107th Annual Meeting 2026 Presentation | Dallas Athletic Club

DALLAS ATHLETIC CLUB

WEDNESDAY, MARCH 11

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Board of Directors

President - Whitney Ragsdale

Tim O’Brien

Kris Moldovan

Justin Thompson

Scott Dooley, DDS

Paul Broome

David Brock

Kim Elliott

Charlie Milner

Recognition of Past Presidents

Lance Lane: 2022–2024

Warren Sibley: 2020–2022

Mike Moran: 2015–2016

Denward Freeman: 2013–2015

Ben Poole: 2009–2011

Ray Walker: 2006–2007

Bill Huff : 1994–1996;2005–2006

Marc Lyons: 1996–1998

Carl Mayhall: 1990–1991

Will Baker: 1989–1990

Remembrance and Moment of Silence

SHARON ELLIS

Member Since 1907

CATHY JOHNSON

Member Since 2004

MARY SHARP

Member Since 1963

DONALD MILLENDER SR.

Member Since 1976

BRENDA PRINE

Member Since 2005

ALFREDO JIMENEZ

Member Since 2019

ROSE KADEREIT

Member Since 1995

SCOTT JOHNSON

Member Since 2018

ROBERT NELSON

Member Since 1997

BRENT BURKHART

DAC General Manager since 2011

President’s Report

Committee Service Recognition Finance Committee

Scholarship Committee

Membership Committee

Golf and Grounds Committee

House Committee

Tennis Committee

Strategic Planning Committee

Governance Committee

Nominating Committee

Mission

Dallas Athletic Club is committed to enhancing the social and athletic lifestyles of its members by promoting a culture of warm hospitality, personalized service, quality amenities, and relevant programs that meet the diverse needs of its membership.

Vision

A premier private athletic and social club that feels like a “home away f rom home” a place where families, couples, and individuals enjoy an active, social lifestyle and build lasting memories.

Values

Warm Hospitality

Personalized Service

Quality Amenities & Programs Club Community and

Social Engagement

Active & Healthy Lifestyles

Every initiative, investment, and decision this yearwas guided by our Mission, Vision, and Core Values.

From capital improvements to member programming and governance practices, ourfocus remains constant: Delivering an exceptional Club experience today while protecting the legacy of tomorrow.

Celebrating a Strong Year Together

Thankyou to our membership for making 2025 a year defined by connection, growth, and shared experiences!

Leadership and Team

Welcomed Renaldo Chiang, PGA to the team in February

Welcomed Bernie Garces to the team in August

Welcomed Stephen Burkhart, CCM, CCE as General Manager in November

Chef Michael Lamping, CEC was selected to join the United States Culinary Olympic Team

Sous Chef Torian Jenkins C.S.C. won Chef of the year for the Dallas Chapter of The American Culinary Federation Texas Chefs Associatio

Club & Facility Enhancements

Completed the first phase of the Blue Course renovations

Completed a full tear-out and rebuild of the four original tennis courts

Celebrating a Strong Year Together

Recognizing the leaders who guided the Club with stability and care during our search for a new General Manager.

PHIL CALLAHAN Assistant General Manager

CASSIE THAMES Chief Financial Oficer THANK YOU!

A Peek into 2026

Guided bythoughtful leadership and strategic planning to ensure continued strength and sustainabilityfor generations to come.

We will continue strengthening good governance by encouraging thoughtful member involvement and active committee participation. Initiatives such as expanded committee outreach and volunteer engagement help ensure decisions reflectthe voice and long-term interests of our membership.

Fiscal responsibility remains a top priority as we utilize Club Benchmarking to guide informed, data-driven decision making.This process allows us to evaluate long-term capital needs, plan responsibly, and ensure the Club’s financial health remains strong foryears to come.

We will continue advancing strategic planning efforts that align today’s decisions with the Club’s long-term vision. By thoughtfully prioritizing investments and initiatives, we are positioning the Club to remain strong, relevant, and exceptional forfuture generations.

Stephen Burkhart, CCM, CCE

General Manager's Report

2026 Areas of Focus Operational Improvements

Member Experience

Service

Manager Development

Surveys

Member Communication and Engagement

Improved Communication Committee Service

Creative and Exceptional Programming

2026 Areas of Focus

Thoughtful and Engaging Communication

By utilizing multiple platforms, we plan to make it easier than ever to stay connected with everything happening at the Club.

