Tahoe Donner News May 2021 by Tahoe Donner Association

ELECTION ROADMAP

TAHOE DONNER N

ANNUAL REPORT

BUSINESS DIRECTORY GREEN WASTE

CART SERVICE + KEY INFORMATION

M A Y

2 0 2 1

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INSIDE THE REPORT:

THE BUZZ:

ASSOCIATION UPDATES

EVENTS, DINING + UPDATES

Message from the General Manager

Dining Hours + Specials

Architectural Standards Office Summer Construction Requirements + Reminders

Club Updates

Business Directory

2020 ANNUAL REPORT

Graphical overview of Tahoe Donner‘s 2020 audited results and accomplishments

Green Waste: Cart Service + Key Information

FEATURES

Defensible Space Inspections

Briefs

THE BUZZ

Town of Truckee Update

Amenity updates and information

Board Meeting Recap

ROADMAP TO THE ELECTION

Key dates for the upcoming Board of Directors Election ON THE COVER: Tahoe Donner member Douglas DeVore took this photograph—titled “Euer Valley Splendor”—with the sun rising over the grasses and wildflowers around Prosser Creek in Euer Valley.

TAHOE DONNER NEWS |

VOLUME 22 | NO. 05

MAY 2021

EDITORIAL AND PRODUCTION TEAM Lindsay Hogan Joe Reeder Derek Moore

Drew Deurlington Ali Dickson Kylie Papson

SENIOR MANAGEMENT

David Mickaelian | General Manager dmickaelian@tahoedonner.com Annie Rosenfeld | Director of Risk Management + Real Property arosenfeld@tahoedonner.com Miguel Sloane | Director of Operations msloane@tahoedonner.com Todd Martyn-Jones | Director of Finance, Accounting + Business Support tmartynjones@tahoedonner.com Lindsay Hogan | Director of Communications + Member Relations lhogan@tahoedonner.com Jon Mitchell | Director of Capital Projects jmitchell@tahoedonner.com Miah Cottrell | Director of Information Technology mcottrell@tahoedonner.com Erika Stohl | Director of Human Resources estohl@tahoedonner.com Steve Turner | Director of Food + Beverage sturner@tahoedonner.com

BOARD OF DIRECTORS President | Don Koenes dkoenes@tahoedonner.com Vice President | Jim Roth jroth@tahoedonner.com Treasurer | Steve Mahoney smahoney@tahoedonner.com Secretary | Courtney Murrell cmurrell@tahoedonner.com Director | Charles C. Wu cwu@tahoedonner.com

POSTMASTER: Periodical postage paid at

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

EMAIL: comdep@tahoedonner.com ADVERTISING SALES: CC Media + Publishing is the exclusive advertising representative: (775) 327-4200 | laura@cc.media

PUBLISHING INFORMATION TAHOE DONNER ASSOCIATION HOLDS THE EXCLUSIVE SERVICE MARK RIGHT TO “TAHOE DONNER.” ANY UNAUTHORIZED USE OF SUCH WILL BE REGARDED AS AN INFRINGEMENT OF THAT SERVICE MARK RIGHT AND IS PROHIBITED. THE INCLUSION OF ADVERTISING IN THIS PUBLICATION DOES NOT CONSTITUTE AN ENDORSEMENT OR RECOMMENDATION BY TAHOE DONNER ASSOCIATION OR ITS BOARD OF DIRECTORS OF THE PRODUCTS, SERVICES OR VIEWS CONTAINED THEREIN. TAHOE DONNER NEWS (ISSN 1550-6061) IS THE OFFICIAL MONTHLY PUBLICATION OF TAHOE DONNER ASSOCIATION, WHICH IS LOCATED AT 11509 NORTHWOODS BLVD., TRUCKEE, CA 96161. EACH MEMBERSHIP PARCEL RECEIVES ONE SUBSCRIPTION TO A DOMESTIC ADDRESS. COST TO PRODUCE AND DISTRIBUTE THIS PUBLICATION IS OFFSET BY ADVERTISING REVENUES. PERIODICALS POSTAGE PAID AT TRUCKEE, CA, AND ADDITIONAL MAILING OFFICES. MEMBER LETTERS TO TAHOE DONNER ARE PUBLISHED IN THE MEMBERS SECTION OF TAHOEDONNER.COM, WHERE PUBLISHING GUIDELINES ARE AVAILABLE.

MESSAGE FROM THE

GENERAL MANAGER Dear members, This May marks my first spring at Tahoe Donner, and I am looking forward to our natural spaces slowly changing from a bustling winter ski enterprise to a summer haven. Our outdoor natural spaces were a refuge during restrictive pandemic lockdowns last year, and I look forward to seeing them transition into a summer full of camps, programs and open amenities.

WINTER SKI SUCCESS April 11 marked the last day of the 2020/21 winter season, which was full of family fun and hard work by our staff to keep the Downhill Ski Resort and Cross Country Ski Center safe. The popularity of XC skiing was met with guidance and leadership from Manager Sally Jones along with her staff. The safety and excitement at Downhill Ski Resort would not have been possible without Manager Robert McClendon and his team. Robert was nationally recognized for a 2021 SAMMY Leadership Award this season, and we are grateful for his invaluable force in shaping Tahoe Donner’s ski industry towards progress and success. Read more about Robert’s recognition on page 22. Despite COVID-19 restrictions, we were able to celebrate a season on the slopes and the trails without a single case of coronavirus spread. Thank you to everyone who participated in wearing a mask, physically distancing themselves from others and safely enjoying this unique winter season together. I’d also like to thank all Tahoe Donner staff whose efforts and dedication helped create a memorable winter season.

COMMITMENT TO SAFETY AND LAND MANAGEMENT The unique ecology drew many of us to Tahoe Donner, and staff have been looking at a centralized land management program

to address recreation, ecology and fire prevention as a well-coordinated effort to preserve this landscape. Staff already effectively uphold a standard-setting forest and fire management program as well as an abundant trail system; the goal with this program is to keep these open spaces and natural surroundings healthy and accessible with improved safety and efficiency. To learn more about land management, visit tahoedonner.com/land-management.

2022 WORKPLAN + BUDGET While it seems like we are only settling into 2021, the 2022 budget process begins this August. Staff are working on important 2022 goals to propose to the board. These goals advance the Tahoe Donner Five-Year Strategic Plan that in turn drive its budget. The budget will be strengthened by priorities and set to a sensible 2022 assessment. We are eager to learn how our budget goals can work to share costs while maintaining important services to the membership. To learn more about the Five-Year Strategic Plan, visit tahoedonner.com/strategic-plan.

REOPENING SUMMER AMENITIES We are all eager to hit the newly reopened Nature Loop Trail, relax at the Beach Club Marina with views of Donner Lake and experience the new menu and fresh take at Pizza on the Hill, which is opening for the season within the month. Learn more about amenity opening dates and restaurant hours in The Buzz, starting on page 6. As the snow continues to melt and our summer amenities begin to open, we ask that you treat our open spaces – especially the trail system – with respect and avoid muddy sections to keep our lands healthy for seasons of adventure to come. Be well, DAVID MICKAELIAN | GENERAL MANAGER

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TAHOE DONNER NEWS |

THE REPORT

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SUMMER CONSTRUCTION REQUIREMENTS + REMINDERS

By SHERYL WALKER, Architectural Standards Office Manager As the building season gets started this year, the Architectural Standards Office (ASO) would like to take this opportunity to remind our members and contractors of some of the requirements for building in Tahoe Donner.

CONSTRUCTION HOURS + WORKSITE REQUIREMENTS • The Town of Truckee Short-Term Rental and Noise Ordinance that came into effect January 1, 2021, is now more restrictive with construction noise than Tahoe Donner’s ASC Rules associated with construction hours. Please don’t start too early or work too late. Town of Truckee Ordinance 2020-07 Construction. Noise sources associated with construction, repair, remodeling, or grading of any real property; provided a permit has been obtained from the Town as required; and provided said activities do not take place between the hours of 7:00 p.m. and 7:00 a.m. on weekdays, between the hours of 5:00 p.m. and 8:00 a.m. on Saturdays, or at any time on Sunday or a federal holiday.

If you have concerns about a construction site, please address them directly to the contractor or the owner. Most are more than happy to take care of any concerns quickly and simply. If your concern is not resolved with this approach, please report concerns like garbage, litter, loud radios and more to the Architectural Standards Office at either (530) 587-9407 or aso@tahoedonner.com.

TEMPORARY SNOW SHELTER REMOVAL Now that the weather is warming and any lingering snow is well and truly melting, please remove any remaining snow protection devices (plywood covering windows and entranceways, etc.). Before storing them, please take the time to put a coat of paint or stain on them to keep them looking consistent with the rest of your house.

EXTERIOR CHANGES

• Store materials neatly on your property.

As a reminder, if you are doing any exterior work on your home, please call or email ASO prior to commencement and provide a description of the proposed work. Oftentimes the work is “like-for-like” and a quick call can help update your file with these notes. If the work changes the exterior of your house and/or garage with material or color changes or if new landscaping will be constructed on your lot, please contact ASO to see if a permit is required from Tahoe Donner. Please remind your contractor that all new exterior work, including landscaping projects, requires permits from both Tahoe Donner and possibly the Town of Truckee.

• Make sure the required sanitary facilities are on site prior to construction and that your employees use them.

Additionally, if you have any questions please stop by ASO, call (530) 587-9407 or send an email to aso@tahoedonner.com.

• Do not park on other people’s property or block the street or access easement. • Deliveries should be made only to the property under construction. • Be considerate of neighbors and reduce loud noises as much as possible. • Please play music at a reasonable level only, not loud enough to be heard over the noise of tools. • Keep construction sites tidy and free of debris.

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 587-9484 xc@tahoedonner.com Downhill Ski Resort 587-9444 ski@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 587-9437 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

ASSOCIATION COMMITTEE CHAIRS Architectural Standards Rod Whitten aso@tahoedonner.com Covenants Don Ermak covenantscommittee@ tahoedonner.com Elections Bette Rohrback electionscommittee@ tahoedonner.com

Finance John Dundas financecommittee@ tahoedonner.com General Plan Rob McCray robmccray@sbcglobal.net Giving Fund Suzanne Sullivan tdgf@tahoedonner.com

ASSOCIATION CHARTERED CLUB PRESIDENTS 9-Holers Women's Golf Judi Roberts judi@greenroberts.com

Mountain Bike Dustin Young dustinyoung75@gmail.com

Bridge Lynn Cordner lynn.cordner@gmail.com

Quilt Marilyn Dundas md11792@outlook.com

Equestrian Susan Terrell terrellsf@earthlink.net

Rowing Ward Sproat efs3@comcast.net

Friends of TD Trails B.R. Levine tdtrails@gmail.com

Senior Alpine Ski John Makin jmakin@sbcglobal.net

Hiking Robin Reese rbtahoe@sbcglobal.net

TD 4-Wheelers Bill Ratcliff club@td4wheelers.org

Junior Golf Jean Lai jslai@comcast.net

Tennis Michele Forsberg minkeysf@sbcglobal.net

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

Women’s Golf Denise Rebar denise_rebar@merithr.com

Men’s Golf Tim Pellegrini tncpellegrini@sbcglobal.net

MEMBER FEEDBACK Help improve the overall association. Submit your comments and concerns via Bestomer or by using our online form at tahoedonner.com/feedback.

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TAHOE DONNER NEWS |

THE

BUZZ EVENTS. DINING. UPDATES.

Summer is coming to Tahoe Donner! Opening days for your favorite amenities can be found below, including the much-anticipated opening of our renovated golf course! Mark your calendars for family fun this summer right at Tahoe Donner. No matter the season, it’s our highest priority to keep you safe. Masks covering your nose and mouth are required at all times indoors, in the parking lot, around trailheads, in lines and anywhere physical distancing cannot be maintained. Access to many amenities may need to be pre-purchased online, such as the Beach Club Marina, Golf Course, Trout Creek Recreation Center and Northwoods Pool.

TROUT CREEK REC CENTER HOURS OF OPERATION Gym | 6AM-9:30PM Lap Pool | 6AM-7:30PM Recreation Pool | 2-5:30PM

Race at the Lap Pool, enjoy the Recreation Pool or power up at the Gym for 90-minute sessions. Online reservations are currently required at shop.tahoedonner.com. Please check the website for up-todate COVID-19 guidelines and how they impact Gym and Rec Pool access.

RECREATION POOL SCHEDULED OPENING SATURDAY, MAY 29*

Enjoy the Rec Pool for more than just lap swim starting May 29. tahoedonner.com/troutcreek

For more information on COVID-19 safety, visit tahoedonner.com/covid19.

BEACH CLUB MARINA

GOLF COURSE

SCHEDULED OPENING

SCHEDULED OPENINGS

FRIDAY, MAY 28*

BOAT LAUNCH POLICIES

All motorized/trailered vessels launching in Donner Lake must first pass an invasive species inspection. For inspection station location and hours, call (888) 824-6267 or visit tahoeboatinspections.com.

FRIDAY, MAY 21* – DRIVING RANGE FRIDAY, MAY 28* – GOLF COURSE Welcome back to Tahoe’s most recently renovated course! After extensive course improvements, golfers of all skill levels can enjoy new greens, enhanced playability, an improved pace of play and more!

SEASON PASSES + PLAY PACKS ON SALE NOW

Visit tahoedonner.com/golf for details.

NORTHWOODS POOL SCHEDULED OPENING SATURDAY, JUNE 19*

Online reservations may be required at shop.tahoedonner.com. tahoedonner.com/aquatics

TENNIS CENTER

tahoedonner.com/golf

Vessels launched at the Beach Club Marina must be registered with Tahoe Donner. Vessel registration, proof of insurance and a release of liability waiver are required to launch at the Beach Club Marina during summer 2021. For more information or to register online, visit tahoedonner.com/marina. tahoedonner.com/marina

SCHEDULED OPENING SATURDAY, MAY 8*

CLINICS + PROGRAMS

Beginning May 15*, tennis clinics take place throughout the summer and focus on improving a wide range of tennis skills while enhancing overall health and fitness. For more information visit tahoedonner.com/tennis. tahoedonner.com/tennis

Operation plans subject to change due to State COVID-19 restrictions. All prices, dates, times and locations are subject to change. Please visit tahoedonner.com for the latest information. *Conditions permitting.

EQUESTRIAN CENTER

CAMPGROUND

SCHEDULED OPENINGS

SCHEDULED OPENING

TUESDAY, JUNE 1* – BOARDING SATURDAY, JUNE 19* – PONY RIDES

2021 SUMMER BOARDING

We offer long- and short-term horse boarding throughout the summer. Reservations are required. Learn more at tahoedonner.com/equestrian.

FRIDAY, MAY 21*

Make your reservations at reserveamerica.com. tahoedonner.com/campground

BASIC 12X24 MEMBER PADDOCK:

MEMBER NON-MEMBER MONTHLY $439 $589 WEEKLY $124 $199 DAILY $30 $49

SCHEDULED OPENING FRIDAY, JUNE 18*

Archery, rock climbing, geocaching, horseshoes, volleyball, bocce ball, bingo and more will return this summer! Check the web for more information. Recreation Adventure Day Programs begin June 14. For more details about each adventure day and availability, visit tahoedonner.com/adventure-days.

DAY CAMPS DAY CAMPS FULL

Saddle up with a pony ride for children ages 2-6 weighing 60 pounds or less. The parent leads the pony on a walk around our pony trail. Adult trail rides will be unavailable this season. Learn more at tahoedonner.com/equestrian.

