EASTERN YACHT CLUB
NOTICE OF THE FIRST 2010 GENERAL MEETING
TO BE HELD WEDNESDAY EVENING
JANUARY 13, 2010
at the
Tedesco Country Club
154 Tedesco Street, Marblehead, Massachusetts
NOTICE IS HEREBY GIVEN that the First General Meeting of the EASTERN YACHT CLUB for fiscal year 2010 will be called to order at 1830 hours on Wednesday, January 13, 2010, at the Tedesco Country Club, Marblehead, Massachusetts for the following purposes:
1. To hear and act upon the reports of the Flag Officers, the Secretary, the Treasurer, and such other Committees as may be called upon by the Commodore.
2. To confirm Commodore Doyle's appointment of a Nominating Committee
consisting of:
P. Gary Gregory, III, Chairman
Alice F. Blodgett
Margaret McNamara Jackson
Joseph S.W. Parker, Jr.
David Connolly
3. To consider and act upon the request of the Finance Committee and the resulting recommendations of the Council to amend those portions of Section 1 of Article III of the By-Laws relating to dues to read in its entirety as set forth in Exhibit A annexed hereto, thereby increasing the dues for regular members age 35 years and older from $3,739.00 to $3,765.00 and ratably increasing dues of other membership categories as further specified in Exhibit A.
4. To consider and act upon the request of the Finance Committee and the resulting recommendations of the Council pursuant to the provisions of Section 7 of Article III of the By-Laws to assess the members, in addition to dues, entrance fees and the Project Capital Assessment voted and adopted at the Third General Meeting of Fiscal Year 2008 as specified in Exhibit D, a 2010 Annual Maintenance Capital Assessment, payable in full simultaneously with the first payment of dues for fiscal year 2010, in the amount of $173.00 for regular members age 35 years and older, ratably adjusted for other membership categories, as specified in Exhibit B, for the purpose of paying for certain Maintenance Capital Expenditures as recommended by the Finance Committee and the Council, as specified in Exhibit C annexed hereto.
5. To consider and act upon the request of the Finance Committee and the resulting recommendations of the Council pursuant to the provisions of Section 5 of Article III of the By-Laws to increase the amount of the Entrance Fees from $12,000.00 to $12,600.00, with corresponding percentage increases for new members under the age of 35, and to modify the first paragraph of Section 5 of Article III to read as set forth on Exhibit E annexed hereto.
6. To conduct any other business that may properly come before the meeting.
* * *
Service dress is optional and will be worn by Officers and members of the Council.
Respectfully submitted
Robert C. McCann, Secretary
On Behalf of the Council
Exhibit A
Proposed Amendment to the second paragraph of Article III, Section 1 of the By-Laws
Commencing with the fiscal year 2010:
(a) Except as provided in (c) and (d), the dues for regular member shall be:
Members 35 years old and over $3,765.00
Members between 30 and 35 years old
(35% discount) $2,447.00
Members between 21 and 30 years old
(70% discount) $1,130.00
(b) The dues for Non-Resident Members, including Non-Resident Women Associate Members, shall be:
Members 35 years old and over $ 500.00
Members between 21 and 35 years old
(30% discount) $ 350.00
(c) Upon written application to the Treasurer, the dues for regular members who on May 1st are 66 years old or older and who have been members of the Club for at least twenty years, shall be $2,824.00 (25% discount) and the dues for Women Associate Members of the Club who satisfy the same criteria shall be $1,610.00. (25% discount)
(d) Upon written application to the Treasurer, the dues for regular members who on May 1st are 80 years old or older and who have been members of the Club for at least forty years, shall be $1,883.00 (50% discount) and the dues for Women Associate Members of the Club who satisfy the same criteria shall be $1,073.00 (50% discount).
(e) The dues for Women Associate Members,
35 years old and over shall be: $2,146.00
(f) The dues for Junior Sailing Members shall be $ 350.00
Exhibit B
Proposed Maintenance Capital Assessment pursuant to Section 7 of Article III of the By-Laws
(a) For regular members, the Capital Assessment shall be:
Members 35 years old and over $173.00
Members between 30 and 35 years old
(35% discount) $112.00
Members between 21 and 30 years old
(70% discount) $ 52.00
Members 66 years old or older
who have been members of the Club for at
least twenty years (25% discount) $130.00
(b) For Women Associate Members, the Capital Assessment
shall be:
Members 35 years old and over $ 99.00
Members 66 years old and over
who have been members of the Club for at
least twenty years (25% discount) $ 74.00
Exhibit C
Proposed 2009 Maintenance Capital Expenditures
Expenses
|
Proposed 2010 Maintenance Capital Expenditures |
|
|
Department |
Item/Project |
Expense |
|
|
|
|
|
Paddle Tennis |
Paddle Tennis Court #3 |
$31,175 |
|
Waterfront |
ETO Refurbishing |
$85,000 |
|
House |
New Phone System |
$28,253 |
|
Tennis |
Hard Courts #5 & #6 cracks |
$16,578 |
|
Sailing |
1 used Sonar |
$15,000 |
|
Sailing |
Sonar Sails 3 total |
$6,000 |
|
Communications |
Computers |
$5,000 |
|
Jr. Sailing |
New Engine for Skiff |
$8,295 |
|
Planning |
Dining and Barker Club room noise reduction |
$5,200 |
|
Tennis |
Replace French Drain on Court #1 |
$10,000 |
|
History |
History Revitalization using Digital Video |
$20,000 |
|
Sub-total |
$230,501 |
|
|
|
|
Funding |
|
|
|
|
|
|
2009 Excess Surplus |
$145,000 |
|
2010 Maintenance Capital Assessment |
$85,501 |
|
|
|
|
Total |
$230,501 |
|
|
|
|
Cost per member |
$173 |
Exhibit D
Project Capital Assessment Adopted at the Third General Meeting of Fiscal Year 2008
(a) For regular members, the Capital Assessment shall be:
Members 35 years old and over $500.00
Members between 30 and 35 years old
(35% discount) $325.00
Members between 21 and 30 years old
(70% discount) $150.00
Members 66 years old or older
who have been members of the Club for at
least twenty years (25% discount) $375.00
(c) For Women Associate Members, the Capital Assessment
shall be:
Members 35 years old and over $285.00
Members 66 years old and over
who have been members of the Club for at
least twenty years (25% discount) $214.00
Exhibit E
ENTRANCE FEES
Section 5. Unless exempted under (a), (b) or (c) below, each newly elected member shall pay, in addition to that member's first annual dues, a full entrance fee as follows: $12,600 if 35 years old or older, a member 26 years of age at time of election shall pay $1,260 (10% of the full entrance fee), the entrance fee shall increase by $1,260 or 10% for each additional year of age above 26 until it reaches 100% at age 35. New members under the age of 26 shall be exempt from the payment of an entrance fee. Entrance fees are payable in full at the time of election of a new member, except that members may pay 40% of that amount at the time of their election, an additional 20% of that amount by the first anniversary of their election, an additional 20% of that amount by the second anniversary of their election and the balance (20%) by the third anniversary of their election.
