The club is in very good financial shape thanks to your memberships and donations. All the money the Club earns goes back into the courts or to special programs to grow the sport of pickleball here in the Vero Beach area. No individual member of the Club gains monetarily from the Club’s operations.
Most of the Club’s money is held in accounts specifically designated for the renovation of the courts. The Club is anticipating a late April start date for construction. This renovation money is generated primarily through our GoFundMe fundraiser efforts. Other renovation money is raised by special events
The Club has a new License Agreement with the City of Vero Beach that began on January 1 of this year. The Agreement gives the Club greater exclusive access for its activities. The Agreement also requires the Club to take more financial responsibility over the physical courts and more legal liability arising from our use of the courts. Thus, our operational costs have risen.
To be prudent, the Club also needs to anticipate future capital needs. The Club is accumulating cash in a capital reserve account to meet its future anticipated needs and to provide for emergency repairs. One of the future anticipated needs, currently, is a future major renovation of the south courts. The Club increased membership fees to be better prepared for its future financial needs.
The Club raised the drop-in fees for a couple of reasons. One is to help finance current and future operations. Another important reason was to encourage people to play at non-peak hours. The courts, as you know, can become very crowded during the morning peak hours. The crowding creates long wait times for the Club’s members that the Club wants to avoid.