Q: Why should I give the club money? Aren’t we in good financial shape?

We have a reserve of roughly $70K to cover any emergency issues, maintenance, etc.  What we don’t have is the cash flow to hire a full-time manager or, if necessary, two people - a club manager and a lead director. 

Q: How will the money be used?

Primarily to hire a professional club manager/lead director.

Q: Will we have a say in how the money is spent?

We will continue to be transparent in how we manage our finances. Our goal is to hire a long-term, professional manager/lead director, expand our game offerings, maintain and upgrade our facilities and technical infrastructure, and make the Adobe Bridge Club experience fun and rewarding for our members.

Q: Will there be a public accounting of how this money is spent? 

Absolutely. We have always been transparent with our finances (we post our income-expense statement, and balance sheet, on a monthly basis).

Q: How is the search for a new club director coming?

We continue our local outreach, posted the job description online and with various clubs, at the Tucson Regional, and plan to expand the search across the south and southwest. And we’re considering advertising. Also, the Board is working hard to beef up its current roster of directors and reach out to other clubs locally. Board members plan to step in as necessary regarding day-to-day club management.

Q: Are you going to fundraise every year?

Our hope is that this puts us in the black for many years to come. It should allow us to focus on ways to strengthen our club without requiring additional support from our members. The last time we had a major fundraising effort was seven years ago. We’ve managed the funds diligently. We own the casita in full. We’ve paid down the debt on the main building from $234K to $73K.

Q: What is our current mortgage rate? 

4%  

Q: Why pay off the mortgage when our rate is so good? 

We are going to need cash to pay for a new club manager.  If we have to borrow money for salaries the borrowing rate will be higher. If we pay off our mortgage, we’ll have approx. $21K to support a salary (salaries).