YOUR GIFTS CHANGE LIVES

TAHOE DONNER GIVING FUND 2023 GIVING REPORT Thanks to the generosity of Tahoe Donner members, in 2023, the Tahoe Donner Giving Fund awarded a total of $307,500 in scholarships and grants through the Tahoe Truckee Community Foundation, which administers the TDGF. $47,500 to traditional scholarships • $60,000 to nonprofit organization grants • $200,000 to IMPACT scholarships $307,500 Total Giving, 2023

2023 IMPACT SCHOLARSHIPS

2023 TRADITIONAL SCHOLARSHIPS

2023 NONPROFIT ORGANIZATION GRANTS

$200,000 in IMPACT Scholarships are awarded annually, thanks to one anonymous Tahoe Donner member who began this generous tradition in 2019.

$47,500 in traditional scholarships were awarded in 2023, funded through the generosity of the Tahoe Donner members recognized in these pages.

$60,000 in grants were made to nonprofit organizations that support a wide range of services to our greater community, thanks to the generous donations of Tahoe Donner members.

Caitlin, Cal Poly Humboldt, Fire Science Management Emmy, CSU Long Beach, International Business Gabriela, UC Santa Cruz, Plant Sciences Joshua, CSU Chico, Nursing Lesly, University of Nevada, Reno, Biology

WHY WE GIVE

FIRST YEAR AWARDS America, UC Davis, General Education/ English/Natural Resources

Boys and Girls Club $5,000

Evelin, UC Riverside, Criminal Justice

Clean up the Cayes, Donner Lake $10,000

Frida, Sacramento City College, Nursing/Women’s Health

Friends of the Library $5,000 Humane Society of Truckee Tahoe $5,000

Gisela, Sierra College, Sociology

Sierra Community House $10,000

Jatziry, Cal Poly San Luis Obispo, Early Childhood Development

Sierra Senior Services $5,000

Joshua, CSU Chico, Nursing

Tahoe Food Hub $5,000

Julia, Cal Poly San Luis Obispo, Political Science/Law Rachel, UC Santa Barbara, Communications

SECOND YEAR AWARDS Iran, Bowdoin College, Government/English Julian, CSU Sacramento, Computer Science Gabriela received a Tahoe Donner Giving Fund IMPACT Scholarship in June 2023 and is now finishing her freshman year at UCSC as a Plant Sciences major. As the first in her family to attend college, Gabriela is exploring her interest in habitat restoration with an internship working at Younger Lagoon Reserve. Her favorite class so far has been Introduction to Field Research and Inquiry. Gabriela told us, “I thank all of the generous TDGF donors for this opportunity.”

We thank Gabriela for choosing science because an investment in Gabriela is an investment in our planet’s future.

AMI Housing $5,000

Karla, Sierra College, Psychology/Social Work Quinn, CSU Monterey, Computer/Science Sonny, University of Utah, Nursing

Slow Food Lake Tahoe $5,000 Tahoe Truckee School of Music $5,000 Our sincere thanks to all donors for your generosity, The Tahoe Donner Giving Fund Committee: Marcia Argyris, Carla Brown, Diane Campbell, Monika De Martini, Fred Hertlein, Nan Meek, Toni Moore, Betsy Noonen, Karen Stine The Tahoe Donner Giving Fund is administered as an affiliate fund of the Tahoe Truckee Community Foundation, a 501(c)(3) nonprofit organization, EIN 68-0416404. All contributions are voluntary, irrevocable, and are tax-deductible to the extent allowed by law.

The Tahoe Donner Giving Fund Committee is chartered by the Tahoe Donner Board of Directors to carry out the mission of the Tahoe Donner Giving Fund: to inspire generosity and charitable giving among Tahoe Donner members in order to support deserving programs and youth in the greater Truckee community. Tahoe Donner Giving Fund grants and scholarships are made through the Tahoe Truckee Community Foundation’s annual review process.

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TAHOE DONNER NEWS |

17

THE REPORT

BUSINESS DIRECTORY AUTOMOTIVE SERVICES

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

AUTOMOTIVE SERVICES 2 B’S OF TAHOE GREEN CLEANING SERVICE (530) 414-0110 twobeesoftahoe@gmail.com twobeesoftahoe.com

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

ESTATE LANDSCAPE & TREE SERVICES (FORMERLY TIMBERWOLFE)

(530) 386-3340 sales@estatetreeservices.com timberwolfetreeservice.com estatelandscape.com

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

NORTHWOODS TREE & LAND PO Box 8153, Truckee, CA 96162 (530) 401-2619 northwoodstreeandland@gmail.com northwoodstreeandland.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

HOME IMPROVEMENT + SERVICES BHB REMODELING, INC.

