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, n
*

'.F
Form

Department of the Treasury
Internal Revenue Sen/ice
A L] Check box it
address changed
B Exempt under section
501(C )( 3 )
[3mm l:l220(e)

OMB No 15450687

Exempt Organization Business Income Tax Return
(and proxy tax under section 6033(e))
For calendar year 2012 or other tax year beginning
, and ending
Name of organization ( |_I Check box if name changed and see instructions.)
Print

CITY CREEK RESERVE ,

or
Type

Number, street, and room or SUIte no. If a P.0. box, see instructions.
5 0 E NORTH TEMPLE ST
COB 2 2

0 en to Public Ins action for
5 1(cX3) Organizations Only
Dgxgggeggggg "umber
instructions)

INC .

20-8152281
E(L2;e:;efug:ss my des

El 408A |:I5ao(a)
city or town, state, and ZIP code
E529(a)
SALT LAKE CITY, UT
84150
900003
531390
c Book value of all assets F Group exemption number (see instructions)
F
atend (year
0 Check organization type D
LXJ 501(c) corporation
LI 501(c) trust
I_I 401(a) trust
I__| Other trust
1 , 000 , 000 .
H Describe the organization's primary unrelated busmess actiwty. b PROPERTY MANAGEMENT
I During the tax year, was the corporation a subsrdiary in an affiliated group or a parent-sub5idiary controlled group?
P LXJ Yes
|_l No
If "Yes," enter the name and identifying number of the parent corporation. P
SEE STATEMENT 4
J The books are in care of P CRAIG WHITING
Telephonenumber P 801-2403030
| Part I | Unrelated Trade or lness Income
(A) Income
(B) Expenses
(0) Net
1a Gross receipts or sales
49 , 010 , 482 .
b Less returns and allowances
c Balance
b
1c 4 9 , 0 l 0 , 4 8 2 .
2 Cost of goods sold (Schedule A, line 7)
2 4 1 , 16 6 , 3 2 6 .
Grossprofit. Subtract line2from line 1c
3
7 , 844, 156.
7 , 844, 156.
4a Capital gain net income (attach Schedule D)
4a
b Net gain (loss) (Form 4797, Part II, line 17) (attach Form 4797)
4b
c Capital loss deduction for trusts
4c
5 Income (loss) from partnerships and S corporations (attach statement)
5
79 , 311 .
STMT 1
79 , 311 .
6 Rent income (Schedule C)
6
7 Unrelated debtfinanced income (Schedule E)
7
8 Interest, annumes, royalties, and rents from controlled organizations (Sch. F)
8
3 , 643 , 648 .
2 , 4 6 8 , 4 6 8 . 1 , 17 5 , 1 8 0 .
9 Investment income of a section 501(c)(7), (9), or (17) organization
(Schedule G)
9
10 Exploded exempt actiVIty income (Schedule I)
10
11 Advertismg income (Schedule J)
_
11
12 Other income (see instructions; attach statement) STATEMENT 2
12
l80 , l03 .
180 , 103 .
13 Total.Combinelines3through12
_
13 11,747,218.
2,468,468. 9,278,750.
I Part II I Deductions Not Taken Elsewhere (see instructions for limitations on deductions)
(except for contributions, deductions must be directly connected With the unrelated bustness income)
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34

Compensation of officers, directors, and trustees (Schedule K)
Salaries and wages
Repairs and maintenance
Bad debts
.
Interest (attach statement)
5
_
Taxes and licenses
2
O 7
Charitable contributions (see instructions for Iim tatiomules)_.__t
DepreCIation (attach Form 4562)
Less depremation claimed on Schedule Aand eI
r on re urn
Depletion
Contributions to deterred compensation plans
Employee benefit programs
Excess exempt expenses (Schedule I)
Excess readership costs (Schedule J)
Other deductions (attach statement)

m
33

18
19

SE

20

LHA

For Papemork Reduction Act Notice, see instructions.