Our week-long day camps have filled up for the season. If you are interested in putting your child on a waitlist for Day Camps, email daycamps@tahoedonner.com with your name, your child’s name, their age and a contact number.

tahoedonner.com/equestrian

tahoedonner.com/day-camps

BIKEWORKS SCHEDULED OPENING FRIDAY, MAY 28*

Ride into summer with bike rentals, repairs, retail and guided rides at Bikeworks!

PREP YOUR BIKE

Get your bike ready for the season with a basic tune-up that includes checking and tightening all fasteners, adjusting brakes and shifting, minor wheel true, adjusting hubs and headset and chain lubrication for just $75. For other work, bring your bike in or call (530) 582-9694. tahoedonner.com/bikeworks

CLUBS

RECREATION HUT

tahoedonner.com/rec-hut

PONY RIDES

BUZZ: 4 WHEELERS CLUB

2021 BOARDING RATES

Our 12-by-24-foot partially covered pipe corral paddocks are available and include daily cleaning, watering and feeding. Deluxe, large paddocks are also available.

THE

The snow tires are off the Jeep, and we’re ready to go exploring! Our first trip is to Brunswick Canyon in Carson City, over Sunrise Pass to a Como mine site and on to Dayton. Brunswick Canyon follows the Virginia and Truckee Railroad right of way and is much tamer than El Dorado Canyon located to the east. Como is claimed to be the site where Chief Truckee was buried, so it is definitely a historically significant area. There is a steep descent into the canyon and the roads are rough with rocks, but not boulders, so it is suitable for high-clearance 4WD vehicles. The TD4Wheelers.org main member page has a link to all the 2021 planned trail runs, and upon review, you’ll see we are planning more frequent runs this year. Registration is required in advance from the website, and space is limited. We look forward to seeing you!

MOUNTAIN BIKE CLUB The club is growing, and we are excited to see all the new member requests. We have a governing board and are getting closer to the logo being complete. We are watching the COVID-19 guidelines and planning summer events. The first group ride will be held June 5 from 12-4PM, and we will be meeting at the Alder Creek Adventure Center at 15275 Alder Creek Road. To be added to the email list and let us know you want to be part of the club, go to tdmtb.club and share your info. We will add you to the email list and get you on the club roster. Happy trails!

TAHOE DONNER NEWS |

THE BUZZ: CLUBS CONTINUED

JUNIOR GOLF CLUB

TD 9-HOLERS CLUB

QUILT CLUB

Welcome to Tahoe Donner Junior Golf Club. This year will see some changes due to COVID-19 restrictions, including a limit of 18 players per week and signups via the Pro Shop with a 2:30PM or 3PM arrival time. The first half-hour will be spent on chipping, putting games and drills. Then, kids of similar ages and abilities will spend time playing on the course.

As we look forward to spring and summer, our board has been busy developing our 2021 schedule. We cannot predict what the COVID-19 situation will be; however, we are moving forward and planning the events that we all enjoy. We will of course continue to follow the federal and local government guidelines for play.

The Tahoe Donner Quilt Club is once again making pillows for the Gene Upshaw Memorial Tahoe Forest Cancer Center. Although the club has not met since the pandemic started, these ladies, on their own, have made hundreds of masks for Tahoe Forest Hospital and the Tahoe Donner staff, helped the Days for Girls Truckee team and are now working on pillows for the Cancer Center.

This year, we will only play physically distant threesomes. The shamble format will remain the same, where each threesome play from the best position for fun prizes. We will be ferrying using the Golf Shop’s passenger cart. Some will play from the blue tees or 200-yard or 150-yard markers. Pay special $10 TDJGC green fees at the Pro Shop. For more information, contact Russ Lai at rslai@comcast.net or (925) 283-3735 before June 1 or (530) 582-0673 after June 1. We look forward to picking up where we left off!

Our club activities will begin on May 20 with a virtual orientation for ladies who were new this year and last year. We plan on our regular Thursday morning tee times at Tahoe Donner, and we are pleased to announce that we will have Tuesday afternoon tee times, too! Back by popular demand, we will be working with Old Brockway for golf days before and after Tahoe Donner’s golf course opens.

In just a few weeks these ladies have put together 145 pillows – well done, ladies! For information about the Tahoe Donner Quilt Club, contact Marilyn Dundas at md11792@outlook.com.

If you have questions about our club or would like more information, contact Club President Judi Roberts at judi@greenroberts.com.

WOMEN’S GOLF CLUB MEN’S GOLF CLUB Spring has sprung, and we are excited to begin our season with two great events! SEASON WELCOME GATHERING Sunday, May 30 | 4PM This informal social get-together with drinks and snacks is designed to reconnect club members after the long winter to celebrate the new golf season. Come see old friends and meet new members. Social only; no golf. Open to all members of the Tahoe Donner Women’s and Men’s Golf Clubs.

The Women’s Golf Club plans to resume our Tuesday play days on June 1 or as soon as the course opens for the season, but we have specifically set aside June 15 to welcome our many new members to our club. Each new member will have a “big sister” assigned to be their “go-to” resource for the season. In addition to playing together on June 15, the big sister will be there throughout

SENIOR ALPINE SKI CLUB bike rides, hikes, kayaks and paddleboard adventures; we will be planning a similar summer of fun and hopefully including outdoor get-togethers.

THE ICE BREAKER Sunday, June 13 | 12PM with a shotgun start Our annual season kickoff tournament and mixer is always a well-attended favorite. Shamble format with teams assigned by the Pro Shop. Food, drink and slightly exaggerated golf stories immediately following play. Open to all TDMGC members. If you need more information or are interested in joining our more than 170 club members (including 35+ new members!), please visit our website at tdgolfclub.com for details.

the season to offer information and answer questions about our club traditions as needed. As this goes to press, we are looking for a date to introduce our new members to their big sisters and our board members before June 15. It’s not too late to join the Women’s Golf Club for the 2021 season; for more information, email tdwgclub@gmail.com.

Mother Nature couldn’t decide whether it was winter or spring in March. Despite a difficult pandemic year and lack of normal snowpack, our members enjoyed dozens of fun club ski days at local and distant resorts. Four skiers also heliskied untracked powder in the Ruby Mountains near Elko, Nevada. Our board will be holding an election for new board members as well as summer event plans. Last summer, we were able to participate in safe, social-distanced

Please visit our website at tdski.com for more information. New skiing and social membership signup are available for the 2021-2022 season. Summer activities are a good way to meet new people to enjoy all the Tahoe seasons. We are always welcoming enthusiastic new members who enjoy skiing, boarding and regional year-round outdoor adventures.

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TAHOE DONNER NEWS |

THE

BUZZ:

DINING

Pizza on the Hill is back and is serving up a new menu with delicious options for everyone, including a range of fresh pizzas, handmade pastas, appetizers, sandwiches, a locally sourced salad bar and more. 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

Check the web for upcoming spring and summer hours.

The Lodge Restaurant & Pub is an award-winning neighborhood bistro with plenty of outdoor seating and spectacular views. They offer a handpicked wine selection and craft cocktail menu as well as serve local and organic meat and produce. Order dinner, drinks and desserts the whole family is sure to enjoy.

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

HOURS

MAY 28*-AUGUST 18 Daily | 11:30AM-8:30PM AUGUST 19-SEPTEMBER 2 Daily | 5-8:30PM STARTING SEPTEMBER 3 Thursday-Monday | 5-8:30PM

HAPPY HOUR

DAILY | 5-6PM Enjoy food and drink specials every day Pizza on the Hill is open.

OUTDOOR FAMILY FUN

Bocce, horseshoes and sand volleyball equipment are available for free check-out after 5PM. ID required. 11509 NORTHWOODS BLVD (530) 582-9669 TAHOEDONNER.COM/PIZZA

HOURS

Daily | 5-9PM Summer lunch on The Pavilion starting May 28* | 11:30AM-3PM Make a dinner reservation (Pavilion lunch reservations not available) online at OpenTable.com or call (530) 587-9455. Golfers are invited to The Pavilion for daily food and drink specials from 2-4PM during golf season.

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.

The Tee Nine Grill offers golfers a great range of tasty food options for breakfast and lunch plus a full bar to enjoy before, during or after your round. Call (530) 582-9628 to place an order.

CINCO DE MAYO

HOURS

Limited food selections will be available June 1-17 and September 7-October 3.

Tee Nine Grill operates throughout summer while Tahoe Donner Golf Course is open.

GOLFERS HAPPY HOUR

Celebrate May 5 this year with dinner specials, $7 house margaritas and $3 Coronas. View menu on the web.

NO CORKAGE TUESDAYS Bring in your favorite bottle of wine on Tuesdays and we will waive the corkage fee. 12850 NORTHWOODS BLVD (530) 587-9455 TAHOEDONNER.COM/THELODGE

MAY 28*-OCTOBER 3 Daily | 11AM-6PM

STARTING MAY 28* Daily | 10AM-4PM

MARGARITA MONDAYS

GRAB-AND-GO BREAKFAST

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

12850 NORTHWOODS BLVD (530) 582-9628 TAHOEDONNER.COM/TEE-NINE

Margaritas are just $5 every Monday from June 17-August 26.

Available 30 minutes before first tee time until 10AM in the Pro Shop.

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. *Conditions permitting.

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TAHOE DONNER NEWS |

Dear members, Last year was a time no one will soon forget. It was a trying time that forced the Tahoe Donner team to make tough decisions, exercise creativity, remain resilient and adapt to whatever restrictions, guidelines, hurdles and opportunities came at us. Despite these challenges and scary times, our community banded together and our collective passion for nature and the outdoors allowed our neighborhood to expand and see our Tahoe Donner neighbors more regularly. In March of 2020, the association was forced to shut its doors to the downhill and cross country ski areas due to the State of California Stay at Home Order. This halted important revenue streams that the ski areas usually provide to the association, not to mention how it impacted the member experience. COVID-19 caused the gym, pools, saunas and restaurants to close as well as our summer operations and capacities to be limited. All this left an impact on the financials of the association, as 60% of revenue comes from user fees (the other 40% comes from Annual Assessments). During these challenging times, the Tahoe Donner Board of Directors acted swiftly to protect the association by making hard decisions to reduce expenses through strategic furloughs and reviews of association improvements. Although revenue continued to be below budget for the remainder of the year, diligent cost-savings measures by staff kept pace to make up for the revenue losses and allowed the association to finish the year slightly ahead of the 2020 budget. Tahoe Donner stands at a strong financial position today, posting a net operating surplus of $696,534 after Assessment Revenue, continued capital investment in the association of over $5 million and a 6% increase in Member Equity over 2019. We must continue to reinvest in the association’s aging infrastructure. Once we get through COVID-19 impacts, we will reassess the Operating Fund contingency and possibly transfer a portion of the 2020 operating surplus into our capital improvement needs as we have done in the past. We are well into the 2021 budget year. Visitation and revenue quickly gained momentum thanks to the community’s keen interest in outdoor recreation as well as the relaxing of COVID-19 restrictions. Having recorded a net operating loss in January, strong visitation in February and March along with operating-expense savings resulted in a positive net operating result of $763,000 for the first quarter. Staff are diligently watching costs as we ramp up to summer and safely operate with greater capacity so more members are able to enjoy our amenities. We thank the membership for your understanding of how 2020 may have impacted you directly and for sharing the burden of these mandated closures and capacity restrictions. We look forward to seeing you back at our amenities this year, and we hope you are able to enjoy your home and all the benefits this community provides in 2021.

Sincerely,

GEOFF CHIN

Stephen Mahoney Treasurer, Board of Directors

David Mickaelian General Manager

2020

ANNUAL REPORT

$10,420

PER OWNER MEMBER EQUITY A 6% INCREASE FROM 2019

$5.3 MILLION

IN CAPITAL EXPENDITURES

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

$2.9 MILLION

IN OPERATING FUND RESERVES

A PROVEN NECESSARY CONTINGENCY FUND BALANCE WITH THE COVID-19 PANDEMIC

$696,534

NET OPERATING RESULTS IN OPERATING FUND COVID-19 IMPACTS ACROSS AMENITIES DETAILS ON PAGE 2

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

TAHOE DONNER 2020 ANNUAL REPORT |

$696,534 FAVORABLE NOR RESULTS

Dear Members,

Net Operating Result Loss of $5.2 million was $696,534 or 12% favorable to Budget and $297,324 or 6% unfavorable to 2019

The purpose of this Annual Report is to provide a comprehensive report on 2020 financial results. The onset of COVID-19 during Quarter 1 of 2020 had a substantial negative impact on our Operating Revenues while we saw savings in Payroll and Operating Expenses.

$9.5 MILLION OPERATING REVENUES 33% below Budget and 36% below 2019

$14.6 MILLION OPERATING COSTS

28% favorable to Budget and 25% favorable to 2019

Management, the Finance Committee and the Board regularly monitor both operational and financial results. We are committed to both responsive and proactive management, balancing our service levels to volume and financial performance.

$5.3 MILLION CAPITAL FUNDS EXPENDITURES

47% less expenditure to Budget due to timing of projects and deferral due to COVID-19

$5.9 MILLION | $910 PER OWNER

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

Assessment Contribution to Operating Fund in 2020

$7.5 MILLION | $1,155 PER OWNER

TODD MARTYN-JONES DIRECTOR OF FINANCE, ACCOUNTING + BUSINESS SUPPORT tmartynjones@tahoedonner.com (530) 587-9418

Assessment Contribution to Capital Fund in 2020

$75.8 MILLION TOTAL ASSETS Up $4.4 million or 6% to 2019

$67.4 MILLION | $10,420 PER OWNER

tahoedonner.com/financials

Members’ Equity as of 12/31/2020, up 6% to 2019

OPERATING FUND

NET OPERATING RESULTS – 2020 VARIANCES TO BUDGET NOR FAVORABLE TO BUDGET $696,534 | 8% | $107.61 PER OWNER JANUARY-FEBRUARY / PRE-COVID-19

• Revenues up favorable $318,422 or 8% to Budget

Great ski conditions with stable weather offering many bluebird days on a good snowpack. Visitation at the Downhill Ski Resort was 7% up on Budget while the Cross Country Ski Center was 99% up on Budget.

• Total Operating Expenses (COGS, Payroll and Other Operating Expenses) favorable $25,764 or 1% to Budget

MARCH-OCTOBER / COVID-19 SHUTDOWN

• Revenues were $4,169,065 or 52% below Budget

Revenues were severely impacted by COVID-19 restrictions including stayat-home orders, no indoor dining—or, for a period, no dining whatsoever— and closure of recreation facilities. Considerable expenses were saved within Payroll and Operating Expenses due to reduced staffing requirements and overall reduced activity.

• Total Operating Expenses (COGS, Payroll and Other Operating Expenses) were favorable to Budget by $4,549,836 or 34%

NOVEMBER-DECEMBER / COVID-19 IN WINTER

• Revenues were below Budget by $906,727

With COVID-19 on the rise in November, greater restrictions were reimplemented, impacting Day Tickets at Downhill and Trail Passes at Cross Country, Lessons and Rentals at both facilities along with F+B at all outlets.

• Total Operating Expenses (COGS, Payroll and Other Operating Expenses) were favorable to Budget by $878,560

• Net Operating Result favorable $344,186 or 104% to Budget

• Net Operating Result favorable $380,771 to Budget or 7%

• Net Operating Result was below Budget by $28,423

With only 20 inches of snow at Snowplay during December, snowmaking allowed us to be open for the holiday period—albeit at reduced capacity— missing budgeted revenue by only 10%. Downhill, however, was well below Budget by 58% in December, while Cross Country revenue was better than Budget by 44% due to strong pass sales.

