Fi•du•ci•ar•y (noun): a trustee or a manager entrusted to control property or to act on behalf of and for the benefit of another. Surprise and concern are two emotions we often encounter when club managers and directors learn from us they may be considered fiduciaries
During these difficult times for clubs, it might seem odd to talk about governance issues when clubs are focusing on serious concerns such as revenue growth, lack of new members, cost containment, type of club structure, i.e., nonprofit to for profit, and in some instances,
This article is the second in a special six-part series commemorating the 50th anniversary of the National Club Association. Over the years, NCA has kept the private club industry informed, engaged and protected from legislative, regulatory and legal issues that threatened the rights and privileges of
42% of employees are satisfied with benefits, up 5% since the recession The 8th annual Study of Employee Benefits Trends, conducted by MetLife in late 2009, indicates that employee benefits have weathered the economic storm with only modest reductions in most cases. Although many employees experienced
The economic tumult of the last few years has driven club developers to make unprecedented changes in their exit strategies. Owners of private clubs (not owned by members) are selling to member groups, and developer-controlled member-owned clubs are looking at early or delayed turnover transactions.
Legal issues surrounding private club membership encompasses a variety of topics, from creating and applying bylaws and the membership admission process to membership discipline, statutory interventions and dispute resolution procedures. One of the most frequently asked questions NCA receives about membership law deals with the
Are you PCI compliant? If you take credit card payments, you’d better be. The Payment Card Industry Data Security Standard (PCI DSS) was designed to ensure that any organization that processes, stores, or transmits credit card information does so in a secure environment. In basic terms,
Following are some frequently asked questions regarding copyrighted music: Q: If CDs are purchased in a retail store, can a club play them at events and activities? A: Buying a CD doesn’t convey the legal right to play it in a business or public place.
“The most terrifying words in the English language are: I’m from the government and I’m here to help.” – Ronald Reagan Although this quote from President Ronald Reagan always elicits a chuckle, the truth is that often times, the actions our government takes are no laughing
Oscar Wilde once said, “the only thing worse than being talked about is not being talked about.” That is the essence of “buzz”—a current day expression of an age-old marketing practice known as “word-of-mouth” marketing. Most of today’s leading social networking platforms, i.e. Facebook, Twitter