482 , 523 .

964 , 436 .

21 1 3 , 7 0 3 , 7 6 3 .
22a
22b 1 3 , 7 0 3 , 7 6 3 .

SEE STATEMENT
Total deductions. Add lines 14 through 28
.
Unrelated busmess taxable income before net operating loss deduction. Subtract line 29 from line 13
Net operating loss deduction (limited to the amount on line 30)
. SEE STATEMENT
Unrelated busmess taxable income before specific deduction. Subtract line 31 from line 30
Specific deduction (generally $1,000, but see instructions for exceptions)
Unrelated business taxable income. Subtract line 33 from line 32. If line 33 is greater than line 32, enter the smaller
ofzero orline 32

3:79.113
201}.
9
OCT
0
SCANNED

O

14
15
16
17

23
24

3

5

25
26
27
28
4 , 667 , 467 .
29 19 , 8 18 , 18 9 .
30
-10 , 539 , 439 .
31
32

-10 , 539 , 439 .

33

l , 000 .

34

40,539,439,
Form 990-T (2012)

'a
Form 990-T(2012)

CITY CREEK RESERVE ,

INC .

208152281

Page 2

[Bart III I Tax Computation
35 Organizations taxable as corporations (see instructions for tax computation).
See instructions and:
Controlled group members (sections 1561 and 1563) check here V
a Enter your share of the $50,000, $25,000, and $9,925,000 taxable income brackets (in that order):
0.)
(3) Is
0-I
(ZIIL
0- I
(1) Is
b Enter organization's share of: (1) Additional 5% tax (not more than $11,750)
|$
0 -|
(2) Additional 3% tax (not more than $100,000)
|$
0 -I
c Income tax on the amount on line 34
36 Trusts taxable at trust rates (see instructions for tax computation). Income tax on the amount on Irne 34 from:
I: Tax rate schedule or '3 Schedule D (Form 1041)
Proxy tax (see instructions)
38 Alternative minimum tax
39 Totd lint-Isz and 38 to line 35c or 36, whrchever applies
LPart lVI Tax and Payments
40a Foreign tax credit (corporations attach Form 1118; trusts attach Form 1116)
b Other credits (see instructions)
0 General busmess credrt. Attach Form 3800
d Credrt for prior year minimum tax (attach Form 8801 or 8827)
e Total credits. Add lines 40a through 40d

P
b

37

36
37
38
39

.

0 .

40a
40b
401:
40d

Subtract line 40e from line 39
Other taxes. Check it from: |:I Form 4255 |:l Form 8611 El Form 8697 [:1 Form 8866 D Other (attach statement)
Total tax. Add lines 41 and 42
50 , 000 .
44a
.
Payments: A 2011 overpayment credited to 2012
2012 estimated tax payments
44b
Tax deposrted wrth Form 8868
_
44c
d Foreign organizations: Tax paid or wrthheld at source (see instructions)
44d
e Backup Withholding (see instructions)
Me
i Credit for small employer health insurance premiums (Attach Form 8941)
44f
9 Other credits and payments:
I: Form 2439
Total p 449
[3 Other
D Form 4136
45 Total payments. Add lines 44a through 44g
46 Estimated tax penalty (see instructions). Check if Form 2220 is attached b (:1
47 Tax due. If line 45 is less than the total of lines 43 and 46, enter amount owed
P
b
_
48 Overpayment. It line 45 is larger than the total of lines 43 and 46, enter amount overpaid
b
5 0 , 0 0 0 .I Relunded
49 Enter the amount of Irne 48 you want Credited to 2013 estimated tax P
|_Part VJ Statements Regarding Certain Activrties and Other Information (see instructions)
41
42
43
44 a
b
c

1

0 .

35c

40a
41
42
43

0 .
O .

45

50 , 0 0 0 .

46
47
48
49

50 , 000 .
0 .

