August 2020
http://www.canadacreekranch.com
President’s Message
Hello, Members! It’s great to have the Ranch open for
business again! The extended shutdown and related
restrictions on our movements are reminders how fragile
our freedom is and how easily it can be curtailed.
But even in – or especially in – times of trouble, it’s
important for us to stop for a moment and look back, as
hindsight shows us how far we’ve come and also reminds
us how quickly good fortunes can change. It is no
exaggeration to say we’re living through turbulent and
troubling times – economically, socially, and politically.
In sharp contrast, our Club continues to provide a
peacefulness and stability that our members can count
on to help them preserve a sense of balance and provide
their families and guests a safe and restful haven.
As we enjoy the benefits our Club provides, we can’t
assume everything will continue as it is now without a
significant effort from all of us to preserve, protect, and
defend this retreat we care so much about. In particular,
the Club’s ongoing financial sustainability is going to need
our attention.
Previous President’s Messages have detailed CCR’s
economic rollercoaster ride - beginning with a $5.6 million
cash infusion from oil exploration in the mid-1970s and
ending in the Club’s inability to meet its monthly bills by
1990 – just a few years later. Those Messages applauded
the business expertise, legal resolve, and unwavering
persistence of the Boards and supportive Members who
rallied to overcome that dark period. Our financial
structures are significantly improved and financial
accounting, transparency, and accountability have been
raised to industry-leading standards. These
improvements enabled the Club to put itself back on track
financially while materially improving each individual’s
“member experience” through the acquisition of capital
assets and improvements in member services.
That experience has valuable lessons we can draw upon
to navigate through the economic challenges that are just
over the horizon.
Lesson #1: We must work together, not separately or
independently, for the good of the whole Club. While each
of us may experience the Club in our own way, it is only
by working cooperatively together that we can achieve
the most benefit for each of us.
• This is especially true of our Board of Directors. Our
bylaws make the Board responsible for setting the
direction of the Club and ensuring it is run responsibly
and with an eye toward its future sustainability. Each
year we elect new Directors, and the addition of one to
three new persons on the Board can change the dynamics
1
Congratulations to to this years Merritt Clark Award recipients,
Chuck and Nancy Thurston. Well deserved.
and the effectiveness with which the Board discharges
its responsibilities.
• With this in mind, this year’s Board has made a
significant effort to identify “best practices” that
successful private clubs employ to ensure their boards
always act with their club’s sustainability foremost in
their minds. These best practices will be used by future
CCR Boards to assess their practices against those of the
best run clubs. Employing industry best practices will
definitely aid each new CCR Board in quickly reaching
optimal performance while shortening the inevitable
period of adjustment to new board members.
Lesson #2: We cannot expect large returns on small
investments.
• The total of all the Club’s capital assets comes to millions
of dollars. Just the purchase price of our buildings,
equipment, and vehicles totals $5.8 million according to
our last audited financial report. Replacement costs for
those same assets are estimated to be more than $15
million.
Continued on page 7