2022 MASTER ANNUAL REPORT

Annual Report March 2021 —March 2022

A year in transition...

Table Of Contents

PAGE

 President’s Message

1 — 2

 Retiring Board Member

2

 2021/2022 Board of Governors

3

 Membership Report

4

 Executive Director’s Message

5

 Lifestyle and Amenities

6 — 7

 Reports — Ad Hoc Committees

8 — 10

 Reports — Standing Committees

11 — 20

 Reports — Charity Committees

21 — 23

 Community Club Reports

24

 Audit Committee Report

25

 Audited Financial Report April 30, 2021

26 — 48

Report Purpose and Distribution Th e purpose of this Annual Report is to provide an overview of the financial position and operations of Frenchman ’ s Creek, Inc., and a report by each Standing Committee as well as other information of interest. Hard copies of the Annual Report can be obtained at the POA Office (561) 627 - 1467. For an individual copy of the Audited Financial Report—April 30, 2021, please contact the Accounting Department at (561) 868 - 6382. Both Reports can be obtained on the website at www.frenchmanscreek.com.

President ’ s Message Year - in - Review / Board Goals

1B. New General Manager. (New goal - Achieved)

As we come to the end of our 2021/2022 community season, I would like to review with you this past year at Frenchman ’ s Creek. The two - year long pandemic restrictions have been substantially loosened and we as a community are back to our normal activities, which has been wonderful. A New Clubhouse Plan has been developed and approved and is moving forward with an estimated completion date of December 2024. A comprehensive Alternative Facilities plan has been de- veloped to provide Members and staff alternative loca- tions during the construction of our New Clubhouse, with the final pieces of this plan expected to be imple- mented by June 30 th . A highly accomplished new Gen- eral Manager, Miles Tucker, has been hired and will start on April 9 th , stepping into the shoes of our much respected, long term General Manager, Achal Gos- wami. And most of our other Board Goals have been achieved. This has been a very busy year at French- man ’ s! Back in March 2021, in the beginning of our current Board year, my first report to the Community as Presi- dent outlined our Board Goals for the coming year. I am happy to report that we have accomplished a lot in one year ’ s time: (Achieved & Ongoing) While our original Board goal was to complete a beau- tiful renovation on time and on budget, over the sum- mer, as early demolition began, we learned the build- ing had more extensive structural and mold issues that would be very expensive to fix. We, as a Board and as a community, and with the help of our professionals, pivoted to developing and vetting a re - imagined New Clubhouse plan, which was presented to the Member- ship and received substantial support (75% of the vot- ing households approved the New Clubhouse plan). Our dedicated Clubhouse committee meets for several hours each week with our professionals and reports to the Board (and the community) monthly on the pro- gress. At this point, everything is moving forward as planned. 1A. Clubhouse Project.

When this Board year began, we did not know that Achal would be retiring this year at the end of his con- tract. After a very successful search process, Miles Tucker (the current General Manager of Hillcrest Country Club in Los Angeles) was unanimously cho- sen by both the Search Committee and the Board. We believe that Miles will be able to build on all that is great about Frenchman ’ s Creek and lead us forward to even greater successes. The Board, Management, and Members all view maintaining Member Services during the construction process as critically important. In late August, as it became clear that we would need temporary facilities earlier and longer than originally planned, the Board approved the funding of a complete alternative facili- ties plan (vs. using parts of the fitness center as our temporary facilities). An incredible amount of work has been put into this and we expect all the facilities to be up and running by June 30 th . This year we explored new and old ways to bring our new and existing Members together, getting us back to the highly social Frenchman ’ s culture. This has been a great success with help from our LINK Com- mittee (formerly known as the New Member Rela- tions Committee), our Entertainment Committee and our Food & Beverage, Golf, Tennis and Fitness Com- mittees and staff departments. The numerous sched- uled events and activities were well attended. Thank you to all the Staff and Committee members who made these events happen! We look forward to con- tinuing these efforts in the 2022/2023 season. 2. Member Services During Construction. (In progress) 3. Bringing our Community Together. (Achieved & Ongoing)

Continues on Page 2

2021/2022 Annual Report Page 13

4. Increased Transparency. (Achieved & Ongoing)

6. Highly Functioning Board. (Achieved)

Transparency has been increased between the Board and Members via Zoom and recording all Board meetings, reinstituting the monthly “ Meet the Presi- dent ” forums, and my sharing of “ Communications from Members ” before each Board meeting. In addi- tion, the Marketing and Communications Committee has worked with the Marketing Department to devel- op the morning Club Communications email, which provides daily information on all the happenings here at the Creek. An improved website and Mem- ber app are planned for this next year. We increased the visibility and impact of our mem- ber committees through highlights at Board meetings and multiple “ Meet the President ” forums. Our com- munity is enhanced by the work of all of our com- mittees. Thank you to everyone who served on a committee and to all staff members who supported these committees! One area where we fell short was in creating member surveys to give management and the Board a broader view of what Members would like on various aspects of our daily life here at Frenchman ’ s Creek. Something for us to work on in this next Board year. 5. Elevate the Work of the Committees. (Achieved & Ongoing)

We worked together cohesively as a Board on the many different topics and projects at Frenchman ’ s Creek this year. A big thank you to every Board Member!

7. Strategic Plan.

(Yet To Be Achieved) We had planned to begin the process of creating an updated strategic plan for our community, with a base of our Long - Term Projects Plan and with the help of Member surveys. However, given the pivot that was needed to move to a new Clubhouse (vs. the originally planned renovation) and the need to hire a new Gen- eral Manager, starting our strategic plan was put on pause in this last year. So all - in - all a good year. I would like to thank the Board of Governors and the Membership for allowing me to serve this wonderful community as President and I look forward to working with the Board and the community in what I hope to be another productive year ahead.

