Dear Shareholders and Members,
We hope this letter finds you and your family well and safe!
Island’s End has had a wonderful year! Since our last annual meeting we have closed on the sale of the development rights to the Town of Southold earning us over $1.2 million and secured a 25-year lease! Please see the attached Q&A for information on how these funds will be deployed. Since the COVID-19 outbreak the golf course has been booked solid putting the course in a profitable situation. As you know, we haven’t had this luxury for many years. Another piece of good news is membership has been steadily increasing over the past 3 years.
With the closing of the Sale of Development Rights to the Town of Southold, Island’s End was able to recognize a profit in 2019 (a financial report prepared for IE by Long Island Tax and Advisory Services Inc. is available to all shareholders upon request).
Both Meinrad Danzer and Jim Sage are leaving the board due to term limits. Meinrad has been our most valuable treasurer and board member for the last 6 years. He not only worked diligently on the finances but spent an enormous amount of time on our negotiations with the town and the new lease with the Kings. We are very sorry to see him leave the board. We thank Meinrad for all his hard work and dedication to the club. Jim Sage, we thank you for your service and guidance. Jim over the course of his term has filled various positions including President and we thank him for that.
We want to thank Bill Fish, our GM, who as you know took on many roles in order for Island’s End to survive financially. During this pandemic he has worked tirelessly to accommodate the hordes of golfers, train new staff and keep the club safe by adhering to the COVID-19 rules. A huge thank you goes to Shamus O’Connor, our groundskeeper from Parkland, for maintaining the course beautifully particularly with challenges such as a lot of play and a drought.
In conclusion, we are grateful to have a great club! We thank our members and in particular our shareholders for their support. With best wishes to you and your families to stay safe and healthy and enjoy golf on a beautiful course.
Catherine Craig-Chaudhuri, President
Board of Directors 2019/2020
Patricia Cristol; Meinrad Danzer, Treasurer; John McCreary; Jim Sage, VP; John Shack and Mark Schrader, Secretary