The FUN-damentals of Club Budgeting: Best Practices for the Operating Budget
This blog post recaps best practices that positively impact how a club approaches its operating budget. It is based on the HFTP webinar from January 21, 2021 titled “Club Budgeting and FUN-damentals.”
What Happened at Club Forum: Unpacking the Greatest Challenges for Clubs in 2020
This year, the HFTP Club Forum served as an invaluable opportunity for clubs across the United States to virtually come together and discuss the challenges that have unfolded throughout the course of this year, how they are planning ahead for 2021, and what they…
Watch Your Step: Ethical Pitfalls for Today’s Clubs to Avoid
Written by: Daniel Conti Jr., CHAE, CAM The Covid-19 pandemic has placed a lot of financial pressure on clubs around the country. Many have experienced a shortfall in expected revenues. Club leadership has had to make difficult decisions on how…
Club Reopening: What Are the Legal Issues?
Written by: Brad Steele, J.D. With club leaders, staff and members in the United States all anxiously awaiting the go-ahead from state officials to reopen, the question every club leader should be asking is, “How do I open without exposing…
Silos and the Social Club
Written by: James J. Reilly, CPA, JD Albert Einstein is quoted as saying that “[t]he hardest thing in the world to understand is the income tax.” Well, the computation of taxable income is getting harder, especially for tax-exempt social clubs. An…
Social Clubs and Coronavirus: Tax View on Qualified Disaster Payments, Part 2
Written by: James J. Reilly, CPA, JD In March 2020, HFTP published a TaxViews article entitled “Social Clubs and the Coronavirus Pandemic,” where we discussed Qualified Disaster Payments pursuant to Internal Revenue Code (“IRC”) Section 139. The coronavirus pandemic was…
Private Clubs and Moving Past COVID-19: Re-opening Considerations
Written by: Amber Stone, CPA Over the last month, clubs have been consumed with loan and grant applications, worst-case budgeting scenarios and trying to follow the daily legislative updates. As clubs settle into their new “normal,” they are left with…
Attention, Clubs: Are All Your Plans in Place?
It is an indisputable fact that has stood the test of time — Planning is vitally important to success. In fact, Benjamin Franklin, a founding father of the United States, is credited as having once famously said hundreds of years…
HFTP 2019 Club Forum — Security, Integration and System Selection
Central to the function of all businesses – whatever their purpose may be – is technology. And so, HFTP recently held its annual Club Forum with the main topic of club technology. The HFTP Club Forum is a one-day program…
Technology as a Cultural Challenge in the Hospitality Industry
Written By: Laura Resco, official event guest blogger for the HFTP Club and Hotel Controllers Conference 2018 There is one idea that permeates the sessions at the 2018 Club and Hotel Controllers Conference, and it is that technology is ingrained…