REVENUE AND PAYROLL OPERATING REVENUES

2016 $ 12,771,029

2017 $ 13,116,553

2018 $ 13,535,047

2019 $ 14,695,538

2020 $ 9,456,935

EMPLOYEE W-2s ISSUED

897

924

958

954

695

W-2s PER $1,000 REVENUE RATIO

AVERAGE WAGES PER W-2 ISSUED

9,826

10,276

10,181

11,086

10,260

CALIFORNIA MINIMUM WAGE (1)

10.00

10.50

11.00

12.00

13.00

SEASONAL/PART-TIME FTE (3)

128.2

133.0

125.0

123.0

79.0

FULL-TIME REGULAR (2) FTE (3)

81.0

82.0

84.0

83.0

62.0

FTE (3) TOTAL

209.2

215.0

209.0

206.0

141.0

OPERATING REVENUE PER FTE W-2 TO FTE RATIO

61,047 4.3

61,007 4.3

64,761 4.6

71,338

67,070

4.6

The Association employs a high percentage of entry-level seasonal customer service, positions to operate the various amenities of the Association. Due to COVID-19, this number was significantly less than previous years, as can be seen based on the number of W-2s issued in 2020. (1) California Minimum Wage; increased to $12.00 per hour in 2019 and $13.00 per hour in 2020. (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.

| TAHOE DONNER 2020 ANNUAL REPORT

4.9

Chart dollars in thousands

$16,000 $14,000 $12,000

91%

92%

$10,000

87%

$8,000 $6,000 $4,000 $2,000

$0 2019 ACTUAL 2020 BUDGET 2020 ACTUAL OPERATING REVENUE OPERATING PAYROLL PAYROLL PERCENT OF REVENUE 2020 ACTUAL VERSUS BUDGET REVENUE DOWN 34%, PAYROLL COSTS DOWN 30% 2020 ACTUAL VERSUS PRIOR YEAR REVENUE DOWN 36%, PAYROLL COSTS DOWN 29%

CALIFORNIA MINIMUM WAGE UP $1.00 OR 8% IN 2020 VERSUS 2019

ANNUAL ASSESSMENT

DISTRIBUTION OF 2020 ANNUAL ASSESSMENT

$2,065 PER OWNER DISTRIBUTION OF 2020 ANNUAL ASSESSMENT ($2,065 PER OWNER) $1,000

GRAY BARS ARE PRIOR YEAR 2019 BUDGET ($1,965 IN TOTAL) FOR COMPARISON

$900 $800

34% / $710

$700 $600

22% / $455

$650

$500

19% / $385

$400

15% / $305

$552

$300

10% / $210

$200 $100 $0

$184

$214

HOA SERVICES FOR MEMBERS

$365

HOA FORESTRY + FIRE PREVENTION

PRIVATE AMENITIES

PUBLIC AMENITIES

FUTURE CAPITAL NEEDS

ANNUAL ASSESSMENT OWNER BY FUND ANNUAL ASSESSMENT PERPER OWNER BY FUND

$996

2021

$801

$910

2020

$770

$880

2019

$30

2016

$546

2012 2011 2010 $

$200

$695

$400

$695

$360

$695

$348

$400

$600

OPERATING

$800

$30 $25 $25

$1,000

REPLACEMENT RESERVE

COMPOUND ANNUAL GROWTH RATE (CAGR) METRICS 2010-2020

2010-2021

CAPITAL FUNDS

6.7%

7.8%

OPERATING FUND

2.7%

2.5%

TOTAL ASSESSMENT 4.7%

5.1%

10 YEAR

$30

$434

$791

2013

$30

$478

$842

2014

$30

$526

$994

2015

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.

$250 $250 $232

$1,200

$250 $250

$250

$2,065 $1,965

$1,900

$300 $30

$2,241

$355

$310

$30

$595

$1,074

$444

$335

$30

$620

$975

2017

$30

$720

$940

2018

Capital portion 56% in 2021

$1,900

$250

$1,900 $1,800

$1,600

$1,505

$1,375 $1,330

Capital portion 47% in 2010

$1,300 $1,400

$1,600

NEW EQUIPMENT

$1,800

$2,000

$2,200

$2,400

DEVELOPMENT

KEY NOTES Capital Funds Portion of Annual Assessment

Operating Fund Portion of Annual Assessment

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

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

We 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.

• For 2017-2019, the Operating Fund portion was decreased due to favorable revenue trends, our snowmaking investment and price increases as well as a favorable decrease in workers’ compensation costs, all favorably offsetting California minimum wage increases.

• The Development Fund portion was held at $250 for six years (2011-2016) and we are now increasing to recognize the 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 membership. More Capital Funds historical information on pages 10-11

• For 2020, the Operating Fund portion was increased by $30 per owner to offset minimum wage increases and other operating costs. • For 2021, the Operating Fund portion was increased by $86 per owner to offset minimum wage increases and a 23% increase in liability insurance; there was no Assessment increase to the New Machinery + Equipment Fund. More Operating Fund historical information on page 4

TAHOE DONNER 2020 ANNUAL REPORT |

OPERATING FUND

CAGR = COMPOUND ANNUAL GROWTH RATE

OPERATING FUND ACTUAL ACTUALRESULTS RESULTS $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)

2010

2011

2012

2013

OPERATING REVENUES

2014

2015

OPERATING COSTS

2016

2017

2018

2019

2020

NET OPERATING RESULTS

Both Revenues and Operating Expenses were greatly reduced due to COVID-19 in 2020 compared to the prior four years. However, the Net Operating Result remains relatively flat over that period. NOTE: Each year is subject to volatility due to weather and other variables. See page 28 for Budget growth information.

OPERATING FUND MEMBERS’ EQUITY OPERATING FUND

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

+ $650,000 favorable results in 2018 - $500,000 transfer to Replacement Reserve Fund

$4,000,000

$150,000 (A) 2018 change in Operating Fund equity + $801,000 favorable results in 2019

$3,000,000 $2,000,000

$2,935,290 (C)

- $1,000,000 transfer to Replacement Reserve Fund - $199,000 (B) 2019 change in Operating Fund equity

(A)

+ $696,534 favorable results in 2020 - $

(B)

0 transfer to Replacement Reserve Fund

$1,000,000 $0

2010

2011

2012

FROM THE 2010 BUDGET TO THE 2020 BUDGET 10-YEAR CAGR 5.3% OPERATING REVENUE GROWTH 4.6% OPERATING COSTS GROWTH 2.7% NET OPERATING RESULT LOSS (THIS LOSS EQUATES TO THE PORTION FUNDED BY THE ANNUAL ASSESSMENT) See page 28 for more Budget Growth Information

| TAHOE DONNER 2020 ANNUAL REPORT

2013

2014

2015

2016

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

2017

2018

2019

2020

FOR 2021 BUDGET The 2021 budget was determined with the assumption that COVID-19 will have a considerable impact on Operations for the first half of the year.

NET RESULTS AFTER REPLACEMENT RESERVES CAPITAL CHARGE

CHART DOLLARS IN THOUSANDS

BY DEPARTMENT

-42.371 -61.600 -71.472

Net Operating Result (NOR) is defined as operating revenues less cost of goods sold and operating payroll and expenses. Net Results after Reserves Capital Charge is NOR plus a Replacement Reserve Capital Charge (presented in this chart).

BEACH CLUB MARINA

Refer to pages 6 and 7 for additional details.

-107.143 -235.800 -186.012

RECREATION PROGRAMS

-77.122 -250.100 -171.423

TENNIS CENTER

-679.157 -882.000 -847.696

TROUT CREEK RECREATION CENTER + AQUATICS

-158.865 -144.300 -177.837

ALDER CREEK CAFE

-83.570 -185.000 -215.206

PIZZA ON THE HILL

-60.489 -159.600 -160.561

THE LODGE, SUMMER LUNCH + GOLF FOOD SERVICE

-907.679 -1,034.200 -806.552

THE LODGE, DINING + BANQUETS

80.316 69.500 17.835

2020 ACTUAL -$10,178,211 2020 BUDGET -$10,875,000 2019 ACTUAL -$9,556,886

19.854

-31.900 -32.981

TRAILS

-221.286 -268.100 -263.627

EQUESTRIAN CENTER

-364.300 -136.591 -1,437.529 -1,660.400 -1,587.022

141.406

HOA + ADMINISTRATION

-$3,000

-$2,750

-$2,500

-$2,250

-$2,000

-$1,750

-$1,500

-$1,250

-$1,000

-$750

-$500

CAMPGROUND

25.372 36.100 36.700 105.108

AMENITIES

BIKEWORKS

-315.369 -483.700 -395.755

-32.126 -92.700 -85.122

SNOWPLAY

DAY CAMPS

-$250 NEGATIVE

CROSS COUNTRY SKI CENTER GOLF COURSE

-239.429 -208.900

DOWNHILL SKI RESORT

-41.126 -475.800 -351.788

ARCHITECTURAL + MEMBER SERVICES

-1,680.352 -1,971.300 -1,546.365

FORESTRY, DEFENSIBLE + OPEN SPACE

-995.905 -2,470.900 -2,716.817

GENERAL HOMEOWNERS ASSOCIATION

$250

$500

POSITIVE

TAHOE DONNER 2020 ANNUAL REPORT |

OPERATING FUND RESULTS

2020 DEPARTMENTAL SUMMARY 2020 OPERATING FUND GROSS REVENUE

OPERATING COSTS TOTAL

AMOUNTS INCLUDING NET OPERATING RESULTS

2020 NET RESULTS AFTER RRF

CONTRIBUTION TO REPLACEMENT RESERVE FUND

PRIVATE AMENITIES Trout Creek Rec Center + Aquatics

668,271

-810,428

$ -142,157

-537,000

-679,157

Beach Club Marina

464,555

-253,239

211,316

-131,000

80,316

Tennis Center

352,122

-256,244

95,878

-173,000

-77,122

-38,143

-69,000

-107,143

1,534

-20,905

-19,371

-23,000

-42,371

1,486,482

-1,378,959

107,523

-933,000

-825,477

86,618

-616,147

-529,529

-908,000

-1,437,529

Downhill Ski Resort

3,461,292

-2,520,721

940,571

-1,180,000

-239,429

Cross Country Ski Center

Recreation Programs Day Camps TOTAL PRIVATE AMENITIES

PUBLIC AMENITIES Golf Course

1,265,594

-785,486

480,108

-375,000

105,108

Snowplay

153,021

-101,649

51,372

-26,000

25,372

Campground

119,887

-85,013

34,874

-67,000

-32,126

78,689

-189,975

-111,286

-110,000

-221,286

Equestrian Center

1,127

-105,496

-104,369

-211,000

-315,369

172,179

-141,325

30,854

-11,000

19,854

1,299,787

-1,721,466

-421,679

-486,000

-907,679

5,264

-42,753

-37,489

-23,000

-60,489

-18,570

-65,000

-83,570

349,064

-476,929

-127,865

-31,000

-158,865

TOTAL PUBLIC AMENITIES

6,992,522

-6,805,530

186,992

-3,493,000

-3,306,008

TOTAL AMENITIES

8,479,004

-8,184,489

294,515

-4,426,000

-4,131,485

295

-701,200

-700,905

-295,000

-995,905

Architectural Standards Office

325,269

-340,395

-15,126

-26,000

-41,126

Forestry, Defensible + Open Space

173,372

-1,615,724

-1,442,352

-238,000

-1,680,352

498,936

-2,657,319

-2,158,383

-559,000

-2,717,383

240,013

-602,564

-362,551

217,935

-335,027

-117,092

-466,205

Trails Bikeworks The Lodge, Dining + Banquets The Lodge, Summer Lunch + Golf Food Service Pizza on the Hill Alder Creek Cafe

HOMEOWNERS ASSOCIATION General HOA

TOTAL HOA

AMENITY + HOA SUPPORT SERVICES Communications Facility Administration + Risk Management Administration

-602,876

1,325

-685,683

-684,358

Human Resources

-329,913

Member Services

19,722

-226,446

-206,724

Information Technology Accounting + Finance

Maintenance TOTAL SUPPORT SERVICES TOTAL OPERATING RESULTS Assessment Revenues

TOTAL OPERATING FUND

| TAHOE DONNER 2020 ANNUAL REPORT

-559,624

478,995

-3,808,338

-3,329,343

9,456,935

-14,650,146

-5,193,211

-4,985,000

-10,178,211

5,889,745

$ 15,346,680

$ -14,650,146

$ 696,534

10,874,745

4,985,000 $

696,534

YEAR ENDING DECEMBER 31, 2020 REPLACEMENT RESERVE CAPITAL CONTRIBUTION 2020 PER PROPERTY 6473

-105

2019 PER PROPERTY 6473

-131

2020 NOR VERSUS BUDGET 2020 BUDGET

2020 VS BUDGET

143,700

-285,857

2020 VS 2019

2020 NOR VERSUS PRIOR YEAR 2019 ACTUAL*

-345,599

2020 VS 2019

203,442

337,200

-125,884

140,321

70,995

-12

-26

14,900

80,978

-9,668

105,546

-17

-29

-30,600

-7,543

-121,498

83,355

-7

-11

29,800

-49,171

-49,967

30,596

-128

-194

495,000

-387,477

-386,411

493,934

-222

-245

-524,700

-4,829

-738,038

208,509

-37

-59

1,464,800

-524,229

1,244,723

-304,152

-21

235,700

244,408

214,036

266,072

-2

120,000

-68,628

61,010

-9,638

-5

-13

11,200

23,674

-22,478

57,352

-34

-41

-81,000

-30,286

-160,778

49,492

-49

-61

-209,800

105,431

-198,469

94,100

-5

13,600

17,254

-22,696

53,550

-140

-125

-15

-122,200

-299,479

-352,141

-69,538

-9

-25

-84,300

46,811

-139,051

101,562

-13

-33

1,000

-19,570

-154,432

135,862

-25

-27

-23,300

-104,565

-148,853

20,988

-511

-568

801,000

-614,008

-417,167

604,159

-638

-762

124

1,296,000

-1,001,485

-803,578

1,098,093

-154

-420

266

-943,000

242,095

-2,440,976

1,740,071

-6

-54

-323,000

307,874

-327,499

312,373

-260

-239

-21

-1,545,000

102,648

-1,323,833

-118,519

-420

-713

293

-2,811,000

652,617

-4,092,308

1,933,925

-56

-551,000

188,449

-362,551

-18

-326,000

208,908

-117,092

-72

-555,000

88,795

-466,205

-93

-718,000

115,124

-602,876

-106

-946,000

261,642

-684,358

-51

-379,000

49,087

-329,913

-32

-252,000

45,276

-206,724

-86

-845,000

285,376

-559,624

-514

-4,572,000

1,242,657

-3,329,343

-1,058

-1,475

417

-6,087,000

893,789

-4,895,886

-297,325

1,680

1,600

5,890,000

-255

5,696,445

193,300

622

$ 125

$ 497

-197,000

893,534

$ 800,559

$ -104,025

* 2019 Actual has been restated to include Overhead Allocation amounts based on the 2020 methodology

SEE PAGES 8-9 FOR RESULTS BY DEPARTMENT HIGHLIGHTS TAHOE DONNER 2020 ANNUAL REPORT |

OPERATING FUND RESULTS

2020 HIGHLIGHTS VERSUS BUDGET FAVORABLE VARIANCE TO BUDGET

UNFAVORABLE VARIANCE TO BUDGET

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

PUBLIC AMENITIES DOWNHILL SKI RESORT

THE LODGE

SNOWPLAY

NOR $940,571

NOR LOSS ($421,679)

NOR $51,372

UNFAVORABLE -$524,229 / 36% TO BUDGET

UNFAVORABLE -$229,479 / 246% TO BUDGET

UNFAVORABLE -$68,628 / 57% TO BUDGET

Early close to season in March 2020. Limited to grab-and-go-only F+B options and unable to provide Group Lessons in December 2020.