From informative emails and timely text messages to convenient push notifications, we want to streamline our communication to reach you wherever you are.

On social media, we are excited to step up our game with engaging posts on Instagram, Facebook, and even TikTok, bringing the club experience to life through videos, photos, and updates.

Service and Engagement

How are we getting better?

New twist to staff orientations A comprehensive strategic plan for F&B Opportunities for staff to be involved with continuing education. 1 2 3

Advancing Our Team: Promotions & New Leaders

Management Team

Finance Committee

oran ock ade iott

James Sutton Ross Gilbert Trey Chapman

hen Burkhart, CCM, CCE

General Manager

Cassie Thames Chief Financial Officer

Operating Revenue & Expenses

Cumulative growth rate of 42% Operating Revenue & Expenses over the past 6 years have risen proportionately.

REVENUE * EXPENSES Does not include initiation fees or eminent domain proceeds

$ 12,940,070 $ 15,119,676 $ 17,791,022 $ 19,158,915 $ 20,666,566 $ 22,175,510 $ 11,548,135 $ 14,059,761 $ 16,907,065 $ 17,824,191 $ 19,316,910 $ 19,849,304

Cash from Operations

Cash from Operations measures how the Club is being managed. It includes dues, golf, food & beverage revenues less expenses. It does not include initiation fees.

Excess Cash from Operations is used for capital projects.

2020 Cash from Operations - $ 1,391,935

2021 Cash from Operations - $ 1,009,915

2022 Cash from Operations - $ 883,957

2023 Cash from Operations - $ 1,334,724

2024 Cash from Operations - $ 1,349,656

2025 Cash from Operations - $ 2,326,206

Payroll

The most significant factor when delivering an exceptional member experience is payroll. Payroll has steadily increased over the past six years, but measured as a % of operating revenue it has remained stable. Payroll includes wages, benefits and employee meals.

2025 Repair & Replacement Capital Projects

Agronomy

Mowers, rollers, fairway reels, greens groomer, excavator, landscaping, fencing and utility carts

Golf

Range Equipment, range mats, range picker, and shop fixtures

Tennis

Resurface tennis courts, patio furniture and landscaping

Food & Beverage

Refrigeration, smoker, and kitchen equipment

Facilities

Ladies locker room renovations, plumbing mainline repairs, security cameras, maintenance van, audio visual upgrades, Elm ceiling repairs, air conditioners, and miscellaneous $ 444,857 $ 48,127 $ 136,772 $ 373,441 $ 98,941 TOTAL $ 1,102,138

2025 Strategic / Aspirational Capital Projects

All 2025 aspirational capital projects were completed with cash reserves; no additional bank financing was required.

Blue Course Renovations - Phase 1

Irrigation

Course Redesign

Pump Station

Cart Paths

Walk Bridge

Architect Fees

Tennis

Rebuild Courts #1-4 $ 5,845,052 $ 575,635

Over the past five years the Club has completed over $24 million dollars in strategic capital projects. With $18 million of that funded through dues, net income and initiation fees.

TOTAL $ 6,420,687

Cash

$4,239,073

How healthy is the Club financially?

Debt

$9,492,949

The borrowing rate on our debt is 3.5%

Our Debt to Revenue ratio is 38%

Our Debt to Equity Ratio is 29%

Our cash reserves for future projects are $1.4million

Scholarship Report

Chairman - Justin Thompson

The Scholarship fund is managed by Community Foundations of Texas and currently has a balance of $700,000.

Brent Burkhart Memorial Scholarship Recipients

In 2025 we awarded a total of $60,000 in scholarships

Membership Committee

Membership Highlights

Thecommitteesuccessfully implementedandoversawthe newinitiationfeedeposit process,requiringcandidates nearingthetopofthewaitlistto submita50%deposit.

Thecommitteeestablisheda recommendationtolimitwaitlist depositdeadlineextensionsto30 daystopreservefairnessand waitlistintegrity.

Thecommitteebegan developingaframeworkto expandcommitteeparticipation inthevettingprocesswithout requiringabylawchange.

Thecommitteeproposed revisionstotheGold Membershippolicytocreate additionalGolfcategory openings,increaseClubrevenue, andprovidelong-tenured memberswithameaningful transitionoption.

Membership Highlights

There are currently 222 candidates on the waitlist, indicating steady interest and demand. Of those, 52% are current DAC members, reflecting strong ongoing engagement within the existing membership.

