Annual Report of the Chair, Board of Governors And the General and Special Committees 2025
In closing, I would like to thank all the Members who recruited and sponsored new Members to the Club. Encourage your colleagues and neighbors to get more information from Director of Membership Diana Wang at diana.wang@ancc.org.
FINANCE COMMITTEE
MR. JOHN C. TUCK, III, CHAIR The primary responsibility of the Finance Committee is to advise the Board on financial matters for the Club. In that capacity, the Finance Committee takes the lead in developing and monitoring the budgets for operations and capital programs throughout the fiscal year. Additionally, the Audit Subcommittee oversees the annual audit of the Club’s finances, which is a requirement of our
loan covenants and non-profit status. Current Financial Status of the Club:
The Club’s financial position remains positive however a need to increase Capital Reserves persists. FY 2025 set an all-time record for operating revenue of $42.5M. As with FY 2024, FY 2025 saw increased demand across all Club Activities. Our Aquatics, Racquets, Golf and House & Entertainment all witnessed record demand and as such revenue. FY 2024 also saw the implementation of a waitlist for new Members for the first time in a generation. The waitlist time increased significantly as we turned the calendar from 2024 to 2025. Members on the waitlist can now expect to remain so for over three years. ANCC hit its Membership Cap of 2400 Resident Members in late 2024. The Board instituted an equitable “first in, first out” approach to handling our waitlist while also allowing Active Duty Absent Members to return to Resident Membership status without having to join the waitlist. This remained consistent into calendar 2025 and fiscal year 2026, which was effective April 1st. Discussions are ongoing as to the future of the Club’s trial Membership Category. Club leadership is aware that there is growing frustration among those in the Trial Member program that when after their six-month term expires, prospective members must wait an extended period of time to then clear the waitlist. Given the demand for the Club, the possibility of eliminating the Trial Member category is a possibility. But with all decisions, there will be financial impacts to Dues because of the removal of the Trial program. We estimate that dues could increase as much an additional $10/month should this program be eliminated. Operationally, the Club continues to grow. However, as revenues grow, so too do expenses. FY 2025 saw the largest single year increase in cost of goods sold and compensation expense across each Club activity. As noted, we ended FY 2025 with the largest top line in our Club’s 100-year history. Just as we did the year before in FY 2024. However, this evolving environment has presented our Club with new challenges both financially and operationally. Our expenses continue to rise faster than the revenue we are generating. Wholesale food costs, utilities, labor, and insurance continue to go up and there is little we can do about that without significantly reducing our services. 1. The Consumer Price index dropped significantly in FY 2025 when compared to FY 2024. Gone were the days of 7%+ wholesale inflation as we saw in the second half of 2022
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