COVID-19 impact. Closed March 16-April 30. No banquets or weddings all year.

ANNUAL: Visits down 45% to Budget; Revenue down 48%/$143,000; Costs down 42%/$74,000.

ANNUAL: Visits down 24%; Revenue down 28%/$1,320,708; Costs down 24%/$796,000.

ANNUAL: Visits down 53%; Revenue down 45%/$1,040,000; Costs down 30%/$740,000 (Payroll savings of 29%/$389,000).

TRAILS

PIZZA ON THE HILL

NOR LOSS ($104,369)

NOR LOSS ($18,570)

FAVORABLE $105,431 / 50% TO BUDGET

UNFAVORABLE -$19,570 / 1,957% TO BUDGET

Savings of 49%/$79,000 in payroll; Operating costs up 50%/$106,000.

Closed for the year due to COVID-19.

GOLF COURSE NOR LOSS ($529,529)

ANNUAL: Revenue down 100%/$335,000; Costs down 94%/$315,000.

CAMPGROUND

UNFAVORABLE -$4,829 / 1% TO BUDGET

NOR $34,874

Golf Course closed for season. Driving Range revenue up 122%/$37,000. $20,000 in revenue for rentals of Association’s golf carts to third party.

FAVORABLE $23,674 / 211% TO BUDGET

ANNUAL: Revenue up 189%/$57,000; Costs up 11%/$61,000.

BIKEWORKS NOR $30,854 FAVORABLE $17,254 / 127% TO BUDGET

COVID-19-friendly activity. Continued increase in sales due to reservation software. ANNUAL: Visits up 24%; Revenue up 25%/$24,000; Costs up 0.5%/$200.

CROSS COUNTRY SKI CENTER NOR $480,108 FAVORABLE $244,408 / 104% TO BUDGET

EQUESTRIAN CENTER NOR LOSS ($111,286) UNFAVORABLE -$30,286 / 37% TO BUDGET No trail rides or camps due to COVID-19. Addition of horse leasing opportunities impact Equestrian favorably $22,000. ANNUAL: Visits down 35%; Boarding Revenue up 66%/$21,000; Overall Revenue down 69%/$175,000; Costs down 43%/$145,000.

SUMMER F+B NOR LOSS ($37,489) FAVORABLE $46,811 / 56% TO BUDGET Significant payroll savings due to COVID-19 and Golf Course closure saw a favorable result to Budget. ANNUAL: Revenue down 95%/$150,000; Costs down 81%/$198,000 (Payroll savings of 93%/$124,000).

ALDER CREEK CAFE

COVID-19-friendly activity.

Record season pass sales and strong visitation numbers contribute to strong positive results.

NOR LOSS ($127,865)

ANNUAL: Visits up 61% to Budget; Revenue up 24%/$33,000; Costs up 13%/$16,000.

ANNUAL: Visits up 38%; Revenue up 2%/$23,594; Costs down 22%/$221,000.

COVID-19 impact.

| TAHOE DONNER 2020 ANNUAL REPORT

UNFAVORABLE -$104,565 / 449% TO BUDGET ANNUAL: Visits down 53%; Revenue down 52%/$374,000; Costs down 36%/$269,000 (Payroll savings of 32%/$134,000).

PRIVATE AMENITIES

SUPPORT SERVICES

TROUT CREEK REC CENTER + AQUATICS

ADMINISTRATION + FINANCE

NOR LOSS ($142,157)

NOR LOSS ($1,150,563)

UNFAVORABLE -$285,857 / 199% TO BUDGET

FAVORABLE $350,437 / 23% TO BUDGET

TROUT CREEK: Closed all of April and May due to COVID-19. Visits down 54% to Budget; Revenue down 56%/$834,000 (Recreation Fee Sales down 21%/$131,000); Costs down 40%/$548,000 (Payroll savings of 45%/$307,000).

Cost savings due to vacancy of General Manager, Director of Finance and Controller positions (Payroll savings of 45%/$683,485).

AQUATICS: Revenue down 78%/$220,000; Costs down 45%/$127,000 (Payroll savings of $72,000 due to COVID-19).

ARCHITECTURAL STANDARDS OFFICE NOR LOSS ($15,126)

TENNIS CENTER

FAVORABLE $307,874 / 95% TO BUDGET Revenue up 86%/$150,000; Costs down 32%/$158,000.

NOR $95,878 FAVORABLE $80,980 / 543% TO BUDGET COVID-19-friendly activity. Recreation Fee scans up (Recreation Fee revenue up 52%/$50,000). Visits down 4%; Revenue up 44%/$108,000 (Lessons and Rentals up 132%/$76,000); Costs up 12%/$27,000.

BEACH CLUB MARINA

FORESTRY NOR LOSS ($1,442,352) FAVORABLE $102,648 / 7% TO BUDGET Timber sales of $65,000 versus Budgeted sales of $0. Increase of transfer fees due to housing sales during COVID-19. Revenue up 210%/$117,000; Costs up 1%/$15,000.

NOR $211,316 UNFAVORABLE -$125,884 / 37% TO BUDGET Reservation system and limited time per reservation contribute to increase in visits. Visits up 8% to Budget; Revenue down 42%/$333,000; Costs down 45%/$208,000 (Payroll savings of 44%/$144,000).

COMMUNICATIONS NOR LOSS ($362,551) FAVORABLE $188,452 / 34% TO BUDGET

RECREATION PROGRAMS

Advertising revenue up 14%/$30,000. Payroll savings of 19%/$109,000 and Operating Expense savings of 25%/$49,000.

NOR LOSS ($38,143) UNFAVORABLE -$7,543 / 25% TO BUDGET No concert due to COVID-19. Revenue down 100%/$190,000; Costs down 94%/$183,000.

DAY CAMPS COURT LEVE

NOR LOSS ($19,371) UNFAVORABLE -$49,171 / 165% TO BUDGET Day Camps canceled for season due to COVID-19. Revenue down 99%/$290,000; Costs down 92%/$241,000.

TAHOE DONNER 2020 ANNUAL REPORT |

CAPITAL RESERVES

REPLACEMENT RESERVE FUND REPLACEMENT RESERVE FUND

MEMBERS EQUITY BALANCE) AND PERCENT FUNDED MEMBERS’ EQUITY(FUND (YEAR-END FUND BALANCE) + PERCENT FUNDED $12,000,000 $10,000,000

32%

33%

27%

25%

$8,000,000

19%

26%

35%

29%

28%

35% 30% 25%

19%

20%

$6,000,000

15%

$4,000,000

10%

$2,000,000

2010

2011

2012

2013

2014

• The Replacement Reserve Fund is the capital reserve fund for existing asset components of the Association. This is a savings fund 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, and a complete physical inspection of all components is performed every three years. • The Association has a Replacement Reserve Fund policy which 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.

2015

2016

2017

2018

2019

2020

PERCENT FUNDED*

YEAR-END MEMBERS’ EQUITY BALANCE

$14,000,000

• The funding level from the Annual Assessment generally needs to increase each year to keep pace with inflation. • The Association has a fiduciary duty to adequately reserve for the preservation of assets, which ultimately protects property values. • The Board of Directors approved $1,500,000 (2017), $500,000 (2018) and $1,000,000 (2019) transfers from Operating Fund surpluses to this fund. • The 2020 assessment funding level was $770 per owner or $4,985,000, an increase of 7% over 2019. • The 2021 assessment funding level was $801 per owner or $5,184,873, an increase of 4% over 2020.

*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 2021 Budget Report for more information on the Reserve Schedule).

DEVELOPMENT FUND DEVELOPMENT FUND

MEMBERS’ EQUITY (YEAR-END FUND BALANCE) MEMBERS EQUITY (FUND BALANCE) $10,000,000 $9,000,000 $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0

2010

2011

2012

2013

2014

• 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. • Management, the General Plan Committee and the Board guide the prioritization of the numerous projects identified for Development Fund expenditure.

| TAHOE DONNER 2020 ANNUAL REPORT

2015

2016

2017

2018

2019

2020

• In 2017, the Board of Directors approved a $1,800,000 transfer from Operating Fund surpluses to this fund. • The 2020 assessment funding level was $355 per owner or $2,298,000, an increase of 6% over 2019. • The 2021 assessment funding level was $444 per owner or $2,874,012, an increase of 25% over 2020.

CAPITAL EXPENDITURES

CAPITALFUNDS FUNDS CAPITAL EXPENDITURES YEAR EXPENDITURES BYBY YEAR

10-YEAR 10 YEAR TOTAL TOTAL = = $51.1 $51.1MILLION MILLION

$9,000,000 8.0M

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

6.1M

$6,000,000

5.4M

$5,000,000 $4,000,000

5.3M

5.3M 4.1M

4.4M 3.9M

3.4M

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

2011

2012

2013

2014

REPLACEMENT RESERVE FUND

Ten-year total spend of $51.1 million equates to an average of $5.1 million in capital fund expenditures per year. The 10-year average of depreciation expense is $2.8 million per year for a total of $28.3 million. Note that many older assets are fully depreciated and now have no annual depreciation expense. The net effect is a growth in net fixed assets. Net fixed assets grew from $26.8 million at the end of 2010 to $42.3 million at the end of 2020. Bottom line – reinvesting in the Association, the net fixed assets value grew at a 4.6% growth rate. THE BOARD HAS A FIDUCIARY

RESPONSIBILITY (BY LAW) TO DO WHAT

2015

2016

2017

DEVELOPMENT FUND

$31.2 million in replacement and major repairs of existing assets (per reserve study plan) $3.1 million per year 10-year average, maintaining existing asset components (depreciation average is $2.7 million)

$2.5 million per year first 5 years average, maintaining existing asset components $3.7 million per year second 5 years average, maintaining existing asset components The increase from 2010-2015 to the 2016-2020 average is due to the overall aging of assets, the impact of Development Fund projects on related reserve components, and the 2018 replacement of Snowbird chairlift for $1.4 million.

$18.3 million in Development Fund capital investments, including: Alder Creek Adventure Center building (2014-2015) Downhill Ski Area snowmaking investment (2015)

OWNERS HAVE THE RESPONSIBILITY

Crabtree Canyon land 640 acres (2016)

ASSOCIATION ASSETS, NOT TO DEFER THE

2020

CAPITAL INVESTMENT OVER THE 10 YEARS INCLUDES:

Solar projects at three locations (2015-2016)

TO PAY FOR THE DEPRECIATION OF

2019

NEW EQUIPMENT FUND

IS BEST FOR THE ASSOCIATION, BOTH

NOW AND FOR THE FUTURE. CURRENT

2018

Equestrian campus relocation and upgrades (2015-2016-2017) Alder Creek Adventure Center exterior storage building (2017)

BURDEN TO FUTURE OWNERS. PROPERLY

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

OWNERS’ PROPERTY VALUES.

Bermgarten Trailhead paving (2020)

MAINTAINING OUR ASSETS PROTECTS

Trout Creek Recreation Center building expansion (2019-2020)

$1.6 million in New Equipment Fund capital investments $161,000 per year average

TAHOE DONNER 2020 ANNUAL REPORT |

CAPITAL FUNDS REPLACEMENT RESERVE FUND

35% FUNDED

Replacement Reserve Funds as of December 31, 2020 ratio to Replacement Reserve Component total costs on 100% Funded Method calculation. See page 10 for by-year trends.

$4.8 MILLION | 2020 Expenditures • $2,000,000 GOLF COURSE greens replacement, tee and fairway improvements • $618,000 TRAILS replacement of Nature Loop Trail • $555,000 INFORMATION TECHNOLOGY hardware and software (Aspenware e-store) • $414,000 TROUT CREEK RECREATION CENTER remodel to completion • $108,000 TRAILS soft costs for Coyote Crossing work The Replacement Reserve Fund is 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 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 $62 million. A complete study and plan was performed in 2019 and is updated annually. The year-end fund balance increased by $301,000 or 2%. The balance fluctuates each year due to funding level from assessment and transfers, if any, as well as expenditures each year, in accordance with the 30-year reserve study.

| TAHOE DONNER 2020 ANNUAL REPORT

DEVELOPMENT FUND $426,000 | 2020 Expenditures • $50,000 SNOWPLAY permanent utility installation • $49,000 DOWNHILL SKI improvement planning costs • $39,000 TRAILS parking lot installation for Bermgarten Trailhead • $32,000 TRAILS trailhead boardwalk and trail restoration • $28,000 CROSS COUNTRY SKI snowmaking installation soft costs The Development Fund is specifically intended for and authorized in the governing documents of the Association. The Development Fund was established 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 2020 was $2,298,000 or $355 per owner. The year-end fund balance increased by $1.8 million or 27%. Savings in this fund are primarily for the anticipated known need to address the aging (50-year-old) Downhill Ski lodge.

NEW EQUIPMENT FUND $49,000 | 2020 Expenditures • $13,000 FORESTRY broadband Wi-Fi for the Forestry building • $26,000 OPERATIONS cordless electrostatic sprayers for COVID-19 safety • $15,000 DOWNHILL SKI two-way speakers for ticket windows 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 be more efficient in operations or to provide new services to the membership. The assessment contribution for 2020 was $194,000 or $30 per owner. The year-end fund balance of $354,656 increased by $146,982 or 71% compared to prior year end.

PROPERTY FUND The Property Fund is used to account for the Association’s investment in its fixed assets. Capital additions to fixed assets totaled $4.3 million (in 2019, $3.2 million). Depreciation expense for the year totaled $3.2 million (in 2019, $3.4 million). Total gross fixed asset value of $82.8 million equates to $12,790 per owner and net book value of fixed assets and construction in progress of $42.4 million equates to $6,547 per owner (an increase of $162 to 2019).

CAPITAL FUNDS SUMMARY YEAR ENDING DECEMBER 31, 2020

2020 ACTUAL VS 2020 BUDGET

2019 ACTUAL

2020 ACTUAL VS 2019 ACTUAL

2020 ACTUAL

2020 BUDGET

12,827,511

$ 12,300,000

4,985,000

4,661,000

324,000

166,496

244,000

(77,504)

219,493

(52,997)

REPLACEMENT RESERVE FUND $

Beginning Fund Balance Assessment Contribution Interest Revenue

527,511

10,400,648

2,426,863

1,000,000

(1,000,000)

(57,813)

(222,000)

164,187

43,994

(101,807)

(970,962)

(1,022,000)

51,038

(1,075,576)

104,614

(3,822,158)

(5,966,000)

2,143,842

(2,422,048)

(1,400,110)

300,563

(1,981,000)

2,281,563

2,426,863

(2,126,300)

$ 13,128,074

$ 10,319,000

$ 2,809,074

$ 12,827,511

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

300,563

NEW MACHINERY + EQUIPMENT FUND Beginning Fund Balance

207,674

120,000

87,674

113,022

94,652

Assessment Contribution

194,000

2,661

5,000

(2,339)

6,813

(4,152)

Other Revenue + Expense, Net

(604)

604

Major Maintenance + Fund Expenses

(49,442)

(80,000)

30,558

(105,557)

56,115

147,219

119,000

28,219

94,652

52,567

Interest Revenue

Expenditures for Capital Additions Change in Fund Balance $

ENDING FUND BALANCE

354,893

239,000

115,893

207,674

147,219

DEVELOPMENT FUND Beginning Fund Balance

6,787,250

6,200,000

587,250

5,304,789

1,482,461

Assessment Contribution

2,298,000

2,168,000

130,000

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

CAPITAL FUND TOTALS

130,000

(15,825)

160,459

(46,284)

(334,000)

199,500

(14,185)

(120,315)

(111,782)

111,782

(425,968)

(3,089,000)

2,663,032

(720,030)

294,062

1,851,707

(995,000)

2,846,707

1,482,462

369,245

5,205,000

$ 3,433,957

6,787,251

$ 1,851,706

8,638,957

SEE PAGE 26 FOR SCHEDULE OF SPEND BY DEPARTMENT

Major Maintenance + Fund Expenses Expenditures for Capital Additions TOTAL

114,175 (134,500)

(970,962)

(1,022,000)

51,038

(1,187,358)

216,396

(4,297,568)

(9,135,000)

4,837,432

(3,247,635)

(1,049,933)

$ (5,268,530)

$(10,157,000)

$ 4,888,470

$ (4,434,993)

$ (833,537)

The variance between Actual and Budget capital expenditures is primarily driven by the timing of projects between years and deferral due to COVID-19.

