EFTA00604789.pdf

Caution: Forms printed from within Adobe Acrobat products may not meet IRS or state taxing agency specifications. When using Acrobat 5.x products, uncheck the "Shrink oversized pages to paper size" and uncheck the "Expand small pages to paper size" options, in the Adobe "Print" dialog. When using Acrobat 6.x and later products versions, select "None" in the "Page Scaling" selection box in the Adobe "Print" dialog. CLIENT'S COPY EFTA00604789 How Arc You Managing? J.H. COHN LLP Aticonum and CcelcutTarti cap 1919 CORE CLUB MEMBERS CORPORATION 121.2 Avant...It& IfInfriat5 New York. NY 10036 212-297-0400 fax 212-922-0913 totosulkoltniorst ENCLOSED ARE THE ORIGINAL AND ONE COPY OF YOUR 2007 CORPORATE TAX RETURNS, AS FOLLOWS... 2007 U.S. CORPORATION INCOME TAX RETURN 2007 NEW YORK CORPORATION INCOME TAX RETURN 2007 NEW YORK CITY CORPORATION INCOME TAX RETURN WE RECOMMEND THAT YOU SEND THE RETURNS TO THE TAXING AUTHORITIES BY CERTIFIED MAIL WITH A REQUEST FOR A RETURN RECEIPT. PLEASE RETAIN THE RECEIPT AS A PROOF OF TIMELY FILING. WE SINCERELY APPRECIATE THIS OPPORTUNITY TO SERVE YOU. IF YOU HAVE ANY QUESTIONS REGARDING THE RETURNS, PLEASE DO NOT HESITATE TO CALL. EACH ORIGINAL RETURN SHOULD BE DATED, SIGNED AND FILED IN ACCORDANCE WITH THE FILING INSTRUCTIONS. COPIES OF EACH RETURN SHOULD BE RETAINED FOR YOUR FILES. SINCERELY, GARY LEVY NI NI :A INTERNATIONAL I.N. Cohn LIP is a mambo of Ntaia Inenaateonal a worldwide mooch of independent accourams and consulting fans. EFTA00604790 2007 TAX RETURN FILING INSTRUCTIONS U.S. CORPORATION INCOME TAX RETURN FOR THE YEAR ENDING DECEMBER 31, 2007 Prepared for CORE CLUB MEMBERS CORPORATION Prepared by J.H. COHN LLP To be signed and dated by THE APPROPRIATE CORPORATE OFFICER(S). Amountoftax Total tax Less: payments and credits Plus: Interest NO PMT REQUIRED $ 0 $ 0 $ 0 $ Overpayment CmdkedloymrestimMedtax Retmdedtoyou $ 0 $ 0 Make check payable to NOT APPLICABLE Mail tax return and check (if applicable) to DEPARTMENT OF THE TREASURY INTERNAL REVENUE SERVICE CENTER CINCINNATI, OH 45999-0012 Return must be mailed on or before PLEASE SIGN AND MAIL AS SOON AS POSSIBLE. Special Instructions EFTA00604791 For. 1120 Department of Ira Leta. . Internal Revenue Saute:, beginning U.S. Corporation Income Tax Return For calendar year 2007 or tax year . ending O/48 No. 1545.0123 2007 A Check it to Consolidated rattan 0 Plinth Form 851) b Lie/ncnItle comae- a elated return 2 Personal holOn? CO 0 3 Personal Wyk. aNDO Nee nsaucbons) 4 Schedule 14-3 attached CI Use IRS label. Other- wise, print or type. Name CORE CLUB MEMBERS CORPORATION B Onp10 er identification nut Number. street. and room or suite no. If a P.O. box, see instructions. Date hoop orated 12/06/2004 City or town, state. and ZIP code D Total assets (see Instructions) 124,202. I' 1 i C WWI IL UN I IIIIMI (MUM iZIL_I rural return tap i name unange ill/L-1 Arlaress cnange 1 _ 1 terms recelple a Salt. I 4, 856,394 . BLS returns Dna allowances I 89,340.Ic Bal Ph. to 4,76-7,054. 2 Cost of goods sold (Schedule A, line 8) 3 Gross profit Subtract line 2 from line lc 4 Dividends (Schedule C, line 19) 5 Interest 6 Gross rents 7 Gross royalties 8 Capital gain net income (attach Schedule D (Form 1120)) 9 Net gain or (loss) from Form 4797, Part II, line 17 (attach Form 4797) 10 Other income (attach schedule) 11 Total Income. Add lines 3 through 10 O. 2 4,270,728. 3 496,326. 4 5 6 7 8 9 10 II 496,326. (Deductions pee instructions for limitations on deductions.( 12 Compensation of officers (Schedule E, line 4) 18 Salaries and wages (less employment credits) 14 Repairs and maintenance 16 Bad debts 16 Rents 17 Taxes and licenses BEE 18 Interest 19 Charitable contributions 20 Depreciation from Form 4562 not claimed on Schedule A or elsewhere on return (attach 21 Depletion 22 Advertising 23 Pension, profit-sharing, etc., plans 24 Employee benefit programs 25 Domestic production activities deduction (attach Form 8903) 26 Other deductions (attach schedule) SEE 27 Total deductions. Add lines 12 through 26 28 Taxable incomebeam net operating bss decluction and special deductions. Subtract line 27 from line 29 Less: a Net operating loss deduction STATEMENT 3 STATEMENT Form STATEMENT 11 I 29 I 1 4562) 2 Ille. 0 . 12 13 14 15 16 400,000. 17 400. 18 19 20 21 22 23 24 25 26 838,256. 27 1,238,656. 28 <742,330.: 29c b Special deductions (Schedule C, line 20) 29b Tax and Payments I 30 Taxable Income. Subtract line 29c from 31 Total tart (Schedule J, line 10) 32 a 2006 overpayment credited to 2007 line 32a 28 (see instructions) 30 <742,330 31 0 . 32g b 2007 estimated tax payments 32b e 2007 refund applied for on Form 4466 32c d Bal Iln. 32d e Tax deposited with Form 7004 32e f p ets: ( 1) Form 2939 (2)Fcrm 4136 32f 33 Estimated tax penalty (see instructions). Chedc B Form 2220 is attached 34 Amount owed. If line 32g is smaller than the total of lines 31 and 33, enter amount owed 35 Overpayment If line 32g is larger than the total of lines 31 and 33, enter amount overpaid 36 Enter amount from line 35 you want Credited to 2008 estimated tax 00 Refunded O. 33 34 0 . 35 36 Sign Here Undo' penahies of per I declare that I have married this return, inducing accompanying scheduks aro staltnrcr la. srei to the boat 0' in kn'.rkeoe..nd ocher. 4 is true. correct. and complete. Dedwatian of prepare. (other than taxpayer) is booed on all information ol which prepare, has any knowledge. I vriria„airirrArs 8 ann IF/ skpaivrorgokisi Date toe Yes No Paid Preparers Use Only Preparere signature Date tAleCk it a sal-ernployed Vi Farina:nu /3 . H H. COHN L LP vow, EIN Ise:tenni Phone no. adcluss. and ZP coda 12 7116°1 JWA For PrIvacy/Paperwork Reduction Act Notice, see instructions. /26-07 Form 1120 (2007) EFTA00604792 Famu20,2mn CORE CLUB MEMBERS CORPORATION Page 2 Schedule A Cost of Goods Sold (see instructions 1 Inventory at beginning of year t 49,811. 2 Purchases 2 4,342,157. 3 Cost of labor 3 4 Additional section 263A costs (attach schedule) 4 5 Other costs (attach schedule) 5 6 Total. Add fines 1 through 5 6 4,391,968. 7 Inventory at end of year 7 121,240. 8 Cost of goods sold. Subtract line 7 from line 6. Enter here and on page 1, ine 2 8 4,270,728. 9 a Check all methods used for valuing closing inventory: (i) M Cost (ii) Lower of cost or market (iii) 0 Other (Specify method used and attach explanation.) ON• b Check if there was a writedovm of subnormal goods la• Li c Check if the LIFO inventory method was adopted this tax year for any goods (if checked, attach Form 970) d If the LIFO inventory method was used for this tax year, enter percentage (or amounts) of I 9d closing inventory computed under LIFO e If property is produced or acquired for resale, do the rules of section 263A apply to the corporation? LJ Yes LXJ No f Was there any change in determining quantities, cost, or valuations between opening and c osing inventory? 