Diane Exter President, Board of Governors

Thank You... Retiring Board member Brett Handler, for your Extraordinary Contribution and Dedicated Service to the Board of Governors and the Frenchman ’ s Creek Community!

Brett Handler 2019 - 2022

2021/2022 Annual Report Page 2

Board of Governors Officers & Directors

Diane Exter Board President - 2021 - 2022 Board Member— 2020 - 2023

Michael Azeez 1st Vice President— 2021 - 2022 Board Member— 2020 - 2023

Herbert Selzer Treasurer— 2021 - 2022 Board Member— 2019 - 2022

Martin Krall Secretary— 2020 - 2021 Board Member— 2020 - 2023

Robert Annunziata 3rd Vice President— 2021 - 2022 Board Member— 2021 - 2024

Robert Scherer 2nd Vice President— 2021 - 2022 Board Member— 2019 - 2022

Stewart Friedman Board Member— 2020 - 2023

Jeffrey Glazer Board Member— 2018 - 2022

Brett Handler Board Member— 2019 - 2022

Jill Kremer Board Member— 2021 - 2022

Jeffrey Parker Board Member— 2021 - 2024

Gale Salz Board Member— 2021 - 2024

Harvey Schulweis Board Member— 2021 - 2024

Ellen Malasky Board Member— 2021 - 2024

Jonathan Mayblum Board Member— 2021 - 2022

2021/2022 Annual Report Page 3

Membership Report: (since our last Annual Report)

Welcome New Members:

Membership:

Harry and Navila Armon David and Melissa Barrett Linda Benjamin Michael and Sara Bernstein

598

Golf Members one empty lot with membership

1

Tennis Member

James and Birdie Chow Mark and Lynne Cooper Bruce and Lisa Cort Gordon Crane and Helene Korman Harry and Amy Engelman

6

Homes with No Membership Pur- chased (grandfathered)

1

Empty Lot (no membership)

Raif and Elena Ezratty Brian and Debra Ezratty Daniel and Deborah Fradkin Melvin and Maria Gershon Lawrence and Lori Gross Alan and Monique Gurock Robert and Esther Heller Jack and Kathleen Jackson David Kis and Robin Bray Steven Kutzer Roger and Deborah Lebbin Richard and Ellen Lieb William and Amy Lipsey

606

Total

In Memory:

Karen Adler Norman Atkin Carole Berkow

Jon Blauner Albert Eisen Jerrold Feigenbaum Carol Fleisher Barbara Golden

Louis and Donna Manderino Robert Matza and Stacy Rubin Leslie McGranaham and Jennifer Rittmaster Gary and Janet Mendell Merle Monsein - Rose Jonathan and Lynn Norton Steven and Jill Parker Steven Plofker and Bobbi Brown

Rhea Herman Joseph Israel Sybil Jayson Helene Katz Harris Malasky Nancy Mintzis Allen Newman Doris Pinsley Edwin Rand Nanette Reiner Gloria Sack Gerald Shaw Sandi Shulman Sidney Spiegel

Richard and Robin Pzena Tony and Wendy Reisman Mark and Karen Rosenbaum Jonathan and Alexis Shaw Alan Shapiro and Kimberly Allis Bruce and Rhonda Shear Robert Shesser and Susan Brett Robert and Phyllis Shustak Ira and Bonnie Siegel

Bob and Lois Silverman Jeffrey and Jane Tauber Jeffrey and Paula Yormak

2021/2022 Annual Report Page 4

A Message from our Executive Director

I am very honored to have had the opportunity to serve as the Executive Director of French- man ’ s Creek. I would like to express my sincere gratitude for an enriching experience and the support from all the Presidents, Boards of Governors, Membership and Staff. It has been a pleasure leading Frenchman ’ s Creek to its status as a premier resort community in South Florida. As Frenchman ’ s Creek begins a new phase in its development, the strength of the Community will be seen in the important days ahead...finalizing the alternative facilities, planning the oper- ations accordingly and moving into the new Clubhouse in the near future. The Community has proudly come together to accomplish a common goal—keeping Frenchman ’ s Creek number #1. Exciting days are ahead! Your dedicated management and staff will continue to lead the way in keeping the recreation- al and related activities vibrant, attractive, and responsive, along with improving and introducing new and exciting amenities and activities to the membership and the lifestyle you enjoy.

Thank you all for the last 27 years of a great Frenchman ’ s Creek experience...it will be time that I will not forget. I wish you all many more successes in the future.

Achal Goswami

Executive Director

2021/2022 Annual Report Page 5

Recreation

► Art Studio with weekly Art Classes and Annual Art Expo for resident painters/sculptors/photographers.

Art

Lifestyle and Amenities

► Beach with Olympic pool, full dining and cabana facilities, lounge chairs at beach/pool, beach walks, fishing on shore.

Beach

► Bicycle Club—weekend trips.

Bicycling

►92 Homes on deep water and adjacent marina.

Boating

► Weekly duplicate Bridge games.

Bridge

► Retention Water Lake

Fishing

► A fenced area for dogs to run, with sitting areas for our members comfort.

Dog Park

Food & Beverage Services

► A fully equipped, 23,000 sq. ft. Fitness Center with personal trainers, massage therapists, aerobic classes, ballroom dancing, Latin dancing, nutritional lectures, yoga, water aerobics, Pilates, spa, facials, manicure/ pedicure services, health fair, along with other activities and special events. Physical therapy from Jupiter Medical Center. ► Two 18 - hole courses, 137 arranged golf tournaments/ plays, handicaps, complimentary play with the pro, pro shop, customized club fitting, complimentary clinics, Nine, Wine & Dine, etc.