10050 Bridge Street #1325, Truckee, CA 96160 (530) 386-1807 bhbremodeling@gmail.com bhbremodelinginc.com

EAST FORK ROOFING

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

FIREPLACES / WOOD STOVES

HOME HARDENING SOLUTIONS INC.

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

MR. HONEY-DO

MOUNTAIN HOME CENTER

FLOORING

BASSETT FLOORING

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

DONNER TAHOE FLOORING

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

HEALTH CARE

TAHOE FOREST HOSPITAL

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

HOLIDAY LIGHTING

AMERICAN LUXURY LIGHTS (970) 212-3670 americanluxurylights.com

HOME + OUTDOOR FURNISHINGS MOUNTAIN HOME CENTER

875 Idaho Maryland Road, Grass Valley, CA 95945 (530) 648-7058 homehardeningsolutions.com

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

TRUE GREEN ROOFING SOLUTIONS 316 California Avenue #705, Reno, NV 89509 (775) 225-1590 info@truegreenroofing.com truegreenroofing.com

HOME OXYGENATION

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

HVAC

VERIFIED® HVAC, PLUMBING, AND INDOOR AIR/WATER PURIFICATION (530) 448-6249 robert@verified.co ean@verified.co verified.co

M+S HEATING + AIR (775) 843-7930 kentj@ms-ac.com debbiec@ms-ac.com ms-ac.com

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

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.

MASSAGE/WELLNESS

ZENERGY MASSAGE & WELLNESS

11836 Donner Pass Road, Ste. 3, Truckee, CA 96161 (530) 448-0344 zenergytahoe@gmail.com zenergytahoe.com

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

SECOND HOME CARE INC.

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

REAL ESTATE

ALISON ELDER – ELDER GROUP TAHOE REAL ESTATE – CHASE INTERNATIONAL REAL ESTATE 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 MORRISON GROUP | HOME AND SLATE REAL ESTATE

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

12047 Donner Pass Road, Ste. #A2, Truckee, CA 96161 (530) 203-8440 christy@exploretahoehomes.com homeandslate.com/testimonials

sierraprecisionpainting@gmail.com sierraprecisionpainting.com

THE SHARP TEAM/COMPASS

SIERRA PRECISION PAINTING

PROPERTY MANAGEMENT MANAGEHOME

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

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

TRUCKEE & LAKE TAHOE REAL ESTATE – COLDWELL BANKER RESIDENTIAL BROKERAGE

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

SNOW REMOVAL EAST FORK ROOFING

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

ELEMENTS MOUNTAIN CO.

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

SPAS / PATIO FURNITURE MOUNTAIN HOME CENTER

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

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

Play More and Cook Less This Spring Check out all the great dining options in our Truckee Dining Guide on Truckee.com.

TAHOE DONNER NEWS |

19

FEATURE

E MBR AC E T H E DAR K NESS FO R A B R I G H TER F U TU R E Implement Dark-Sky Friendly Exterior Lighting With Rebates from the Town of Truckee

By CYNTHIA CENDREDA

Prolonged exposure to artificial lights can be detrimental to human and environmental health. Brighter residential nighttime lighting is associated with reduced sleep times and quality of sleep, impaired daytime functioning and obesity. Light pollution is also disruptive to the area’s ecosystems: Birds may not be able to navigate effectively using stars during migration seasons, predators cannot properly hunt in brightly lit areas and insects are fatally attracted to artificial light sources.

SMALL CHANGES, BIG IMPACTS When you join the Dark Skies Movement, you help create a brighter future. Participating has never been easier; simply remember to turn off your outside lights by 10PM or earlier if you don’t need them. You can also turn off interior lights when not in use or install environmentally friendly exterior lighting like downward-facing fixtures or motion-sensor lights.

TOWN OF TRUCKEE OUTDOOR LIGHTING REBATE PROGRAM To encourage residents to embrace the darkness, The Town of Truckee, in partnership with Climate Transformation Alliance and the Sierra Business Council, is offering rebates of up to $75 per light fixture for home and business owners to upgrade their old exterior lighting to downward-facing, energy-efficient ones.

The rebates are part of a county-wide effort to reduce light pollution, save energy and preserve the beauty of the star-lit sky.

For more information on the rebate program, visit townoftruckee.gov/406/Dark-Skies-Education.

Estate Landscape Tahoe Donner Ad.pdf

1

4/11/24

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C

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COVEN ANTS R EM IN DE RS

RESPECT QUIET HOURS Loud music, barking dogs and late-night partying are prohibited from 10PM-7AM.