Scott Abegg

David Aughinbaugh

Louis Ayoob

David Bower

Thomas Brand

David Brock

Thomas Brown

Rick Carroll

Evan Clark

Clark Collier

Ashley Collins

Greg Collins

Doug Conner

Sami Constantine

Zach Davis

Membership Highlights

Thank you to our Member Sponsors !

Mike Dement

Jon Dormer

William Estes

John Fant Matt Fisher

John Fox

Davis Gibbs

Ross Gilbert

Don Gordon

Robert Goudge

Steve Haas

Steven Harris

Wes Henry Grant Henson

Heather Jett

Kyle Jett

George Kranich

James Leggett

Cody Mason

Drew McDonald

Clay McNutt

Charlie Milner

James Miller

Sam Miller

Michael Moran

Bret Mullenix

Justin Neff

Danielle Oliver

Jim Parkin

Todd Parks

Samantha Parsons

Claire Phillips

Thomas Rettinger

Brian Russell

James Ryan

Matt Savatsky

Andrew Schmeltz

Ed Sella

Chris Shaw

Jonathan Shortt

Deede Signoretto

Warren Sibley

Mark Simpsen

Daniel Sisk

Brandon Snyder

Drew Solomon

Michel Stephan Joe Theriot

Mahesh Thiagarajah

Newton Thomas Chris Trampe

Amy Trifone

Skip Van Der Kar

Grayson Wafford

Grant Williamson

Scott Winslett

Membership Highlights

Welcome New Members!

Peter Aburrow & Krista Aburrow

Jake Beck & Chelsea Beck

Ben Boudreaux & Melissa Pestalozzi

Andy Chagan & Poonam Chagan

Brian Clements & Keri Clements

Linden Collins & Austin Dennard

Andrew Crites & Melinda Crites

Dave Danicic & Jill Olickan-Danici

Richard Dopson & Alexis Dopson

Thomas Edwards & Mary Edwards

Brad Ferguson & Emily Ferguson

Matt Fisher & Sam Fisher

Chris Holder & Wendy Holder

Ted Holt & Morgan Holt

Colin Hudson & Vanessa Ferrero

Cramer Hurt & Katy Hurt

Chad Jeske & Nikki Jeske

Jansen Klefeker & Olivia Klefeker

David Lacey & Jessica Lacey

Ryan Lanning & Kylie Lanning

Loren Lehnen & Monica Lehnen

Cole Linburg & Jes Linburg

James Long & Maria Long

John Lods & Taylor Lods

Bryant McFall & Tish McFall

Matt Mistretta & Jessica Mistretta

Colin Park & Lindsey Park

Scott Paulson & Erin Lampson

Jack Snider & Hope Snider

Ian Smith & Kit Smith

Patrick Slaughter & Rachel Slaughter

Sam Stephan

Kyle Thompson & Lindsey Thompson

Corey Thomas & CareyAnn Thomas

Ryan Van Der Kar & Catherine Van Der Kar

Fritz Waldvogel & Anna Waldogel

Chet Wilson & Kelsi Wilson

Michael McWilliams & Liz McWilliams

Katie Witowski & Nate Witowski

Chairman - Tim O’Brien

Golf & Grounds Committee

Eric Konrade

August Claybrook

Andrew Kirkpatrick

Scott Winslett

Tommy Mann

Robert Campbell

Lance Lane

Peyton Boddie

Wyatt Horton (MGA President)

Steve Combest (MGA President)

Rhonda Cameron (WGA President)

Ashley Knudson (WGA President)

Stephen Burkhart, CCM, CCE

General Manager

Renaldo Chiang, PGA Director of Golf

Travis Moore

Golf Course Superintendent

In 2025, total rounds reached 52,960, reflecting stable overall activity. Gold rounds (32,665) surpassed Blue rounds (20,295)

Rounds Summary

2021 Total Rounds: 57,329

2022 Total Rounds: 53,352

2023 Total Rounds: 47,775

2024 Total Rounds: 53,638

2025 Total Rounds: 52,960

Thisyearwemademeaningful improvementstoourMember-Guest, “Tradition”,withafocusonelevatingboth theexperienceandtheenergyaroundthe event.Werefinedtheoverallflowofthe tournament,enhancedthespousepartyto makeitatruehighlightoftheweek,and upgradedtheteegiftstobetterreflect thestatureoftheevent.