Fitness

► Complimentary Continental Breakfast ► Light Fair Dinner ► Bar/Beverage ► Indoor and Outdoor Brunch/Lunch

19th Hole

Golf

► Indoor and Outdoor Lunch/Dinner

The Grille

► Indoor and Outdoor Brunch/Lunch ► Casual Dinner (Seafood) ► Brunch/Family Dinner ► Special Events & Private Parties ► Bar/Beverage ► Special Events ► Nightly Cocktails and Hors d ’ oeuvres ► Private Parties ► Lunch/Dinner/Bar/Beverage ► Special Events & Private Parties ► Cocktails and Hors d ’ oeuvres ► Billiard Table & TV Screens, Direct TV Sports

Beach Club

Main Dining Room Lounge/Living Room

►14 Har - Tru Courts, 12 of which are HydroGrid—lighted night play, customized racquet fittings, 6 Pickleball Courts, 2 Bocce Ball Courts, 1 P é tanque Court and a Pro Shop.

Tennis

► Organized trips and seasonal planned events/dinner trips.

Trips

Sports Bar

► The Creek Club offers junior programs during school vacation periods, including Memorial Day, Labor Day, 4th of July, Thanksgiving and the December holidays. ► Activities include special golf, tennis, beach & water activities, carnival, ice skating, complimentary golf and

Children ’ s Programs and Recreation

► Lunch & Private Parties

Poolside Café

► Breakfast, Lunch, Dinner and Special Holidays

Take Out

tennis clinics, arts & crafts, storytelling, etc. Junior Olympics are offered at Christmas and President ’ s Week.

► Breakfast, Lunch, Dinner and Special Holidays

Home Delivery

► Private Parties (i.e., Weddings and Other Family Functions)

Home Catering

Social Activities

► Lectures, Speaker Series, Cigar Club, iPhone/iPad Learning Classes, Book Talks, and Holiday related events. ► Catered Parties, Weddings and Other Family Functions ► Men ’ s and Ladies Card Rooms ► Duplicate Bridge and Social Bridge ► Backgammon ► Gin, Poker

Special Events

Private Parties

Table Games

2021/2022 Annual Report Page 6

Security

► Director of Security ► Twenty - three (23) Security Staff Serving 606 Homes ►24 Hour Security ► Perimeter Infrared Cameras w/Video Analytics ► Criminal Background Checks ► Access Control ► K - 9 Patrol ► Vendor ID Program ► Central Alarm Monitoring ► Water Patrol ►24 Hour Paramedic Staffing ► Automatic External Defibrillator (AED) ► Emergency Telephones on Golf Courses, Tennis Courts and Outside the Fitness Center ► Panic Buttons at Fitness Center

Staff

Lifestyle and Amenities

Programs

Medical

Community Affairs

Other Services

(additional charges may apply)

► Fifteen (15) Member Board of Governors ► Executive Director ► Executive Management and Staff ► Thirty - one (31) plus Advisory Committees ► Subcommittees and Ad Hoc Committees formed throughout the year, as needed ► Monthly Board Meetings ► Monthly Membership Newsletter “ FC Life ” ► Various Town and Special Meetings ►“ Discussion with the President ” ► Monthly President ’ s Report ► Bi - Annual Resident Satisfaction Surveys ► Frenchman ’ s Creek TV Channels 998 & 999 ► New Member Surveys ► Monthly Event and Information Newsletters

Governance/ Administration

► Minor Repairs/Replacement ► Miscellaneous Handyman repairs/installs ► Pressure Cleaning

Home Services

Committees

► Local Transportation (i.e., doctors, shopping, etc.) ► Airport Arrival and Departure (Palm Beach Intl. / Ft. Laud/Hollywood Intl. / Miami)

Transportation

Communications

► The POA Office provides Notary services for your convenience.

Notary Public

► Our IT Department offers computer services: virus scans, software/hardware upgrades, fax/ scanner/printer trouble shooting and basic computer assistance, for a minimal charge.

Computer Service

► Frenchman ’ s Creek Website— (www.frenchmanscreek.com)

Property Owners

County Club Dues

$200,000

Initiation Fee

► Custom ($18,361) ► Waterfront (additional $395) ► Townhome A, B, or C ($22,019 - $22,138) ► Patio A, B, or C ($23,392 - $23,563) ► Villa A, B, or C ($25,045 - $25,242) ► Maintenance of all common areas ► Cable TV & High Speed Internet ► Maintenance of all roads and infrastructure ►24 Hr Security ► Maintenance of street lights and post lights ► Security Alarm monitoring ► Exterior painting of Patio, Villa, and Townhomes ► Exterior landscaping around Patio, Villa, and Townhomes ► Maintenance of waterways

Annual Fees

$60,000

Equity (Refundable)

29,689

Annual Dues

Services

$2,100

Annual Service Fee

None

Individual Tipping

$2,000

Annual Food & Beverage Minimum

$2,400

Annual Capital Replenishment

(All dues reflect Fiscal Year May 1, 2021-April 30, 2022, unless otherwise noted)

2021/2022 Annual Report Page 7

Ad Hoc Committees (Reports on Pages 8 — 10)