530.386.3340 T I M BE RW OLF E T R EE S ERV I CE. CO M

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Be a good neighbor to your community and local wildlife by respecting noise and exterior lighting rules in Tahoe Donner. Prolonged exposure to artificial lighting and excessive noise can be harmful to humans and the environment. Violations of Covenants Rules regarding light and noise pollution may result in fines or other sanctions. See below for more:

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4.1 Noise. The hours between 10PM and 7AM, seven days a week, are considered quiet hours, during which noise shall be minimized in order that it not be an unreasonable annoyance or nuisance to neighbors. Noise includes but is not limited to outdoor music, late-night partying, amplified or motorized sounds. A noise violation does not also have to be a violation of a noise ordinance in the Town of Truckee or Nevada County.

LIGHTS OUT Enjoy the mountain stars and minimize light pollution by turning off outdoor lighting after 10PM. 4.2 Light Pollution: All exterior lights must be turned off between the hours of 10PM and 7AM, seven days a week, that are no longer needed for safety or other outdoor use to the extent that such other outdoor use is not an unreasonable annoyance or nuisance to neighbors. Motion detector lights may remain energized. Exterior light fixture standards are established and shall be enforced by the Architectural Standards Committee.

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TAHOE DONNER NEWS |

21

THE REPORT

BRIEFS ENTER THE “DON’T BE AFRAID OF THE DARK” PHOTO CONTEST

As part of the Dark Skies initiative to encourage residents to limit light pollution and enjoy the beauty of the night sky, the Town of Truckee is holding a “Don’t Be Afraid of the Dark” photo contest where entrants can win a $500 Visit Truckee-Tahoe Sustainable Truckee Gift Card, an outdoor, dark skies photography workshop over the summer and more! The contest is open to amateur and professional photographers of all ages. Photos must be taken in Nevada County, and participants may submit as many as they’d like through May 15 on the Sierra Sun’s submission gallery. The community will have the opportunity to vote on the finalists.

For complete contest details and to enter, visit sierrasun.com/darkskiesphoto. To learn more about the Dark Skies initiative in Truckee, visit townoftruckee.gov/406/ Dark-Skies-Education.

MEMBER SERVICES REGULAR HOURS

The Member Services office located in the Northwoods Clubhouse is currently closed on Sundays for the shoulder season. Regular seven-day-a-week operations will resume on Sunday, May 26.

Please call (530) 587-9400 ext. 0 or email info@tahoedonner.com for any questions or concerns.

NEW PARKING POLICY AT THE BEACH CLUB MARINA Beginning May 24, parking within the fenced lot at the Beach Club Marina will be reserved for Tahoe Donner members only. Members must be prepared to show a valid member ID card. As the parking lot fills up early on busy weekends and

holidays, members are also encouraged to take advantage of the free TART Connect microtransit service for convenient, doorto-door transportation. Tahoe Donner will also be offering a free shuttle service from the Truckee High School parking lot to the Beach Club Marina Friday-Sunday 11AM-5PM beginning June 28.

BOAT + TRAILER STORAGE May 1-Sept. 30, 2024

Thank you to those who are participating in boat and trailer storage. Please remember to be a good neighbor and follow the guidelines: • Always lock the gates after leaving the storage lot.

• Be respectful of other vehicles and property.

• Insurance and registration must be current throughout the storage dates.

For any questions or concerns, contact Member Services at (530) 587-9400 ext. 0.

SUMMER HIRING FAIR Visit Pizza on the Hill on Saturday, May 4, from 10AM-2PM for the summer hiring fair. Attendees can enjoy free pizza while learning about seasonal positions with Tahoe Donner.

Discover rewarding job opportunities and join a team of like-minded outdoor enthusiasts, with 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.

Learn more at tahoedonner.com/jobs.

GREEN WASTE DROP-OFF DAY IN TAHOE DONNER

Self-service drop-off days are a convenient way to dispose of residential green waste

like pine needles, pine cones, cleared brush and smaller tree rounds. Plastic bags, rocks, dirt, commercial yard waste, tree rounds larger than 24 inches, stumps, boards and other trash are not permitted. Limit of three yards per trip.

When: Friday, May 31 | 8AM-1PM Location: Trout Creek Recreation Center Parking Lot More Info: keeptruckeegreen.org

NOTICE OF PUBLIC ART COMMISSION VACANCY

The Town of Truckee is currently seeking a volunteer to serve on the Public Art Commission of Truckee. The commission consists of seven members tasked with overseeing the implementation of the adopted Public Art Master Plan.

