Truly private clubs can be exempt from federal income tax on their proceeds. However, as clubs adapt to a changing marketplace, they must work diligently to ensure they do not jeopardize their tax-exempt status.
The industry debate over how much a club should budget to maintain its golf course seems never-ending, and that’s understandable.The course consumes a significant portion of the cash required to run a club and it is also one of the most visible and member-impacting amenities, so a high degree of focus is justified. But just how much are clubs spending?
What is Disruptive Innovation? Historically, “disrupters” are visionaries who grasp how an existing idea, product or service can be improved upon, produced for less or made more accessible to millions. “Disrupters” don’t settle for “this is how we’ve always done it.” How can this type of innovation deliver a positive impact at your private club?
No matter the size or type of club, boards play a critical role in the success of the organization as a whole. One of the ways in which a board can, and should, monitor how much it is achieving is through frequent performance assessments.
A New Deal to Fill the NLRB; NLRB Partners with Justice Department, Adding More Scrutiny but also Offering Guidance; The Affordable Care Act’s “Employer Mandate” Delayed to 2015; New Tax for Self-Insured Clubs Due July 31; The DOMA Ruling: Updating Your Club’s Benefits to Meet the Law; and Minimum Wage Increases Trending Across the Country.
Trends, demographics and news from the club industry.
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