After more than four years in the draft proposal stage and federal lawsuits, Congress recently enacted new overtime rules for white-collar workers.
Ask any security expert and they will tell you that it’s not a matter of “if”, but “when” your organization will suffer a cyberattack. And while you might think a Country Club isn’t a huge target for hackers, the reality is that no organization is safe anymore, particularly smaller entities.
No matter what type of board you serve, two major responsibilities are in order: to serve as a dutiful member and to raise future board members. While many board members are very successful in their own careers, the operation of a club is a different animal all together.
While a club may be tax-exempt, it may be subject to tax on its unrelated business activities. Read on to learn more as well as to download PBMares' “Member Function Questionnaire” for help in gathering the information required by the IRS.
Read more on the benefits and drawbacks private clubs must consider when deciding whether to operate as a taxable or tax-exempt organization.
Nonmember revenue can help advance, and impede, club growth. As the club industry continues to evolve between private member-owned clubs and public ones, the majority remain member-owned, focusing on the member’s experience rather than on public consumption. However, board of directors or governors of clubs are trying to fund operations without raising members’ dues while trying increase club use by nonmembers through offering nontraditional activities.
Today’s successful club offers more than just a club; it offers a lifestyle. Clubs have evolved from the traditional model in an effort to attract the new generation of members. Along with more family oriented environments and relaxed dress codes, one of the ways clubs have tried to deliver that desired lifestyle and attract those members is to add or expand on their wellness/fitness facilities.
In the recent past, clubs were forced to cut spending back due to a decline in membership and in spending by the members that remained. However, while membership desires may have been postponed they were not eliminated. The members want a new swimming pool, the grill needs some new furniture, the golf course needs a new irrigation system, the tennis courts need to be resurfaced and by the way, the club down the street is making these improvements.
“Why is our food and beverage operation losing money?” “Why are we budgeting to lose money in that area?” “My buddy earns a fortune running [...]
Although many private golf and country clubs turned a corner in 2016 and began to attract more members, overall membership and revenue have still not [...]