Responsibilities will include assisting with developing public art program priorities and processes, as well as overseeing program implementation, project prioritization, artist selection, and public outreach. One member will be appointed until a term ending in August 2024 to serve for the vacated term. A list of qualifications and additional application information is available online at townoftruckee.gov/civicalerts.

TAHOE DONNER FORESTRY DEPARTMENT HOSTS THE EASTERN NEVADA COUNTY REGION FIREWISE COALITION MEETING

This collaborative gathering brings together Tahoe Donner members, Truckee area Firewise community leaders and members to address crucial topics related to wildfire preparedness and community resilience. Hear from keynote presenter Kevin Marini, UCCE Placer and Nevada

Counties Home Horticulture and Defensible Space Community Education Specialist, on FireSmart landscaping. Gain valuable insights and practical tips for implementing FireSmart landscaping techniques to enhance wildfire resilience and engage in discussions and networking opportunities with fellow community members and leaders to share best practices and initiatives for creating fire-adaptive communities.

When: Wednesday, May 8 | 6PM Location: Alder Creek Adventure Center

HELP SPREAD THE WORD ABOUT TAHOE DONNER’S AMENITIES

BY VOTING FOR YOUR FAVORITES!

The Sierra Sun’s Best of North Lake Tahoe and Truckee is back! Vote for your favorite Tahoe Donner amenities for 2024, May 3-12, at sierrasun.com/best. Categories that currently include TD amenities are: • Best Family Fun Place – Downhill Ski Resort • Best Fine Dining – The Lodge Restaurant & Pub • Kid-Friendly Restaurant – Pizza on the Hill • Best Pizza – Pizza on the Hill • Best Restaurant/Truckee – The Lodge Restaurant & Pub • Best Steak – The Lodge Restaurant & Pub • Best Bike Shop – Bikeworks • Best Camping – Tahoe Donner Campground

VOTE FOR TAHOE DONNER AMENITIES + RESTAURANTS FROM MAY 3-12 AT SIERRASUN.COM/BEST

TAHOE DONNER’S 2024

SUMMER CONCERT ON THE GREEN JULY 5

POP FICTION

JULY 6

JUMPING JACK FLASH

PARTY COVER BAND

THE DECKHEADS

CARIBBEAN-COWBOY DANCE MUSIC

ROLLING STONES COVER BAND

DECOY

HIGH-ENERGY COVER BAND

• Best Golf Course – Tahoe Donner Golf Course • Best Ski Resort – Tahoe Donner Cross Country Ski Center Don’t miss your chance to support all your favorite Tahoe Donner amenities! Winners will be announced on July 5.

SIGN UP FOR TAHOE DONNER TEXT ALERTS SIGN UP AT TAHOEDONNER.COM/SUBSCRIBE

LEARN MORE AND BUY TICKETS AT TAHOEDONNER.COM/SUMMERCONCERT

TAHOE DONNER NEWS |

23

THE REPORT

BOARD MEETING RECAPS SPECIAL BOARD MEETING: DOWNHILL SKI LODGE March 21, 2024 Downhill Ski Lodge Replacement Project The board met to review a presentation on the Downhill Ski Lodge Replacement Project.

The board adopted Resolution 2024-2, which included the Downhill Ski Lodge Replacement final decision to proceed with the current design and the staff’s replacement project budget.

Motion passed 5-0.

BOARD OF DIRECTORS MEETING March 29, 2024 Consent Calendar The board approved the Consent Calendar. Motion passed 5-0.

Committee/Task Force Reports The board received these items as information.

Town of Truckee Special Service Area – 1 (TSSA-1) The board received a presentation on the TSSA-1 funds and planned 2024/2025 capital improvement projects. Staff will draft a letter to the Town of Truckee regarding this topic.

2023 Annual Audit Report The board approved the draft Tahoe Donner Association 2023 Audit Report as presented by McClintock Accountancy. Motion passed 5-0.

2023 Member Survey Additional Analysis The board received a presentation on the 2023 Member Survey results.

Capital Funds Policies Update Workshop The board discussed conceptual topics for the capital funds policy updates.

Management Update The board received an update on a 2024 Operating Budget Cost Recovery Plan and the status of the Downhill Ski Lodge Replacement Project.

UPCOMING BOARD MEETINGS

Friday, May 24, 2024 – Regular Board Meeting Friday, June 28, 2024 – Regular Board Meeting + Election Ballot Meeting Sunday, June 30, 2024 – Annual Meeting of Members + Member Picnic Board meeting dates subject to change. Visit tahoedonner.com for dates.

