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MIYC Annual Member Meeting Presentation November, 2020
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Marco Island Yacht Club Annual Membership Meeting 17 November 2020
1
Agenda
Call to order & approval of minutes Introduction – GM and Committee Chairs Opening comments
Club Operations Financial Report Bridge Report
Agenda
Vote – Bylaw Revisions Committee Reports Presentation of Equity Certificates Committee Reports Q&A Introduction: New Board & Rear Commodore Board Special Recognition Adjourn
Opening Comments D. Everitt
2020 was a successful year ✓ Completed 3 consecutive years of positive operating income ✓ Completed refinance of mortgage and special financing for marina project ✓ Reached highest membership level in recent years
Opening Comments D. Everitt
2021 is a year of significant change ❑ Completing marina project ❑ Conversion of operating system ❑ Organization structure
Opening Comments D. Everitt
Fiscal 2020 and 2021 – COVID 19 ▪ Significant impact on operations ▪ Local impact ▪ Member responsibilities ▪ Club responsibilities
Opening Comments D. Everitt
COVID-19 Cases Reported Per Day Marco Island
5.0
4.5
4.0
3.5
3.0
2.5
2.0
1.5
1.0
0.5
0.0
Opening Comments D. Everitt
Updating MIYC COVID protocols ▪ Masks required any time not seated ▪ Bar and food service table side only ▪ Members & Guests will be reminded of protocols when deviations are observed
Operations & HR Committee M.A. Harlacker Staffing
27 Employees • Welcome to New General Manager – Joe Ceci • Currently interviewing for a new Dining / Bar Mgr. • Also looking for additional servers and maintenance • The management team will be hiring some additional employees to cover in-season business New Health Plan for Full-time Employees • Thank you to Tom Wentworth and Bob DeFeo • Florida Blue selected • Implemented November 1 st
COVID Impact
March 2020 - Staff Furloughed • MIYC GoFundMe Account created (Jon & Angela Holt) • $550 given to each staff member via debit cards • Rehired all of staff but one who moved out of the area All Weddings and Banquets cancelled for 2020 through beginning or 2021, but NOW – Thank You Pam ! • Booked for Fiscal 2021 (October 1) • 4 Banquets • 2 Weddings in 2020; 2 more in 2021 • 9 Just Friends Banquets. (Jan – Sept 2021) • 2020 (so far)- 5 Banquets; 1 Wedding
2020 Projects
• Cleaned and touched up (painting) all of the lanai chairs and tables • The brass throughout the Clubhouse Professionally cleaned and polished • Re-stained columns, bar area and walls in Dockside Lounge cleaned • All carpets professionally cleaned • Sealed/Painted both Kitchen and Prep area floors • Sprinkler systems removed due to new Marina project • New look for Harbor Room (Mariners’ Fund Report)
Committee Members
• Bob Aber Dining Menu Input • Tom Wentworth Member Involvement • Joan Gorman IT implementation • Angela Holt Staffing & Venue • Kevin Hennessy HR Issues • MA Harlacker “Getting to Know You”
Hours of Operation
Lunch Tues – Sat Dinner Wed – Sat
11:30 AM – 2:30 PM 5:30 PM – 7:30 PM
Sunday Brunch 10:00 AM – 2:00 PM Sunday Lighter Fare 3:00 PM – 7:00 PM
Finance Committee Report G. Gorman
Finance Committee Members • Bruce Kraemer (Asst. Treasurer) • David Caruso • Bob DeFeo • Susan Hieftje • Jon Holt • Bill Wallen
Finance Committee Projects
• SBA EIDL Loan $10,000 • Paycheck Protection Program Loan $154,856 • Possible Forgiveness $150,189 • Marina Financing
$4.75 M