Event Enhancements

Thisyearweintroducedthefirst-ever MastersPar3Pop-UpeventattheClub, creatingafreshandexcitingwayfor memberstoengagearoundoneofgolf’s mosticonicweeks.Byactivatingtheshort gameareaandtransformingitintoaPar3 experience,wecreatedarelaxed,fun environmentthatwelcomed playersofalllevels.

Thisyearweintroducedthe Holiday Market,activatingauniquespacewithin theclubandtransformingitintoafestive, shoppingexperienceforourmembers.It wasagreatcollaborationacrossall departmentsgolf,food&beverage, events,andtheentireLeadershipteam

MoneyBallbecameagreatmid-week activationthisyear,bringingconsistent energyandfriendlycompetitiontothe Clubintheeveningsthattraditionallyfelt quieter.Averagingaround30playerseach week,itcreatedafun,relaxedatmosphere whilestillgivingmemberssomething competitivetoplayfor.

Golf

Shop Retail Sales – Golf Shop sales were $1,450,380 COS – 84%

Product Mix Refresh (PMIX) – We reinvested in a stronger, more current product assortment designed to drive future sell-through and position the shop for improved margin performance moving forward. This was a proactive year focused on resetting, strengthening presentation, and building a foundation for healthier inventory turns and improved profitability in the seasons ahead.

Operational Improvements: Golf Shop

This year we made a purposeful investment in upgrading the Golf Shop, adding new fixtures and thoughtfully opening up the overall visual flow of the space. The goal was to create a cleaner, more elevated environment that makes it easier for members to move comfortably, see our inventory clearly, and enjoy the shopping experience. By reducing visual clutter and improving presentation, we’ve created a more inviting and upscale retail atmosphere that better showcases our brands and reflects the standard of the Club.

Operational Improvements: Communications

This year we made a strong push to increase daily communication within the Golf Shop by introducing our morning message. Each day, members receive a clear snapshot of course availability, upcoming events, daily news, weather updates, and important reminders.

Operational Improvements: Practice Facility

This year we made a very intentional upgrade to our practice facilities with all new fixtures from RHI, giving the space a cleaner, more polished look that better reflects the standard of DAC. We focused on small touches that would elevate the overall look like black alignment sticks, matching seating, range towels, practice/warmup tools and more. We introduced a new amenities wagon to enhance the member experience while also eliminating unnecessary clutter to improve flow and organization throughout the practice area. The result is a mor l i l i onment that feels s from t rrive to warm up.

Blue Course Phase 1

Critical Infrastructure Replacement

Irrigation

Cart Paths

Drainage

Water features

Added playability improvements

New tees

Tree work

Mowing patterns

Use of improved bermudagrass in roughs

Remained open in some capacity for most of project

Irrigation

1300+ Full size sprinklers

5+ miles of mainline pipe

Precise water management

Irrigation- Pump Station

Better location, New intake Increased capacity

More efficient

Before After

Cart Paths

4 miles of new paths

Re-routed for better aesthetics

Drainage Focus

on high play areas

Pond overflow repair on #2 and Driving Range

Water Features

New power and pumps for #5 Blue Lake bank improvements and waterfall repairs on #11 Blue

New Tees

230 yards added More flexibility in course setup Better traffic disbursement

10+ Acres of New Turf

Tif Tuf planted in several areas

Better for drought, shade, and traffic

In-House Drainage Improvements on Multiple Greens

Driving Range Work During #2 Pond Repairs

635 Work on Holes #4 and #5 Blue

House Committee

Chairman

Carlton Johnson

Tom Bridwell

Amy Moore

James Sutton

Bill Brooks

Dustin Smith

Kelly Forbes

Lee Ann Riley

Joel Gilhang

Stephen Burkhart, CCM, CCE

General Manager

Phil Callahan

Assistant General Manager

Macon Simonson

Clubhouse Manager

Michael Lamping, CEC

Executive Chef

Holiday Market Christmas Tree Lighting Parent Child Fishing Tournament

CHRISTMAS TREE

LIGHTING

Signature Events Pappy Van Winkle Tasting Little Chef’s Cooking Class

PARENT CHILD FISHING TOURNEMENT

Father Daughter Dan Sprin Camp

HOLIDAY MARKET

LITTLE CHEF’S COOKING CLASS

FATHER DAUGHTER DANCE

2025 Food and Beverage Highlights

Successfullyimplementednew seasonalmenuformatsand rollouts,incorporatingstructured feedbacktoenhancemember satisfactionanddining engagement.Themenusrotate every8weeks.

