MGC Spring Financial Update – June 2026
“Keeping us All on the Same Page”
And…Celebrating 100 Years
Welcome to the 10th edition of our ongoing effort to keep our members on the same financial page! If you are a new member or would like a refresher, previous versions are on our website (access instructions at the bottom). Updates are published twice annually, with the “Fall Financial Update” typically discussing how we did, and the “Spring Update” sharing what we did – along with other financial notables. So, grab your 100-year party hats and let the celebration begin!
First, we have to celebrate our two golf courses. William Langford remains heralded for his iconic designs around the Midwest from a century ago. As much of a golf visionary as history has recorded, he could never have envisioned what his original 9-hole masterpiece would morph into 100 years later with the Gill addition of 9 complementary holes, followed by Greywalls. We can’t imagine what the place might look like in 100 years, but it sure looks pretty good, right here, right now. It all starts and ends with respecting our golf courses.
Next, we have to celebrate our remarkable staff. Our perennial stalwarts, Craig Moore, Bob Bastian, and Marc Gilmore are back for more, along with their key long-term staff. In the offseason we bolstered our leadership team by hiring Crystal Cubr as Office Manager. Trevor Cluck is back, has been promoted to Bar Manager, and we couldn’t be happier. Truly a championship team worthy of a championship season.
And we have multiple things to celebrate about our finances. Last year’s strong performance enabled us to keep our momentum going over the winter – investing thoughtfully in people, projects, and improvements to keep our club moving forward into our next century. Not all of them are flashy, but like a good short game, they’ll pay off when and where it counts. Here is a list of facility improvements, approved or completed, since our Fall Update, prioritized by our leadership team, and funded from our Capital Investment account (Appendix A).
| New kitchen Floor | Pro Shop slat wall & trim updates |
| Reconfigure kitchen/new equipment | Updated Heritage hole 2/7 bathrooms |
| Replaced clubhouse restroom flushing system | Pro Shop bathroom repairs and upgrades |
| Hydrologic analysis & design to save waste water/runoff cost | New clubhouse men’s upstairs bathroom floor |
| Approved Heritage paving (phase 1 of 3) to be completed in the fall, weather permitting (as always) | |
On a grander scale, we are very pleased to report we have renewed our primary debt with First Bank for a 3-year term at a rate (5.99%) three quarters of a percent below the current commercial prime lending rate. First Bank has been a long time MGC partner and were the successful low bidder out of 10 financial institutions with a local presence. This is significantly higher than the honeymoon rate of 3.25% we have been paying for the last five years, but it is a great deal for MGC in the current market and is a short-term (3 year) loan if we can continue our financial success and pay it off completely as presently planned.
Along those lines, our original amortization schedule in 2021 projected a renewal balance of more than $2.8 million. Our burgeoning financial success since then allowed us to apply an additional $1.1 million on principal, reducing our renewal balance to $1.7 million. We also paid off an accrued interest liability of $97k out of our operating surplus that was maturing and would have been rolled into our renewal balance. Now that our Heritage irrigation project is in the rearview mirror, subsequent financial surplus can be applied to our debt without this nagging financial diversion. However, we will continue to fund our Capital Investment account annually to facilitate improvements and address deferred maintenance as we have right along.
Speaking of which, we want to again commend our incomparable Grounds team for facilitating a seamless outcome on our Heritage irrigation project – yet another hooray!
In every edition since the Spring of 2022, we’ve talked about increasing member value and balancing member access with the much-needed revenue from outside play. These efforts continue in 2026 with:
- additional member-only tee times;
- a combined membership cap to prevent an increasing number of members vying for these extra times;
- elimination of the non-dependent college student membership for GW, mostly used by out-of-town students paying relatively little while using a significant number of tee times;
- monitoring and managing the balance between member and outside play, while increasing external rates (yet again) to maintain revenue levels;
- a substantially upgraded cart fleet, with an alternative GPS system that complements the experience while expediting play through enhanced functionality for both members and guests;
- increasing F&B minimums for the first time in 15 years to help fund those shiny new carts—while still keeping member dues unchanged for the fifth consecutive year.
And most of all, we want to celebrate all of you – our members who define what it truly means to belong to Marquette Golf Club. There are countless golf courses providing quality experiences for members and guests across the country, but you would be hard pressed to find a 36-hole facility that compares to ours in terms of depth and breadth of internal culture. Greywalls is our golden unicorn, but our span of influence and impact in so many other areas is what makes MGC so very, very unique:
- The many community events and charitable fundraisers we host annually, raising money for worthy causes and serving as an incomparable recreational outlet for business events.
- Our youth golf program and the incredible dedication of our volunteer members who make it happen solely for the benefit of our kids – the lifeblood of our club’s future.
- And speaking of volunteers, the women of our club have long been the heart, hands, and leadership behind so much of what makes this place special — serving on committees and the board, organizing events, supporting initiatives, planting and maintaining the flowers that brighten our grounds, and quietly carrying countless responsibilities that too often go unrecognized.
- Our new partnership with the First Tee program and all it does to develop character in our children through the vehicle of golf.
- Our internal and external leagues, and all of the club events enhancing membership interaction and providing competitive fun at every level of skill and age.
- Our place on the UPGA tournament calendar, providing multiple annual opportunities for U.P. golfers to experience what we have all come to appreciate as often as we want.
- Our partnership with the Noquemanon trail network, supporting year-round trail access and winter recreational space.
- The economic impact we have on the Marquette area from attracting thousands of guests annually who otherwise wouldn’t visit our community.
Our wonderful spring weather. . .
As we celebrate 100 years of Marquette Golf Club, we remain guided by the same principle that got us here: thoughtful stewardship of a truly special place. The decisions we make today—financial and otherwise—become the legacy we pass on to the next generation of MGC members. We look forward to a memorable centennial season together. The wonder of our unique enterprise calls to mind the perspective of Michigan’s football coach during their 2023 championship campaign – “Who’s got it better than us? NOBODY!”
5 Things to Remember:
- With our new bank loan, we now pay a higher rate of interest than we earn on deposits, so it makes sense to pay down the debt as fast as we can, and we are doing just that; however, we continue to address high priority items on our Capital Investment list.
- We continue to balance member access with outside revenue needs in favor of our members and their experience.
- The member experience depends on a quality leadership team and we have the strongest group in the last half century.
- The club continues to make contemplated financial progress, and we have the people and processes in place to keep it that way.
- 100 years is something truly special — and worth celebrating together. Show your club some love, join the festivities, and start by signing up for our June 27 member-only golf day. It’s shaping up to be one for the history books.
The MGC Finance Committee, Board of Directors, and Staff
Appendix A: Capital Investment Fund Summary
Appendix B: Unallocated Reserves Fund Summary
How to Access Financial Updates from the “Member Home” Section of our Website: Go to:
- Click on “Member Home”.
- Enter the password.
- If you do not know the password, please contact the Business Office at 906-225-0721, ext. 3.
- Select the box titled “Current Financial Update” or “Archived Financial Updates”.