The Board has a fiduciary responsibility (by law) to do what is best for the Association both now and for the future. Current owners have the responsibility to pay for the depreciation of Association assets, not defer the burden to future owners. Properly maintaining our assets protects owners’ property values. TAHOE DONNER 2020 ANNUAL REPORT |

INDEPENDENT AUDITORS’ REPORT TO THE BOARD OF DIRECTORS TAHOE DONNER ASSOCIATION REPORT ON THE FINANCIAL STATEMENTS We have audited the accompanying financial statements of Tahoe Donner Association, which comprise the balance sheet as of December 31, 2020, and the related statements of revenue and expenses – all funds, changes in fund balances and cash flows for the year then ended, and the related notes to the financial statements. MANAGEMENT’S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal controls relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. AUDITORS’ RESPONSIBILITY Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal controls relevant to the entity’s preparation and fair presentation of the financial statements 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 the entity’s internal controls. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. OPINION 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, 2020, and the results of its operations and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America.

| TAHOE DONNER 2020 ANNUAL REPORT

DISCLAIMER OF OPINION ON REQUIRED SUPPLEMENTARY INFORMATION Accounting principles generally accepted in the United States of America require that the information on future major repairs and replacements on page 27 be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by generally accepted accounting principles, which considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. OTHER INFORMATION The information included on pages 24-26 is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information has been subjected to the audit procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole. COMPARATIVE INFORMATION Information for the year ended December 31, 2019 is presented for comparative purposes only and was extracted from the financial statements presented for that year, on which we expressed an unmodified opinion in our report dated April 3, 2020. As described in Note 2, the Association changed the composition of its financial statements and allocations of certain departmental expenses in 2020, and the 2019 financial statements have been restated to conform to the composition and allocations utilized in 2020.

McCLINTOCK ACCOUNTANCY CORPORATION TAHOE CITY, CALIFORNIA APRIL 13, 2021

TAHOE DONNER ASSOCIATION BALANCE SHEET

FOR THE YEAR ENDED DECEMBER 31, 2020 (WITH COMPARATIVE TOTALS FOR 2019) OPERATING FUND

REPLACEMENT RESERVE FUND

NEW DEVELOPMENT EQUIPMENT FUND FUND

PROPERTY FUND

TOTAL 2020

TOTAL 2019

ASSETS Cash and cash equivalents, unrestricted (Note 4)

5,491,032

-0-

-0- $

5,491,032 $ 1,541,942

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

238,830

222,446

262,721

1,781,283

-0-

2,505,280

449,175

1,632,827

-0-

1,632,827

4,504,145

-0-

15,112,395

-0-

6,778,817

-0-

21,891,212

21,819,252

7,362,689

15,334,841

262,721

8,560,100

-0-

31,520,351

28,314,514

245,507

-0-

245,507

266,025

13,974

-0-

11,111

-0-

25,104

337,009

321,967

-0-

321,967

319,342

Prepaid expenses and other assets

1,274,413

-0-

1,274,413

860,057

Due from (to) other funds

(736,898)

(353,286)

91,976

998,208

-0-

42,380,585

41,331,406

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

Assessments and other member receivables, less allowance for doubtful accounts of $75,213 in 2020 and $88,679 in 2019 Other receivables Inventory

Property and equipment, net (Note 5)

TOTAL ASSETS

$ 8,481,652 $ 14,981,574

354,697 $ 9,569,419 $ 42,380,585 $ 75,767,927 $ 71,428,353

LIABILITIES AND FUND BALANCES Liabilities Accounts payable

39,214 $

169,696

-0-

10,461

-0- $

219,371 $

671,635

Accrued liabilities

1,074,079

34,876

1,005

-0-

1,110,001

1,584,663

Deferred revenue

4,121,222

1,648,928

-0-

914,013

-0-

6,684,163

5,556,495

308,151

-0-

308,151

219,266

TOTAL LIABILITIES

5,542,666

1,853,500

925,479

-0-

8,321,686

8,032,059

Fund Balances - Exhibit B

2,938,986

13,128,074

354,656

8,643,940

42,380,585

67,446,241

63,396,294

Deposits from members

TOTAL LIABILITIES AND FUND BALANCES

$ 8,481,652 $ 14,981,574

354,697 $ 9,569,419 $ 42,380,585 $ 75,767,927 $ 71,428,353

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS. TAHOE DONNER 2020 ANNUAL REPORT |

TAHOE DONNER ASSOCIATION

STATEMENTS OF REVENUE AND EXPENSES – ALL FUNDS

FOR THE YEAR ENDED DECEMBER 31, 2020 (WITH COMPARATIVE TOTALS FOR 2019) OPERATING FUND

REVENUE

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

5,889,745 3,461,292 153,021 1,305,051 1,265,594 668,271 464,555 86,618 349,064 -0352,122 1,534 78,689 -0119,887 172,179 1,127 240,013 325,269 173,372 62,859 132,908 43,510 15,346,680

REPLACEMENT RESERVE FUND

4,985,000 -0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0166,496 -0-05,151,496

NEW EQUIPMENT FUND

194,000 -0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-02,661 -0-0196,661

DEVELOPMENT FUND

2,298,000 -0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0119,829 -0-02,417,829

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 2020

13,366,745 3,461,292 153,021 1,305,051 1,265,594 668,271 464,555 86,618 349,064 -0352,122 1,534 78,689 -0119,887 172,179 1,127 240,013 325,269 173,372 351,845 132,908 43,510 23,112,666

TOTAL 2019

12,719,445 4,770,549 244,046 2,742,223 1,381,116 1,310,493 680,754 706,522 490,426 344,563 308,060 247,719 238,636 201,021 95,813 134,638 2,832 227,063 174,557 94,975 500,921 130,614 54,762 27,801,748

OPERATING EXPENSES

Downhill ski (cost of sales of $102,458 in 2020 and $196,821 in 2019) Snowplay (cost of sales of $198 in 2020 and $1,911 in 2019) The Lodge and Summer F&B (cost of sales of $431,666 in 2020 and $784,377 in 2019) Cross country center (cost of sales of $70,892 in 2020 and $85,840 in 2019) Trout Creek recreation center and aquatics (cost of sales of $4,975 in 2020 and $20,016 in 2019) Marina (cost of sales of $13,138 in 2020 and $51,485 in 2019) Golf course (cost of sales of $411 in 2020 and $49,814 in 2019) Alder Creek Cafe (cost of sales of $116,757 in 2020 and $164,450 in 2019) Pizza on the Hill (cost of sales of $-0- in 2020 and $99,622 in 2019) Tennis (cost of sales of $28,553 in 2020 and $35,643 in 2019) Day Camps Equestrian (cost of sales of $-0- in 2020 and $7,732 in 2019) Recreation (cost of sales of $24 in 2020 and $1,469 in 2019) Campground Bikeworks (cost of sales of $57,360 in 2020 and $55,263 in 2019) Trails Communications Architectural standards Forestry Homeowners’ association operating expenses and G&A TOTAL OPERATING EXPENSES

2,520,721 101,649

8,953 -0-

-0-0-

2,529,674 101,649

3,122,294 131,806

1,764,219

17,018

-0-

1,781,237

2,866,067

785,486

36,295

-0-

821,781

1,031,741

810,428 253,239 616,147

63,605 4,753 4,042

-0-0-0-

874,033 257,992 620,189

1,221,153 439,036 1,277,705

476,929

-0-

476,929

558,925

18,570 256,244 20,905 189,975 38,143 85,013 141,325 105,496 602,564 340,395 1,615,724 3,891,984 14,635,156

-0-0-0-0-0-0-038,824 -0-0122,960 760,512 1,056,962

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

-0-0-0-0-0-0-0-0-0-0-0124,500 124,500

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

18,570 256,244 20,905 189,975 38,143 85,013 141,325 144,320 602,564 340,395 1,738,684 4,776,996 15,816,618

389,831 246,409 236,927 330,228 201,961 88,241 127,588 153,406 638,207 389,199 1,498,988 5,797,787 20,747,499

(462) -015,452 14,650,146

(44,383) -016,196 1,028,775

-0-0237 237

-0-010,672 135,172

29,024 3,219,365 -03,248,389

(15,821) 3,219,365 42,557 19,062,719

(35,606) 3,440,155 68,610 24,220,658

2,282,657

$ (3,248,389)

(425,968)

4,297,568

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

PROPERTY FUND ADDITIONS, NET (SCHEDULE 2)

-0-

FUND BALANCES, BEGINNING OF YEAR FUND BALANCES, END OF YEAR

696,534

4,122,721

(3,822,158)

2,242,452

12,827,511

2,938,986

$ 13,128,074

| TAHOE DONNER 2020 ANNUAL REPORT

(49,442) 207,674 $

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

196,424

354,656

4,409,947 -0-

3,581,090 -0-

6,787,251

41,331,406

63,396,294

59,815,204

8,643,940

$ 42,380,585

$ 67,446,241

$ 63,396,294

TAHOE DONNER ASSOCIATION STATEMENTS OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2020 (WITH COMPARATIVE TOTALS FOR 2019) OPERATING FUND

CASH FLOWS FROM OPERATING ACTIVITIES

Operating Revenue Over Expenses $ 696,534 Replacement Revenue Over Expenses -0Non-Operating Funds Revenue Over (Under) Expenses -0Revenue Over (Under) Expenses 696,534 Transfers between funds -0Adjustments to Reconcile Operating/Replacement Revenue Over (Under) Expenses to Net Cash Provided (Used) by Operating Activities: Bad debt expense 67,853 Depreciation expense -0(Gain)/Loss on disposal of assets (462) Changes in: Assessments receivable (47,335) Other receivables 201,117 Inventory (2,625) Prepaid expenses and other assets (414,355) Due to/from other funds 605,676 Accounts payable (316,191) Accrued liabilities (491,616) Deferred revenue 675,569 Deposits 88,885 NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 1,063,050

REPLACEMENT RESERVE FUND

-04,122,721 -04,122,721 -0-

NEW EQUIPMENT FUND

-0-0196,424 196,424 -0-

DEVELOPMENT FUND

-0-02,282,657 2,282,657 -0-

PROPERTY FUND

-0-0(3,248,389) (3,248,389) -0-

TOTAL 2020

696,534 4,122,721 (769,308) 4,049,947 -0-

TOTAL 2019

800,559 3,848,912 (1,068,381) 3,581,090 -0-

9,000 -0(44,383)

-0-0-0-

4,500 -0-0-

-03,219,365 29,024

81,353 3,219,365 (15,821)

24,642 3,440,155 (35,606)

(9,000) 84,504 -0-0462,924 (120,454) 124,515 246,054 -04,875,881

-0871 -0-0(84,996) -0(127) (59,197) -052,975

(4,500) 25,413 -0-0(983,604) (15,617) (2,943) 265,243 -01,571,149

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

(60,835) 311,905 (2,625) (414,355) -0(452,262) (370,171) 1,127,669 88,885 7,563,055

(29,088) (97,808) (4,419) (111,148) -057,643 58,945 515,072 (37,385) 7,362,093

-0462 (4,497,871) 7,369,189 2,871,780

(3,926,653) 44,383 (22,945,302) 22,014,467 (4,813,105)

(49,442) -0-0246,478 197,036

(425,968) -0(7,989,212) 8,601,609 186,429

-0-0-0-0-0-

(4,402,063) 44,845 (35,432,385) 38,231,743 (1,557,860)

(3,121,146) 66,533 (52,103,064) 47,673,388 (7,484,289)

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 3,934,830 CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 1,795,032 CASH AND CASH EQUIVALENTS, END OF YEAR $ 5,729,862

62,776 159,670 222,446

250,011 12,710 262,721

1,757,578 23,705 $ 1,781,283

-0-0-0-

6,005,195 1,991,117 7,996,312

(122,196) 2,113,313 1,991,117

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

ANALYSIS OF CASH AND CASH EQUIVALENTS Cash and cash equivalents, unrestricted Cash and cash equivalents, designated and restricted

SUPPLEMENTAL DISCLOSURE Income taxes paid

NON-CASH INVESTMENT ACTIVITIES Acquisition of equipment financed by trade payables

$ 5,491,032 238,830 $ 5,729,862

-0222,446 222,446

-0262,721 262,721

55,000

-0-

21,997

-0-

-01,781,283 $ 1,781,283

-0-0-0-

5,491,032 2,505,280 $ 7,996,312

-0-

$ $

1,541,942 449,175 1,991,117

55,000

53,970

21,997

126,490

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS. TAHOE DONNER 2020 ANNUAL REPORT |

NOTES TO FINANCIAL STATEMENTS 1

OPERATIONS

Tahoe Donner Association (Association) is a California nonprofit mutual benefit corporation. The Association’s members own the 6,473 membership properties within the Tahoe Donner subdivision in Truckee, California. The Association was organized to provide management services and maintenance of certain common areas owned by the Association. A significant portion of revenue is derived from the assessment of member dues. The Association operates and maintains facilities, which include a golf course and pro shop, restaurant, downhill ski area, clubhouse, Nordic ski area, beach and marina area, equestrian center, campground, tennis facilities, recreation complex, pools and parks. Revenues are derived from member and non-member usage of these facilities. The Association’s Board of Directors is comprised of five members elected to serve three-year terms by a vote of the members. The Board of Directors governs in accordance with the Association’s bylaws and declaration of covenants and restrictions. The Board of Directors establishes members’ dues and user fees, and has the ability to enter into long-term contracts. Along with other actions, closing an Association amenity (as defined by the governing documents) requires a vote of the members.

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.

ASSESSMENT REVENUE – Association members are subject to annual assessments to provide funds for the Association’s operating expenses, major repairs and replacements, development and purchase of new equipment. Accounts receivable at the balance sheet date primarily represents amounts due from unit owners. The Association’s collection policy includes, among other things, assessing a late charge and interest, filing a lien, and assessing a lien fee on payments not received within the allowable time periods. In certain instances, foreclosure may be necessary. An allowance for doubtful accounts is created when and account’s collectability is uncertain. Accounts are written off when the Association’s management determines that an account is uncollectible due to an event such as bankruptcy or foreclosure proceedings. REVENUE RECOGNITION – The Association’s accounting policies with regards to revenue from contracts with customers are discussion in Note 3, Revenues. CASH consists of cash on hand, demand deposits at banks and money market funds. The Association minimizes credit risk associated with cash by periodically evaluating the credit quality of its primary financial institution. The balance at times may exceed federally insured limits. As of December 31, 2020, and 2019, cash balances exceeded federally insured limits by approximately $5,137,000 and $864,000, 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.

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.

PROPERTY AND EQUIPMENT of the Association includes certain facilities and land contributed by Dart in prior years. These assets are reflected in the accounts at the developers’ cost basis. Purchases are stated at cost. The Association capitalizes all expenditures for property and equipment in excess of $2,000. Depreciation is computed using the straight-line method over estimated useful lives of individual assets ranging from 3 to 60 years. These assets are recorded directly in the property fund.

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

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.

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

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.