1 11 (c) Special deductions (a)x (b) Schedule C Dividends and Special Deductions (see instructions) (a)Dividends received (ti) % 1 Dividends from less-than-20%-owned domestic corporations (other than debt-financed stock) 70 2 Dividends from 20%-or-more-owned domestic corporations (other than debt-financed stock) 80 3 Dividencb on debt-financed stock of domestic and foreign corporations .34, int*UCtron: 4 Dividends al certain preferred stock of less-than-20%-owned pubic utilities 42 5 Dividends al certain preferred stock of 20%-a-n ore-onned public otitis; 48 8 Dividends Iran lesa-than-2094 -wined faagn caporations and certain FSCs 70 7 Dividends from 20% -or-rnse-aemed forces, corporations and certain FSCs 80 8 Dividends from wholly owned foreign subsidiaries 100 9 Total. Add lines 1 through 8 10 Dividends from domestic corporations received by a small business investment company operating under the Small Business Investment Act of 1958 100 11 Dividends Iran affiliated grow mambas 100 12 Dividends Iran certain FSCs 100 13 Dividends kill foreign co:casabas not friduled on fifes 3.8. 7.8. 11. er 12 14 inane from ceeholed fcceign corporation under subpart F (attach Forns)5471) 15 Foreign dividend gross-up 16 C -DISC and former DISC dividends not included on Ines 1.2. or 3 17 Other dividends 18 Deduction for dividends paid on certain preferred stock of public ditties 19 Total dividends. Add lines 1 through 17. Enter here and on page 1, line 4 II" 20 Total special deductions. Add lines 9. 10. 11. 12. and 18. Enter here and on page 1, line 29b Ill• Schedule E Compensation of Officers zotrztrurro.;:zath= le line 1,mairiceolsoinc, la pin fines 4 though 10 al page 1) are a500.000 or more. Name ol officer (b)Social security number (c) Percent of time devoted to business Percent of corporation (a) stock o erred (fiAmount of compensation (d) Com mo n (e) Preferre d *JENNIE SAUNDERS 100.00% 2 Total compensation of officers 3 Compensation of officers claimed on Schedule A and elsewhere on return 4 Subtract line 3 from line 2. Enter the result here and on page 1. line 12 I2.28-07 JWA 2 2007.07080 CORE CLUB MEMBERS CORPORATI Form 1120 (2007) EFTA00604793 Form 1120(2007) CORE CLUB MEMBERS CORPORATION Page 3 Schedule .1 I Tax Computation (see instructions) 1 Check if the corporation is a member of a controlled group (attach Schedule 0 (Form 1120)) od_J 2 Income tax. Check if a qualified personal service corporation (see instructions) 2 0. 3 Alternative minimum tax (attach Form 4626) 3 4 Add lines 2 and 3 4 0. 5a Foreign tax credit (attach Form 1118) b Credits from Forms 5735 and 8834 c General business credit. Check applicable box(es): D Form 3800 D Form 5884 El Form 6478 0 Form 8835, Section B 0 Form 8844 CI Form 8846 d Credit for prior year minimum tax (attach Form 8827) e Bond credits from: D Form 8860 0 Form 8912 5a 5b 5c 5d 5e 6 Total credits. Add lines 5a through 5e 6 7 Subtract line 6 from line 4 7 O. 8 Personal holding company tax (attach Schedule PH (Form 1120)) 8 9 Other taxes. Check it from' CI Form 4255 El Form 8611 El Form 8697 Form 8866 l= Form 8902 l= Other (attach schedule) 9 10 Total tax. Add lines 7 through 9. Enter here and on page 1, fine 31 10 O. Schedule K I Other Information (see instructions) 1 Chedc accounting method: a I I Cash b LXJ Accrual Yes No 7 At anytime during the tax year, did one foreign person own, directly or indirectly, at least 25% of (a) the total voting power of all classes of stock of the corporation entitled to vote or (b) the total value of all classes of stock of the corporation? Yes No c 0 Other (specify) Iln• X 2 See the instructions and enter the: a Business activity code no. Ir. b BuyilirapCbVIly O. PRIVATE MEMBERS CLUB X If 'Yes," enter (a)Percentage owned Illo. X c Proaci er ealtiCe P. PRIVATE MEMBERS CLUB and (b) Owners country In. 3 At the end of the tax year, did the corporation own, directly or indirectly, 50% or more of the voting stock of a domestic corporation? (For rules of attribution, see section 267(c).) If "Yes; attach a schedule showing: (a) name and employer identification number (EIN), (b) percentage owned. and (e) taxable income or (loss) before NOL and special deduction of such corporation for the tax year ending with or within your tax year. 4 Is the corporation a subsidiary in an affiliated group or a parent-subsidiary controlled group? If Nes,' enter name and EIN of the parent corporation Ili• c The corporation may have to file Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business. Enter number of Forms 5472 attached Illb. X 8 Check this box it the corporation issued publicly offered debt instruments with original issue discount I, 0 If checked, the corporation may have to file Form 8281, Information Return for Publicly Offered Original Issue Discount Instruments. 9 Enter the amount of tax-exempt interest received or accrued during the tax year pr. $ X 10 Enter the number of shareholders at the end of the tax year (if 100 or fewer) Iln. 5 At the end of the tax year, did any individual, partnership, corporation, estate, or trust own, directly or indirectly, 50% or more of the corporation's voting stock? (For rules of attribution, see section 267(c).) STATEMENT 4 If Nes,' attach a schedule showing name and identifying number. (Do not include any information already entered in 4 above.) Enter percentage owned Ir. 100.00 11 If the corporation has an NOL for the tax year and is electing to forego the carryback period, check here 1100 III X If the corporation si filing a consolidated return, the statement required by Regulations section 1.1502-21(b)(3) must be attached or the election will not be valid. 12 Enter the available NOL carryover from prior tax years (Do not reduce it by any deduction on line 29a.) In. $ 954,780. 6 During this tax year, did the corporation pay dividends (other than stock dividends and distributions in exchange for stock) in excess of the corporation's current and accumulated earnings and profits? (See sections 301 and 316.) If Nes,' file Form 5452, Corporate Report of Nondividend Distributions. If this is a consolidated return, answer here for the parent corporation and on Form 851, Affiliations Schedule, for each subsidiary. 