At any time during the 2012 calendar year, did the organization have an interest in or a srgnature or other authority over a Manual account (bank,
securities, or other) in a foreign country? It "Yes,' the organization may have to file Form TD F 90-221, Report of Foreign Bank and FinanCIaI
Accounts. If "Yes,' enter the name of the foreign country here P

Yes

No

X
2 $3322,ihtaiiiing {eiaii#3 325213455 " he 93" ' "am" W '' 3 '9 ""5"
X
3 Enter the amount ottaxexempt integstrreceived or accrued during the tax year} $
Schedule A - Cost Of Goods Sold. Enter method of inventory valuation D COST
260,717,362.
6
6 Inventory at end olyear
297,241,810.
1
1 Inventory at beginning of year _
2 Purchases
2
l , 0 43 , 6 5 8 .
7 Cost of goods sold. Subtract line 6
7 41 , 166 , 326 .
from Irne 5. Enter here and in Part I, line 2
3
3 Cost of labor
Yes No
8 Do the rules of section 263A (wrth respect to
3 , 59 8 , 22 0 .
4a Additional section 263A costs (an statement) 4a
b Other costs (attach statement)
4b
property produced or acquired for resale) apply to
X
the organization?
301,883,688 .
5
5 Total. Add lines 1 through 4b
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements. and to the best of my knowledge and belief, it is true,
mm
correct, and complete Declaration of preparer (other than taxpayer) rs based on all Information 01 which preparer has any knowledge
Sign
Here
Signature of officer

'

Print/Type preparers name
Efgare,
Use

l

Pre arer's Signature

410,):
Sharon Zorbach
T
Firm's name
2 2 5 WEST SANTA CLARIA/ STREET
> SAN JOSE ,

CA 95113

thzypreparer shown below (see I
.nsuucuons)?
Yes D No

I

I
M 94
)

Firm'saddress
223711 01-1113

C
Title

mite

Date

Check L_ If
selt- employed

PTIN _

j

p00125475

9/19/14
Flfm's
Phone no.

}
4087044000
Form 990472012)

l

.i
"

I

208152281
Form 990-T(2012) CITY CREEK RESERVE, INC.
Page 3
Schedule C - Rent Income (From Real Property and Personal Property Leased With Real Property)(see IHSVUCUOHSI
1. Description of property
(1)
(2)
(3)
(4)
2, Rent received or accrued
a From personal property (if the percentage of
b From real and personal property (it the percentage
( )ot rent lor personal property exceeds 50% or if
( ) rent for personal property is more than
10% but not more than 50%)
the rent IS based on profit or income)
(1)
(2)
(3)
(4)
Total

0 .

Total

3(a)Deduc1ions directly connected With the income in
co'umns 2(a) and 2(b) (mash smement)

0 .

(c) Total income. Add totals of columns 2(a) and 2(b). Enter
here and on page 1, Part I, line 6, column (A)
p

0 .

921-2) agdummnin er era a on page ,
Part I, iine 6. column (B)

p

0 .

Schedule E - Unrelated Debt-nanced Income (see Instructions)

1. Description of debt-linanced property

3. Deductions directly connected With or allocable
to debt-financed property
(a) Straight line depreciation
Other deductions
(attach statement)
(attach statement)

2. Gross Income from
or allocable to debtfinanced property

(1)
(2)
(3)
(4)
4. Amount of average acqwsmon
debt on or allocable to debt-financed
property (attach statement)

5_ Average ad)usted ba5is
of or allocable to
debt-nanced property
(attach statement)

6, Column 4 dwided
by column 5

(1)
(2)

8, Allocable deductions
(column 6 x total 01 columns
3(a) and 3(b))

7. Gross income
reportable (column
2 x column 6)
/o
%
%

(3)
(4)

%
Enter here and on page 1,
Part I, line 7, column (A)

Totals

. b

Enter here and on page 1,
Pan I, line 7. column (B)
0 .

0 .

