January 31, 2010
Sal Maiorana
Staff writer

For more than 80 years, Livingston Country Club quietly went about its business out in Geneseo, thinking that its business was doing just fine.

Two years ago, it found out it wasn’t.

For years the club had been borrowing money, mainly to pay for maintenance equipment or repairs, and it had accrued a line of credit of $100,000. Worried that the club would continue to borrow and not pay anything back, the lending bank laid down a 90-day deadline for repayment of the loan. If not met, the bank would seize control.

“We were no longer viewed as a good business partner; we were considered substandard,” said Livingston CC board president Dana Leonard. “The bank was relatively confident that we wouldn’t be able to pay because very rarely are businesses able to do that. There’s usually a reason you’re in debt that much.”

However, the leaders of the semi-private club not only came up with a way to pay off the bank and keep their club, they also secured its financial footing for years to come.

The board approached its membership and asked each to consider an ownership stake in the club through the purchase of $1,000 “equity units.” Anyone buying a unit would then have the opportunity to participate in any votes on club issues, plus receive a slight discount on their annual dues.

“What that did; it raised the funds that were necessary to bail us out of our economic jam and it clearly defined who the owners of the course were,” said George Gagnier, the sports information director at SUNY Geneseo and a 15-year Livingston member.

“There’s a different feeling amongst the membership because we all have a vested interest in the club now, and there’s a groundswell of support from the membership.”

Approximately 175 units were sold in just a couple months which enabled Livingston to pay off its debt and set up an emergency fund, and units are still being sold.

“We had that credit card mentality where you feel like you can get something for nothing, and then just pay it off later,” Leonard said. “Basically, we were robbing Peter to pay Paul. Now we’ve righted the ship, secured our financial future at least for the foreseeable future, and we continue to take steps to grow.”

MAIORANA@DemocratandChronicle.com

Remember, there are discounts for early renewal

PS: Don’t miss the opportunity to become an equity member.  Save yourself some money every year.

MEN

1ST  DENNY PEARSTON                                    41PTS

2ND DAN LIPPINCOTT                                        40

3RD DON SAVINO                                                38

4TH SCOTT HICKS                                              36

5TH MIKE GATES                                                 35

6TH DAVE D’APRILE                                            34

7TH DOUG WELCH                                             33

7TH GORDON CLARK                                        33

7TH ERIC BARNARD                                          33

LADIES

1ST  KARENNE ROBERTS                               32PTS

1ST  CAROLYN TORREY                                   32

1ST DENISE PEARSTON                                   32

Our golf course has faced some serious challenges in the past two years. Through it all the golfing family at LCC has endured. Now we face new and exciting challenges for the question no longer is can we survive but rather how will we grow and improve.

LCC will not accomplish those goals without your help. For some time a number of golfers have asked if they could become equity unit holders of LCC. Because of all of the turmoil of the last two years the Board simply did not have the time or the energy to focus on how to add new unit holders. BUT NOW IS THE TIME.

An equity unit in LCC costs $1,000. Our new By-Laws define an Equity Member as an individual that holds at least ONE or as many as THREE units. Each unit has one vote at membership meetings. In addition, this year unit holders are entitled to a discount of $50 per unit held on the annual dues–if paid in full by January 15th– and significant discounts on cart books. The 2010 dues form for Equity Members can be found here as is a notice concerning dues discounts and cart books.

Equity members have to pay their dues no later than March 1 or they lose their equity status. In addition the units are not currently transferable and equity members could be asked to pay an assessment on a per unit basis if the Club were to experience a deficit or a capital expense for which there were insufficient reserves. Gone are the days when we will borrow to cover operating shortfalls or new improvements without the approval of the membership.

Our By-Laws do provide that equity members can take a medical leave from the Club for an illness or injury and they also provide for a one time personal leave of one year at the sole discretion of the member.

WHY DO WE NEED NEW EQUITY MEMBERS? We have identified a number of projects that we think will improve the course and the golfing experience at LCC while also improving our golfing operations. We call it “Brian’s wish list.”  We also will begin to develop a long range capital maintenance and improvement fund to improve the course and to maintain the great course we all enjoy.

At a time when other clubs are facing dwindling membership and reduced revenues LCC has grown and gotten better. We have a new restaurant operation that will open in the spring with a fair lease and a great operator. We have cut our operating costs and maintained a close watch on our expenses. We have added new mowers and will have a brand new fleet of carts at no additional cost to the Club. Every Equity Member gets a monthly update during the golfing season on the financial condition of the Club.

We think LCC’s future is bright and hope that you will join us in this journey. If you are interested in becoming an Equity Member and want to hear more about the process just call one of the folks listed here. If you have already decided it’s time to take equity status then simply fill out this application and mail it along with your check to our address. The board has also approved a payment plan for those folks who would like to join but need to spread out their payments.

PLEASE NOTE: YOU CAN PAY IN FULL BEFORE JANUARY 15TH OR YOU CAN USE THE PAYMENT PLAN. UNDER THE PAYMENT PLAN YOU MUST PAY 1/5TH OF YOUR UNIT PURCHASE PRICE BY JANUARY 15TH. YOU CAN THEN MAKE FOUR MORE INSTALLMENTS FROM FEBRUARY 15TH THROUGH MAY 15TH. YOU ARE THEN ELIGIBLE FOR THE DUES DISCOUNT. We prefer you pay by check but if you wish to use your credit card there is an additional charge of $5.00 per transaction.

Just two years ago many people thought LCC was going to close. They were WRONG. Today LCC is on firmer ground than most area courses during difficult economic times. We think the best is yet to come.

Very truly yours,

– Dana Leonard, President LCC

What can I do you ask?  Well for starters:

1. Repair all divots.  You can see how fast a freshly repaired divot will regrow.

2. Keep your carts on the paths or in the rough as long as possible when going to your ball

3. Be prudent when you see wet areas.  Don’t leave marks from your cart or footprintg

4. Pick up your feet on the greens.  Don’t scuff.

5. Enter the traps from the low side and rake it when you leave from the same place.



If you have any questions, please don’t hesitate to call 585-123-4567

– Smitty