building hero

Update: Financial Outlook and Member Credit/Charitable Tax Receipt

2021-03-23

As detailed in our Operations update on February 16th, the Board has been analyzing options to account for the reality that our curling season was cut short.

Background
As discussed at the Annual General Meeting, the Ottawa Curling Club will incur a significant financial loss this season compared to small profits earned in a typical season. The OCC fixed costs, with or without curling operations, are substantial. In pre-pandemic times, multiple revenue streams cover the costs associated with regular operations, and needed capital investments are planned, calculated and saved for. The onset of the pandemic severely limited revenue options for our club. Member support, careful cost management and government assistance have all been critical in mitigating the loss, but the reality is that this season, costs are higher than revenues. Thankfully, years of strong member support, attentive financial management and successive Boards have allowed our club to make needed investments while maintaining reserves that simply aren’t an option for most clubs. Those reserves, cash flow management, and substantial government assistance (we participated in every available government COVID financial program) gives the Board confidence that the long term financial viability of the Club remains intact.

You will recall that in September, we gave everyone the option to opt out of the season prior to September 30, 2020 in order to receive a full refund. We were clear that refunds would not be offered after that. Our decision to open the Club was dependent on those remaining membership funds. Looking back, we believe that we made the right decision based on the information available at the time and the wishes of our members. Similarly, we feel the message from our members in the February survey not to re-open when Ottawa entered Orange was prescient, as the region has now snapped back to Red, case counts are climbing, and area clubs have had confirmed COVID-19 cases. However, the Board is keenly aware that members who paid this season did not get to enjoy as much curling as anyone would like.

Member Credit/Tax Receipt
We are pleased to offer 2020-21 paid members two options to reflect the shortened season.

1. For those who register for the 2021-22 season, a 2021-22 season Bar Credit (Bar Bucks) equivalent to 30% of the membership fee paid*​.

  • OPT-IN ONLY- ACTION REQUIRED: If this is the option you prefer, you must notify Dalal by email at This email address is being protected from spambots. You need JavaScript enabled to view it. by no later than Tuesday, April 6th. The deadline is required to ensure we have sufficient time to accurately adjust our financial close-out prior to our fiscal year-end (May 31).
    * note: curling fees paid, excluding the Curling Canada fee and the Ontario Curling Association fee, which were remitted to the respective associations on behalf of members.

2. By default if Option 1 above is not chosen, paid 2020-21 memberships will be issued a 2021 charitable tax receipt equivalent to 30% of the membership fee* paid.

  • NO ACTION REQUIRED: Charitable tax receipts will automatically be issued unless you opt in to the Bar Credit (Option 1).
  • Charitable Tax Receipts are available thanks to our membership in CurlON, which provides access to the  National Sport Trust Fund – Ontario (details on the program, and the chance to make an additional donation are below).

COVID-19 has not affected everyone the same way. Should you have any questions or concerns about the above, please don’t hesitate to contact Dalal at This email address is being protected from spambots. You need JavaScript enabled to view it.

Looking ahead - Your support appreciated
Financial projections show a range of possibilities for the coming year - from additional losses to a small recovery. While the Board firmly believes that our Club’s long term financial viability remains intact, there remains a lot of uncertainty. As such, our club should take every opportunity to secure our financial position. Thanks to our membership in CurlON, we now have the opportunity to solicit donations through the National Sport Trust Fund – Ontario. This program allows the issuance of charitable tax receipts for donations received. Should you be in the position to make a donation, and desire a 2021 tax receipt for doing so, now is the time.

Details of the Ottawa Curling Club’s campaign are here:
CRStF - SPORT4ONTARIO

A direct link to the donation form is here (be sure to choose to direct your donation to the Ottawa Curling Club!):
NSTF-Ontario Donor Form (logiforms.com)

More information on the National Sport Trust Fund is here:
Charitable Tax Receipting Program – Ontario Curling Council

Spread the word- anyone with an interest in keeping our Club strong can donate!

The Board thanks everyone who has helped the club navigate these challenging times – your support will ensure that the Ottawa Curling Club remains the hub for curling in our city for years to come.

Members can expect a Spring Update message in late April.
 

Stay safe. Stay home.

OCC Board of Directors  


Upcoming events

No events

Members

You must LOGIN in order to access the Member only content, including adding yourself to the Free Agent List.

Member Login

440 O'Connor Street
Ottawa, Ontario
Canada
K2P 1W4

Phone:
613.234.4119
613.235.3662

Fax: 
613.235.2178 

Manager: Dalal Abou-Eid
manager@ottawacurlingclub.com

© 2021 Ottawa Curling Club. All Rights Reserved. | Curling Club Management System and Website by CurlingClubManager.com