13 Are the corporation's total receipts (line la plus lines 4 through 10 on page 1) for the tax year and its total assets at the end of the tax year less than $250,000? If 'Yes," the corporation is not required to complete Schedules L, M-1, and M-2 on page 4. Instead, enter the total amount of cash distributions and the book value of property distributions (other than cash) made during the tax year. Pao $ JWA Form 1 20 (2007) 711621 12.26-07 3 2007.07080 CORE CLUB MEMBERS CORPORATI EFTA00604794 Fwm1120(2007) CORE CLUB MEMBERS CORPORATION 4 i Schedule L I Balance Sheets per Books Beginningetax yeas Ed Llyca' Assets 1 Cash 2a Trade notes and accounts receivable b Less allowance for bad debts 3 Inventories 4 U.S. government obligations 5 Tax-exempt securities 6 on. currant Mete tan. mkt 7 Loans to shareholders 8 Mortgage and real estate bans 9 Other investments (an. sch.) 10a Buildings and other depreciable assets b Less accumulated depreciation 11a Depletable assets b Less accumulated depletion 12 Land (net of any amortization) 13a Intangble assets (amortizable only) b Less accumulated amortization 14 Other assets (at sch.) 15 Total assets (a) (b) (c) (d) ( 49,811. 121,240. ( 1,925. 3,515. 1,765. 2,962. ( 1604 ( 5534 51,576. 124,202. Liabilities and Shareholders' Equity 16 Accounts payable 17 Mortgaged notes. bends payable in leeston 1 yeer 18 Other current liabilities (ate sch.) $TMT 5 19 Loans from shareholders 20 licTidefele. meet bonds payabea In I yeas more 21 Other liabilities (att. sch.) STMT 6 22 Capital stock: a Preferred stock I) Common stock 23 Additional paid-in capital 24 2;4 s net ierdnirac; =piste 25 Retained earnings -Unappropriated 26 .4=V oatTur en 27 Less cost of treasury stock 28 Total liabilities and shareholders' equity.. 28,004. 31,630. 990,851. 1,802,384. <967,279.> <1,709,812. ) 51,576. 124,202. I Schedule M-1 I Reconciliation of Income (Loss) oer Books With Income oar Return Note: Schedule M-3 required instead of Schedule 1A-1 if total assets are $10 million or more - see instructions 1 Net income (loss) per books 2 Federal income tax per books 3 Excess of capital losses over capital gains 4 income ramoci to tax not recorded on becks this year (itemize): <742,533 >7 Income recorded on books this year not included on this retum (itemize): Tax-exempt interest $ 8 Deductions on this retum not charged against book income this year (itemize): a Depreciation 5 Expenses recorded on books this year not deducted on this retum (itemize): a Depreciation 203 010/1191:010 sentributkris Charitable U canirleulions Travel and C Ceinetalnment STMT 7 203. 9 Add lines 7 and 8 >10 Income (page 1. line 28)- foe 6 less line 9 6 Add lines 1 through 5 <742,330 <742,330.> Schedule M-2 Analysis of Unappropriated Retained Earnings per Books (Line 25, Schedule L) 1 Balance at beginning of year 2 Net income (loss) per books 3 Other increases (itemize): <967,279 • >5 Distributions: a Cash b Stock c Property 6 Other decreases (itemize): <742,533 7 Add lines 5 and 6 >8 Balance at end of year (ine 4 less line 7) 4 Add lines 1. 2. and 3 <1,709,812. <1,709,812.> 711631 JWA 12.26-07 4 2007.07080 CORE CLUB MEMBERS CORPORATI Form 1 120 (2007) EFTA00604795 FOrm 4626 Depadrneril of the Tieatury Interns Revenue SoatvICO Name Alternative Minimum Tax - Corporations OP See separate instructions. ► Attach to the corporation's tax return. OMB No. 1535.0175 2007 CORE CLUB MEMBERS CORPORATION Ernp10,4101W1000000m^15,0 Note: See the instructions to find out if the corporation is a small corporation exempt from the alternative minimum tax (AMT) under section 55(e). 1 Taxable income or (loss) before net operating loss deduction 2 Adjustments and preferences: a Depreciation of post-1986 property b Amortization of certified pollution control facilities c Amortization of mining exploration and development costs d Amortization of circulation expenditures (personal holding companies only) e Adjusted gain or loss f Long-term contracts g Merchant marine capital construction funds Section 833(b) deduction (Blue Cross, Blue Shield, and similar type organizations only) I Tax shelter farm activities (personal service corporations only) J Passive activities (closely held corporations and personal service corporations only) k Loss imitations I Depletion m Tax-exempt interest income from specified private activity bonds n Intangible drilling costs o Other adjustments and preferences 3 Pre-adjustment alternative minimum taxable income (AMTI). Combine Ines 1 through 2o 4 Adjusted current earnings (ACE) adjustment a ACE from line 10 of the ACE worksheet in the instructions 4a b Subtract line 3 from line 4a. If line 3 exceeds line 4a, enter the difference as a negative amount (see instructions) c Multiply line 4b by 75% (.75). Enter the result as a positive amount d Enter the excess, if any, of the corporation's total increases in AMTI from prior year ACE adjustrneMs over its total reductions in AMTI from prior year ACE adjustments (see instructions). Note: You must enter an amount on line 4d (even if line 4b is positive) e ACE adjustment • If line 4b is zero or more, enter the amount from line 4c • If line 4b is less than zero, enter the smaller of line 4c or line 4d as a negative amount Je 5 Combine lines 3 and 4e. If zero or less, stop here; the corporation does not owe any NAT 6 Alternative tax net operating loss deduction (see instructions) STATEMENT 7 Alternative minimum taxable income. Subtract line 6 from line 5.1f the corporation held a residual interest in a REMIC, see instructions 8 Exemption phase-out (if line 7 is $310,000 or more, skip lines 8a and Bb and enter -0- on line 8c) a Subtract $150,000 from line 7 (if completing this line for a member of a controlled zero or group, see b Multiply line 8a by 25% (25) instructions). B less, enter -0- c Exemption. Subtract line 8b from $40,000 (if completing this ine fora member of a controlled group, see instructions). If zero or less, enter -0- 9 Subtract line 8c from line 7. If zero or less, enter -0- 10 Multiply line 9 by 20% (.20) 11 Alternative minimum tax foreign tax credit (AMTFTC) (see instructions) 12 Tentative minimum tax. Subtract line 11 from line 10 13 Regular tax liability before applying all credits except the foreign tax credit and the American Samoa economic development credit 14 Alternative minimum tax. Subtract line 13 from line 12.1f zero or less, enter -0-. Enter here and on Form 1120. Schedule J. line 3, or the appropriate line of the corporation's income tax return JWA For Paperwork Reduction Act Notice, see the instructions. <742,330. 1 <742,330.> 2a 2b 2c 2d 2e 2f 2g 2h 2i 2j 2k 21 2m 2n 2o 3 <742,330.> 0. 4b 4c 4d 4e 6 6 0. <742,330.> 7 8c 9 10 11 12 13 14 Form 4626 (2007) 717001 1J-27.07 5 2007.07080 CORE CLUB MEMBERS CORPORATI EFTA00604796 CORE CLUB MEMBERS CORPORATION Adjusted Current Earnings (ACE) Worksheet ► See ACE Worksheet Instructions. 1 Pre-adjustment AMTI. Enter the amount from line 3 of Form 4626 2 ACE depreciation adjustment: a AMT depreciation ACE depreciation: (1) Post-1993 properly (2) Post-1989, pre-1994 properly (3) Pre-1990 MACRS property (4) Pre-1990 original ACRS property (6) Property deserted in sections 168(f)(1) through (4) (6) Other property <742,330.