Total dividends-received deductions included in column 8
F
Schedule F - Interest, AnnuitieT, Royalties, and Rents From Controlled Organizations (see instructions)
Exempt Controlled Organizations
1. Name of controlled organization

2.
Employer Identification
number

(1)
(2)
(3)
(4) SEE STATEMENT 7
Nonexempt Controlled Organizations
7_ Taxable Income
8_ Net unrelated income (loss)
(see instructions)

3.
Net unrelated income
(loss) (see instructions)

4
Total of speCIlied
payments made

5- Part of column 4 that is
included in the controlling
organization's gross income

10, Part of column 9 that is included
in the controlling organization's
gross income

9_ Total of speCified payments
made

0 -

6. Deductions directly
connected With income
in column 5

11. Deductions directly connected
With income in column 10
STATEMENT

8

(1)
(2)
(3)
(4)
Add columns 5 and 10
Enter here and on page 1, Part I,
line 8, column (A)
Totals
223721 01-11-13

>

3,643,648.

Add columns 6 and 11
Enter here and on page 1, Part I,
line 8, column (B)
2,468,468.
Form 990-r(2012)

it
,.
Form 990-T (2012) CITY CREEK RESERVE , INC .
Schedule G - Investment Income of a Section 501(c)(7), (9), or (17) Organization
(see instmctions)
~
3. Deductions
directly connected
2_ Amount of income
1, Description of income
(attach statement)
(1)
(2)
(3)
(4)

d
4 S
:fi' es 1
(3 ac 5 a amen )

Page 4

5. Total deductions
and set-a5ides
(col 3 plus col 4)

Enter here and on page 1,
Part I, line 9, column (A)

Enter here and on page 1,
Part I, line 9. column (B)

0 .

0 .

p

Totals

20 8152281

Schedule I - Exploited Exempt Activity Income, Other Than Advertising Income
(see instructions)
oi
explmted actiwty

(1)
(2)
(3)
(4)

3_ Expenses

4. Net income (loss)

Income from
trade or busmess

wgfedlggon
busmess Income

minus column 3) It a
gain, compute cols 5
through 7

Enter here and on
page 1, Part I,
line 10, col (A)

Enter here and on
page 1. Part I.
line 10, col (B)

7_ Excess exempt
6angglrigl: 3

is not unrelated
busmess Income

as;
column 4)

Enter here and
on page 1,
Partll. line 26
0 .

0 .
0 .
b
Totals
Schedule J - Advertising Income (see instmctions)
I part I I Income From Periodicals Reported on a Consolidated Ba3is

1- Name 01 DerlOdlca

3393::
Income 9

3. Direct
advertismg costs

4. Advertismg gain
or (loss) (col 2 minus
col 3) If a gain. compute
cols 5 through 7

5. Circulation
income

6. Readership
costs

7. Excess readership
costs (column 6 minus
column 5, but not more
than column 4)

(1)
(2)
(3)
(4)
0 .

0 .
0 .
>
Totals (carry to Part ii, line (a)
| Part II | Income From Periodicals Reported on a Separate Basis (For each periodical listed In Part ii, fill In
columns 2 through 7 on a line-by-line basts)
1

- Name 01 PB!10dlcal

(1)
(2)
(3)
(4)
Totalstrom Partl

aECIggf:
Income 9

0 .
Ente' here and on
page 1, Part I,
line 11, col (A)

3. Direct
advertismg costs

4. Advertisth gain
or (loss) (col 2 minus
col 3) If a gain. compute
cols 5 through 7

5. Circulation
income

6. Readership
costs

0 .
Enter here and on
page 1. Part I.
line 11, col (B)

0 .
0 .
b
Totals,Partll(lines1-5)
Schedule K - Compensation of Ofcers, Directors, and Trustees (see instructions)
ma- devoted to
busmess
2. Title
1. Name

