Bravo Zulu

I am pleased to announce that the elevator loans are paid in full. This completes the largest undertaking by our membership since the construction of our club house. Many volunteer hours and personal donations went in to the initial construction of our elevator, which was an all hands efforts. Please take a moment to read the plaques in the elevator to see just how many members were involved. As a club we all pulled together to erect our elevator and to later pay for it through monthly assessments. In January a fund raising drive to “Burn Mortgage” was launched at the Commodores’ Ball by past Commodore Lois Watson and her committee (Jan Miller, Bud Norquist & Jack Verducci). Once again member’s pitched in together and enough money was raised to pay off one loan and part of a second. This effort plus the assessments collect during the year allowed us to pay off the last loan.

A joint special meeting of the 2011 & 2012 Board of Directors was held on November 29, 2011. A quorum of both the 2011 boards and the 2012 boards where present. Present where Jack Verducci (2011/2012), Mark Liddell (2011/2012), Gary Edwards (2011/2012), Mark Green (2011/2012), Laurel Reid (2011), Steve Basuino (2011), Joe Pratt (2011/2012), Matt Neumann 2011/2012), Chuck Johnson (2012), Gil McCoy (2012), Jim Manisim (2012), and Matt Martell (2012). John Douglas, who will be on the 2012 finance committee, was also present. Treasure Mark Green gave a presentation on the finical health of the club, which outlined the history of the finances of the club and included the payment schedule of the elevator loans.

On March 16, 2010, a special meeting of the general membership was called to discuss the pending dangers that the club was facing due to a series of circumstances. Projections where made that the club would run out of money by the end of 2011 if no changes where made. This meeting was a turning point for the club. Once again members rallied to reverse this trend. Changes were made. Expenses where cut and revenue from events was increased, to bring the club’s year end profit to $7,600.00, up from a loss the previous year. In 2011 these efforts where built upon by further reduction in expenses and further gains in revenue. This two year effort has put the club in the best financial condition of the last ten years.

A five year operating plan that includes taking care of deferred maintenance items was presented and reviewed. It was determined that if the club maintained its current pace we could continue operating in the black without the need to raise the dues or imposing a new assessment while continuing to maintain and operate the club.

A motion was made and seconded to end the assessment. The motion was carried unanimously by both the 2011 and 2012 board members present. The assessment ends on December 31, 2011. We start 2012 with money in the bank and the club debt free. All agreed that more important than the money is the good will that this will generate. The board of directors is committed to running the club as efficiently as possible and keeping our dues as low as we can to attract and keep members. We are here to serve. The club belongs to all of us if we can continue to work together and to be proud of what we have accomplished we will attract members. We are winners and everyone wants to be on the winning team.

Thank you all, job well done!

Jack Verducci
Commodore

*Bravo Zulu is a naval signal, conveyed by flaghoist or voice radio, meaning “Well Done”

A Special Thank You.

Everyone has contributed to paying off the elevators through the monthly assessments. We thank you all for your patience and faithfulness.

We want extend a special thank you to those who made an extra contribution. These generous contributions came at just the right time and have significantly improved the clubs financial position. Another plaque will be added to our elevator naming those who made contributions to the “Burn Mortgage” fund. The plaque will be dedicated at the 2012 Commodore’s Ball. Once again

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About Coyote Point Yacht Club

Coyote Point Yacht Club is located at Coyote Point Park in San Mateo, south of the Bay Bridge and north of the San Mateo Bridge. Views of San Francisco and the San Mateo Bridge/Oakland provide a pretty setting for events in the club house and outdoor activities in our backyard. BBQ facilities, showers for men and women, and free ice are available.
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