T H E P E N I N S U LA C LU B
Annual Meeting
J A N U A R Y 2 3, 2 0 2 2
Agenda Call to Order – Welcome Introductions Club Awards and Celebrations Treasurer’s Report President’s Report General Manager Report Election Results Questions and Answers Adjournment
Welcome
Introductions George Searle, Board President
Board of Directors George Searle | President Mike Vowell | Treasurer Tracy Podesta | Secretary Michael Hoertt Marshall Jones Amy Kazmierczak Ernie Young Elise Redmond Ron Parks
Past Presidents Dan Shively 2000-2001 Roy Little 2002-2003 Ross Bailey 2004-2005 Ed Glass 2006 Gary Kroll 2007-2010 Larry Taggart 2011
Ron Parks 2012-2013 Stuart Towsey 2014 Robbie Cochran 2015 John Hevey 2016-2017 Randy Baker 2018-2019 George Searle 2020-2021
The Peninsula Club Executive Staff
Phil Barber, CCM
Andy Heiberger, PGA
Alicia DiBernardo
Nick McLennan, GCSAA
Allyson Moore
Maureen Kindred, MCMP
Amanda Petruski
Kris Cichelli
George Weyrauch
Sean Steinour, PTR
Alex Ochs
Bob Forman, MS, CGFI, CPT, CAFS
Celebrating 30-year Members Dr. and Mrs. R. Dale Ensor Dr. and Mrs. Richard R. Boesel Mr. and Mrs. Charles W. Rader Dr. Jay Gerdes and Mrs. Nancy I. Law Mr. and Mrs. Larry Griffin, Jr. Mr. and Mrs. Wayne Page Dr. and Mrs. Charles M. Elliott Mrs. Kay Sides Mr. and Mrs. Sid Morris, Jr.
8/13/1990 8/14/1990 8/31/1990 9/16/1990 10/2/1990 10/2/1990 10/8/1990 10/9/1990 10/10/1990
Celebrating 30-year Members Dr. and Mrs. Steve Binder Mr. and Mrs. Michael L. Griffin Mr. and Mrs. Peter S. Gilchrist, III Mr. and Mrs. Robert F. Edmonds, Jr. Mr. and Mrs. J. David Goodrum Mrs. Patty Howe Mr. and Mrs. Randy Ferrell Mr. William R. Rollins Mr. and Mrs. Arthur M. Squicciarini Mr. and Mrs. John D. Irvin, Jr
11/1/1990 11/7/1990 11/9/1990 1/3/1991 4/9/1991 4/10/1991 6/27/1991 7/2/1991 7/10/1991 7/15/1991
Celebrating 30-year Members Mr. and Mrs. David L. Swink Mr. and Mrs. James R. Borders Mr. and Mrs. Larry Boppe Dr. and Mrs. Paul K. Jaszewski Mr. and Mrs. Stephen M. Bynum Mr. and Dr. Jeffery P. Tarte Mr. and Mrs. Robert May Mrs. Mary Barker Mr. and Mrs. Michael Buckley
7/31/1991 8/15/1991 9/3/1991 9/7/1991 11/1/1991 11/6/1991 12/16/1991 3/9/1992 4/4/1992
Celebrating 30-year Members Mr. and Mrs. Ralph C. Jansen Mr. and Donna C. Wells Hall, III Mr. and Mrs. Alex Moyer Mr. and Mrs. Robert Fotsch Mr. and Mrs. Gary Clarke Mr. and Mrs. Ralph Angiuoli Mr. and Mrs. Michael Elliott Mr. and Mrs. Daniel Gardner Mr. and Mrs. Michael Robinson Dr. and Mrs. John H. Moore
4/25/1992 5/4/1992 5/12/1992 5/20/1992 5/27/1992 5/27/1992 6/3/1992 6/17/1992 7/8/1992 7/15/1992
Celebrating 30-year Members Mr. and Mrs. Blair Boggs Mr. and Mrs. Erman J. Evans, Jr. Dr. and Mrs. Donald S. Horner Mr. and Mrs. Gilbert A. LaFare Mr. and Mrs. Milton Parra Dr. Thomas F. Clark Mr. James Parenica and Ms. Carol Pontis
8/5/1992 10/4/1992 11/25/1992 12/16/1992 12/16/1992 12/16/1992 12/23/1992
2021 Golf Champions • Club Champion | Red Resener • Senior Club Champion | Larry Griffin Jr. • Men’s Mid-Amateur Champion | George Harris • Men’s Super-Senior Club Champion | Jim Johnson • Presidents Cup (Gross) | Ernie Young • Presidents Cup (Net) | George Harris • Tradition (Member-Guest) | Larry Griffin Jr. and Michael O’Connor (Guest) • Jones Cup (Member-Member) | Nathan Brown and Jody Roach
