2026 TOWN HALL MEETING THURSDAY, OCTOBER 22 5:30 PM - COMPLIMENTARY HORS D’OEUVRES 6:00 PM MEETING BEGINS ROYAL ROOM
MEMBER INSIGHTS | CAPITAL PLANNING | A LOOK AHEAD
Planning Today For Tomorrow As we prepare for our upcoming Member Town Hall Meeting, the Board of Directors and Club Leadership invite you to join us for an open, transparent presentation and discussion regarding the strategic future and financial health of Dallas Athletic Club. This meeting will share key data, outline long-term planning, and provide a clear picture of how today's decisions will enhance member value and protect the Club's assets for years to come. To help you get the most out of the presentation and prepare any questions you may have, we have summarized the primary topics, key background insights, and essential financial terms.
01
What We Will Cover Our agenda is structured to provide clear insights into where the Club stands today and how we are planning for the future:
1 Strategic Survey Insights
GGA Partners Focus Group & Membership Survey
2 Capital Reserve & Asset Health
Club Benchmarking Capital Reserve Study & Financial Planning
3 Future Vision
Club Leadership
Glossary of Key Terms Capital Reserve Study (Completed February 2026): A comprehensive engineering and financial assessment in which every Club asset was inventoried and placed on a replacement schedule based on its estimated useful life. Each asset was also assigned a projected replacement cost, accounting for inflation, to help anticipate the Club’s long-term renewal and replacement needs for major club infrastructure (e.g., HVAC systems, flooring, furniture, agronomy assets, kitchen equipment, etc.).
Operating Dues vs. Capital Dues: Operating Dues fund day-to-day club operations (staffing, utilities, food & beverage services, general maintenance). Capital Dues are strictly designated for capital reinvestment, funding facility upgrades, long-term repairs, and infrastructure replacement (e.g., HVAC systems, flooring, furniture, agronomy assets, kitchen equipment, etc.).
Master Facilities Plan: A multi-phase, strategic roadmap guiding future physical renovations, space usage improvements, and campus amenities over the next decade. The MFP focuses on new amenities and enhancements that do not currently exist on campus.
Initiation Fee Adjustments: Periodic reviews of prospective member entry fees to maintain competitive positioning among peer private clubs while building necessary capital funding reserves. 02
02
Strategic Survey Insights Presented by GGA Partners
Highlights and key takeaways from the recent membership survey conducted by GGA Partners, focusing on member satisfaction, facility priorities, and community feedback. GGA Partners is an international consulting firm and trusted advisor to many of the world’s most successful golf courses, private clubs, resorts, and residential communities. They are dedicated to helping owners, asset managers, club and community leaders, investors, and real estate developers tackle challenges, achieve objectives, and maximize asset performance. They help clubs align their long-term vision using member surveys, focus groups, and competitive research.
Key Findings
What We Heard From You Strong Overall Satisfaction & Member Retention Overall member satisfaction and loyalty remain high, reinforcing the Club's reputation as a top-tier multi-generational community. Member feedback highlights a strong value proposition compared to competing local private clubs, paired with extremely high retention rates across demographics.
Clear Operational Strengths & Target Improvement Areas Top Performing Amenities: Course conditioning, safety and security, professional golf instruction, and tennis operations consistently drive top member satisfaction. Areas for Targeted Focus: Member input identified actionable opportunities, including covered outdoor dining/patio, a pool complex refresh, and enhancements to the family-oriented golf practice facility.
03
Key Findings
What We Heard From You Capital Priorities & Financial Strategy Preferences Facility Enhancements: Member consensus points toward a balanced, multi-phase focus on dining facilities, family amenities, and golf operations. Preserving Our Legacy: Feedback shows overwhelming commitment to protecting the Club’s historical "no assessment" philosophy. Capital Funding Support: Members expressed a willingness to make additional modest financial contributions toward priority capital improvements that enhance the member experience.
Strategic Vision & Policy Priorities Unified Vision: Strong alignment across the membership to preserve our multi-generational, family-first culture while maintaining high standards across every amenity. Policy Expectations: Clear direction provided regarding rules enforcement, dress codes, guest access guidelines, and potential refinements to select membership categories 04
Capital Reserve & Asset Health Presented by Club Benchmarking
Findings from the comprehensive Capital Reserve Study led by Club Benchmarking outline current asset conditions, maintenance cycles, and long-term capital planning needs. Club Benchmarking is a specialized business intelligence platform that provides financial, operational, and data-driven insights for private clubs, including golf, country, city, and yacht clubs. They deliver the fact-based, actionable insight you need to make informed decisions through a suite of cloud-based software and services built specifically for private clubs.
Maintaining What We Have & Investing in What’s Next Club Benchmarking reviewed DAC’s Capital Reserve Study and long-term financial outlook to help the Club understand the investment needed to maintain its existing assets and prepare for the future.
INCREASING CASH RESERVES Long-term cash accumulation.
ASPIRATIONAL CAPITAL
Obligatory Capital Obligatory capital supports ongoing repairs and replacements of existing assets. Asset costs depreciate and will rise as replacement costs increase. Obligatory capital comes from recurring capital dues.
Aspirational Capital
Campus growth and new amenities.
OBLIGATORY CAPITAL Asset renewals and replacements.
DEBT SERVICE
In private clubs, aspirational capital is generally generated three ways: a) initiation fee income, b) assessments, and c) debt.
Top-priority and must be covered entirely.
Capital Priorities Ladder A capital planning framework that prioritizes debt service and the renewal and replacement of existing assets before aspirational investments and increasing cash reserves. 05
Capital Reserve Study & 5 Year Obligatory Capital Breakdown In February, Club Benchmarking completed a comprehensive Capital Reserve Study to map campus asset lifecycles, replacement schedules, and long-term costs. The findings have been built into a dynamic financial model, which will be presented at the October Town Hall. 5-Year Repair & Replacement (R/R) Target: $13,000,000
Core Strategic Objectives: Operational Continuity: Prioritizes vital asset maintenance required to keep campus infrastructure fully functional. Zero Discretionary Spend: Excludes aspirational or enhancement projects to focus strictly on obligatory capital needs. Eliminating Deferred Maintenance: Establishes a disciplined long-term strategy to protect current facility investments.
What are Capital Dues A dedicated, recurring fee billed to members, restricted specifically to funding major fixed-asset repairs, renewals, and long-term facility improvements without relying on assessments or debt. Capital dues are kept separate from regular membership dues and operating income and are not used to fund the Club’s day-to-day operating expenses. This dedicated funding provides a more consistent, proactive approach to capital planning and reduces reliance on assessments or debt. Capital dues provide a transparent, predictable funding stream for mandatory asset repairs, without surprise assessments. 06
Looking Ahead to 2027 & Beyond
Thoughtful planning today helps us enhance the member experience tomorrow. In 2027, we will take key steps toward the next chapter of our Club.
Master Facilities Plan
In 2027, we will begin development of a Master Facitilities Plan (MFP), creating a long-term roadmap to guide future improvements across the club.
Initiation Fees
Initiation fee income will continue to be an important part of our long-term capital strategy as we plan for the future. Continued investment in improved amenities and infrastructure strengthens the Club’s overall value and creates opportunities for future growth in initiation fee income.
The decisions we make today will help ensure the Club continues to provide an exceptional experience for our members while remaining strong for generations to come. Thank you for being part of the conversation!
07
LEARN MORE AT
THE
TOWN HALL MEETING
Join us on October 22 for a deeper discussion on our long-term financial plan and the vision for the future.