Country Club Turnover

Members of a Country Club taking control of their Club from a Developer face a daunting task of determining what questions to ask and which consultants to hire as part of their due diligence.  Making a mistake in the Country Club Turnover process can prove extremely costly.  How costly?  The price tag of a mistake cam be in the multi-million dollar category.  That is why this specific web page has been developed.  Who should you call regarding a Country Club Turnover and why?

Attorney:  Determine how many Country Club Turnovers they have been engaged to assist in and question them about the issues they found in these other engagements, helping the Club Members, that would otherwise have gone undetected.  If they can not easily recite examples, search for a more experienced Country Club Turnover attorney.

CPA:  Country Club Turnover Committees often request a full financial audit of the Country Club financial information at Turnover.  This is not an inexpensive engagement but often deemed necessary by the Turnover Committee.  Before engaging the local CPA firm, determine how many Country Club Turnovers they have assisted in and question them about the issues they identified during other turnover audits, that would otherwise have gone undetected.

Other Consultants: 

Mitchell L. Stump, CPA of Mitchell L. Stump, CPA, PA has consulted with a number of Country Club Turnovers Committees and has saved Club Members millions of tax and financial dollars.  These are  items that generally are not identified by the local CPA's in a financial audit.  This is a self serving promotional statement, but true.  To assist those Country Club Turnover Committees that can not envision paying a consultant for his time in visiting the Club, Mitch wrote Club Equity Conversion Book as an alternative tool.  Failing to properly identify those issues that can cost Club Members millions of dollars after Turnover is foolish.

Paul Mueller of Reserve Advisors has assisted a number of Country Clubs identify their asset replacement requirements.  What a shame it is for Club Members to acquire a Club from a Developer without a documented plan in place to fund future replacement reserves.  Reserve Advisors and Mitchell L. Stump, CPA, PA have established a strategic alliance in serving the needs of a Country Club Turnover Committee.