> 2a 20(1) 2b(2) 2b(3) 2b(4) 2b(5) 20(6) (7) Total ACE depreciation. Add lines 2b(1) through 2b(6) c ACE depreciation adjustment. Subtract line 2b(7) from line 2a 3 Inclusion in ACE of items included in earnings and profits (E&P): a Tax-exempt interest income 3a b Death benefits from life insurance contracts c All other distributions from life insurance contracts (inducing surrenders) d Inside buildup of undistributed income in life insurance contracts e Other items (see Regulations sections 1.56(g)-1(c)(6)(iii) through (k) for a partial list) 3b 3c 3d 2b(7) 2c 3e f Total increase to ACE from inclusion in ACE of items included in E&P. Add fines 3a through 3e 4 Disallowance of items not deductible from E&P: a Certain dividends received 4a Dividends paid on certain preferred stock of public utilities that are deductible under section 247 c Dividends paid to an ESOP that are deductible under section 404(k) d Nonpatronage dividends that are paid and deductible under section 1382(c) e Other items (see Regulations sections 1.56(g)-1(d)(3Xi) and (ii) fora partial list) 3f 4b 4c 4d 4e f Total increase to ACE because of disallowance of items not deductible from E&P. Add lines 4a through 4e 5 Other adjustments based on rules for figuring E&P: a Intangible drilling costs 5a b Circulation expenditures c Organizational expenditures d LIFO inventory adjustments e Installment sales 4f 50 Sc ad ae f Total other E&P adjustments. Combine lines 5a through 5e 6 Disallowance of loss on exchange of debt pools 7 Acquisition expenses of life insurance companies for qualified foreign contracts 8 Depletion 9 Basis adjustments in determining gain or loss from sale or exchange of pre-1994 property 10 Adjusted current earnings. Combine tines 1, 2c, 3f, 4f, and 5f through 9. Enter the result here and on fine 4a of Form 4626 5f 6 7 8 9 10 <742,330.> 717071 12-28-07 6 2007.07080 CORE CLUB MEMBERS CORPORATI EFTA00604797 Form 4562 Department of the Treasury Internet Revenue Service Narnels)shann on return Depreciation and Amortization (Including Information on Listed Property) OTHER PPP See separate instructions. ► Attach to your tax return. OMB No. Mar.-0172 2007 At:Raw:ea Sequence No. 67 CORE CLUB MEMBERS CORPORATION NI CH Election To Expense Certain Property Under Section 179 Note: iff you have any listed property, complete Part V belore you complete Part I. Business or acbMly to which this tamreelee Identifying mantle OTHER DEPRECIATION 1 Maximum amount. See the instructions for a higher limit for certain businesses 2 Total cost of section 179 property placed in service (see instructions) 3 Threshold cost of section 179 property before reduction in limitation 4 Reduction in !irritation. Subtract line 3 from line 2. If zero or less, enter 6 5 6 (a)Description c4 popvty Oaths limitation tar lac yea. Subtract line 4 from line 1. II wear Int enter -0-. II married li inn separately. see Instructions 1 125,000. 500,000. 5 N) cost °Menem Lee only) (cl Elected cost 7 Listed property. Enter the amount from line 29 8 9 Total elected cost of section 179 property. Add amounts In column c), lines 6 and 7 Tentative deduction. Enter the smaller of line 5 or line 8 10 Carryover of disallowed deduction from line 13 of your 2006 Form 4562 11 Business income limitation. Enter the smaller of business income (not less than zero) or line 5 12 Section 179 expense deduction. Add lines 9 and 10, but do not enter more than line 11 13 Carryover of disallowed deduction to 2008. Add lines 9 and 10, less line 12 PP. 13 Note: Do not use Part ll or Part III below for listed property. Instead, use Part V. 9 10 11 12 Part III Special Depreciation Allowance and Other Depreciation (Do not include listed property.) 14 Special allowance for qualified New York Liberty or Gulf Opportunity Zone property (other than listed property) and cellulosic biomass ethanol plant property placed in service during the lax year 15 Property subject to section 168(f)(1) election 16 Other depreciation (including ACRS) Part III MACRS Depreciation (Do not include listed property.) (See instructions.) 14 15 16 Section A 17 MACRS deductions for assets placed in service in tax years beginning before 2007 17 I ►LJ 18 d you are decline to orcup any assets placed in servee during the tax year into one or more tenure asset accounts. check here Section B - Assets Placed in Service During 2007 Tax Year Using the General Depreciation System rat Classilloation of POPO'''. A) Month and Yea placed In webs (c) Babe for depreciation (Cosiness/ Investment tea only • sea Instructions) (dlRer ecwt" p iod BOCCOYCetrOn 9) Method (9) Delteleeti0n deli/COW 19a Syear property b 5-year property e 7year property d 10-year property e 15-year property I 20-year property g 25-year property 25 yrs. S/L h Residential rental property / 273 yrs. MM SL / 273 yrs. MM S/L I Nonresidential real property / 39 yrs. MM S/L / MM S/L Section C - Assets Placed in Service During 2007 Tax Year Using the Alternative Depreciation System 20a Class life S/L b 12-year 12 yrs. S/L c 40-year / 40 yrs. MM S/L Part IV I Summary (see instructions) 21 Listed property. Enter amount from line 28 22 Total. Add amounts from line 12, lines 14 through 17, Ones 19 and 20 In column (g). and One 21. Enter here and on the appropriate lines of your return. Partnerships and S corporations • see Instr. 23 For assets shown above and placed in service during the current year. enter the portion of the basis attributable to section 263A costs , I 1 1.32D .03-07 LHA For Paperwork Reduction Act Notice, see separate instructions. 7 2007.07080 CORE CLUB MEMBERS 23 21 22 CORPORATI Form 4562 (2007) EFTA00604798 Form 4562 (2007) CORE CLUB MEMBERS CORPORATION Page 2 Part V Listed Property (include automobiles, certain other vehicles, cellular telephones, certain computers, and property used for entertainment, recreation, or amusement.) Note: For any vehicle for which you are using the standard mileage rate or deducting lease expense, complete only 24a, 24b. columns (a) throuqh (c) of Section A. all of Section B, and Section Cif applicable. Section A - Depreciation and Other Information (Caution: See the instructions for limits for passenger automobiles.) 