Total. Enter here and on
223731
01-11-13

1 Partl line 14

7. Excess readership
costs (column 6 minus
column 5. but not more
than column 4)

0 .
Enter here and
on page 1,
Part II, line 27
0 .
4. Compensation attributable
to unrelated bustness

.
Form 990-T (2012)

SCHEDULEO

Consent Plan and Apportionment Schedule

for a Controlled Group
(F""2)
CM 8 No 15450123
(Rev. December 2012)
Depanmem of me Treasury F Attach to Form 1120, 1120-C, 1120- F, 1120- FSC,1120- L, 1120- PC, 1120- REIT, or 1120- RIC.
lnformation about Schedule 0 (Form 1120) and its instructions is available at www.irs.govlform1120.
'mema'\ Revenue 35"
Employer identication number
Name
87-0274433
DESERET MANAGEMENT CORPORATION & SUBSIDIARIES
Part I
1
a
b
c
d

Apportionment Plan lnforrnation

Type of controlled group
Parent-subsrdiary group
El Brother-Sister group
[:1 Combined group
I: Life insurance companies only

2

This corporation has been a member of this group
a
For the entire year
b D From
.
, until
.

3

This corporation consents and represents to
a D Adopt an apportionment plan. All the other members of this group are adopting an apportionment plan effective for
, and for all succeeding tax years.
.
the current tax year which ends on
Amend the current apportionment plan. All the other members of this group are currently amending a preVIously
b
, and for all succeeding tax years
12 31 , 2011
adopted plan, which was in effect for the tax year ending
c I: Tenninate the current apportionment plan and not adopt a new plan. All the other members of this group are not
adopting an apportionment plan
d D Tenninate the current apportionment plan and adopt a new plan. All the other members of this group are adopting
, and for all
,
an apportionment plan effective for the current tax year which ends on
succeeding tax years.

4

If you checked box So or 3d above, check the applicable box below to indicate if the termrnation of the current apportionment
plan was
a [:I Elected by the component members of the group.
b I: Requrred for the component members of the group.

5

If you did not check a box on line 3 above, check the applicable box below concerning the status of the group's apportionment
plan (see instructions).
a I: No apportionment plan is in effect and none is being adopted.
. and
,
b I: An apportionment plan is already in effect It was adopted for the tax year ending
for all succeed ing tax years.
If all the members of this group are adopting a plan or amending the current plan for a tax year after the due date
(including exten5ions) of the tax return for this corporation, is there at least one year remaining on the statute of limitations
from the date this corporation led its amended return for such tax year for assessrng any resulting deaency"
See instmctions
D Yes.
(i) [I The statute of limitations for this year erI expire on
,
.
, this corporation entered into an agreement With the
.
(ii) [:I On
Internal Revenue Service to extend the statute of limitations for purposes of assessment until

6

a

b D No. The members may not adopt or amend an apportionment plan.
7

Requrred information and elections for component members. Check the applicable box(es) (see instnictions)
a D The corporation wrll determine its tax liability by applying the maxrmum tax rate imposed by section 11 to the entire amount
of its taxable income.
b I: The corporation and the other members of the group elect the FIFO method (rather than defaulting to the proportionate
method) for allocating the additional taxes for the group imposed by section 11(b)(1).
c D The corporation has a short tax year that does not include December 31.

For Privacy Act and Papenivork Reduction Act Notice, see Instructions for Form 1120.

ERF

Schedule 0 (Form 1120) (Rev. 12- 2012)

F2.00.01

US112001

USF21.00.20 12

S1120)
0
((Rev.
2012)
12cFheorm
dule

Each
Bracket

ITaxabl
Alnto
Amount
lcome
ocated

82012
000
50,
12
25,79-000,
10000
0
,94821050,7,0004 0

MDE8.
SCUAO8NBR7SAP-OG0IEDR2IMA7T4REINOT8S3

72012
12
0
420
368286

82012
12
7O
0
-O
0217280

(a)
(b)
(9)