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

| TAHOE DONNER 2020 ANNUAL REPORT

ASSESSMENTS PAID IN ADVANCE AND DEFERRED REVENUE primarily represents funds received for assessments, amenity and

NOTES TO FINANCIAL STATEMENTS newsletter fees received in the current fiscal year, which apply to the subsequent fiscal year. DEPOSITS FROM MEMBERS held by the Association are primarily security deposits from members for the construction of residential real property. The deposits are used to ensure that construction is completed in accordance with the guidelines established by the Association’s Architectural Standards Committee. The funds are deposited in a separate trust account and are refundable upon satisfactory completion of construction. ADVERTISING COSTS are expensed as incurred. For the year ended December 31, 2020 and 2019 advertising costs total $50,594 and $73,449, 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 2016. 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 2019 financial statements to conform to the classifications used in 2020. The reclassifications had no impact on the financial position or results of operations for 2019. RESTATEMENT – In 2020, the Association changed the composition of its financial statements to eliminate allocations of certain departmental expenses (overhead) to the other departments they both directly and indirectly serve. Management concluded that the financial statements provided more reliable and relevant information without the allocations. The 2019 financial statements as presented for comparative purposes only have been restated to conform to the composition and allocations utilized in 2020. The restatements had no impact on the total financial position or results of operations for 2019.

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 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2019-04, Codification Improvements to Topic 825, Financial Instruments. The Association adopted the provisions of this new standard during the year ended December 31, 2020. The adoption had no impact on the balance sheets or statements of revenue and expenses and changes in fund balance. The adoption removed the requirement to disclose fair value on held-to-maturity debt securities. As a result of the new accounting pronouncement, Note 4 to the financial statements was amended in 2020 and 2019 and no longer includes information on fair value. COVID-19 – The COVID-19 outbreak in the United States has caused varying degrees of disruption across substantially all businesses. It is at least possible that the Association may experience adverse effects from the outbreak, including the inability to achieve consistent operational service levels historically available to members. As a result of the pandemic, the Association temporarily closed its amenities, causing a reduction in revenues and related expenses in the last three quarters of 2020. Benefits were maintained for furloughed employees in all departments. Issues may arise from disruptions in normal supply chains, slower collection of member assessments, reduction in user fees, or other factors. The Association has considered the impact of COVID-19 on the assumptions and estimates used when preparing these financial statements including the potential impairment of long-lived assets, inventory valuation and future compliance with debt covenants, noting no adjustments to be reflected in the accompanying financial statements at this time. If the economic conditions caused by COVID- 19 worsen beyond what is currently estimated by management, such future changes may have an adverse impact on the Association’s result of operations, financial position, and liquidity, therefore no provisions have been reflected in the accompanying financial statements.

TAHOE DONNER 2020 ANNUAL REPORT |

NOTES TO FINANCIAL STATEMENTS 3

REVENUE FROM CONTRACTS WITH CUSTOMERS

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

| TAHOE DONNER 2020 ANNUAL REPORT

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 and food and beverage sales, architectural fees and forestry grants revenues. Revenue is recognized over time as performance obligations are satisfied as control of the (e.g. completions of lessons or camps) is transferred to the customer, except for retail sales, equipment rentals and food and beverage sales which are recognized at a point in time when performance obligations are satisfied by transferring control of the underlying goods to the customer. ARRANGEMENTS WITH MULTIPLE PERFORMANCE OBLIGATIONS Some of the Association’s contracts with customers include multiple performance obligations, primarily related to bundled services such as multiple events, camps, class and lesson packages. For such contracts, revenue is allocated to each distinct and separate performance obligation based on its relative standalone selling price. The standalone selling prices are generally based on observable prices charged to customers or estimated based on historical experience and information. CONTRACT BALANCES Contract liabilities are recorded primarily as deferred revenues when payments are received or due in advance of the Association’s performance, including amounts which may be refundable. The deferred revenue balance is primarily related to accounts receivable or cash payments recorded in advance of satisfying the Association’s performance obligations related to advance purchase products consisting primarily of recreation passes, ski and golf passes, amenity related lessons and programs. Deferred revenue balances related to contracts was approximately $2,071,000 and $1,783,000 as of December 31, 2020 and 2019, respectively. For the years ended December 31, 2020 and 2019, the Association recognized approximately $1,592,000 and $1,315,000 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 $1,900 and $53,000 as of December 31, 2020 and 2019, 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,

NOTES TO FINANCIAL STATEMENTS 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, 2020,

and 2019, $6,502 and $11,283 of costs to obtain contracts with customers were recorded within prepaid expenses and other current assets, respectively. Utilizing the practical expedient provided for under Topic 606, the Association has elected to expense credit card fees related to non pass products and services as incurred, as the amortization period is generally one year or less for the time between customer purchase and utilization. These fees are recorded within departmental expenses on the Association’s Statement of Revenue and Expenses and Changes in Fund Balances.

CASH AND INVESTMENTS

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

Replacement Reserve Fund - designated Development Fund - designated New Equipment Fund - designated Operating Fund - undesignated and unrestricted Operating Fund – Trust – restricted 457 (b) Operating Fund - Architectural standards deposits - restricted (Note 7) TOTAL

2020

2019

$ 15,334,841

$ 14,341,230

8,560,100

7,414,919

262,721

259,188

7,123,859

6,046,087

19,500

33,813

219,330

219,277

$ 31,520,351

$ 28,314,514

Board designated funds in the replacement reserve fund cannot be expended 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. Association investments consist of certificates of deposit, municipal and corporate securities, and governmental securities, and amounted to $23,524,039 and $26,323,397 at December 31, 2020 and 2019, respectively. 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 2020 ANNUAL REPORT |

NOTES TO FINANCIAL STATEMENTS 2020 AMORTIZED COST/NET CARRYING VALUE

2019 AMORTIZED COST/NET CARRYING VALUE

Held to maturity: Certificates of Deposit

382,988

1,129,197

Corporate Bonds

2,219,307

3,220,976

Municipal Securities

2,176,130

2,262,597

18,745,614

19,710,627

$ 23,524,039

$ 26,323,397

1-5 YEARS

TOTAL

US Treasury Securities TOTAL HELD TO MATURITY

The maturities of the held to maturity securities at December 31, 2020 and 2019 are as follows: 2020 INVESTMENT

WITHIN 1 YEAR

Certificates of Deposit

382,988

-0-

382,988

Corporate Bonds

400,949

1,818,358

2,219,307

Municipal Bonds

465,375

1,710,755

2,176,130

18,745,614

-0-

18,745,614

3,529,118

$ 23,524,039

1-5 YEARS

TOTAL

U.S. Treasury

$ 19,994,926

TOTAL 2019 INVESTMENT

WITHIN 1 YEAR

Certificates of Deposit

379,197

Corporate Bonds U.S. Treasury

PROPERTY AND EQUIPMENT

Property and equipment consist of the following:

Buildings

Fixtures and facility improvements Equipment

Land and land improvements

2020 2019 $ 33,368,213 $ 33,141,996

1,129,197 3,220,976

320,200

1,942,397

2,262,597

19,215,128

495,499

19,710,627

5,354,107

$ 26,323,397

INCOME TAXES

The provision for income taxes for the year ended December 31, 2020 and 2019 is as follows: State

2020 2019 $ 43,403

$ 55,935

18,633,568

19,970,825

19,642,739

Federal

(846)

12,675

9,308,808

9,269,730

997,281

992,033

TOTAL

$ 42,557

$ 68,610

TOTAL

82,791,477 81,680,066

Less accumulated depreciation

(44,460,617) 38,330,860

(41,424,804) 40,255,262

4,049,725

1,076,144

Construction in progress

19,146,350

Furnishings

TOTAL

750,000 2,166,211

$ 20,969,290

TOTAL

1,054,765

Municipal Bonds

$ 42,380,585 $ 41,331,406

| TAHOE DONNER 2020 ANNUAL REPORT

The 2020 federal tax benefit is due to over accruing for federal tax in a prior year.

NOTES TO FINANCIAL STATEMENTS 7

REPLACEMENT RESERVE FUND

The Association’s policy is to maintain replacement funding levels sufficient to pay for capital replacements, refurbishments and repairs. Fund for replacement of common area property and equipment is accounted for through a replacement reserve fund. The funds are designated for major repairs and replacement. When major repairs or replacement occur, the expenditures are charged against the fund balance or, if certain conditions are met, a transfer is made for property and equipment to the property fund and the expenditures are capitalized. Replacement funding levels, as determined by a study updated in 2020, 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.

INTERFUND ACTIVITY

10 OPERATING LEASE OBLIGATIONS The Association has non-cancelable operating leases for copiers and computer equipment. Rental expense under all operating leases was $22,185 and $40,190 for 2020 and 2019, respectively. Future minimum lease payments under these leases are as follows: YEAR ENDING DECEMBER 31:

2021

$ 5,752

5,752

2022

2023

1,917

TOTAL

$ 13,421

11 COMMITMENT During 2020, the Association entered into a contract for a consultant for The Lodge at Downhill Ski Community Engagement and Business Plan for $57,170. As of December 31, 2020, $44,670 remains to be spent on the project.

12 SUBSEQUENT EVENTS Subsequent events have been evaluated through April 13, 2021, the date the financial statements were issued.

The Association maintains five funds. The reserve fund 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. During 2019, the Board of Directors approved a $1,000,000 fund balance transfer from the operating fund to the replacement reserve fund.

RETIREMENT PLANS

The Association maintains a salary savings plan for all eligible employees. The Association matches 50% of the first 6% of the participant’s contribution. Matching contributions are 20% vested after the third year of service and vest at the rate of 20% per year thereafter. Matching contributions expense was $70,108 and $105,493 for December 31, 2020 and 2019, respectively. 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 $-0- and $57,009 for the years ended December 31, 2020 and 2019, respectively. TAHOE DONNER 2020 ANNUAL REPORT |

TAHOE DONNER ASSOCIATION

SCHEDULE OF REVENUE + EXPENSES BY NATURAL CLASSIFICATION FOR THE YEAR ENDED DECEMBER 31, 2020 (WITH COMPARATIVE TOTALS FOR 2019)

OPERATIONS AMENITIES

TOTAL OPERATING FUND

HOMEOWNERS’ ASSOCIATION

REVENUE Assessments

-0-

5,889,745

Access and use fees

4,004,090

-0-

4,004,090

Retail sales

2,301,729

-0-

2,301,729

Lessons and rental revenue

2,042,232

14,335

2,056,567

Other revenues

131,248

900,442

1,031,690

Interest income

-0-

62,859

8,479,299

6,867,381

15,346,680

3,915,882

3,214,565

7,130,447

Cost of good sold

826,102

-0-

826,102

Payroll taxes and employee benefits

977,651

856,941

1,834,592

Supplies and maintenance

740,474

1,067,044

1,807,518

Utilities

674,895

199,131

874,026

Other employee expenses

186,698

202,538

389,236

Insurance

445,000

296,020

741,020

Total Revenue

OPERATING EXPENSES Salaries and wages

Income tax

-0-

15,452

421,624

807,591

1,229,215

-0-

(197,000)

8,188,326

6,462,282

14,650,608

(Gain) Loss on disposal of assets

-0-

(462)

Depreciation

-0-

Fund expenses

-0-

8,188,326

6,461,820

14,650,146

Other expenses Overhead allocation Total Operating Expenses

FUND EXPENSES

Total Expenses

REVENUE OVER (UNDER) EXPENSES

405,561

696,534

PROPERTY FUND ADDITIONS, NET

-0-

FUND BALANCES, BEGINNING OF YEAR

-0-

2,242,452

405,561

$ 2,938,986

FUND BALANCES, END OF YEAR

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

$ 290,973

| TAHOE DONNER 2020 ANNUAL REPORT

$ 290,973

CAPITAL

REPLACEMENT RESERVE FUND $

4,985,000

NEW EQUIPMENT FUND $

194,000

DEVELOPMENT FUND $

2,298,000

TOTALS

PROPERTY FUND $

-0-

TOTAL 2020

13,366,745

TOTAL 2019

12,719,445

-0-

4,004,090

5,724,281

-0-

2,301,729

4,772,930

-0-

2,056,567

2,954,280

-0-

1,031,690

1,129,891

166,496

2,661

119,829

-0-

351,845

500,921

5,151,496

196,661

2,417,829

-0-

23,112,666

27,801,748

-0-

7,130,447

10,279,266

-0-

826,102

1,554,443

-0-

1,834,592

2,450,699

-0-

1,807,518

1,799,269

-0-

874,026

933,786

-0-

389,236

432,981

-0-

741,020

610,514

16,196

237

10,672

-0-

42,557

68,610

9,000

-0-

4,500

-0-

1,242,715

1,686,820

77,000

-0-

120,000

-0-

102,196

237

135,172

-0-

14,888,213

19,816,388

(44,383)

-0-

29,024

(15,821)

(35,606)

-0-

3,219,365

3,440,155

970,962

-0-

970,962

999,721

1,028,775

237

135,172

3,248,389

19,062,719

24,220,658

196,424

$ 2,282,657

$ (3,248,389)

$ 4,049,947

$ 3,581,090

(3,822,158)

(49,442)

(425,968)

4,297,568

-0-

12,827,511

207,674

6,787,251

41,331,406

63,396,294

59,815,204

354,656

$ 8,643,940

$ 42,380,585

$ 67,446,241

$ 63,396,294

$ 4,122,721

$ 13,128,074

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS. TAHOE DONNER 2020 ANNUAL REPORT |

TAHOE DONNER ASSOCIATION

SCHEDULE OF CAPITAL FUNDS’ EXPENDITURES BY DEPARTMENT FOR THE YEAR ENDED DECEMBER 31, 2020 REPLACEMENT RESERVE FUND

NEW EQUIPMENT FUND

DEVELOPMENT FUND

CAPITAL FUNDS TOTAL

CAPITAL MAJOR ADDITIONS MAINTENANCE

PRIVATE AMENITIES $ 432,216

$ 59,422

$ 5,248

$ -0-

$ 18,016

$ -0-

$ 455,480

$ 59,422

Beach Club Marina

10,084

4,753

-0-

10,084

4,753

Tennis Center

16,990

-0-

16,990

-0-

Northwoods Pool / Aquatics

12,643

4,183

-0-

12,643

4,183

-0-

471,933

68,358

5,248

-0-

18,016

-0-

495,197

68,358

2,047,207

4,042

-0-

2,047,207

4,042

131,102

8,953

9,880

-0-

55,088

-0-

196,070

8,953

Trout Creek Recreation Center

Camps + Recreation Programs TOTAL PRIVATE AMENITIES

PUBLIC AMENITIES Golf Downhill Ski Cross Country Ski

24,056

36,295

8,175

-0-

27,564

-0-

59,795

36,295

Campground

2,470

-0-

2,470

-0-

Equestrian

2,957

-0-

2,957

-0-

833,827

38,824

-0-

69,252

-0-

903,079

38,824

Trails Bikeworks

20,632

-0-

20,632

-0-

9,261

17,018

2,371

-0-

5,116

-0-

16,748

17,018

The Lodge, Summer Lunch/Golf F&B

-0-

Pizza on the Hill

-0-

Alder Creek Cafe

-0-

Snowplay

-0-

53,929

-0-

53,929

-0-

3,071,512

105,132

20,426

-0-

210,949

-0-

3,302,887

105,132

3,543,445

173,490

25,674

-0-

228,965

-0-

3,798,084

173,490

The Lodge

TOTAL PUBLIC AMENITIES

TOTAL AMENITIES

HOMEOWNERS ASSOCIATION + GENERAL AND ADMINISTRATIVE General Homeowners Association