2021 Golf Champions (Women’s) • 18-Hole Member-Guest (Gross) | Toni Gadai, Susan Boursse, Denise Andersen and Devan Andersen (Guest) • 18-Hole Member-Guest (Net) | Blair Cohn, Kirsty Roach, Rebecca Burbridge (Guest), Shelly Leary (Guest) • 18-Hole Member-Member | Joan Bischoff and Cyndi Vasiloff • 9-Hole Member-Member | Eileen Robinson and Vernelle Ford • 9-Hole Member-Guest (Gross) | Ann Nicks and Mary Beth Hartman • 9-Hole Member-Guest (Net) | Maureen Pond and Maura Flint (Guest) • State Play Day Champion | Lisa Cirillo
2021 Golf Champions
• Mixed Club Champion David and Vernelle Ford • Mixed Member-Member David Ford, Vernelle Ford, David Gadai and Toni Gadai
2021 Golf Champions (Juniors) • Junior Club Champion | Hunter Justice • Boys 13-14 | Ryan Schreck • Boys 11-12 | Cade Redmond • Boys 9-10 | Dylan Roach • Boys 8 and Under | Owen Ovitsky • Girls 13-14 | Paisley Freda • Girls 8 and Under | Callie Freda • Junior Match Play Champion | Anthony Ovitsky
2021 Tennis Champions Member Guest Champions Ladies’ Open | Lori Scherrman and Janet Szilagyi Ladies’ 7.0 | Shannon Hirschfeld and Andrea McRorie Ladies’ 6.0 | Bonnie Zentner and Kristin VanStratt Men’s Open | James Banner and Rich Aseltine Mixed Double Champions Open | Todd and Lisa Moyer 7.0 | Bill and Julie Moore
Treasurer’s Report Mike Vowell, Board Treasurer
Finance Committee Mike Vowell | Treasurer Josh Dobi Curt Smith Troy Stafford Brian Kenna Cheri Guilfoyle George Eckes
Financial Review • • • • •
2021 Operating Results 2021 Capital Expenditures 2022 Budget Bank Debt Cash Status
2021 Highlights Challenges • Club shutdown multiple times, COVID-19 related expenses • Cancellation of Private Parties, Weddings and Monday Golf Outings Successes • $450,000.00 in capital cash reserves established for the first time • Getting loan agreement put together • Revamped the budgeting process for the future
Total Operating Revenues & Dues
Operating Results OPERATING RESULTS
(in 000’s)
2017 $4,100
2018 $4,375
2019 $4,597
2020 $4,855
2021 $5,147
Operating Revenues
$5,451
$5,754
$6,358
$5,141
$6,324
Cost of Goods Payroll Other Expenses Net before Depreciation
($1,691) ($5,475) ($2,365)
($1,785) ($5,802) ($2,532)
($1,963) ($6,455) ($2,665)
($1,610) ($5,972) ($2,407)
($1,831) ($6,724) ($2,775)
$20
$10
($129)
$7
$141
Dues
Food and Beverage Revenue
Golf
2021 Capital Expenditures (in 000’s)
Approved Capital Budget Clubhouse Golf Course Capital Lease Expense Food & Beverage Golf Shop Member Activities/Pool Fitness Tennis G&A Total 2021 Capital Expenditures
$2,600 $1,286 $239 $218 $141 $55 $40 $32 $26 $20 $2,057
2022 Operating Budget OPERATING BUDGET
(in 000’s) Dues Operating Revenue Cost of Goods Payroll Other Expenses Net
2018 Actual $4,375 $5,754 ($1,785) ($5,802) ($2,535) $10
2019 Actual $4,597 $6,358 ($1,963) ($6,455) ($2,665) ($129)
2020 Actual $4,855 $5,141 ($1,610) ($5,972) ($2,407) $7
2021 Actual $5,147 $6,324 ($1,831) ($6,724) ($2,775) $141
2022 Budget $5,628 $6,773 ($1,974) ($7,556) ($2,709) $0
Detail 2022 Capital Budget (in 000’s)
Food & Beverage Clubhouse Capital Lease Expense Golf Course Tennis Golf Shop Member Activities/Pool Fitness G&A Total 2022 Capital Budget
$295 $227 $222 $220 $109 $90 $34 $17 $14 $1,228
Long-Term Bank Debt
Financial Overview Guiding Principles • Dues and usage revenues fund operational costs • Initiation fees fund normal capital replacement/repairs and minor renovations • Monthly capital contribution and bank loans fund larger or major renovation projects Disciplined financial management following Board approved budget and conservative policies.
