Friday, May 11th, 2012
Parents, enroll your junior sailor in EYC lessons as early as you can. Space is limited, enrollment is running 60% ahead of 2011, and some of the most popular sessions and levels are 80% or more full.
For more information about EYC lessons, and to enroll, go to www.eyc.org/lessons
Friday, April 20th, 2012
In an economic environment where many not-for-profits, charities, and private clubs are struggling to avoid membership declines, service cuts, debt, and financial losses, the EYC remains financially healthy and has a large, growing and loyal membership.
Every EYC member can be proud of the part that he or she plays in helping the EYC achieve its mission, but special thanks must go to our scores of unpaid member volunteers. The EYC could not survive even a year without the countless hours of work donated by our volunteers — officers, directors, committee members, parents, juniors, and other volunteers — to make the EYC better for everyone.
At the EYC Board of Directors meeting on April 14, 2012, the EYC’s Treasurer, Deb Ritter, reported that the EYC is financially healthy.
In our 2011 fiscal year ended October 31, 2011, the EYC had $145,914 in revenues and $142,470 in expenses. Our chief sources of revenue in 2011 were lessons ($68,372 net of sales commissions), membership dues ($56,420), slip rentals ($11,655), donations ($2,100), special events ($2766), and profits from merchandise sales to members ($3,136). Our major expense categories were wages and payroll taxes ($77,127), non-personnel expenses including supplies, boat repair, purchases of boats and sails, and printing ($31,145), occupancy expenses such as utilities, clubhouse and dock maintenance ($10,814) and other miscellaneous expenses such as insurance, trophies, and organizational dues ($14,206).
At the end of our 2011 fiscal year, we had $63,940 in cash and securities, and current liabilities of less than $1,000. The Board of Directors believes that this amount of cash, which represents well over a year’s fixed expenses, is an adequate operating cash cushion.
The EYC carries no long-term debt. Our fixed assets consist mostly of leasehold improvements to our clubhouse and pier, and equipment such as boats and sails.
As of April 11, 2012, with most of the 2012 membership dues collected and a good start on 2012 lesson registrations, we had $160,833 in cash and no current liabilities. The EYC’s revenues from the start of the current fiscal year on November 1, 2011 through April 11, 2012 were $114,207, representing a 69% increase over the same period in the previous fiscal year. During the same period the EYC’s expenses were only $6,842, a decrease of over 59% from the expenses incurred in the same period in the previous fiscal year. The increase in revenue year-over-year was due to an increase in donations, an increase in lesson enrollment numbers of over 60%, a very high percentage of early member renewal, more members, and modest increases in membership dues rates and lesson tuition rates from 2011 levels. The EYC’s revenues mostly come in prior to the start of the summer season, while most of the EYC’s expenses are incurred in June, July and August.
Our membership chairman, Nancy Claypool, reported that in the current membership year ending May 31, 2012, we have 465 paid members of all classes, including 83 Student members. In our 2011 fiscal year we had 40 new Family, Senior and Single members, which may be an EYC record.
For the membership year beginning June 1, 2012, as of April 11, our paid membership was 226 Family members, 86 Senior members, 27 Single members, and 23 Life members, plus 4 Honorary members. Those numbers include 22 new Family, Single and Senior members who have already joined for 2012! In addition, for 2012 we already have 35 Student members.
Some 2011 members have not yet renewed for 2012, so we expect to add additional Family, Senior and Individual members as the summer season approaches. We will add numerous Student members as lesson enrollment continues into the 2012 season.
Wednesday, April 18th, 2012
New in 2012: all EYC members (and parents of Student members) are invited to an informal meeting of the EYC’s members. At the meeting, there will be a very short presentation about the state of the EYC, the EYC’s operations, and the services offered to EYC members. The bulk of the meeting will be devoted to taking questions, suggestions and feedback from members to help improve the EYC in 2012. In addition, the EYC is in need of various committee volunteers. If you are interested in volunteering at the EYC, you could attend this meeting to hear about the various needs and opportunities available.
The EYC’s Commodore, other executive officers, members of the Board of Directors and key committee chairpersons will be in attendance to take your feedback and answer your questions.
The meeting will be at 5:00 p.m. on Saturday, June 16 and will last no more than one hour. Immediately after the meeting, there will be a short ceremony in which former EYC Commodore Malcolm D. Vail, Sr. will be inducted into the Hall of Fame of the Lake Michigan Sail Racing Federation. The EYC’s first social event of the summer, the Fyr Bal Family Cookout, will begin immediately after the induction ceremony.
This meeting of the EYC’s members is informal; therefore, no official action of the EYC’s members will be taken at the meeting.
Members who are unable to attend the meeting but who have questions, suggestions or feedback can contact members of the EYC’s board, EYC officers, and EYC committee members by going to www.eyc.org/contactus
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P.O. Box 331 10071 Water Street Ephraim, WI 54211
Summer Phone 920-854-7107
The Ephraim Yacht Club is a family oriented non-profit organization focused on forwarding sailing education and racing to students of all ages located in the town of Ephraim, in Door County, Wisconsin on beautiful Eagle Harbor.