14,564

47,304

-0-

14,564

47,304

Marketing + Communications

-0-

Facility Administration

-0-

138,000

-0-

197,003

-0-

197,003

138,000

7,653

30,979

1,818

-0-

9,471

30,979

104,397

450,266

21,950

-0-

126,347

450,266

Accounting

-0-

Human Resources

-0-

Architectural Standards Office

-0-

Member Services

-0-

137,757

122,960

-0-

137,757

122,960

14,342

7,963

-0-

14,342

7,963

278,713

797,472

23,768

-0-

197,003

-0-

499,484

797,472

$3,822,158 $ 970,962

$ 49,442

$ -0-

$425,968

$ -0-

$4,297,568

$970,962

Administration Information Technology

Forestry Maintenance TOTAL HOA AND G+A

TOTAL

Replacement Reserve Fund - General HOA - Major Maintenance also includes overhead ($77,000) and bad debt expense ($9,000) cost allocations. Development Fund - General HOA - Major Maintenance also includes overhead ($120,000) and bad debt expense ($4,500) cost allocations.

| TAHOE DONNER 2020 ANNUAL REPORT

REQUIRED SUPPLEMENTARY INFORMATION ON FUTURE MAJOR REPAIRS AND REPLACEMENTS DECEMBER 31, 2020 (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 updated a study in 2020 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% inflation factor, 2% 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, 2020 is $13,128,074. The 2021 budget includes $5,184,873 of dues allocated to the replacement fund. The Association has not included the replacement of building structures as a component of the replacement study. These structures generally have an original useful life greater than 30 years. The Association is accumulating funds in the Development fund for specific building structure replacements, and not currently accumulating funds over time for all building structure replacements. 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

0-49

$ 2,352,553

Alder Creek Cafe

1-34

164,989

Bikeworks

0-2

73,618

CURRENT REPLACEMENT COSTS

0-40

638,582

-0-

215,609

Chalet House

0-24

349,619

Cross Country Ski Center

0-38

3,919,985

Equestrian Center

0-28

978,839

Food Trailer

3-10

65,500

Forestry

0-38

2,218,415

General Maintenance

0-14

611,451

Golf Complex

0-17

988,539

Golf Course

0-49

11,290,260

Information Technology

0-39

2,283,374

Maintenance

0-52

2,991,850

Marina

0-38

1,363,521

Northwoods Pool Building

0-22

435,775

Northwoods Clubhouse

0-38

3,993,543

Pizza on the Hill

1-25

493,118

Recreation

0-23

593,780

Downhill Ski Resort Mountain Operations

0-38

5,270,969

Campground Capital Projects

RESERVE COMPONENT

RANGE OF SERVICE LIFE REMAINING (YEARS)

CURRENT REPLACEMENT COSTS

Downhill Ski Resort Mountain Operations - Lift Maintenance

0-38

4,053,129

Downhill Ski Resort Mountain Operations Rental + Retail

0-19

1,090,310

Downhill Ski Resort Mountain Operations Snowmaking

0-20

1,060,213

Downhill Ski Resort Mountain Operations Top Shop

0-16

289,049

Downhill Ski Resort Mountain Operations Winter Food + Beverage

2-14

453,275

Snowplay

1-7

145,230

Tennis Complex

0-22

2,019,210

The Lodge Restaurant & Pub

0-53

3,669,979

Trails

0-36

3,227,759

Trout Creek Recreation Center Building

0-40

3,538,759

Trout Creek Recreation Center Pool and Spa

0-1

1,434,737

TOTAL

$ 62,455,303

(See Independent Auditor’s Report)

TAHOE DONNER 2020 ANNUAL REPORT |

CAGR = COMPOUND ANNUAL GROWTH RATE

ANNUAL BUDGET – SOURCE OF FUNDS DOLLARS IN THOUSANDS $30,000

$25,000

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

10-YEAR CAGR 2010-2020 2011-2021 6.7% 7.0% 2.7% 3.7% 4.7% 5.4% 5.3% 4.3% 5.0% 4.8% $19,976

$20,000 $16,844

$17,368

$15,000 50% 8,433

50% 8,760

$18,149

48% 9,620

48% 8,925

51% 9,250

$5,000

26% 4,498

27% 5,450

27% 5,119

25% 4,498

$27, 789

$24,759

$20,860

44% 9,210

$21,497

43% 9,200

47% 11,000

50% 12,460

31% 6,433

32% 6,951

27% 6,311

25% 6,085

25% 5,346

26% 5,988

25% 6,214

2016

2017

2018

23% 3,914

24% 4,110

24% 4,401

25% 4,621

25% 4,906

25% 5,217

2010

2011

2012

2013

2014

2015

ANNUAL ASSESSMENT, CAPITAL

$27,507

$23,299

$18,665

$10,000 27% 4,497

$26,934

ANNUAL ASSESSMENT, OPERATING

ALL MEMBERS PAY

53% 14,215

51% 14,140

21% 5,696

21% 5,890

26% 7,023

2019

48% 13,283

23% 6,447

27% 7,477

29% 8,059

2020

2021

OPERATING REVENUES USERS PAY

(MEMBERS/GUESTS/PUBLIC)

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

$25,000

CAPITAL FUNDING AMENITIES OPERATING COSTS HOA SERVICES COSTS OUTFLOW USES TOTAL

$26,934

$16,844

31% 5,193

$17,368

31% 5,416

$10,000 46% 7,737

45% 7,842

$18,149

30% 5,445

46% 8,303

$20,860

$18,665

30% 5,663

45% 8,381

29% 5,823

46% 9,247

29% 6,125

46% 9,518

$21,497

30% 6,347

46% 9,804

27% 6,352

23% 3,914

24% 4,110

24% 4,401

25% 4,621

25% 4,906

25% 5,217

2010

2011

2012

2013

2014

2015

CAPITAL FUNDING

| TAHOE DONNER 2020 ANNUAL REPORT

$27,789

47% 10,959

AMENITIES OPERATING COSTS

47% 11,705

25% 5,346

26% 5,988

25% 6,214

2016

2017

2018

BEFORE OVERHEAD FOR COMPARABILITY FOR ALL YEARS

27% 7,350

29% 7,905

47% 12,561

44% 12,125

29% 8,116

28% 6,840

$5,000

$27,507

$24,759 $23,299

$19,976

$20,000

$15,000

10-YEAR CAGR 2010-2020 2011-2021 6.7% 7.0% 4.6% 4.0% 4.3% 4.1% 5.0% 4.8%

26% 7,023

2019

HOA SERVICES COSTS

42% 11,614

27% 7,477

29% 8,059

2020

2021

YOUR LUTRON AND SAVANT HOME AUTOMATION EXPERT

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www.verdienergyinc.com | 775.391.3111 TAHOE DONNER NEWS |

THE REPORT

ROADMAP TO THE ELECTION MOST ELECTION COMMITTEE-SPONSORED EVENTS WILL BE HELD ONLINE. VISIT TAHOEDONNER.COM/BOARDELECTIONS FOR MEETING AND LOGIN INFORMATION. There is one position open for the 2021 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 policy-making. Remember, your vote is your voice!

MAY 1

M AY 2 6

MAY 2 1

MAY 5

SUBMIT YOUR QUESTIONS FOR CANDIDATES TO ADDRESS AT THE CANDIDATES NIGHT VIRTUAL FORUM Last day to update your member contact information at tahoedonner.com/contact-update. Your ballot will be mailed to the address where you receive your Annual Assessment.

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

What questions do you have for your candidates at Candidates Night? Email them to electionscommittee@tahoedonner.com by May 21 at 5PM, and they will be considered for the Candidates Night Virtual Forum.

Election ballots are mailed to all eligible members – one ballot per property. Please work with your co-owners to cast your vote. Ballots are sent to the same address that the Annual Assessment goes to. Visit tahoedonner.com/boardelections to find FAQs on receiving, completing and returning ballots. Due to the current COVID-19 pandemic, members are strongly encouraged to mail in their ballots.

Kelly-Moore Truckee 40153 Truckee Airport Rd., Bldg. 1 Truckee, CA 96161 1-530-550-7201 Kellymoore.com

BASSETT FLOORING is family owned and operated and has

10800 Pioneer Trail, Unit 3, Truckee

served the Truckee-Lake Tahoe area

53 0 5 82.742 8

since 1979. We carry high-quality

We have Tahoe/Donner paints & stains. **Discount code – 224-TA7202 “For all of your paint and stain needs, we’re here to help you!”

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

bassettflooring.com

JUNE 27 J UNE 2 5 JUN E 5 MAY 2 9

ELECTION BALLOT MEETING + REGULAR BOARD MEETING CANDIDATES VIRTUAL MEET + GREET

9AM-5PM

TIME TBD

On-site voting and replacement ballots are available at Northwoods Clubhouse until 5PM. A government or Tahoe Donner photo ID is required to submit a ballot in person. The Inspector of Election will oversee the ballot counting process. The deadline for receipt of ballots mailed or personally delivered to the Accountancy Firm is 5PM.

CHECK WEB FOR UPDATES

CANDIDATES NIGHT VIRTUAL FORUM 6-9PM ONLINE MEETING Join the online forum moderated by the Inspector of Election or their designee.

ONLINE MEETING Get to know the candidates in an online meeting where members have the opportunity to submit questions via online chat and candidates can articulate their campaign platforms.

ELECTION DAY + ANNUAL MEETING OF MEMBERS 10AM-12PM Personally delivered ballots may be accepted until 11:30AM with a valid photo ID. Election results are announced prior to the end of the meeting, providing a quorum of the voting power of the association is reached (25%). If not, meeting is adjourned to June 28.

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

TAHOE DONNER NEWS |

THE REPORT

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

HEAVEN’S BEST CARPET CLEANING 15875 Rolands Way, Truckee, CA 96160 (530) 320-4192 a.pratt@heavensbest.com laketahoe.heavensbest.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

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 SERVICE

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

TIMBERWOLFE TREE SERVICE AND DEFENSIBLE SPACE 15444 Archery View, Truckee, CA 96161 (530) 386-3340 todd@twts.biz timberwolfetreeservice.com

DRIVEWAY SEALING ELEMENTS MOUNTAIN CO.

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

FIREPLACES / WOOD STOVES MOUNTAIN HOME CENTER

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

EAST FORK ROOFING

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

INMOTION MECHANICAL PO Box 999, Truckee, CA 96160 (530) 210-2275 info@inmotionheating.com inmotionheating.com

MR. HONEY-DO

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

TRUCKEE TAHOE PROS (530) 550-7767 (PROS) truckeetahoepros.com

VERDI ENERGY, INC.

GROCERY

12257 Business Park Drive, Ste. 9, Truckee, CA 96161 (775) 391-3111 info@verdienergyinc.com verdienergyinc.com

10001 Soaring Way, Truckee, CA 96161 (530) 587-0125 raleys.com/landing/truckee

HVAC

RALEY’S O-N-E MARKET

HEALTH CARE

TAHOE FOREST HOSPITAL

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

HOME + OUTDOOR FURNISHINGS MOUNTAIN HOME CENTER

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

HOME MAINTENANCE + SERVICES ALL SLOPES ROOFING

PO Box 2077, Loomis, CA 95650 (916) 663-4036 robert@allslopesroofing.com allslopesroofing.com

INMOTION MECHANICAL PO Box 999, Truckee, CA 96160 (530) 210-2275 info@inmotionheating.com inmotionheating.com

M+S HEATING + AIR

(775) 843-7930 - Reno (530) 725-5450 - Lake Tahoe kentj@ms-ac.com ms-ac.com

INSURANCE

NIC BEDDOE – STATE FARM AGENCY 10775 Pioneer Trail, Ste. 211C, Truckee, CA 96161 (530) 550-1400 nic@beddoeinsurance.com beddoeinsurance.com

PETER FUSZARD – STATE FARM AGENCY

11045 Donner Pass Road, Ste. 1A, Truckee, CA 96161 (530) 587-3883 peter.fuszard.f0uz@statefarm.com statefarm.com/agent/us/ca/truckee/peter-fuszard

INTERIOR DESIGN BASSETT FLOORING

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

CABINET AND LIGHTING SUPPLY 11355 South Virginia Street, Reno, NV 89511 (775) 851-4004 cabinetandlighting.com

DONNER TAHOE FLOORING

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

LAUNDROMAT TRUCKEE LAUNDRY

11430 Deerfield Drive, Ste. B5, Truckee, CA 96161 (530) 587-9274 (WASH) truckeelaundry.com

MAIL SERVICES

THE OFFICE BOSS MAIL CENTER

12177 Business Park Drive #2, Truckee, CA 96161 11260 Donner Pass Road #C1, Truckee, CA 96161 (530) 587-1620 customerservice@theofficeboss.com theofficeboss.com

OUTDOOR RETAILERS

KELLY BROTHERS PAINTING

11020 Trails End Court, Truckee, CA 96161 (530) 550-0806 kellybrotherspainting.com

KELLY-MOORE PAINTS

40153 Truckee Airport Road., Bldg. 1, Truckee, CA 96161 (530) 550-7201 kellymoore.com

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

sierraprecisionpainting@gmail.com sierraprecisionpainting.com

PHOTOGRAPHY

AMBER EZELL PHOTOGRAPHY 1420 Clough Road, Reno, NV 89509 (775) 527-8038 amber@amberezellphotography.com amberezellphotography.com

REAL ESTATE

ALISON ELDER – ELDER GROUP TAHOE REAL ESTATE | CORCORAN GLOBAL LIVING

DICKSON REALTY, TRUCKEE

10115 Donner Pass Road, Truckee, CA 96161 (530) 563-5119 info@troutcreekoutfitters.com troutcreekoutfitters.com

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

PAINTING SERVICES

THE SHARP TEAM/COMPASS

11406 Oslo Drive, Truckee, CA 96161 (530) 587-7525, (678) 665-5497 dave@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

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 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.

10770 Donner Pass Road, Ste. 205, Truckee, CA 96161 (530) 582-8103 info@eldergrouptahoe.com eldergrouptahoerealestate.com

TROUT CREEK OUTFITTERS

DEDEN PAINTING

SNOW REMOVAL

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

RENTAL SERVICES LANDING LOCALS hello@landinglocals.com landinglocals.com

Cabinet and Lighting Supply The perfect jewelry for your home.

SHOWROOM 11355 S. Virginia Street Reno | 775.851.4004

cabinetandlighting.com TAHOE DONNER NEWS |

THE REPORT

GREEN WASTE Warm weather is just around the corner, and so is yard cleanup and defensible space work. Creating defensible space is everyone’s responsibility to keep our community safe from wildfires. Get a leg up by planning your cleanup activities now.

WASTE + RECYCLING SERVICE

In Tahoe Donner, trash and recycling pick-up day is Tuesday. Blue recycling bags will be picked up every week. Place blue bags next to your garbage can to avoid any overage costs. All cardboard must be placed inside the blue bag. Blue carts are serviced every other week in alternating weeks with green carts. To order a blue cart, call Tahoe Truckee Sierra Disposal (TTSD) at (530) 583-7800.

GREEN CART SERVICE

In Tahoe Donner, green yard waste carts will be picked up every other Tuesday from May 4 through November 16.

MAY JUNE

4 + 18 1, 15 + 29

JULY

13 + 27

AUGUST

10 + 24

SEPTEMBER

7 + 21

OCTOBER

5 + 19

NOVEMBER

2 + 16

TIPS ON USING YOUR GREEN WASTE CART No plastic bags necessary. Place yard waste – pine needles, grass clippings, pinecones, branches and shrub materials – directly in the cart. On your collection day, place your cart curbside by 6AM with the wheels facing away from the street. The cart must be three feet away from other objects. Lids must be closed flush. Overfilled carts will not be serviced.