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

Wednesday, May 1, 2024 – Trails + Open Space Tuesday, May 7, 2024 – Elections Wednesday, May 8, 2024 – Architectural Standards Thursday, May 9, 2024 – Long-Range Planning Monday, May 13, 2024 – Giving Fund Thursday, May 16, 2024 – Finance Wednesday, May 22, 2024 – Architectural Standards Thursday, May 23, 2024 – Covenants To get meeting details, including Zoom meeting registration information and time, please send an email to executiveassistant@tahoedonner.com.

HOMES ON THE RISE

The Architectural Standards Committee did not review any plans in March 2024.

COVENANTS VIOLATIONS HEARINGS The Covenants Committee held the following violations hearings in March 2024.

STREET

VIOLATION

FINE

Falcon Point Place

Exterior Light Pollution Violation

$400

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

y p p a H s ’ r e h t Mo Day! Selling? Contact Your Market Leader – Alison Elder!

PENDING – 20 DAYS ON MARKET

SOLD – 4 DAYS ON MARKET!

Tahoe Donner

1st Quarter Market Report | Jan 01 - Mar 31 2024 vs 2023

Donner TahoeTahoe Donner

11436RHINELANDAVENUE.COM 11772BROOKSTONEDRIVE.COM .

Single Family Homes Sold LISTED FOR $1,085,000 | SOLD FOR $1,105,580 4 BEDS | 3 BATHS | 3 CAR GARAGE | 2,016 SF 1st CLOSE QuarterOF Market Report | Jan16, 012024 - Mar 31 LISTED FOR $1,195,000 ESCROW: APRIL 1st Quarter Market Report | Jan 01 - Mar 31

Market Statistics 2024Q1 vs 2023 2024 vs 2023 | Single Family Homes Sold 2024 vs 2023

Top 10 Reasons to List with Alison 1. Receive Concierge Level Services – Always!

2. Deep, 22+ Years of Neighborhood Sales Expertise 3. Experienced Contract Negotiation Skills 4. Leads TD Sales Volume Year-Over-Year 5. Highest Median and Average TD Sales Prices 2024 6. Highest Concentration of TD Luxury Sales 7. Extensive Property Marketing and Advertising 8. Leading Technology Enabled Infrastructure 9. Customized Staging Services Designed for Impact 10. Our Elder Group Team Delivers RESULTS!

Single Family Homes Sold

Single Family Homes Sold

2023

Single Family Home

2024

2023

Median Sales Price

$1,205,000

$1,100,000

Change % 9.5%

Average List Price

$1,379,052

$1,141,109

20.9%

Average Sold Price

$1,350,905

$1,111,652

21.5%

Average Days on Market

65

36

80.4%

Highest Sold Price

$2,450,000

$1,850,000

32.4%

Lowest Sold Price

$701,040

$650,000

7.9%

Properties Sold

29

23

26.1%

2024

0.6%

Considering Selling? Contact Alison Today.

Sold Price to Last List Price

98.0%

2023

97.4%

Single Family Home

2024

Information gathered from TSMLS 04/03/2024.

2024

2023

2024

2023

Change % 9.5%

$1,141,109

20.9%

$1,111,652 80.4%

21.5%

65 $1,850,000

32.4% 36

80.4%

$650,000 $2,450,000

7.9% $1,850,000

32.4%

23 26.1% $701,040 $650,000 530.582.8103 Sold Price to Last List Price Properties Sold98.0% 97.4% 0.6% 23 tahoe@alisonelder.com 29 Information gathered from TSMLS 04/03/2024. eldergrouptahoerealestate.com

7.9%

$1,100,000

Check Out 2024 First Quarter Market Stats Here: Average List Price

Average Sold Price

Median Sales Price

C O M P A N Y

2023

$1,205,000

$1,379,052

$1,141,109

Average List Price $1,350,905

$1,111,652

Average Days on MarketAverage Sold Price65 AN

Change %

$1,100,000

Median Sales Price

Single Family Home $1,205,000

2023

Average Days on Market

Highest Sold Price $2,450,000 2023 RealTrends Ranking: Lowest Sold Price $701,040 Highest Sold Price Top 1.5% Nationally CA – Volume 103rd inProperties Sold Lowest Sold Price 29 36th in CA – Transactions

$1,379,052

$1,350,905 36

Alison Elder

Sold Price to Last List Price

98.0%

9.5%

20.9%

21.5%

97.4%

26.1% 0.6%

© 2024 Chase International. All rights are reserved by Chase International, and content may not be reproduced, downloaded, disseminated, published, or transferred in any form or by any means, except withInformation the prior written permission Chase 04/03/2 gathered fromofTSMLS International. All information is deemed reliable but is not guaranteed accurate. CA DRE License #01399851

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