ALTERNATIVE FACILITIES AD HOC COMMITTEE

Brett Handler, Chairperson Ted David, Vice - Chairperson

Adele Fine Patricia Fisher

Sandi Hoffman David Sherman

In anticipation of the upcoming capital improve- ment project to replace our current clubhouse, the Board formed the Ad Hoc Alternative Facilities Committee to replace the physical functions cur- rently provided in our current clubhouse. The Committee worked with Management and Staff to determine the needs of the club and the personnel. The Committee then researched various locations and types of facilities that could be created. In the end, the Board of Governors chose to utilize the area currently known as the pickle ball courts on the northern side of the clubhouse campus. The ar- ea was later expanded to include the basketball court and added the area known as tennis court #14. Additional areas impacted are the Golf Café, Former Sales Office, and the Oceanview United Methodist Church. A revised site plan was created by our profession- als with guidance from our management team. The site plan has just been approved by the City of Palm Beach Gardens and their various municipal agencies providing us with the permission to move forward on our alternative facilities project. Build- ing permits are in hand, and construction has been ongoing for the last several months. • Office space for over 50 of our management, staff and administration personnel. • Kitchen facilities to provide for all the take out, delivery, banquet, and daily meals for all the members and the employees. • Laundry facilities to equal the services current- ly provided which include all linen, staff, kitch- en and golf maintenance uniforms. When complete, the following will be in place:

• 8,700sf pavilion which will provide 6,700sf in- terior space equivalent to the main dining room completely open and able to seat approximately 3 - 400 people. • Storage for all food, drinks, alcohol and sup- plies to run the club on a daily basis.

• Bathroom, locker, and dining facilities for staff.

In addition to the structures, the following work will be done:

•

Upgrade FPL transformers;

• Install new fiber cable to the POA and security building; • Install sewer lines, providing grease traps to the new kitchen and laundry; • Build ADA handicap access to all the struc- tures; • At the request of the City, reconfiguring the east parking lot to accommodate delivery and emer- gency response vehicles up to 50 feet long; • Install 2 new fire hydrants; sidewalks, lighting; and

•

Install landscaping and irrigation.

The goal when complete, anticipated early summer, is that Frenchman ’ s Creek will not miss a beat in continuing to bring a 5 - Star experience to our members.

Brett Handler, Chairperson Ted Davis, Vice - Chairperson Alternative Facilities Ad Hoc Committee

2021/2022 Annual Report Page 8

PAVILION (On Tournament Dr)

GOLF CAFÉ

POA OFFICE (formerly known as the Sales Office)

GOLF SHOP (on north side of Golf Café)

EXECUTIVE OFFICES (behind the POA/north end of driving range)

2021/2022 Annual Report Page 9

NEW CLUBHOUSE AD HOC COMMITTEE Harvey Schulweis, Chairperson

Michael Azeez Patricia Fisher Ellen Levine

Bruce Malasky Jonathan Mayblum Jeffrey Stanfield

During this past year, the Board formed the Ad Hoc Clubhouse Committee to oversee and plan for the ren- ovation of the clubhouse. After an extensive and exhaustive study, it was deter- mined that due to the significantly deteriorated state of the clubhouse it was decided that it would not be fi- nancially prudent to pursue a renovation. The com- munity then, in an overwhelming demonstration of support, endorsed a change of direction towards con- structing a new clubhouse. The Committee engaged an outstanding group of professionals to design a new, modern and efficient building. This team completed the basic plans for the building and site during the first quarter of 2022. The Committee has now directed its efforts to developing the design to address operation- al, structural, and esthetic elements and confirm that the project will not only produce an outstanding build- ing but also be completed within the timetable and budget that the community approved for the project.

Over the next several months this process will be completed and, after confirmation that the project- ed timetable and costs are consistent with what the community approved, the existing building will be demolished and the process of building the new clubhouse will begin. The seven - member committee has spent significant time carefully reviewing the plans and is confident that the developed design will create a wonderful resident experience for the community. The plan is for the demolition to be completed before the ma- jority of members return for the 2022 - 2023 season. The completion of construction is planned during the 2024 - 2025 season.

Harvey Schulweis, Chair New Clubhouse Ad Hoc Committee

MEDICAL ADVISORY AD HOC COMMITTEE Dr. Stewart Friedman, Chairperson

Dr. Jennifer Carter Dr. Melvyn Dinner Dr. Avroy Fanaroff Dr. Peter Feinstein

Dr. Howard Hoffman Dr. Mark Levine Dr. Beno Michel Dr. Jack Sobel, Consultant

The Medical Advisory Committee was an integral part of the community during the pandemic.

The Committee also consulted with an infectious disease specialist to guide us on setting the policy.

The Committee recommended Covid policies to the Board, based on CDC guidelines, and they were then implemented by management.

The Community obtained a greater than 95% vac- cination rate which helped minimize illness from within.

Dr. Stewart Friedman, Chairperson Medical Advisory Committee

2021/2022 Annual Report Page 10

Standing Committees (Reports on Pages 11 — 20)

The Board of Governors is deeply appreciative of the many residents who volunteer their time to serve on the Frenchman ’ s Creek Standing Committees, Sub - Committees, and Ad Hoc Committees. We thank these Committees for their combined efforts and contribution to our Community.

ARCHITECTURAL REVIEW BOARD Ruth Krall and Fern Portnoy, Co - Chairpersons Jeffrey Glazer, Board Liaison

Richard Adler Ellen Goldstein Esther Gordon Stuart Halpert

Lois Kleinberg Bruce Malasky

Linda Pack Kim Winn

Our Committee has also been working on revising the ARB Manual to reflect changes in the designs of new construction and issues which have arisen as a result of renovations, many of which have been quite extensive, to Custom, Patio and Villa homes. During this fiscal year, the ARB collected a total of $149,263 in fees to Frenchman ’ s Creek.