NEVADA COUNTY GREEN WASTE DROP-OFF DAYS

The Town of Truckee has teamed up with Nevada County for green waste drop-off days, which will be located at the Rodeo Grounds from 8AM-2PM. This is a self-service program for residential yard waste. Please do not throw dirt, rocks or bags as waste. Please have patience, and be prepared to wait in line, as drop-offs may take longer than usual due to physical distancing.

DATES: MAY 14, JUNE 4 + JUNE 25 NOTE: Tahoe Donner has changed its member offering of additional green waste disposal this year. There will not be a green waste dumpster available at Northwoods Clubhouse. Instead, Tahoe Donner will offer one to two special green waste drop-off days like the above County/Town offering later in the summer. This event will be scheduled for a weekend day and staffed to ensure member-use only. This change comes after consideration of the offering, availability of disposal utilizing Town resources and use of the resource by those other than members.

GREEN WASTE CART SERVICE Opt in to receive up to three 96-gallon green yard waste carts. Green cart service is every other week. Order yours by calling (530) 583-7800. Residents will be charged a delivery fee for drop-off OR they may pick up the cart from Town facilities for free with advanced order.

COVENANTS REQUIREMENT: Rolling carts are to be stored out of sight, either in a garage or underneath a side or rear deck if the property does not have a garage.

GREEN WASTE DUMPSTER SERVICES Six-yard green waste dumpsters are available by reservation for a reduced one-week rental. Call TTSD to order at (530) 583-7800. Dumpster rentals do sell out, so book in advance.

DUMPSTER REBATE: Truckee Fire Protection District is providing a rebate for green waste dumpster rentals. Visit truckeefire.org/defensible-space for more details. One rebate per household while program funds last.

SELF/CONTRACTOR HAUL Drop off up to six yards of yard waste at Eastern Regional Landfill (ERL) for free from May–October. You will receive an address-specific punch card to track yards dropped off. Proof of residency required to qualify, such as an ID or trash bill.

Punch cards are transferable! Contractors can also drop off yard waste at ERL for free by using the resident’s punch card. (The resident must be present to be issued the card with proof of residency.)

TRACK YOUR GARBAGE BILLS WITH EMAIL NOTIFICATIONS

Residents can receive an email notification within a few days of service charges being placed onto their trash account. Be alerted of extra charges before you receive your trash bill at the end of the quarter! Learn how to opt in through your online customer portal at waste101.com.

HOW TO MAKE A COVENANTS COMPLAINT 1

Call (530) 414-8166. Phone is staffed from 8AM-5PM Monday-Friday, 9:30AM-6PM on Saturday and Sunday, with a daily after-hours answering service from 5PM-8AM (9:30AM on weekends).

is now

Email compliance@tahoedonner.com.

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Submit at onestop.tahoedonner.com.

TAHOEDONNER.COM/BESTOMER

WHAT INFORMATION TO PROVIDE When making a complaint, be prepared to provide: • Your name, address and email • Address of property being complained about • Nature of complaint with times occurring • Evidence: photos, video, etc. • How this behavior is affecting you • What actions have been taken (e.g., called police)

WHAT HAPPENS NEXT Tahoe Donner will make every effort to contact the owner of the property being complained about, share details about the complaint and request voluntary compliance. We will: • Call the primary phone number on file and speak to the owner or leave a message • If no answer, call additional phone numbers on file to speak with or leave messages for owner or designated contact • Email the owner via any email on file • Send follow-up email to the complainant confirming attempts to contact owner

TOWN OF TRUCKEE STR HELPLINE (530) 450-2430

REPORT STR VIOLATIONS INCLUDING NOISE, TRASH, PARKING AND MORE

Please utilize the Helpline if you wish to report a property that is in violation of the Town of Truckee’s short-term rental ordinance.

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THE REPORT

2021 DEFENSIBLE SPACE INSPECTIONS YOUR PROPERTY’S FRONTLINE DEFENSE AGAINST WILDFIRE Tahoe Donner Forestry Department staff would like to congratulate and thank you for your efforts in creating a fire-safe community. Tahoe Donner has been recognized as a Firewise USA® community again for 2021.

REQUEST A REINSPECTION

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

RULES AND GUIDELINES

2021 DEFENSIBLE SPACE ZONE

During the fall of 2020, defensible space inspections took place within all of Unit 8 lots 1-608 and Unit 2 lots 1-391. Properties that were found to be noncompliant will be reinspected beginning June 2021. Areas subject to reinspection to complete compliance verification include properties located on Northwoods Boulevard, Zurich Place, Hidden Circle, Hansel Avenue, St. Bernard Drive, Chamonix Road, Falcon Point Place, Lausanne Way, Bennett Flat Road, Mougle Lane, K T Court, Tundra Drive, Bavarian Way, Kitzbuhel Road, Sitzmark Way, Munich Drive, Nordic Lane and Schussing Way.

HOW YOU WILL BE NOTIFIED OF INSPECTIONS • Inspection notifications will be sent electronically instead of physically via USPS.

• Members whose properties will be subject to this year’s defensible space inspection zone have been provided with a reminder email showing an outline of the inspection process. • This electronic notification will serve as a 45-day notice to inspect.

To request a reinspection, complete the online request form at tahoedonner.com/defensible-space.

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

KEY GUIDELINES DEVELOPED LOTS 10 ft.

Areas of continuous brush must be broken up. No brush may be underneath the dripline of trees. Flames can reach three times the height of brush or more. Cut brush back so that it stays low to the ground. This highlights a few items to be considered for defensible space. Please VIEW FULL GUIDELINES AT TAHOEDONNER.COM/DEFENSIBLE-SPACE.

No branches within 10 feet of chimney, roof and eaves.

30 ft.

Firewood, lumber or any flammable material should be stacked 30 feet from the structure; make sure it is stacked on your property. Old, unused or decomposed firewood must be removed. Firewood rounds cannot be left on the property; wood must be split and stacked neatly.

DEVELOPED AND UNDEVELOPED LOTS

• Members will also receive a reminder email notification at least 45 days before their inspection date. Watch your email inbox and junk folder for reminder emails and add nchristensen@tahoedonner.com to your safe sender list. If you need to update your email address, please go to tahoedonner.com/contact-update.

under 10 inches in diameter that are growing without proper spacing from one another or growing under the canopy of larger trees.

Excessively dense tree cover must be thinned, which generally applies to trees

Covenants and restrictions require that each lot be maintained annually to not create a fire hazard. Failure to comply may result in a hearing and possible fine from the Covenants Committee. Covenants Rules can be found under “Homeowner Guidelines” at tahoedonner.com/members. If you have questions about the defensible space program, please visit tahoedonner.com/defensible-space or email defensiblespace@tahoedonner.com.

INSPECTION AUTHORITY

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

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TAHOE DONNER NEWS |

THE REPORT

BRIEFS NEW CUSTOMER + MEMBER SERVICES MANAGER Tahoe Donner is excited to welcome Kevin Obersheimer as the new customer and member services manager. Kevin holds over 16 years in customer service luxury hospitality and high-end property amenity management.

downhill ski lodge. Uses could include additional amenities like a beginner mountain bike park, expanded hub for trail access, adventure park and event site as well as continued day camp use. The impact of these uses in regard to capital costs, operating costs and revenue potential is being analyzed. The final business plan from PROS Consulting will show the results of this work. Bull Stockwell Allen (BSA), selected as the architectural design team to plan and design the proposed lodge from conceptual design to final construction plan, has gone through several conceptual design iterations with management and the task force. A member workshop took place on April 29, where members discussed the business plan and conceptual design. The presentations and outcome of the workshop are available online at tahoedonner.com/lodge-replacement-project.

After serving as the director of rooms for PlumpJack Squaw Valley Inn for six years and living in the Tahoe Basin for 14, he and his wife recently spent two years in San Diego. There, Kevin worked as a hotel general manager and director of operations. As John Muir once said, though, “the mountains are calling, and I must go,” and he and his wife have returned to the Tahoe area. He is excited to share his knowledge of five-star customer service and teambuilding practices along with financial expertise with the Tahoe Donner team. In his spare time, you can find Kevin in the mountains skiing, golfing, bodyboarding, traveling, reading, eating and making a mean breakfast. Welcome to the team, Kevin!

DOWNHILL SKI LODGE UPDATE PROS Consulting, our third-party consultant, is in the process of finalizing their pro forma and business plan that will reflect what fourseason use would be viable for the future

EXCITING SUMMER OPPORTUNITIES AT TAHOE DONNER! Summer is coming, so make sure you spend it at one of the most scenic places in Tahoe! Take advantage of fun and exciting open positions with perks like easy access to trails, food and beverage discounts and more. Openings include: • Trout Creek Recreation Center Host • Cook • Greenskeeper • Beach Attendant • Camp Leader To learn more about perks and positions, visit tahoedonner.com/jobs.

USE DIRT TRAILS, NOT MUDDY TRAILS We know you’re itching to get outside and enjoy the spring conditions. Because we want you to have great trails all spring and summer, PLEASE stay off them if they’re muddy. Using muddy trails, whether by foot,

horse or bicycle, causes major damage to the trail and the surrounding environment. As the snow melts, consider these options: • Use trails early in the day when they’re still frozen. • South-facing slopes and paved trails offer the best springtime conditions. • Check out mountain biking in Reno or Auburn with dry tread and blooming flowers. • If you approach mud, please walk or ride through it or look for rocks or snow to step on to avoid widening the trail. • When possible, avoid muddy trails altogether until they’re dry! Learn more at tahoedonner.com/trail-use.

SAMMY AWARD HONORS TAHOE DONNER DOWNHILL SKI MANAGER Tahoe Donner Ski Area Manager Robert McClendon is one of four ski individuals honored with a 2021 SAMMY Leadership Award presented by Ski Area Management. Since 1998, the annual SAMMY Leadership Awards have recognized leaders in the mountain resort industry who, at mid-career, demonstrate the passion, involvement, work ethic, entrepreneurship and creativity that will shape our future. McClendon first started working at Tahoe Donner Downhill Ski Resort at age 14. Holding the title of ski resort manager since 2007, he is accountable for the area’s multi-million-dollar annual budget and over 175 employees. Overseeing all departments, he prides himself on being a hands-on leader with a focus on satisfaction and safety for his employees and guests. A true outdoor enthusiast, McClendon’s leadership skills and lifelong passion for his hometown ski resort make him an invaluable force for Tahoe Donner and the ski industry’s continued progress and success. Congratulations, Robert!

THE REPORT

IMPROVEMENTS ALONG EAST DONNER PASS ROAD By THE TOWN OF TRUCKEE

The Town of Truckee has been working with Tahoe Donner Association and California State Parks since 2018 to evaluate options to modify the existing on-street parking configuration on Donner Pass Road adjacent to Donner Memorial State Park and the Tahoe Donner Beach Club properties; this collaboration is an effort to reduce user conflicts between vehicles, bicycles and pedestrians and to reduce environmental degradation. An existing conditions analysis, including a parking user survey, was prepared in 2018, and the Town has solicited input from a stakeholder working group to develop an improvement recommendation. Below is a summary of key stakeholder input:

The Town of Truckee has installed boulders along Donner Pass Road between the Tahoe Donner Beach Club Marina and the California State Parks driveway to convert existing head-in parking to parallel parking where feasible. Additional enforcement signage will be added if necessary, but the Town is initially starting with a minimal signage approach. A paved area for vehicles to turn around has also been constructed on the west end of the project area, as shown in the figure below. A five-minute loading/

unloading zone will be provided near the driveway entrance to the Beach Club Marina. Also note that a trail was built between the Coldstream development and the State Parks driveway in 2020, which effectively eliminated on-street parking along Donner Pass Road east of the State Park driveway. An updated parking user survey in addition to vehicle, bicyclist and pedestrian counts will be conducted this summer to help evaluate the effectiveness and impacts of the improvement.

Conceptual 2021 Improvements: Boulders with Parallel Parking and Additional Signage

• There is an overall goal to eliminate user (vehicle, bicyclist and pedestrian) conflicts and environmental degradation in this area. • The State Park has a general desire to eliminate on-street parking adjacent to the State Park. • Tahoe Donner Association has requested that TSSA-1 funds not be expended in this area. • Truckee Trails Foundation requested that the user conflict issues be addressed prior to the upcoming summer season. Donner Lake

TAHOE DONNER NEWS |

THE REPORT

BOARD MEETING RECAP BOARD OF DIRECTORS MEETING March 26, 2021

UPCOMING BOARD MEETINGS

Friday, May 28, 2021 – Regular Board Meeting Friday, June 25, 2021 – Regular Board Meeting + Election Ballot Meeting Sunday, June 27, 2021 – Annual Meeting of Members

ACTION: Consent Calendar, 5 – 0 ACTION: Committee/Task Force – No action ACTION: Giving Fund – Scholarships, 5 – 0 • The Board accepted the request by the Giving Fund authorizing up to $235,000 for scholarship awards. DISCUSSION: General Manager Update • The Board received an update from the General Manager on COVID-19 summer operations, the Lodge at Downhill Ski, Donner Pass Road parking and a Tahoe Donner member portal.

Board meeting dates subject to change. Visit tahoedonner.com for dates. Go to tahoedonner.com/boardmeetingdocs to see presentations or complete video recordings of past meetings. To provide feedback to help improve the overall association, please submit your comments and concerns to tahoedonner.com/feedback.

HOMES ON THE RISE

ACTION: Finance and General Plan Committee Charters, 3 – 2 (Directors Koenes and Mahoney no) • The Board moved to have the Committee Chair for the Finance and General Plan Committees meet with management and have one charter presented as an advisory charter to the Board.

The Architectural Standards Committee reviewed the following plans in March 2021.

ACTION: Board of Directors Code of Conduct, 5 – 0 • The Board approved the proposed Code of Conduct with additional clarification in Section G, stating “Directors are expected to abide by the Campaign Guidelines.” ACTION: 2021 Workplan, 5 – 0 • The Board accepted the 2021 Workplan with an amendment to the last page. ACTION: Pizza on the Hill Code Compliance, 5 – 0 • The Board approved the acceleration of Reserve Replacement Funds for Pizza on the Hill code compliance to reopen by Memorial Day 2021.

UNIT/LOT ADDRESS

SQ. FT.

PROJECT

03/406

14461 Skislope Way

2,888

House

05/288

14723 Copenhagen Drive

2,880

House

08/078

11545 Bennett Flat Road

2,849

House

09/375

13360 Hansel Avenue

3,101

House

09/568

12431 Greenleaf Way

3,221

House

10/323

12534 Muhlebach Way

3,134

House

10/478

14223 Pathway Avenue

2,662

House

COVENANTS VIOLATIONS HEARINGS

The Covenants Committee did not conduct any hearings in March 2021.

DISCUSSION: Financial Update • The Board of Directors received an update on the unaudited financials for the month of February. DISCUSSION: Quarterly Treasurer’s Investment Report

UPCOMING COMMITTEE MEETINGS

Monday, May 3, 2021 – General Plan Meeting Monday, May 3, 2021 – Downhill Ski Lodge Meeting Tuesday, May 4, 2021 – Elections Meeting Wednesday, May 5, 2021 – Architectural Standards Meeting Monday, May 10, 2021 – Giving Fund Meeting Thursday, May 13, 2021 – Covenants Meeting Wednesday, May 19, 2021 – Architectural Standards Meeting Thursday, May 20, 2021 – Finance Meeting Thursday, May 27, 2021 – Trails + Open Space Meeting To get meeting details, including Zoom meeting registration information and time, please send an email to rbennett@tahoedonner.com.

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TAHOE DONNER ASSOCIATION 11509 NORTHWOODS BLVD. TRUCKEE, CA 96161

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