Executive Search: Chief Financial Officer for The Minikahda Club
- February 2, 2022
- Patrick DeLozier, Private Clubs, Executive Search
Chief Financial Officer
The Minikahda Club
Located minutes from downtown Minneapolis, MN, The Minikahda Club is much more than a collection of amenities. The Club experience is focused on providing superior social and recreational experiences based on the values of family, fellowship, integrity, respect, and inclusiveness.
Founded in 1898, The Minikahda Club is the oldest country club west of the Mississippi and a premier club in the region. The City of Minneapolis has grown up around Minikahda. A group of young picnickers were so impressed by the spot they found atop a hill overlooking Lake Bde Maka Ska, they acquired the land and set out to form a club for social functions and golf. The name Minikahda comes from the Dakotah, a combination of two words meaning, “by the side of the water.” The Club logo, in fact, depicts a Native American shield, similar to the artifact framed in the Clubhouse.
The Minikahda Club is a year-round full-service club with a vast offering of social, dining and sport activities. The Club has approximately 1,275 members, comprised of approximately 475 families and a single class of membership. From a financial standpoint, the Club is debt-free, has a substantial reserve fund, a waiting list for membership and is well positioned for success.
The historic Donald Ross designed golf course has played host to a number of major events including the 1916 US Open, the 1927 US Amateur, the Walker Cup in 1957, the Women's Amateur in 1988, the Curtis Cup in 1998, and the US Senior Amateur in 2017. The course is ranked among the best in the state by Golf Digest and was ranked #102 in Golfweek's Top classic courses in 2020.
In 2018, the classic Ross designed golf course was re-grassed, and the golf shop was replaced with a new building that provides a year-round practice facility. A modernized pool snack bar and a new lakeside bar on the second floor of the Clubhouse was also added at the same time. Currently, the Club is in the process of developing a long-term strategic and facilities master plan.
Members enjoy a variety of racket sports including tennis and paddle tennis. The tennis and paddle tennis programs are designed to appeal to newcomers and seasoned players alike. A full calendar of clinics, mixers, and socials provides ample opportunities to meet new players and make new friends.
The pool is a very popular member amenity enjoyed by all from Memorial Day to Labor Day. Located on the edge of a hill with breathtaking views of Lake Bde Maka Ska and downtown Minneapolis, members enjoy swimming programs, relaxation and dining poolside.
At the heart of Minikahda is the beloved 60,000 square foot Clubhouse. The Club offers multiple dining rooms for every gathering, from the formal Dining Room and intimate patio overlooking Lake Bde Maka Ska, to a family friendly Grille as well as 1898, the newly added adult-only bar with beautiful views of the lake and downtown Minneapolis. Multiple outdoor terraces and a deck with spectacular views highlighted by incredible cuisine prepared by our culinary team are all part of why Minikahda members and guests consider The Minikahda Club one of the best places to dine in the Twin Cities. The Club also boasts a beautiful ballroom for significant life or member events. Indoors, outdoors, big or small, whatever the need, we are humbled and honored to serve our members and guests.
The Minikahda Club Overview:
- 1,275 Members (approximately 475 families)
- Initiation Fee: $75,000
- Annual Dues: $10,000
- $10.5M Gross Volume
- $5.5M Annual Dues
- $5.2M Gross Payroll
- $3.2M F&B Volume pre-COVID-19
- Peak Season: 300 Employees; Off-season: 120 Employees
- 13 Board Members
- Average age of members is 52
The Chief Financial Officer Position:
The Club is seeking an accomplished Chief Financial Officer who will report to the Chief Operating Officer/General Manager.
The CFO manages the financial operations of the Club, supervises the accounting functions, and provides analytical support to the COO/GM, Board of Directors, Business Operations Committee, and others for planning, budgets, and solutions to business problems.
The CFO recommends, implements, and maintains the Club's financial plans and policies, its accounting practices, fiscal records, and the preparation of financial reports. The CFO makes decisions in accordance with Club policy on administrative or operational matters and ensures the operations' effective achievement of objectives.
The Chief Financial Officer will be responsible for the following:
- Recommend and implement policies to control and coordinate accounting, auditing, budgets, taxes and related activities and records; develop, establish, and administer procedures and systems pertaining to financial matters. Responsible for the Club’s internal controls and compliance to same.
- Prepare financial statements, forecasts, and analysis for all administrative and managerial functions. Maintain all accounting records; develop, analyze, and interpret statistical and accounting information.
- Manage the annual audit.
- Evaluate operating results for costs, revenues, budgets, policies of operation, trends, and increased profit possibilities. Attends bi-monthly Business Operations Committee meetings to provide the committee a report of the monthly and year-to-date Club finances.
- Responsible for the development, implementation, and operation of all accounting and information systems support; for the administration, management, and maintenance of the equipment systems employed in the collection of information and for the training and supervision of staff related, but not limited, to the Administration department.
- Development, analysis, and interpretation of statistical and accounting information in order to appraise operating results in terms of profitability, performance against budget, and other matters bearing on the fiscal soundness and operating effectiveness of the organization.
- Responsible for evaluating the performance of several personnel in the Administration department. This individual recommends training requirements, has the duty to keep the staff at the highest level of skill necessary to meet Club needs and objectives.
- Establishes major economic objectives and policies for the Club and prepares reports that outline the Club's financial position in the areas of income, expenses, and earnings based on past, present, and future operations.
- Coordinates and directs the preparation of the budget, business plan, and financial forecasts; institutes and maintains other planning and control procedures; and analyzes and reports variances. The Club performs in a fiscal year beginning April 1 of each year.
- Responsible for tax planning and compliance with all federal, state, and local corporate, payroll, and other applicable taxes.
- Furnishes internal reports, revises, and updates reports to be more useful and efficient, and furnishes external reports as necessary.
- Evaluates and recommends insurance coverage for protection against property losses and potential liabilities.
- Bachelor's degree from a four-year college or university, with a concentration in accounting.
- Five to seven years of professional accounting experience with at least two years as Controller, not-for-profit experience is an asset.
- Excellent management, leadership, analytical, and interpersonal skills.
- Ability to design and implement a control reporting system. Experience in systems integration, flowcharting, documentation, and key control analysis required.
- Experience overseeing the information technology operation and electronic data transfer between systems. Currently the Club uses the ForeTees Business Platform.
- Strong communication skills.
- Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures or governmental regulations.
- Knowledge and understanding of retirement plans and benefit programs.
Note: A pre-employment drug screen and background check will be required. The position is available immediately.
Salary & Benefits
Salary is open and commensurate with qualifications and experience. The Club offers an excellent bonus and benefit package.
Interested candidates should submit résumés along with a detailed cover letter which addresses the qualifications and describes your alignment/experience with the prescribed position by Wednesday, March 1, 2022.
Documents must be saved and emailed in Word or PDF format (save as “Last Name, First Name, Minikahda Club CFO Cover Letter” and “Last Name, First Name, Minikahda Club CFO Resume”) respectively to: email@example.com. Please email résumé with references.
Lead Search Executive
For more information about The Minikahda Club, please visit www.minikahdaclub.org.