Membership New Members Full
YP
Sports
Tennis
Social
86
Total 81
74 67 62
35 28
26
23
21
9
9
7 2 2017
5
9
2018
27
31
29 19
9
13
13
1 2019
4
6
9
6 1
2020
2021
23
Membership Membership Upgrades
10
8
8
6
8
6 5 4
3
3
3
3
2 1 0
1 1 0 2017
2 1
1 0
0 2018
2 2 1
1 0
0
2 2 2
2019
0
0 2020
Social to Tennis
Social to Sports
Social to Full
Tennis to Full
Sports to Full
YP to Full
2021 Tennis to Sports
2
Membership Membership Attrition 38
32 27
27
26
19 14 9
2
9
3
2017
9
12
10
8
1
1
3
2018
3 0 Non-Resident
Full
2
Sport 2019
0 Tennis
9
8
Social
Total
6 1
3
2020
3
4
0 2021
Membership Membership Downgrades 9
9
6
9
6 5
5
4 3 2
2 1 1 1
2
2 1
1 0 0 0
2017
1
1 0
2018
0
2019
Full to Social
Full to Sport
Full to Tennis
Sport to Social
Tennis to Social ` Totals
1 1 1
1 1 1 1
0
0
2020 Sport to Tennis
2021
President’s Report George Searle, Board President
Our Mission and Vision Statement Mission Statement: To provide an exceptional lakefront country club experience for the enjoyment of members and guests. Vision Statement: The Peninsula Club will be The Carolina’s premier family-focused, member owned, private club.
New Leadership • • • •
Hired a new General Manager (November 2021) Hired a Director of Golf (April 2021) Hired a new Facilities Manager (August 2021) Promoted Clubhouse Manager (February 2021)
What We Did Do! • • • • • • •
We held 120 golf events We held 19 tennis events We held 54 social events We held 16 large scale family events We held 35 wine events We held 131 kids' events In June, we had the 30th(ish) year anniversary with over 500 people attending
What is on the Horizon Renovation Project- What has been done? • • • • • •
Formed committee Held Focus groups Communication Selected BWD Working to position the club for the future More on that later in the presentation
Ask of Members Participation! Serving on a committee or participating in club events and activities! Be a cheerleader of the cause! Help bring in new members with referrals!
The Peninsula Club “Promise” Employee Scholarship Fund The Peninsula Club's 'Promise' Scholarship Fund was established in 2019 to benefit selected current employees (and/or their eligible dependents), veterans and non-veterans, pursuing a degree at a higher education institution such as accredited colleges (two-or- four-year), vocational and/or technical/trade school.
The Peninsula Club “Promise” Employee Scholarship Fund • 2019
– 4x scholarships granted ($3,000.00 each) – Total = $12,000.00
• 2020
– 5x scholarships granted ($4,000.00 each) – Total = $20,000.00
• 2021
– 6x scholarships granted ($4,000.00 each) – Total = $24,000.00
***Total = $56,000.00 in scholarship awards since the establishment in 2019.
2021 Scholarship Recipients • • • • • • •
Madison Brickman Natasha Ladendorf Alec Goss Angela Linehan Monica Alvarado Clifflena Tiah Micah Mason
General Manager’s 2022 Preview Philip Barber, CCM
What we are working towards • Member experience vs. abundance of amenities • Doing a few things GREAT, rather than a lot of things mediocre/average • Creating a culture of genuine and thoughtful service • Branding and being the premiere club in the area
General Manager’s Report • Navigating the Labor Market (Yes, I know we are all tired of hearing about it) • Technology and the role it will have in the ability to provide services • Member buy-in and participation (Board and Committees) • You are the ultimate salesperson!
Next Generation Renovation Update
Next Generation Renovation Update Next Steps • Review all comments from Survey • Adjust the project based on feedback
Next Generation Renovation Update Next Steps • Identify additional Architects, General Contractors • Form committee for further input on projects outside the golf course
Election Results
Nominating Committee
Election Results
Recognition of Outgoing Directors
Outgoing Directors Ron Parks Amy Kazmierczk Mike Vowell
Old Business
New Business
Adjournment
Please be our guest for some complimentary appetizers and member signature bar in The Lakeside and The Veranda.