Frenchman ’ s Creek has undergone a major architectural trans- formation during this past year. The ARB has reviewed an un- precedented number of applications for improvements in mem- bers ’ residences, with a view to perpetuating a vision of quality and harmony throughout the community. We have considered over 40 applications for tear downs and new builds; second story, front and rear additions; new pools, and new roofs. We have also studied and approved new land- scape/hardscape designs.

Ruth Krall and Fern Portnoy, Co - Chairpersons Architectural Review Board

ENTERTAINMENT COMMITTEE Judy Konigsberg, Chairperson

Wendi Adler Sabina D ’ Angelo Sue Davis Michael Eigner Barbara Field Sandy Glassman

Herbert Glatt Barbara Hanig Jeri Jacobs Andi Jayson Dottie Kovel

Joan Rand Joan Schwartzman Lila Silver Sue Sternberg Wendy Weinstein Carol Warshauer

The objectives of the Entertainment Committee include developing and presenting new, exciting and imaginative evenings that members will enjoy attending. Its purpose is to provide a wonderful atmosphere through programs like: Holi- day Happenings, opening and closing dinners and many others that result in community pride. It is our mission to make memo- ries and to see that the expectations and taste of our members is met. Our season handbook showcased our scheduled events and en- tertainment for the 2021/2022 community year. Our plans were slightly modified this season due to the lingering pandemic. We began our entertainment with Neil Zirconia, who was our Neil Diamond double. He was followed by NYC 3, who per- form at the Golf Café. These three handsome young men pro- vided an evening full of great music. Following NYC 3, we had Broadway at the Movies and then the Texas Tenors...all getting rave reviews from our members.

At the Beach Club, Mary Ellen Hooper, a female comedian brought the house down. We had five tables of women who really related to her act. We are ending our main stage with Majesty of Rock which has been sold out. Our season will close with a dinner dance and the Good Vibrations, highlighting the music of the Beach Boys. Next season is sure to entertain with unique intimate cabarets, exciting performers of the Headliners bringing acts of comedy, Rock ’ n ’ Roll, Broadway and so much more. We look forward to entertaining our membership again next year.

Judy Konigsberg, Chairperson Entertainment Committee

2021/2022 Annual Report Page 11

EXTERNAL AFFAIRS COMMITTEE Jane Feinstein, Chairperson Joan Siegel, Vice - Chairperson Ellen Malasky, Board Liaison Barry Byrd Marjorie Feld Ellen Goldstein

Ruth Karlin Marcia Levy

The External Affairs Committee has been meeting with our local Palm Beach Gardens and Juno Beach elected officials after a pandemic - related hiatus, in order to get to know the new officials and strengthen our relationships with longer serving officials. We continue to monitor the progress of quiet zones along the rail corridor adjacent to Alternate A1A.

The Committee is preparing to host the annual External Affairs Luncheon on May 10. The 2020 - 2021 luncheon was canceled due to the pandemic.

Jane Feinstein, Chairperson Joan Siegel, Vice - Chairperson External Affairs Committee

FINANCE COMMITTEE Herbert Selzer, Chairperson Jill Kremer and Bill Glassman, Vice - Chairpersons Jeffrey Parker, Board Liaison

Richard Fentin Paul Konigsberg Jeffrey Maurer

Jonathan Nelson Robert Shaw

Fred Stern Anne Sternlicht Michael Strongin

The fiscal year ending in April 30, 2022, will be unprecedented in the history of Frenchman ’ s Creek. For the fiscal year ending April 30, 2021, there were 54 sales of homes to new members and through February 28, 2022 there were 30 sales to new members. As a consequence of these activities, the club present- ly has uncommitted cash which will enable the community to complete a much needed road remediation program, commit to entirely revise that community ’ s maintenance facility, and fund the new and necessary temporary facilities, that we will be en- joying over the next three (3) years. All without the need for an assessment. The committee instituted a program to invest the club ’ s cash balances with Truist Bank to both maximize income and obtain maximum FDIC insurance coverage. The Committee also reviewed the Club ’ s insurance coverages and recommend- ed to the Board to establish a reserve for future contingencies. In February 2021, the club voted to embark on a renovation plan to be funded by a $29 million loan from Truist Bank. How- ever, it soon became apparent there were significant deficien- cies in the current building which culminated in the develop- ment of a new clubhouse plan. This new clubhouse plan was approved overwhelmingly by the membership in December 2021. The new clubhouse plan is to be funded by a $58 million loan from Truist Bank which was closed on December 22, 2021, at extremely favorable interest rates for a 20 year term. As part of the closing with Truist Bank, the back of the house outstanding loan of $747,000 was paid down to save on closing costs and unnecessary interest expense.

The Finance Committee met once a month to review the Club ’ s financial statement and particularly to monitor expenditures and revenues. Covid related issues required a lot of improvising to make sure the community remained on budget for operations. Improvements have been made to the monthly financial reports to make them clearer and to tie into the various schedules con- tained therein. We have begun to prepare the FYE 2023 operat- ing and capital budgets, recognizing that the community will be without a clubhouse for the next 2 - 3 years. The new clubhouse construction along with continued Covid issues, will present unique challenges to management and staff to continue to pro- vide the quality services which our community is noted for. As required, the Club ’ s audited financial statement for the fiscal year ending April 30, 2021, is attached. Our auditors issued a clean or unqualified opinion and the committee continues to work with them during the year to insure that the audit process is as comprehensive and error free as possible. I want to recog- nize the efforts of the finance staff for their work during this period, especially as they have moved from the clubhouse to new facilities off premises. Management has had to deal with Covid related issues for almost 2 years and the club could not have achieved the success we are enjoying without the valuable contributions of Achal Goswami and Bernie Polselli. I personally want to thank my vice chairs, Jill Kremer and Bill Glassman and Board oversight representative, Jeff Parker, for their support and assistance during the past year.

