Lifetime Membership discussion

[Fully Vetted]

I am starting this thread in order to see what everyone's thoughts are on the possibility of a Lifetime Membership option to the Registry. Feel free to voice your thoughts as well as your concerns but please, let's keep this positive and constructive.

Here are my thoughts:


I definitely think it's a way to show your undying support for The Club, however, there are some things that need to be taken into consideration.


For instance:

• I think one qualifier is that you should have to own a ZR-1. Obviously, this may ruffle some feathers since I know there are some great contributors to this site that are not CURRENT owners so maybe there needs to be some consideration there. Maybe a certain number of Honorary Lifetime memberships given out by the Board.
• When it comes to pricing it would need to be high enough for it to be a special fraternity but not so high that it becomes more of a status symbol.

One thing for the Board to keep in consideration is if the price is too low and too many people opt for the LM it would/could have an adverse effect on the annual revenue from membership renewal. That effect may not be felt for a couple of years but you will lose forever the annual membership dues of each LM. Once the initial swell of revenue is gone, that's it. It would put added pressure (probably needed) on the Board to promote new membership on an annual renewal basis. If the price is high enough it may not be felt for 8-10 years. Either way, without adding new members at some point it will be felt. The reason I say 8-10 years is because I think the cost should be at least 10 years worth of annual renewals up front. At the current rate that would be $350. And to be honest, I don't see anything wrong with it being in the $400 range.

As far as benefits to becoming a LM probably some kind of reduced registration rate for events (reserved parking?)and maybe some token of recognition (a sticker and maybe a special available avatar) would be appropriate.

These are just a couple of thoughts I had after reading a previous post about the possibility of a LM.

As the great Harry Carey would say:

"What are your thoughts?"

[scottfab]

What is the exit strategy?
Let's say for some unforeseen reason the club dissolves in 2yrs are those that purchased LMs just SOL?
Refund? How much?

[gbrtng]

Originally Posted by scottfab

What is the exit strategy?
Let's say for some unforeseen reason the club dissolves in 2yrs are those that purchased LMs just SOL?
Refund? How much?

It has happened before ...

[tomtom72]

Okay just some thoughts from the peanut gallery..... I would proly opt for a Lifetime Membership, but I voted "NO" in the poll. At $400 or even $500 for a 10 yr paid up membership to me it would just be a way of not having to remember to re-up every year. I just fear that too many options make for a nightmare in book keeping? Or maybe over time we run short of money to run the club??? I'd hate to see inflation damage our operating budget, or make it difficult to run our club. I guess my reasoning is pretty lame?

Okay, just as a reference I have been trying for the last few yrs to find it in my budget to convert my NCM membership from annual to lifetime. Every time I think I'm close I seem to encounter some bump in the road that scrubs the thought. I bring that up because to me that is more the scale of payment needed to make a "life time membership" work for any club???? I guess that's pretty lame also, no?

I just had a BFO! I remember back before the internet, 1977, when I was putting my 72 back together how difficult it was to get accurate info on the 'how to' aspect of doing a mechanical restoration....even the FSM wasn't all encompassing, and you just didn't know that many people who knew the car inside and out. This club and the NCM serve as an anchor points so I would be very sad to see either go down due to lack of funds. I'd even go a bit further. If this club went dark, I'd sell and get a C6 because the potential issues that could crop up would be way beyond my personal mechanical abilities. Oh, and yes I do realize that I should go to Gordon's school before it's too late....another money story! LOL But that would be the only way I'd keep the car if we went dark over here. JMHO


Tom

[scottfab]

Originally Posted by gbrtng

It has happened before ...

Tell me about it

As for "donation/contribution for what has been received", that's fine for some. It should be stated as such me thinks.

I haven't voted yet. Taking in all discussion points first (just like any election) then I'll contemplate and decide based on facts.

I'm leaning no though, here's why.
The single biggest issue I have with it was already raised on the OP.
If there is a surge now of funds the temptation to spend it by the board is huge. (I'm not suggesting party time but....) Then it leaves future boards holding the bag so-to- speak when it some to a renewed source of income to cover for all the members no longer contributing.
(kinda like the way the government raided the social security funds)

I am for no "gold star" or any such thing. Let individuals post that bragging point on their signature. (or not)

If we do have an LM opion.....
I am for two levels of LM as was mentioned. One true LM that is a bit more than $400. I'd place it at a cool $1k.
Then a PM (patron member) or some such moniker for those that put up at least double the LM fee. These are true supporters of the ZR-1 and obviously can afford to do it.

[tomtom72]

Originally Posted by Dynomite

WOW.....you appear very limited in your web browsing

Marc and Pete are all I need

I would post up a Link here but best not in this context of it saving you from selling your ZR-1 when the topic of discussion is Lifetime Membership(s).
(note the "s")

You are correct Cliff.....I stink at using Google or any other search for that matter. Also, we all have "comfort levels" within our own abilities....mine are proly low because I don't own a home so no place to work. If I can't do it in my parking space, then I have to pay some one else to do it. I did do a complete mechanical restoration, before I knew what that term meant LOL, on my 72 LT-1 in my parents garage. I bought a used SCCA B sports production car...unknowingly! LOL I can turn wrenches on conventional stuff. And yes, there are always Marc and or Pete.....I've been in a 'christmas club' since about 07....LOL I'm almost there! Truth be told, if it wasn't for this Brotherhood I would not own a ZR-1. I'm telling the truth, if this Brotherhood / Registry disappeared I'd go get a C6 ZO6 and sell my ZR-1. The newer ones are much easier to work on as a cam in block motor is not something I'm unfamiliar with. I'd cry a lot, but I'd have me another vette! Heck, if LT-1 cars were not so expensive back in 04 when I was looking I'd be driving one of those....boy would that be a let down after owning a ZR-1! LOL


Tom

[RyanChappel]

A consideration could be the tax (exempt) status of the club. Some clubs/associations are required by the IRS to maintain some value of the fees paid for a 'lifetime' membership. My VN veteran's association must maintain several hundred thousand dollars in CD's to insure the value of the life members should the organization fail. Over the years, many of the LM's have died, and there is no good mechanism to track this. Thus, a lot of money which could be used for other (better?) purposes is frozen due to IRS regs....just a thought. Annual dues are $25, and LM is $ 100.

[Fully Vetted]

Originally Posted by scottfab

...

I am for two levels of LM as was mentioned. One true LM that is a bit more than $400. I'd place it at a cool $1k.
Then a PM (patron member) or some such moniker for those that put up at least double the LM fee. These are true supporters of the ZR-1 and obviously can afford to do it.

To be honest, that PM level would probably be the same group of people that right now would band together if financial troubles hit the club and keep it from going under. So, that would be a way to recognize not only their content support but their financial support as well.

I'm just thinking out loud...How is the club set up now? Is it a Corporation owned by the club members?

[tf95ZR1]

Maybe a negative way of thinking about it, but what if the club
were to take off in a totally "bad" direction (in your opinion)?
By withholding your yearly dues, and assuming others did also,
you may be able to effect a change.

[Fully Vetted]

Over 300 views, only 11 replies (by only 6 different members) and 19 votes. Should I have had more than 3 choices or is this just not as big of an issue as I thought? I would think this would be an important issue for some long time members since it could have an effect on the financial stability of the club.

I know I'm a new member but I'm in this for the long haul and if a simple poll can effect or prevent change in the wrong direction then it's a tool we should use. This is when everybody needs to speak up. Not later down the road when the Board passes something that nobody agrees with and then suddenly everyone has an opinion. Let your opinion be known now so the right decision is made.

If I need to add another choice let me know.