Group
me(c)
and
Tax
end
(d)
(e)
name
(f)
cmoyear
(add
Total
bluemnsr's

Part
ITaxabl
Anpcome
(See
sotruiocntmeloenst) CautcolPart
S12-ch2
edu|ePage
02(Fo012)rm1 20)(Rev II
total
Each
II,
for
(9)
teach
equal
c1,
member
from
must
1120,
Form
aof
30
llne
lthe
osuch
1nuxablmIor
page
nipcmnonen:maneranbtle metax
remtubern's.

emplnumber
Id(Yr15%
Mo)
25%
e34%
35%
tn(0)
(c)
hicarough
otlyern

_BS"T_Eti Kri/{dE'M82012
12
No
7T6-0
015621i7A416N132 1

'c"_dtid idrfb22012
12
'o
r3h-'o
7a3e0idg4m0'd5

BRIGRl-thIl-YOHAWAI
9U12
No
2012
-Go
0UNI8TE3R8S-I2TYI5-

BRYOUNG
UN812
I0
2012
2VE-GR0
0S2IHAMT0Y-7ID6AH9O

CICREEK
INC
RESERVE,
22012
12
O
00
-8T152Y81

_6E-_S R_ET_lvJ-TU}\8-L2012
12
0
7Eo
N-0IT_4AD10\A1NI6TRH3O

ENSIADVINC
PEAK
82012
12
0
4-0
14lS3GO29NRS69.
Total
000
50.
25,
925,
9,
10000,
0
000,

2Page
US1 20 2
(9)

10,
000
000,

F2.00.01

0

(f)
(add
Total
columns 35%
through
(c)
(0)
Sc0
(2012)
(Rev.
1120)
12Fhedulorme

(e) 34%

Each
Bracket

87-0274 3

925,
9,
000

Taxabl
AlIAmount
nto
lcoocameted
000
25,
(d) 25%

50,
000
(c) 15%

(b)

Mo)
(YrTax
end
year

DEMSC8.
UAONBRSAPOGEIDRIMATERINOTES

12

12

12

12

12

12

12

2012

2012

2012

2012

2012

2012

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87-05698 0

9 -0109 08

9 -019 38

67-6128054

870687 04

59-3439096

91-1627 46

FRESERVE.
INC
ARMLAND

"E'E'"dLVNE'Euhirfli
'cdL'rU'R E

(a)

Group
meand
namembers

Iemplnumber
dentrcaotroyern

Taxabl
Al(See
nIpcsotrumeiocntemioenst) for
total
colEach
II.
Part
(9)
each
member
tcline
equal
from
must
1120,
Form
1.
30
the
oaof
InmIuxablpage
such
nor
mpacpmnomnreanbtle

Sch
012edul(For n1 2e0)(Rev Part
2012)
ll Caution: tax
rmeemtubern's

3

'E'cfri
"'_oL'YN'EMELJ 'TUM
Efa

7

Total

3
Page
388,
3,
250

(h)
Total
itax
ncome

250
388,
3,

US1 20 3

0

F2.00.01

t(9))
hrough
l(cionmbiesne (b)

(9) 3%
(S120
1120)
(Rev.
2012)
cFhorm
edule

(f) 5%

87-0274 3

ITax
Anpcomeortlonment

(d)
(e) 34%
35%

500
374,
3.

3.
500
374,

250
6,

250
6,

500
7,

7,
500

(e) 25%

(b) 51%
DEMSC&
UAONBRSAPGEIODRIMAERTNIOTESN

(a)

I(See
Anpcome
Tax
sotrutiocntimoenst)

S120
1(cFhe2ormd0u)l(eRev
2012)

III
Part

mename
Group
mbers

BUNRIVEGRSIHATY-IDMAHO
BHAWAI
URNIGVEHARSITMYI- 7 YOUNG
YOUNG

DEABEMUTDMSNI ESRUTFEALAITO

10

ADVENSlINCISGONRS.
PEAK

Total


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