24a Do you have evidence to support the bu inessAnvestment use claimed? Yes No 24b If 'yes," is the evidence written? Yes No (a) (b) (c) (d) CI) (0 (9) (h) (I) Type of property (list vehicles first) Date placed Business/ Cost or in investment ibushee rfinvestment other basis Bases lor depreciation Recovery period Method/ Convention Depreciation deduction Elected section 179 service use percentage tire ran cost 25 Special allowance for qualified Gulf Opportunity Zone property placed in service during the tax year and used more than 50% in a qualified business use 25 26 Property used more than 50% in a qualified business use: 27 Property used 50% or less in a qualified business use: S/L • S/L • S/L • 96 28 Add amounts in column (h), lines 25 through 27. Enter here and on line 21, page 1 29 Add amounts in column (), line 26. Enter here and on line 7. page 1 Section B Information on Use of Vehicles Complete this section for vehicles used by a sole proprietor, partner, or other 'more than 5% owner." or related person. If you provided vehicles to your employees. first answer the questions in Section C to see if you meet an exception to completing this section for those vehicles. 30 Total business/investment miles driven during the year (do not include commuting miles) 31 Total commuting miles driven during the year , 32 Total other personal (noncommuting) miles driven 33 Total miles driven during the year. Add lines 30 through 32 34 Was the vehicle available for personal use during off-duty hours? 35 Was the vehicle used primarily by a more than 5% owner or related person? 36 Is another vehicle available for personal use? la) vehicle (b) Vehicle (e) Vehicle (d) Vehicle. fa) Vehicle ill Vehicle Yes No Yes No Yes No Yes No Yes No Yes No Section C - Questions for Employers Who Provide Vehicles for Use by Their Employees Answer these questions to determine if you meet an exception to completing Section B for vehicles used by employees who are not more than 5% owners or related persons. 37 Do you maintain a written policy statement that prohibits all personal use of vehicles, including commuting, by your employees? 38 Do you maintain a written policy statement that prohibits personal use of vehicles, except commuting, by your employees? See the instructions for vehicles used by corporate officers, directors, or 1% or more owners 39 Do you treat all use of vehicles by employees as personal use? 40 Do you provide more than five vehicles to your employees, obtain information from your employees about the use of the vehicles, and retain the information received? 41 Do you meet the requirements concerning qualified automobile demonstration use? Note: if our answer to 37, 38, 39, 40, or 41 is 'Yes, • do not complete Section B for the covered vehicles Part In Amortization (a) (b) (c) (d) lc) 0 Desciption of costs Wx atleill23140 limcctiuble Code Arnortizatean begird amount mCken pen0Ocioucrl.. , lor 'Ns year 42 Amortization of costs that begins during your 2007 tax year. LIQUOR LICENSE RELATED ASSET 43 Amortization of costs that began before your 2007 tax year 44 Total. Add amounts in column (Q. See the instructions for where to report 29 Yes No 061507 1,590. 180m 62. 43 128. 190. 716252/1143.01 8 2007.07080 CORE CLUB MEMBERS CORPORATI Form 4562 (2007) EFTA00604799 ELECTION TO WAIVE THE NET OPERATING LOSS CARRYBACK PERIOD CORE CLUB MEMBERS CORPORATION EMPLOYER IDENTIFICATION NUMBER: FOR THE YEAR ENDING DECEMBER 31, 2007 CORE CLUB MEMBERS CORPORATION HEREBY ELECTS, PURSUANT TO SEC. 172(B)(3) OF THE INTERNAL REVENUE CODE, TO RELINQUISH THE ENTIRE CARRYBACK PERIOD WITH RESPECT TO THE NET OPERATING LOSS INCURRED FOR THE TAX YEAR ENDED DECEMBER 31, 2007, AND WILL HAVE SUCH LOSS AVAILABLE FOR CARRYFORWARD ONLY. EFTA00604800 CORE CLUB MEMBERS CORPORATION FORM 1120 TAXES AND LICENSES STATEMENT 1 DESCRIPTION AMOUNT NEW YORK TAXES - BASED ON INCOME 400. TOTAL TO FORM 1120, LINE 17 400. FORM 1120 OTHER DEDUCTIONS STATEMENT 2 DESCRIPTION AMOUNT AMORTIZATION 190. NON CORE CLUB REVENUES 838,066. TOTAL TO FORM 1120, LINE 26 838,256. NET OPERATING LOSS DEDUCTION STATEMENT 3 TAX YEAR LOSS SUSTAINED LOSS PREVIOUSLY LOSS AVAILABLE APPLIED REMAINING THIS YEAR 12/31/06 954,780. 954,780. 954,780. NOL AVAILABLE THIS YEAR 954,780. 954,780. 10 STATEMENTS 1 2 3 2007.07080 CORE CLUB MEMBERS CORPORATI EFTA00604801 CORE CLUB MEMBERS CORPORATION OTHER INFORMATION 50% OR MORE OF VOTING STOCKS OWNED BY STATEMENT 4 (A) NAME ADDRESS IDENTIFYING NUMBER (B) PERCENT OF STOCK JENNIE SAUNDERS 100.00% SCHEDULE L OTHER CURRENT LIABILITIES STATEMENT 5 DESCRIPTION ACCRUED EXPENSES - SALES TAX TOTAL TO SCHEDULE L, LINE 18 BEGINNING OF END OF TAX TAX YEAR YEAR 28,004. 31,630. 28,004. 31,630. SCHEDULE L OTHER LIABILITIES STATEMENT 6 DESCRIPTION DUE TO CORE CLUB 55TH STREET TOTAL TO SCHEDULE L, LINE 21 BEGINNING OF END OF TAX TAX YEAR YEAR 990,851. 1,802,384. 990,851. 1,802,384. SCHEDULE M-1 OTHER EXPENSES RECORDED ON BOOKS STATEMENT 7 NOT DEDUCTED IN THIS RETURN DESCRIPTION AMOUNT AMORTIZATION 203. TOTAL TO SCHEDULE M-1, LINE 5 203. 11 STATEMENT(S) 2007.07080 CORE CLUB MEMBERS CORPORATI IIIIIIII EFTA00604802 CORE CLUB MEMBERS CORPORATION FORM 4626 ALTERNATIVE MINIMUM TAX NOL DEDUCTION STATEMENT 8 TAX YEAR LOSS SUSTAINED LOSS PREVIOUSLY LOSS APPLIED REMAINING 12/31/06 954,774. 954,774. AMT NOL CARRYOVER AVAILABLE THIS YEAR 954,774. 12 STATEMENT S 8 2007.07080 CORE CLUB MEMBERS CORPORATI EFTA00604803 2007 DEPRECIATION AND AMORTIZATION REPORT - CURRENT YEAR FEDERAL - CORE CLUB MEMBERS CORPORATION AAS4I No. Description Date A quir d Method Life tiro No. Unadjusted Cost Or Basis Bus % Excl Reduction In Basis Basis For Depreciation Accumulated Depreciation Current Sec 179 Current Year Deduction 1START UP COSTS 07170 180M 43 1,925. 1,925. 221. 128. LIQUOR LICENSE RELATED 7ASSET 06150 180M 42 1,590. 1,590. 62. * TOTAL OTHER DEPRECIATION & AMORT 3,515. 3,515. 221. 190. CURRENT YEAR ACTIVITY BEGINNING BALANCE 1,925. 0. 1,925. 221. ACQUISITIONS 1,590. 0. 1,590. 0. DISPOSITIONS 0. 0. 0. 0. ENDING BALANCE 3,515. 0. 3,515. 221. 728102 04.27-O7 (D) Asse disposed • ITC. Section 179. Salvage. Bonu . Commercial Revitalization Deduction. GO Zone EFTA00604804 2008 DEPRECIATION AND AMORTIZATION REPORT - NEXT YEAR FEDERAL - CORE CLUB MEMBERS CORPORATION ti x.4.0 No. Description Date Acquired Method Life Unadjusted Cost Or Basis Reduction In Basis Basis For Depreciation Accumulated Depreciation Amount Of Depreciation 1START UP COSTS 071705 180M 1,925. 1,925. 349. 128. 7LIQUOR LICENSE RELATED ASSET 061507 180M 1,590. 1,590. 62. 106. * TOTAL OTHER DEPRECIATION & AMORT 3,515. 3,515. 411. 234. AMT DEPRECIATION 0. 0. 0. 0. ACE DEPRECIATION 0. 0. 0. 0. 