2021 Board Elections & Dues Schedule

The election of the 2021 GTYC Board of Directors and Flag Officers was conducted by mail with ballots tallied by three member tellers at the Fall Membership Meeting on Friday, September 25th. The election results were certified by Club Secretary Kim Marian Lovell.

2021 Board of Directors

Commodore: Bill Babel
Vice Commodore: Mark Clark
Rear Commodore: Petra Keuhnis

Board of Directors - New Directors

Elected for a three-year term,

2021 - 2023
Shannon Hicks
Tom Roop


Also proposed by Commodore Lovell is a motion for the vote of the membership regarding an increase in dues to $550 for Active Members (and corresponding increases for other membership classes according to the discounts specified in the bylaws), an annual assessment of $100 for all dues paying members (except Juniors)to fund a capital improvement fund, and an increase in the building fund initiation fee paid by new Active Members from $200 to $500. This motion was passed on September 25th by a majority of the membership in accordance with the GTYC bylaws.


Scheduled Dues for 2021:

Active Member: $550.00 

Senior Active: $467.50 

Associate: $440.00

Senior Associate: $374.00

Junior: $330.00

All dues paying members (except Juniors) will be assessed an additional $100.00 to fund the capital improvement fund


Background 

The Bylaws prescribe in Article IV Section 1 that, "Changes to an initiation fee, building fund fee, special assessments, and annual dues shall be recommended by the Board and placed before the membership for consideration at the Annual Fall Meeting or at a Special Meeting of the membership."

The Finance Committee continues to evaluate the financial viability of all aspects of our Club and makes the following recommendations to the Board and Members of the Club regarding our finances. 

The minimum annual carrying cost to own just the clubhouse, including taxes, mortgage insurance, and utilities is calculated to be $79,125.00 for 2020. This cost, when shared equally by the 150 equity members is $527 per member. The Finance Committee unanimously recommends the annual dues of the Active Members of the Grand Traverse Yacht Club be $550.

The Club was rebuilt a decade ago. While capital improvement projects have occurred since the fire, Clubhouse internals are nearing the end of their normal life cycles and will need attention over the course of this new decade. The Finance Committee continues to identify and quantify such capital improvement needs, working with the Board and her Committees, to develop, amend and execute an ongoing capital replacement schedule. 

Further, the Board has adopted a policy that the Club will build a capital reserve fund to support future needs and unanticipated emergencies. The Finance Committee recommends that all dues paying members, with the exception of Junior Associates, be assessed $100 per year to fund scheduled capital improvements and build a reserve fund sufficient to attend to unanticipated emergencies. 

The founding members of our Club established the Building Fund initiation fee to become an equity owner member at  $200. The Finance Committee unanimously recommends that the Building Fund Initiation Fee be set at $500.

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