Herbert Selzer, Treasurer and Chairperson Jill Kremerand Bill Glassman, Vice - Chairpersons Finance Committee

2021/2022 Annual Report Page 12

FITNESS COMMITTEE Barbara Sidel, Chairperson MaryLou Cocci, Vice - Chairperson Stewart Friedman, Board Liaison

Patty Ackerman Avroy Fanaroff Barry Fenner

Beth Fentin Lauren Rubin Annette Schilling

Michael Smith Robert Smolens Valerie Sonsteby

In September of 2021, Paula Begel became our new Director. Her background in both Fitness and Spa management made her an excellent fit for the position and the many responsibilities that come with it. Immediate improvements were made to the outdoor gym to make it a more complete workout space and new cardio equipment was ordered and installed as part of an on - going effort to keep our state - of - the - art gym current. Our group fitness program now offers nearly double the number of water aerobics classes in response to the demand for outdoor ac- tivities. With the same goal in mind, special programs such as a “ street workout ” and a variety of outdoor yoga and meditation workshops have been added to the monthly calendar. By and large, class attendance has increased from last season and we an- ticipate this trend to continue through the end of season.

Our Spa operations added several highly qualified massage thera- pists and nail technicians. Requests for services were steady through season with nail services nearly doubling in recent months. Even a pandemic cannot stop the desire to be healthy. While Covid presented some challenges in early 2021, the Fitness Cen- ter and Spa facility emerged stronger and more welcoming than ever. The Fitness Center & Spa staff is all vaccinated and boost- ed and we continue to keep the safety of members at the forefront of our operations.

Barbara Sidel, Chairperson MaryLou Cocci, Vice - Chairperson Fitness Committee

FOOD AND BEVERAGE COMMITTEE Ellen Levine, Chairperson Sandi Hoffman, Vice - Chairperson Jeffrey Glazer, Board Liaison

Herbert Glatt Norma Glazer Cynthia Kaplan Sidney Katz

Robyn Rosenblatt Denise Siegel Jonathan Shaw Jane Tauber

The challenges of 2021 - 22 have been met and far exceeded, thanks to Mr. Goswami, Chef Ernesto, Cindy Teyssedou and staff. Seamless efforts have been made to offer members, family and friends a variety of wonderful food in several safe venues. Home delivery continued to offer: groceries, individual meals, and beautiful opportunities for home entertainment. Our “ food truck ” moved, becoming our “ Tavern on the Range ”. The area around it will soon house our golf shop. During the holiday, space was expanded to support a myriad of large events. The flexibility of its design has offered members breakfast, lunch, “ happy hours ” etc …. Future plans are being made to create a “ sports bar ” feel when construction begins. Our Committee has worked closely with management and staff, offering member wishes. Chef Ernesto has welcomed input and continues to implement menu additions, purveyor evaluation and even recipe considerations. The effort to recreate dining venues and menu ’ s with all the “ moving pieces ” has been a monumental challenge. Bistro 19 continues to act as our upscale dining venue, and our Sports Bar remains the “ hub ” as our last remaining food venue in the clubhouse.

Our Beach Club continues to provide members with a five star experience. Gina, Chef Alex Kempf, and staff offer amazing fare in a casual setting. Expanding dining to pool - side has been well received. We are about to open a dinner venue at our Club House pool. Plans may offer an Asian fusion flare to include sushi, vegan al- ternatives and more. Lunch continues to be available daily at the pool. We anticipate the opening of our pavilion, preparing for our up- coming construction. Kitchens in the area will serve the Bistro 19 (to be relocated) and large events in the years to come.

Sandi Hoffman and I have felt privileged to work with a really hard working committee and staff.

Ellen Levine, Chairperson Sandi Hoffman, Vice - Chairperson Food & Beverage Committee

2021/2022 Annual Report Page 13

FRENCHMAN ’ S CREEK LADIES GOLF ASSOCIATION Lisette Siegel, Chairperson MaryAnne Bartfield, Vice - Chairperson

Mimi Bergel Gaby Brinkwirth Mary Lou Cocci Susan Davis Grace Drusinsky Marjorie Feinstein Marjorie Feld

Susan Fuirst Ellen Goldstein Robin Kimball Lois Kleinberg Dottie Kovel Debra Lalonde Sandi Lamm

Marcia Levy Joan Mopper Shelley Parker Robin Rosenblatt Candy Scherer Annette Schilling Susan Shaw

Bonnie Shyer Lila Silver

Leslie Skolnick Suzanne Speiser Wendy Weinstein Carol West

The Frenchman ’ s Creek Ladies Golf Association (FCLGA) is open to all women residents of Frenchman ’ s Creek. Our objec- tives are to create, promote, and maintain women ’ s golf and its activities. Each year we seek to present exciting and stimulating golf events for the community. We currently have over 240 members. During the year, we sponsor two Ladies Member/Guest Days; a Mixed Member/Guest Day, 5 fabulous “ Nine, Wine and Dine ” events; Couples events and our Tuesday Ladies Days for 18 and 9 holers.

We end our major events with the Club Championship. We begin the season and end the season with an ABCD 9 - hole scramble followed by a luncheon. I would like to thank the FCLGA Board for their dedication and hard work. Special thanks to our Director of Golf, JR Congdon and a major thank you to Kim Augusta, our golf professional, without whom none of this would be possible. Thanks, also, to all the golf professionals and staff for all their help and hard work.