728103 4.27.07 ID) • As et disposed • ITC. Section 179. Salvage. HR 3O90. Commercial Revitalization Deduction. GO Zone EFTA00604805 2007 TAX RETURN FILING INSTRUCTIONS NEW YORK FORM CT-4 FOR THE YEAR ENDING DECEMBER 31, 2007 Prepared for CORE CLUB MEMBERS CORPORATION Prepared by J .H. COHN LLP To be signed and dated by THE APPROPRIATE CORPORATE OFFICER ( S ) . Amount of tax Total tax $ 100.00 Less: payments and credits $ 100.00 Plus: interest and penalties $ 0.00 NO PMT REQUIRED $ Overpayment Credited to your estimated tax $ 0.00 Returickd to you $ 0.00 Make check payable to NOT APPLICABLE Mail tax return and check (if applicable) to NYS CORPORATION TAX PROCESSING UNIT P.O. BOX 22101 ALBANY, NY 12201-2101 Return m bat be mailed on or before PLEASE SIGN AND MAIL AS SOON AS POSSIBLE. Special Instructions EFTA00604806 CT-4 Staple kerns here New York State Department of Taxation and Finance 2007 General Business Corporation Franchise Tax Return Short Form Tax Law - Article 9-A Final return I Amended return I We page 5 a the enstrucbons) Errployer l0onteication number File number BtennOSS telephone number I IN All filers must enter tax period: beginning I 01 - 01 - 07 ending I 12-31-07 N you clelm an overpayment. meet an tin me box Legal name a c0rporellon CORE CLUB MEMBERS CORPORATION Pada narre/DBA Iblirq amt l6 dilatant/ell NCI Mal attrel Stale a county of InOX0Ceall0n Dale received sot Tax Dept use 0nbl do Number and steel a PO box Dale of Mcorporegan 12-06-04 Coy State weeds Foreign corporalicns: dale began business in NYS NAICS business code number (from federal return) II address above CI,our mmtimpbyeridtailkaaen motet. aldag.or owerelloatinlorrmws Ne Audi Pa Tax Depl use only) is new. mark an ;Neoax/a mutt IN Cow OTC.N5 only you akkeds has teamedyin mile )(In !hobos I F0SID7F-96 You can gd Ibisclams ton otr stk.byhxof by Mont Sae Mud ra7 in ftelialrutlbtt Pmcipal business actreIlY PRIVATE MEMBERS CLUB See Form Cf3/4.1, Instructions for Forms CT-4. CT-3. and CT-3-ATT. before completing this return. Metropolitan transportation business tax (MTA surcharge) During the tax year did you do business, employ capital, own or lease property, or maintain an office in the Metropolitan Commuter Transportation District (MCTD)? If Yes, you must file Form CT.3M/4M. The MCTD includes the counties of New York, Bronx. Kings, Queens, Richmond, Dutchess, Nassau, Orange, Putnam, Rockland, Suffolk, and Westchester. (mark an X in the appropriate box) Yes . X No A. Pay amount shown on line 45. Make check payable to: New York State Corporation Tax Payment enclosed *Attach your payment here. Detach all check stubs. (See instructions for details.) A. B. Federal return filed (you must mark an X in one): Attach a complete copy of your federal return. Form 1120 • X Form 1120•A • Form 1120S • Consolidated basis • Form 11204t I Other • C. If you included a qualified subchapter S subsidiary (QSSS) in this return, mark an X in the box and attach Form CP30 D. Mark an X in the box only if you need a tax packet mailed to you next year (see instructions) E. Did the entity have an interest in real property located in New York State during the last 3 years? (mark an X in the appropriate box) Yes • No • X F. Has there been a transfer or acquisition of controlling interest in the entity during the last 3 years? (mark an X in the appropriate box) Yes • No • X (continued) 760101 10.15-07 1019 EFTA00604807 Page 2 of 4 CT-4(2007) CORE CLUB MEMBERS CORPORATION Computation of entire net income (ENI) base (see instructions) 1 Federal taxable income (FM) before net operating loss (NOL) and special deductions • 1. 2 Interest on federal, state, municipal and other obligations not included on line 1(see instr) • 2. 3 Interest paid to a cap stockholder owning more than 50% of issued and outstanding stock • 3. 4 New York State and other state and local taxes deducted on your federal return (see instr) • 4. 5 Federal depreciation from Form CTS99, if applicable (see instructions) et 6 Add lines 1 through 5 et 7 New York net operating loss deduction (NOLD)(att fed and NY State computations) • 7. 8 Allowable New York depreciation from Form CT-399, if applicable (see instructions) et 9 Refund or credit of certain taxes (see instructions) et 10 Total subtractions (add lines 7 through 9) • 10. 11 ENI base (subtract line 10 from line 6; show loss with a minus (4 sign; enter here and on in 21) • 11. 12 ENI base tax (multiply Me 11 by the appropriate rate from the Tax rates schedule on page 6 of Form CT,3/44; enter here and on line 28) • 12. Computation of capital base (enter whole dollars for lines 13 through 18: see instrUCti0110 - 742,330. 400. - 741,930. 0. - 741,930. 0. A Beginning of year B End of year C Average value 13 Total assets from federal return • 51,576. • 124,202. • 87,889. 14 Real property and marketable securities included on line 13 • 15 Subtract line 14 from line 13 51,576. 124,202. • 87,889. 16 Real property and marketable securities at fair market value • 17 Adjusted total assets (add lines 15 and 18) 51,576. 124,202. • 87,889. 18 Total liabilities 1,018,855. 1,834,014. • 1,426,435. 19 Capital base (subtract line 18, column C, from line 17. column C) • 19. -1,338,546. 20 Capital base tax (see instructions) 16 20. Computation of minimum taxable income (MTI) base 21 ENI base from line 11 21. -741,930. 22 Depreciation of tangible property placed in service after 1986 (see instructions) • 22. 23 New York NOLD from line 7 • 23. 0. 24 Total (add lines 21 through 23) 24. -741,930. 25 Alternative net operating loss deduction (ANOLD) (see Instructions) *25. 0. 26 MTI base (subtract line 25 from line 24) *26. -741,930. 27 Tax on MTI base (multiply Me 26 by 1.5% (.015): see Instructions) • 27. 0. (continued) 76 02 1089.15-07 1019 EFTA00604808 CT-4 (2007) Page 3 of 4 J CORE CLUB MEMBERS CORPORATION Computation of tax 28Tax on ENI base from line 12 • 28. 29 Tax on capital base from line 20 (see Instructions) New small business: First year • Second year • • 29. 30 Fixed dollar minimum tax (See Table 7 in the Tax rates schedule on page 6 of Form CT-3/44. You must enter an amount on each of lines 31, 32, and 33; see instructions) • 30. 31 Gross payroll everywhere (see instructions) • 31. 0 . 32Total receipts everywhere (see instructions) • at 4,767,054. 33Average value of gross assets everywhere (see Instructions) • 33. 87,889. 0 . 100. 34 Tax due (amount from Me 27, 28, 29, or 30, whichever is largest; see instructions for exception) 134. 100. First installment of estimated tax for next period: 35a If you filed a request for extension, enter amount from Form lie 2 • 35a. 35b If you did not file Form CTS and line 34 is over $1,000, enter 25% (.25) of line 34 35b. 36Add line 34 and line 35a or 35b 36. 37Total prepayments from line 56 • 37. 38 Balance (subtract line 37 from line 36; if line 371s more than Me 36, enter 0) 38. 39 Penalty for underpayment of estimated tax (mark an X In the box It Fam CT-222 Is oltanne• e • 39. 40 Interest on late payment (see instructions) • 40. 41 Late fang and late payment penalties (see instructions) • 41. 