I'd like to invite all our members to attend our Golf Outing, June 15. It's a sign of the better economy that we already have more golfers registered then last year. Speaking of the economy going up, our parent organ-ization's finances improved remarkably for 2009 (just announced in May). Obviously, the sale of the head-quarters building had a huge impact, but other numbers also showed improvement. We went from a loss from operations of $309,911 with 17,018 members in 2008, to a loss of only $69,923 with 14,500 members.

Other income, even ignoring the building sale, like interest and dividends ($118,431), and net gain on investments ($450,283) changed the small operating loss to a strong profit (the gain on the sale of the building was $833,207). With lower overhead costs in the new offices, an end to the operating loss looks good for 2010.

This is my last President's Message, since Nick Schott will be taking over as of July. Thanks for all of your support, and join me in wishing Nick well.

Steve Gilvar