Friday, August 9, 2019

The Ins And Outs Of Disc Golf Clubs Part 5 - More Money, More Problems?

If you’ve been following along with our blog series that outlines how to start and run a disc golf club, you’re probably pretty motivated to get things moving! So far, we’ve covered everything from the initial stages of getting your club going to some of the finer details concerning what you’re actually supposed to do at each meeting you hold.

However, like any good organization, you won’t get very far without financial support. In Part 5 of The Ins And Outs Of Disc Golf Clubs, we’re going to explore all things related to money and find out just how important this piece of the puzzle truly is.

Who Keeps The Cash?

Even if your disc golf club consists of members that you’ve known for decades, figuring out who actually hangs onto the money you raise can become a bit of a challenge. Many people don’t want to take on that level of responsibility, and one look at news headlines will prove just how easy it is for people in positions of power to take advantage of financial access.

So, who gets to keep the cash? We’ve received some great advice so far from Ray Woodruff, President of the Mile High Disc Golf Club in Denver, CO, and his wisdom extends into this all-important area:

“If you can wait for nonprofit status to be blessed by the IRS, wait for your Federal EIN before opening a bank account so that one person from the board isn’t left holding the financial baggage of the club if anything goes wrong. It does help to have a board member that knows finances, but this can be outsourced should you need it.”

Keep in mind that if your club gets large enough, it will operate much like its own small business, and it would be unfortunate for one person to be left financially liable should anything go amiss.

Raising And Using The Money

While having a huge balance in the bank account is certainly a sign of success, how does a club get to that point and then what can the money actually do for you? Latitude 64 team member Luke Wessel, who offered some insightful ideas in Part 4 of the series, shared that his group holds raffles and sells both discs and shirts to raise money for their various goals.

As a member of the Western Arkansas Flying Disc Association, Chris Eads offers a lot of insight as to how financial matters can positively affect one’s disc golf community:

“One thing we have always done is to raise money through raffles and disc sales for charities like EDGE (Education Disc Golf Experience) that helps grow disc golf in our state at the youth level. As far as raising funds for events and new course development - this is one of the hardest things to do and something every club struggles with. We do tee sign sales for both day of events and year-round permanent signs. This helps with course improvements.”

We still have a few more topics to tackle, so make sure to check back in to learn more about how to start and grow a successful disc golf club in your area!
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