• Revised Budget in May due to COVID • Improved IT Security • Paperless Back Office o Auto pay and website payments o Eliminate paper checks • New IT System - Northstar
Statement of Activities
Fiscal 2020 Year-to-Date
$1,600
$1,400
$1,200
$1,000
$800
$600
$400
$200
$0
Revenue
Gross Profit
Payroll
Other Expenses
Total Ops Inc/Loss
Actual
Budget
Prior Year
Operating Income
2020 YTD
$140
$120
$100
$80
$60
$40
$20
$0
Total Ops Inc/Loss
Actual
Budget
Prior Year
Cash Flow - Operations
Fiscal Year by Month In $ thousands
$700
$600
$500
$400
$300
$200
$100
$0
Sep-19 Oct
Nov Dec Jan Feb Mar
Apr May Jun Jul
Aug Sep-20
EOM
Operating Plan 2021
Fiscal Year - Compare
$1,800
$1,600
$1,400
$1,200
$1,000
$800
$600
$400
$200
$0
Revenue
Gross Profit
Payroll
Other Expenses
Total Ops Inc/Loss
Budget 2021 Actual 2020 Variance
Operating Plan 2021
Revenue
F&B
Banquets
Ships Store
Advertising & Promo
Membership
Sailin Center
Boat Slips
Administration
Repairs & Maint
Debt Service
Operating Plan 2021
Department
Revenue
CGS
Expenses Net Profit
F&B Total
$830,909 $278,713 $708,825 $156,089
Ships Store
$30,300 $20,694
$7,505
$2,191
Advertising/Promotion
$2,150
$15,040 $12,890
Membership
$879,178
$25,898 $853,280
Sailing Center
$31,435
$16,364 $15,071
Boat Slips
$13,080
$23,260 $10,180
Administration
$3,000
$545218 $542,218
Repairs/Maintenance
$369
$115,492 $115,123
Total
$1,790,421 $299,317 $1,457,602 $34,042
Marina Development Budget
Description
Original Budget
Expense to Date Remaining Budget
Permitting
$40,000
$29,804
$10,196
Design
$277,000
$93,000
$184,000
Construction
$4,670,711
$888,751
$3,178,960
Engineering
$252,720
$42,307
$210,413
Legal/Other
$125,000
$25,956
$99,044
Insurance/Accting
$1,475
$1,475
$0
Sales/Marketing
$50,000
$11,807
$38,193
Landscaping
$65,000
$7,397
$57,603
Interest Expense
$833,340
$2,710
$830,630
Total
$6,315,246
$1,103,208
$5,212,039
Bridge Report Ray Rosenberg
Cruise Schedule 2021
Date
Location/Event
NOV 14
FCYC – Sarasota Yacht Club (Virtual) Legacy Harbour (Veranda Thanksgiving) Dock Party/Holiday Parade - Marco Island
NOV 25-28
DEC 12
JAN 8-12 JAN 12-14
FCYC – Key Biscayne Yacht Club (2021 Schedule TBD)
Naples Sailing & Yacht Club
JAN 14
Day Cruise Naples Sailing & Yacht Club Blessing of the Fleet - Marco Island
FEB 6
FEB 5 – MAR 6 Florida Loop MAR 1
Scavenger Hunt
MAR 12-14
FCYC – The Florida Yacht Club
Bridge Report Ray Rosenberg
Cruise Schedule 2021
Date
Location/Event
MAR 11 – 16 Venice and Sarasota APR 5
Day Cruise – Naples Yacht Club
APR 9 – 17 MAY 14 – 16
BVI – Charter Fleet
FCYC – Venice Yacht Club
May 17 – JUN 14 Bahamas JUN 15 – 20
Florida Keys & Dry Tortugas
Legacy Harbour (4 th of July BBQ & Fireworks)
JUL 3 – 5 JUL 9 – 11
FCYC - TBA
AUG 30
AMA French Cruise – Barcelona to Paris
SEP 10 – 13 NOV 12-14
FCYC – Bird Key Yacht Club
FCYC - TBA
DEC 11
Dock Party/Holiday Parade - MIYC
• Voting:
• Bylaw changes • Presentation of Equity Certificates
25
Member Events Committee Angela Holt
Committee Members • Angela Holt, Chair
• Alice Jobe • Carri Kendall • Marguerite Steeves • Nancy Traiser • Kelley Wentworth Advisory • Vicki Bretthauer • Michelle Hennessy • Linda Marr
• Patti Cohen • Deb deVries • Russ Doeringer • Cara Dubay • Ellie Everitt • MA Harlacker • Jon Holt
Member Events Committee Angela Holt
UPCOMING EVENTS This Saturday Country Western Jam Session & Toys for Tots Fundraiser
December 5
Member Holiday Party
December 12 Christmas Boat Parade
December 18
Ugly Sweater Contest
December 31 New Year’s Eve