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COMPASS · Comprehensive Asset Management
Capital planning for private clubs that never goes out of date
COMPASS combines capital planning software, a proven capital planning process and the Club Benchmarking asset management team, so your club always has an accurate, forward-looking capital plan. No more reserve studies gathering dust in a binder. No more spreadsheets that come and go with each treasurer.
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Capital planning software, a proven process and a team behind it
COMPASS is a comprehensive approach to asset management that combines state-of-the-art capital planning software with Club Benchmarking’s proven capital planning process and the support of the COMPASS team.
The result is dynamic capital planning that drives sustainable financial outcomes, so management, the board and the finance committee are prepared to meet the club’s capital needs, now and in the future.
Built for private clubs
A cloud-based platform that ties asset inventory, membership modeling, debt service and cash flow into one database and one set of reports.
Proven and repeatable
A capital planning process created and refined by Club Benchmarking, designed to run every year rather than once a decade.
Specialists on your side
Asset evaluation specialists and a COMPASS facilitation team who keep your data current and help your planning team close the gap.
The why is in the research
Most private clubs are not generating the capital they will need
Most of a club’s money flows through the operating ledger to deliver services and amenities. The long-term financial outcome is produced by capital income and the never-ending need for investment. When capital falls short, it shows up as deferred investment in property, plant and equipment.
Reserve study vs. COMPASS
More than a reserve study: a capital plan that stays current
A traditional reserve study is a one-time snapshot that starts going stale the day it is delivered. COMPASS begins with an Asset Evaluation Study, an onsite inventory and replacement cost study of every capitalized asset, then keeps that data current and connects it to your membership, dues, initiation fees, assessments and debt in one living capital plan.
Episodic
Reserve studies and capital projections are separate, sporadic and event driven.
Continuous
A systematic, perpetual approach that gives consistently accurate insight for day-to-day management and governance.
Static
Outputs are fixed snapshots that quickly become obsolete.
Dynamic
A user-friendly platform designed to handle changes as they occur.
Segregated
The capital plan sits in one spreadsheet, the reserve study in a binder and the fixed asset register in a third application.
Integrated
Capital planning and asset tracking share one database. Asset adds and disposals, membership models, initiation fees and capital dues flow through to planning and replacement costs.
Reactive
Updates happen “when we have the time or the money,” as detached, one-off events.
Proactive
A seamless view of capital requirements, funding sources, asset inventory and membership, so leadership stays focused and the process survives leadership transitions.
Powerful software. Proven process.
Every part of a proper capital plan has a home in COMPASS
Proper capital planning is comprehensive, accurate and continuous. It has to fund the full hierarchy of capital needs year in and year out, and it has to rest on detailed membership modeling. Each component maps to a function in the COMPASS software.
Obligatory capital needs
Our Asset Evaluation Team visits your club and inventories every capitalized asset, with its projected end of useful life, current replacement cost and projected inflation. Ongoing data management keeps adds, disposals and vendor pricing current.
Aspirational capital needs
Name and quantify each aspirational project, such as fitness and wellness, casual dining, pools or pickleball, and tie it to a year in the plan so the plan reflects the club’s vision in its own language.
Debt service
Enter any number of loans and COMPASS builds the amortization schedule, including interest-only periods, draws, balloons and extra principal. Payments flow straight into the cash flow model.
Membership modeling
Define membership classes in your club’s own terms, set caps, and model intake, attrition and transfers by class. See the impact on initiation fees, capital dues and assessments instantly.
Initiation fees
Set initiation fees by class, paid up front or over time with interest. Income carries into the cash flow forecast automatically.
Assessments
Model assessments top-down or bottom-up by member category, paid up front or over time, including potential assessment-related attrition.
Operating ledger
Project dues revenue, non-dues revenue and expenses forward so each year’s operating result feeds available capital, and see the full cost to belong.
Reporting and analysis
Meeting-ready reports and charts through integrated Microsoft Power BI, built for management, committees, the board and the membership.
How the COMPASS program works
A methodical, data-driven approach to closing the funding gap
Models may not always be perfect, but the process of modeling is mission critical. COMPASS software does the calculating, analyzing and reporting that turn capital planning and asset management into a perpetual process. The process is the same for every club, regardless of location, size, type or quality.
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Get a closer look at COMPASS
Whether you are a club manager, a CFO or a member of the board or finance committee, you have probably felt the frustration of not having enough capital to meet the club’s needs. Tell us about your club and the COMPASS team will be in touch with a proposal.
Want the details first?
Prefer a conversation?
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Capital Planning Resource Center
Research and education on private club capital planning
Whitepapers, on-demand webinars and articles from Club Benchmarking on capital planning, capital KPIs and how to bring the capital conversation to your board. Free to read and share with your finance committee.
Thinking Bigger Sooner: The Key to Proactive Capital Planning
Why clubs that plan for capital early and comprehensively avoid the reactive cycle of assessments and deferred investment.
The Capital Scorecard: Measuring Your Club’s Capital Health
A framework for measuring whether your club is generating and reinvesting enough capital.
Proper Capital Planning Is a Process, Not a Project
An on-demand look at the COMPASS approach and why capital planning has to be continuous.
Effective Management of Capital Planning
Practical guidance for managers and finance committees running the capital planning process.
Executive Dashboard: Capital KPIs
The capital metrics every club leader and board should be watching.
How to Start a Serious Discussion About Capital Investment with Your Board
How to frame the capital conversation so the board engages with facts.
Common questions
COMPASS capital planning, explained
What is COMPASS?
COMPASS is Club Benchmarking’s comprehensive asset management program for private clubs. It combines capital planning software, an onsite Asset Evaluation Study, a proven capital planning process and ongoing support to keep a forward-looking capital plan current.
Is COMPASS a reserve study?
No, it is more than a reserve study. A reserve study is a one-time snapshot. COMPASS keeps your asset data current and connects it to membership modeling, debt service, initiation fees, capital dues and assessments in one forward-looking capital plan.
What is an Asset Evaluation Study?
The first half of the COMPASS process. Our Asset Evaluation Team inventories every capitalized asset at your club onsite and documents its remaining useful life, current replacement cost and projected inflation. That asset evaluation and replacement cost data becomes the foundation of your capital plan.
What is included?
The COMPASS software, an onsite Asset Evaluation Study by our Asset Evaluation Team, data management updates for asset adds, disposals, inflation and vendor pricing, support from the COMPASS facilitation team, and Power BI reporting.
What planning horizon does COMPASS use?
We recommend a ten-year horizon, and the software supports longer or shorter ones. Each year the plan is updated, another year is added, and the cycle begins again.
Is capital planning part of Navigator?
No. Navigator is Club Benchmarking’s benchmarking subscription and does not include capital planning tools. COMPASS is a separate program built specifically for capital planning and asset management. Explore Navigator
How should a club fund its capital plan?
Club Benchmarking research indicates obligatory capital is best funded through recurring capital dues, and aspirational capital through initiation fees. COMPASS models capital dues, initiation fees, assessments and debt side by side so the board can compare strategies.
Who uses COMPASS at the club?
General managers and COOs, CFOs and controllers, and board and finance committee members. Because the plan and its history live in COMPASS, the process continues through leadership transitions.
Continuous. Dynamic. Integrated.
Set your club on the path to a sustainable capital future
Stop deferring investment and start generating the capital your club needs, with a plan that never goes out of date.
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