Developedastreamlined frameworkformemberdining surveys,includingconcise formatswithcommentboxesand post-diningtextdeliveryto strengthenfeedbackcollection andelevatetheoverallmember experience.(ComingSoon!)

RickyAlbiarwaspromotedtothe FoodandBeverageManagement Team,recognizingleadership growthandcommitmentto excellence.

Front Gate Improvements

The committee provided input that led to front gate security upgrades, including guest and vendor sign-in logs, welcome passes, iPads for attendants, expanded gate hours, standardized breaks, and the installation of the Avigilon callbox system.

Member Feedback Happometer Survey (Coming Soon!)

Members will receive a brief survey via text following a minimum $15 spend at any Club dining outlet.

Easy Participation: Ensure your current cell phone number is on file in your Northstar member profile to receive surveys.

Your Voice Matters: Member feedback helps leadership understand preferences, celebrate service successes, and identify opportunities for improvement.

Enhancing the Experience: Timely insights allow us to refine offerings, elevate service standards, and ensure every visit reflects the excellence members expect.

Tennis Committee

Chairman - Kim Elliott

Brian Kraft

Ashley Carothers

Zach Jacques

Jonathan Shortt

Marc Schmidt

Jennifer Willson

Sally Roberts

Shannon DeVilbiss

Blair Wheeler

Whitney Ragsdale

Stephen Burkhart, CCM, CCE General Manager

Natalia Prinz Director of Tennis

2025 Winners

Member-Member:

Samantha Phillips and Sarahbeth Cedillo

Kerri Stephanian and Logan Shortt

Mandy VanDenBerg and Andrea Fuquay

Evi Freeman and Traci Boddie

Heather Evetts and Shelly Tompkins

Member-Guest:

Amy Marable with Kim Sayles

Liz Irons with Janet Stegner

Jacy Russell with Ali Wood

Kristy White with Channing Bale

Kayo Rohovsky with Ryoko Suzuki

Megan Fellman with Jennifer Coats

Maggie Carlisle with Maddy Shwartz

Mary Hope Burns with Kimberly Melson

Evi Freeman with Ashli Reeves

Sneaks & Cleats:

Remy Fellman

Jeremy Sain

Bryan Rader

Ben Knudson

Tennis Programming

Pickleball Doubles Club Championship

Halloween Social Doubles and Mixed Doubles Club Championship

105 soc Pickleball

USTA Men’s Team Pract

Tennis University W

r Match P

Tennis Associations

Women’s Tennis Association

230 Members

Big Shamrock/Little Shamrock

Member-Member

Martini Bingo

Member-Guest

Rally For the Cure

Men’s Tennis Association

121 Members

Sneaks & Cleats

Tasting Event

Wimbledon Event

US Open Event

Tennis and Pickelball Event

DAC Teams

In 2025 DAC had over 80 teams representing the Club in Dallas Leagues:

7 Men's USTA teams

15 Women's USTA teams

2 Love 60 TCD teams

4 Love 50 TCD teams

DAC TENNIS: Where Competition Meets Community

DACWomen’sUSTA18+30team placed7thintheNationoutof 3,415teams

DACDavisCupbringsthebestof bothTennisandSocialactivityto DACcourtswithalldayfun

MTAWineTastingisahighlight ofthespringeventswithan extraordinarywineanddine experienceandtennisexhibition. ThankyoutotheMTASocial ChairsRemyFellmanandGuy Josselyn.

WTAWildWest-MemberGuest wasahugesuccess!Thankyou totheWTASocialChairsLindsey StarnesandMaryGlenn.

Court Highlights

NewCourtsOpeningCelebration

Brandnewcourts1-4and resurfacedcourts5-10.

Ournearly4monthsprojectnot onlyimprovedplayabilitywith newcourtsbutallowedusto changeareasaroundthecourts withimprovementsofnewpatios, landscapingandspotsfor spectators.

Withournewcourtsutilization wentup20%fromlastyear!

Ournewviewingpatiohas becomeamemberfavoritefor watchingmatches!

Nominating Committee

Chairman - Tim O’Brien

Kelly Forbes - House Committee

Andrew Kirkpatrick – Golf & Grounds Committee

Ken Kritz - Membership Committee

Trey Chapman – Finance Committee

Matt Sisk - Governance Committee

Robert Walne - Strategic Committee

Thank You!

NEWLY ELECTED BOARD MEMBERS