Lisette Siegel, Chairperson MaryAnne Bartfield, Vice - Chairperson Frenchman ’ s Creek Ladies Golf Association

We run three partnered multi - day major tournaments each sea- son: the Eclectic, Member - Member, and The Bruno Cup.

GOLF COMMITTEE Jim Anchin, Chairperson David Rosenblatt, Vice - Chairperson Jeffrey Parker, Board Liaison

Gerry Bartfield Stephen Gordon Bruce Haber Gilbert Hollander

Michael Moskow Carey Pack Lisette Siegel, FCLGA Michael Strongin

This year the Golf Committee set the goal of establishing a more relevant set of golf rules and regulations, that would closely reflect our current environment. A subset of both the golf and green com- mittee participated in the formation of the updated Golf Rules and Regulations. After several draft revisions, the revised golf rules and regulations passed through the Governance committee and ultimately the Board of Governors and became effective Novem- ber 1, 2021. The other major focus of the Golf Committee and the staff was to ensure that the influx of new members that had joined the Club within the past 12 months were integrated into golf games and events. The committee along with the golf professional staff and the starter (Rich Ruggerio) have been working diligently toward the goal of integrating new golfers into a variety of golf groups of various skill levels. The Committee planned and executed a full golf calendar for the year, including not only member only events, but also a return to member - guest golf events. The Men ’ s Two - Day Member/Guest held in January was fully subscribed with 144 players and all events have seen an increase in participation. The fourth annual Veterans ’ Day golf event raised over $34,000 with 192 members playing.

Member rounds of golf have increased 6 percent, and guest activi- ty has surged, since COVID restrictions have relaxed. We have also seen a 30 percent increase in lesson activity, which we attrib- ute to a revitalization of golf, plus the major influx of new mem- bers in the community. The golf retail shop has performed better that expected in both soft goods and hard goods. We have experienced a 10% percent increase in total golf shop sales, primarily in hard goods. This can be attributed to more frequent personalized club fitting demo days, and an uptick in the enthusiasm to play golf. We have fully upgrade of our current fleet of golf carts. The up- grade consisted of all the batteries being changed out, and system- atically changing tires and seats as needed. The entire fleet of club owned golf carts now have a GPS unit on them, so that we can track them at any given time, and identify missing cart locations and any misuse of the fleet carts on the golf course. We were fortunate to have a dedicated golf professional staff that is committed to servicing the membership and creating an enjoya- ble golf environment. We encourage our fellow members to thank our golf professionals for their efforts they made during the year.

Jim Anchin, Chairperson David Rosenblatt, Vice - Chairperson Golf Committee

2021/2022 Annual Report Page 14

GOVERNANCE COMMITTEE Shelley Parker, Chairperson Marcia Levy, Vice - Chairperson Ellen Malasky and Marty Krall, Board Liaison

Steve Cohen Jane Feinstein Jonathan Goldstein Joan Spero

The Governance Committee has had an extremely productive year, working hard to update the community's governing docu- ments. Areas the committee have addressed include the nominat-

ing committee selection process and updating the Rules and Regulations document.

Shelley Parker, Chairperson Marcia Levy, Vice Chairperson Governance Committee

GREEN COMMITTEE Richard Adler, Chairperson Marty Rosenman, Vice - Chairperson Robert Scherer, Board Liaison

Nancy Berkley Ken Bezozo Mel Boren

Michael Eigner Marjorie Feld Marnie Grossberg

David Sherman Jeff Tauber Steve Weinberg

This summer the maintenance crew will concentrate on more aggressive cultural practices to the South course and the beauti- fication of both courses. The South course never closed for maintenance in 2021 because of the North course improvement project. Less disruptive practices were performed so the turf would be ready for the season but this summer the staff will get more aggressive with aerification, dethatching and topdressing. Also, when the courses are closed for maintenance, the land- scaping teams will overhaul a few high - profile areas with plant replacement and extra detailing. As a result of a recommendation from the Green Committee, the Board has allocated additional funds for the annual golf maintenance operating and capital equipment budgets. The maintenance team ’ s focus will be to improve the visual aspects of the courses. Although improving turf conditions will be par- amount; landscape beautifications and more defined surrounds will also enhance the enjoyment of our courses. Benchmarks and objectives will be established to measure our success. Ad- ditionally, we are now exploring the possibility of hiring an outside consultant to assist us. As always, input from the membership is welcomed and appre- ciated. We would also like to thank the committee for their ser- vice to the community.

The Green Committee would like to thank the golf maintenance team for maintaining our golf courses at the high level we are accustomed to. We would also like to thank the members who have joined in the effort to improve the turf by closely adhering to the cart rules. During the summer we completed the North Course improve- ment project. The primary focus was to restore all the putting surfaces, enhance the playability of the 7th and 17th green complexes, add forward teeing boxes and increase the size and function of the practice green next to the starter ’ s building. Mr. Jim Fazio worked with our contractor, Country Club Services, and the maintenance team to tackle the project. Since re - opening in October, the staff has been vigilant with the new greens while they are maturing. The North greens may seem just a bit slower than the South greens until the weather warms up in the Spring. Enthusiasm for golf has increased during the pandemic. One cart per player caused cart traffic to double. In November, the Golf and Green Committees invited all the various men ’ s and wom- en ’ s golf groups to discuss solutions to this challenge. A letter was sent to the membership to encourage two players per cart for those who were comfortable and more signage, course markings and roped off areas were added to help direct cart traffic. Recent- ly, the CDC relaxed Covid - 19 restrictions which has enabled us to reinstitute pre - Covid cart rules of two carts per foursome.