42 Balance (add Nnes 38 through 41) 42. Voluntary gifts/contributions (see instructions): 43a Amount for Return a Gift to Wildlife I 43a. 43bAmount for Breast Cancer Research and Education Fund 43b. 43cAmt for Prostate Cancer Research. Detection. and Education Fund I 43e. 43d Amount for World Trade Center Memorial Foundation Fund • 43d. 44Total (add lines 36, 39, 40, 41, and 43a through 43d) 44. 45 Balance due if line 37 is less than line 44, subtract line 37 from line 44 and enter here. This is the amount due; enter the payment amount on line A on page 1) I 45. 46 Overpayment (if line 37 is more than line 44, subtract line 44 from Me 37. This is your overpayment; enter here and see instructions) 46. 47Amount of overpayment to be credited to next period I 47. 48 Balance of overpayment (subtract line 47 from line 46) • 48. 49Amount of overpayment to be credited to Form CT3M/4M • 49. 50 Refund of overpayment (subtract line 49 from line 48) I 50. Composition of prepayments on line 37 Date paid Amount 51 Mandatory first installment 51. 52a Second installment from Form CT400 52a. 52bThird installment from Form CT400 521). 52c Fourth installment from Form CT400 520. 53 Payment with extension request from Form CM, line 5 58. 540verpayment credited from prior years ParbO 54. 550verpayment credited from Form CF3M/4M Period 55. 56 Total prepayments (add lines 51 through 55; enter here and on line 37) W. 7689W 1•30-07 1019 0. 100. 100. 0. 0. 100. 0. 100. (continued) EFTA00604809 Page 4 of 4 CT-4 (2007) Interest paid to shareholders 67 Did this corporation make any payments treated as interest in the computation of ENI to shareholders owning directly or indirectly, individually or in the aggregate, more than 50% of the corporation's issued and outstanding capital stock? (mark an X in the appropriate box) If Yes. complete the following and Ines 58 through 61 (attach additional sheets, if necessary) 57. Yes • No • X Stareholaa's name S.SN a EDI 58 Interest paid to shareholder • 68. 59 Total indebtedness to shareholder described above 69. 60 Total interest paid • GO. 61 Is there written evidence of the indebtedness? (mark an X in the appropriate box) 61. Yes • No • Corporations organized outside New York State only Capital stock issued and outstanding: Value 62 Number of par shares Value 63 Number of nopar shares 64 Total receipts entered on your federal return • 64. 4,767,054. 65 Interest deducted in computing Fll (see instructions) • et 66 Depreciable assets and land entered on your federal return • 66. 67 If the Internal Revenue Service (IRS) has completed an audit of any of your returns within the last five years, list years: 68 If you are a member of an affiliated federal group, enter primary corporation name and EIN: Name • • 69 If you are more than 50% owned by another corporation, enter parent corporation name and EIN: Name EIN • • 70 Are you claiming small business taxpayer status for lower ENI tax rates? (see Small business taxpayer definition on page 9 of Form CT-3/4-l; mark an X in the appropriate box) 70. Yes • X No • 71 If you marked Yes on line 70, enter total capital contributions (see worksheet in instructions) • 71. 72 Are you claiming manufacturer status for lower capital base tax limitation? (see Instructions; mark an X in the appropriate box) 72. Yes • No X 73 For tax years beginning on or after January 31, 2007, are you claiming qualified New York manufacturer status for lower ENI tax rates? (see instructions; mark an X in the appropriate box) 73. Yes • No Third - Do you want to allow another person to discuss this return with the Tax Dept? (see instr) Yes X (complete the lollooloal No party Designee's name Des nee's hone number Personal identification designee PREPARER number (PIN) Certification: I certify that this return and any attachments are to the best of my knowledge and belief true, correct. and complete. Spelt,* of authaired pawn Official titb Date Signature of indialial plowing this return Is no 00 Firm's name ler yours if selfornployedl J.H. COHN LLP IFIZa /IP rasa See instructions for where to file. IIMMM I• 768904 30.07 1019 I Data EFTA00604810 CORE CLUB MEMBERS CORPORATION NY NET OPERATING LOSS DEDUCTION STATEMENT 1 TAX YEAR LOSS SUSTAINED LOSS PREVIOUSLY LOSS APPLIED REMAINING 12/31/06 954,380. 0. 954,380. NOL CARRYOVER AVAILABLE THIS YEAR 954,380. CURRENT YEAR LOSS 741,930. NOL CARRYOVER TO NEXT YEAR 1,696,310. NY ALTERNATIVE NET OPERATING LOSS DEDUCTION STATEMENT 2 TAX YEAR LOSS SUSTAINED LOSS PREVIOUSLY LOSS APPLIED REMAINING 12/31/06 954,374. 0. 954,374. ALTERNATIVE NOL CARRYOVER AVAILABLE 954,374. CURRENT YEAR LOSS 741,930. ALTERNATIVE NOL CARRYOVER TO NEXT YEAR 1,696,304. STATEMENT(S) 1, 2 EFTA00604811 2007 TAX RETURN FILING INSTRUCTIONS NEW YORK CITY FORM NYC-4S FOR THE YEAR ENDING DECEMBER 31, 2007 Prepared for CORE CLUB MEMBERS CORPORATION Prepared by J .H. COHN LLP To be signed and dated by THE APPROPRIATE CORPORATE OFFICER ( S ) . Amount of tax Total tax $ 300.00 Less: payments and credits $ 300.00 Plus: interest and penalties $ 0.00 NO PMT REQUIRED $ Overpayment Credited to your estimated tax $ 0.00 Retmded to you $ 0.00 Make check payable to NOT APPLICABLE Mail tax return and check (if applicable) to NYC DEPARTMENT OF FINANCE PO BOX 5060 KINGSTON, NY 12402-5060 Return must be mailed on or before PLEASE SIGN AND MAIL AS SOON AS POSSIBLE. Special Instructions EFTA00604812 SCHEDULE A I Computation of Tax IBEGINWITNSCHEDULESBTHROUGHEONPG2.TRANSFERAPPLICABLEAMOUNTSTOSCHA A. Payment Pay amount shown on line 15 • Make check payable to: NYC Department of Finance • 1. 2a. 2b. 2c. 3a. Compensation of stockholders (from Schedule D, Une 1) • 3a. 3b. Alternative tax (see instructions) • 3b. 4. Minimum tax • No reduction is permitted for a period of less than 12 months 4. 5. Tax (line 1, 2a, 2b, 3b or 4, whichever is largest) • 5. 6. First installment of estimated tax for period following that covered by this return: (a) If application for extension has been filed, enter amount from one 4 of Form NYC-6 • (b) If application for extension has not been filed and line 5 exceeds 51.000. enter 25% of line 5 • 7. Total before prepayments (add lines 5 and 6a or 6b) • 8. Prepayments (from Prepayments Schedule, line F) • 9. Balance due (line 7 less line 8) • 10. Overpayment (line 8 less line 7) • 11a. Interest 112. 11b. Additional charges 110. I lc. Penalty for underpayment of estimated tax (attach Fon NYC-222) • Ile. 12. Total of lines 11a, 11b and 11c • 12. 13. Net overpayment (line 10 less line 12) • 13. 14. Amount of line 13 to be: (a) Refunded • 14a. (b) Credited to 2008 estimated tax • 14b. 15. TOTAL REMITTANCE DUE (see instructions) Enter payment amount on line A above • 15. 16. NYC rent deducted on federal return. THIS LINE MUST BE COMPLETED • 16. 17. Federal return filed: • X WO • imis 18. Gross receipts or sales from federal return 19. Total assets from federal return FINANCE NEW • YORK nit CITY OF IEW TOR< DEPARTMENT OP RMAXCE ANANNForce NYC 4S GENERAL CORPORATION TAX RETURN • Check box if a pro-forma federal return attached. • Check box if you claim any 9/11/01-related federal tax benefits (see in t.) Final return Check box it the cceporatien • Amended return • hes ceased operations. For CALENDAR YEAR 2007 or FISCAL YEAR beginning 2007 and ending Name CORE CLUB MEMBERS CORPORATION Address number and street Cr:v and Sta:e I. Code Business Telephone Number Date bus ness began in NYC 12-06-2004 A WINDT WRITE IN INISSPACE FON OFFICUL USE ONLY A • Special short period retum (See inst.) • Check box it you we rang — a 52-57-weds taxable year EMPLOYER IDENTIFICATION NUMBER BUSINESS CODE N PER FEDERAL RETURN Net income (from Schedule B. line 8) • 1. -741930. X .0885 Total capital from Schedule C. line 7) • 2a. -1338546. X.0015 Total capital • Cooperative Housing Corps. • 2b. X.0004 Freor" 680B0 lace( t -o, Payment Enclosed • 1. • 2a. • 2b. 6a. 6b. 7. 8. 9. 10. 300. 300. 300. 300. 400000. • I 12:f • 18. • 19. 4767054. 124202. CERTIFICATION OF AN ELECTED OFFICER OF THE CORPORATION I hereby eerily Mat this Upturn. including any accompanying rest. 4. to the test 01 my knowledge and bale,. me. correct I outiOrliti the Dept. of to citecusstres return M paperer with the pap listed Colow. (see Instructions) SION HERE Cr Saran" or °M c. Title and commove. YES Date X P ODOM'S SOON NOCulty NurnbOr Or PTIN PREPARERS Preparw's USE D erratum Prey/sees printed nacre Check it sell- employed Date Olmirs Employer IdentINCObOn Mum::,: • ONLY J.H. COHN LLP A Fans ',AMR ire 'ctn. tl :;o1" Attach copy of all pages of your federal tax return or pro forma federal tax return. tplmrra A AOCVOSS 794761 11-79 07 30410705 Make remittance payable to the order of NYC DEPARTMENT OF FINANCE Payment must be made in U.S. dollars, drawn on a U.S. bank ATTACH REMITTANCE TO THIS PAGE ONLY To receive proper credit, you must enter your correct Employer Identification Number on your tax return and remittance. SYC-4.6 - 2077 1 2007.07080 CORE CLUB MEMBERS CORPORATI EFTA00604813 Form NYC-4S - 2007 NAME CORE CLUB MEMBERS CORPORATIO EIN SCHEDULE B Computation of NYC Taxable Net Income I 1. Federal taxable income before net operating loss deduction and special deductions 1. 2. Interest on federal, state, municipal and other obligations not included in line 1 2. 3a. NYS Franchise Tax and other income taxes, including MTA surcharge, deducted on federal return 9a. 3b. NYC General Corporation Tax deducted on federal return 9b. 4. ACRS depreciation and/or adjustment (attach Form NYC-399 and/or NYC-3992) (see Instr.) 4. 5. Total (sum of lines 1 through 4) 6a. New York City net operating loss deduction STATEMENT 2 6a. 6b. Depreciation and/or adjustment calculated under pre-ACRS or pre- 9/11/0 f rules (attach Form NYC-399 and/or NYC-399Z)(see Instr.) ob. 6c. NYC and NYS tax refunds included in Schedule 8, Nne 1 Bo. 7. Total (sum of lines 6a through 6c) 8. Taxable net income (line 5 less line 7) (enter on page 1. Schedule A, line 1) SCHEDULE C Basis used to determine average value in column C. Check one. (Attach detailed schedule) X - Annually -Semi-annually - Quarterly Total Capital - Monthly - Weekly - Daily 1. Total assets from federal return 1. 2. Real property and marketable securities included in fine 1 2. 3. Subtract line 2 from line 1 3. 4. Real property and marketable securities at fair market value 4. 5. Adjusted total assets (add Nnes 3 and 4) 5. 6. Total liabilities 6. 7. Total capital (column C. line 5 less column C, line 6) (enter on page 1, Schedule A. Me 2a or 2b) SCHEDULE D Include all stockholders owning in excess of 5% of taxpayers issued capital stock who received any compensation, including commissions. • Page 2 - 742330. 400. - 741930. 0. S CORPORATIONS see Instructions for toe 1 7. 8. Certain Stockholders - 741930. COLUMN A Beginning of Year COLUMN B End of Year COLUMN C Average Value 51576. 124202. 87889. 51576. 124202. 87889. 51576. 124202. 87889. 1018855. 1834014. 1426435. 7. -1338546. Name and Address - Give actual residence (Attach rider If necessary) Social Security Number Official Title Salary & All Other Compensation Received from Corporation (If none. enter 17) SEE STATEMENT 1 1. Total. including any amount on rider (enter on page 1. Schedule A. line 3a) i. SCHEDULE E The following information must be entered for this return to be complete. 1. New York City principal business activity PRIVATE MEMBERS CLUB 2. Does the corporation have an interest in real property located in New York City? YES NO X 3. If 'YES': (a)Attach a schedule of such property, including street address, borough, block and lot number. (b)Was a controlling economic interest in this corporation (Ie. 50% or more of stock ownership) transferred during the tax year? YES NO 4. Does the corporation have one or more qualified subchapter s subsidiaries (OSSS)? YES NO X If 'YES', attach a schedule showing the name, address and EIN, it any, of each OSSS and indicate whether the OSSS filed or was required to file a City business income tax return. COMPOSITION OF PREPAYMENTS SCHEDULE PREPAYMENTS CLAIMED ON SCHEDULE A. LINE 8 DATE AMOUNT A. Mandatory first installment paid with preceding year's tax B. Payment with Declaration. Form NYC•400 (1) C. Payment with Notice of Estimated Tax Due, (2) Payment with Notice of Estimated Tax Cue (3) D. Payment with extension, Form NYC-6 or NYC-BF E. Overpayment from preceding year credited to this year F. TOTAL of A. B. C. D. E (enter on Schedule A. line 8) 300. MAILING INSTRUCTIONS: RETURNS WITH REMITTANCES NYC DEPARTMENT OF FINANCE PO BOX 5040 KINGSTON, NY 12402-5040 RETURNS CLAIMING REFUNDS NYC DEPARTMENT CF FINANCE PO BOX 5050 KINGSTON, NY 12402-5050 ALL OTHER RETURNS NYC 0 PARTMENT OF FINANCE ,61, PO BOX 5060 KINGSTON, NY 12402-5060 30420705 794762 The due date for the minder year 2007 return is on or before March 17. 2008. 11.29.07 For areal years beginnho in 2007. File on 215th day or the third month alto the close of fiscal year. 2007.07080 CORE CLUB MEMBERS CORPORATI EFTA00604814 CORE CLUB MEMBERS CORPORATION FORM NYC-3L/4S SCHEDULE OF STOCKHOLDERS WITH STATEMENT 1 AGGREGATE OWNERSHIP GREATER THAN FIVE PERCENT NAME AND ADDRESS SALARY & OTH SOC. SEC. # TITLE COMPENSATION JENNIE SAUNDERS 0. TOTAL TO FORM NYC-3L OR NYC-4S 0. NYC NET OPERATING LOSS DEDUCTION STATEMENT 2 TAX YEAR LOSS SUSTAINED LOSS PREVIOUSLY LOSS APPLIED REMAINING 12-31-06 954,380. 0. 954,380. NOL CARRYOVER AVAILABLE THIS YEAR 954,380. CURRENT YEAR LOSS 741,930. NOL CARRYOVER TO NEXT YEAR 1,696,310. 3 STATEMENT S 1 2 2007.07080 CORE CLUB MEMBERS CORPORATI EFTA00604815