Richard Adler, Chairperson Martin Rosenman, Vice - Chairperson Green Committee

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GRIEVANCE COMMITTEE Steve Cohen, Chairperson Mark Jacobs, Vice - Chairperson

Steve Bernstein Tobi Glatt Barbara Ilsen Saul Kravecas

Linda Pack Paul Siler Joan Spero Anne Sternlicht

The role of the Grievance Committee is to promote the friendly and collegial atmosphere that defines the lifestyle and traditions of Frenchman ’ s Creek by providing a forum for resolving dis- putes and violations of our Rules. The Committee is charged with investigating written complaints relative to any Member ’ s conduct and acts; acting as a mediator between two or more parties who have a dispute within the community; and when necessary holding hearings regarding the inappropriate conduct of a Member towards another Member or employee. The Grievance Committee seeks, whenever possible, to defuse problems before they result in formal grievances. Most matters that come to the attention of the Grievance Committee are re- solved privately, without the need for a formal process. The Grievance Committee may not initiate a grievance or im- pose a penalty. Grievances can only be brought by a Board member or by senior management, and only the Board can im-

pose a penalty. If, after investigating and holding a hearing on a grievance, the Committee determines that a Rules violation occurred, it may recommend to the Board that a suspension or other penalty be imposed, and the Board may accept, reject or modify the Grievance Committee ’ s recommendation. If the Board votes to impose a penalty, the Member may appeal the Board ’ s decision to an independent panel of three other mem- bers, and the penalty will not take effect unless approved by that panel.

During 2021, the Grievance Committee heard a few grievances and resolved numerous other issues privately.

The Committee is committed to treating all Members who come before it fairly and with respect.

Steve Cohen, Chairperson Mark Jacobs, Vice - Chairperson Grievance Committee

INSURANCE COMMITTEE Norman Barham, Chairperson Michael Azeez, Board Liaison Alan Fuirst Jonathan Nelson Steve Parks

United Healthcare was chosen as the Club ’ s new underwriter for employee medical benefits. Florida Blue Cross ’ s renewal came in with an increase of 44.3% while United Healthcare ’ s proposal came in at 8.4% higher than our current plan. We will continue to work with our insurance broker to review other Health Insurance options to determine if we are receiving the best programs for the employees of the Club. Tanenbaum Harber Insurance Group of Florida has continued to service all the property and casualty lines of coverage for Frenchman ’ s Creek. The 2021/2022 policies with Zurich were renewed for the Property, General Liability and Auto policies with an 5.4% increase over the prior year. The 2021/2022 Cyber Liability policy remains with Chubb Insurance. After considering other options, Chubb ’ s policy provided better terms and expanded coverage limits. All other lines of coverage were renewed with stable coverage terms and pricing. We have been unable to ob- tain windstorm and hail coverages on the Pavilion and several of the trailers because this type of construction is no longer available in Florida at fiscally responsible rates. Under these circumstanc- es, we will have to self - insure several million dollars.

The 2021/2022 workers ’ compensation program from Zenith Insurance was renewed with a 15% flat dividend, a decrease from prior year of 25%. Both Zenith and Tanenbaum Harber of Florida have provided guidance on improvements that are being implemented and monitored to address trends in the workers ’ compensation loss history as part of the continuing effort to reduce future costs of the workers ’ compensation policy. Tanenbaum Harber continues to monitor our claims activity including any recent claims. Due to our improved safety practices, Frenchman ’ s received a dividend check for $13,600. We have a very skilled Committee which provides valuable insight and oversight for the community ’ s $2.5M insurance portfolio. I would like to thank them for their service to Frenchman ’ s Creek.

Norman Barham, Chairperson Insurance Committee

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LEGAL COMMITTEE Peter Berkley, Chairperson Lois Kleinberg, Vice Chairperson Martin Krall & Ellen Malasky, Board Liaison

Barry Byrd Helen Colman Stephen Gordon

Barbara Ilsen Michelle Lax Michael Spero

Bobby Vilensky

The primary purpose of the Legal Committee is to offer guid- ance from a legal perspective to the Executive Director and the Board of Governors with regard to matters that may arise in the governance of the Frenchman's Creek community and to advise them in recognizing where outside legal advice would be advan- tageous.

The Legal Committee is comprised of a number of talented attorneys who provide a valuable service to our community. During the 2021 - 2022 year the members of the Legal Committee were involved in the consideration and drafting of many amendments to the governing documents of Frenchman's Creek and the Employee Handbook and advice as to various matters arising with relation to the Covid - 19 pandemic.

Peter Berkley, Chairperson Lois Kleinberg, Vice - Chairperson Legal Committee

LINK COMMITTEE Suzanne Speiser and Adele Fine, Co - Chairpersons Gale Salz, Board Liaison

Connie Forman Mel Adler Dawn Burcham Sue Davis

Arlene Feldman Tobi Glatt Linda Jacobs Bonnie Shyer

Rhoda Edelman

The LINK Committee was a huge success – meeting our goals during another difficult year of a pandemic. All of the Commit- tee members participated in helping to integrate our new mem- bers from the past three years into the Frenchman ’ s Creek life. LINK members organized “ Ladies on the Link ”, book groups, canasta games and lessons, bridge games, cocktail parties, and dinners with the objective to connect our newer member with each other and with other members.

We continue to expand our program with great enthusiasm by both our new members and LINK Committee members.

Suzanne Speiser and Adele Fine Co - Chairpersons Link Committee

2021/2022 Annual Report Page 17