The Board Bulletin is a digest of the workings of the Mad River Glen Cooperative, published by the Board of Trustees for the benefit of our shareholders.
<aside> <img src="/icons/list_green.svg" alt="/icons/list_green.svg" width="40px" /> In this bulletin:
</aside>
It’s hard to not open this Bulletin, although a couple weeks late, with one more celebration of the recent land acquisition. Once again, a special thank you to the volunteers of the Collaborative Fundraising Committee, Matt Lillard, Ry Young, Virginia Ferris, and to all of you reading this who contributed!
During the March 21st monthly shareholder meeting, the Board of Trustees will vote on an increase in new share costs to $2500, as well as an increase in the yearly APR to $250. Please note that the Board has not increased the APR in accordance with the consumer price index year over year and is suggesting this modest increase to better account for increasing costs. Per the cooperative by-laws, “In 1995, the maximum commitment [APR] shall be $200 for each owner. The Board of Trustees may increase the maximum annual commitment to an amount no greater than the proportional increase, if any, in the consumer price index.” If the APR had been increased in alignment with the consumer price index over the past 30 years the APR would be ~$428 per owner as of February 2026.
If you have questions in advance of the meeting, please send them to [email protected] and we will collect them in advance of the meeting to ensure all questions are answered.
We closed out a great February Holiday week in style with a deep snow pack, fresh snow and lots of happy faces. I’m proud of how the team has handled the busy season. As we move into early spring my sights will turn to summer and next season as we continue to push to improve operations, the mountain and our wonderful community.
Management Report presented by General Manager, Matt Lillard:
The ski season's excellent conditions has resulted in strong performance through the first half of the ski season. Revenue is ahead of budget, up 20%, and Net Ordinary Income (NOI) is exceeding expectations by over 35%.
The Finance Committee is pleased to report that the money needed for the purchase of the adjacent 1,100 acres has been raised entirely from donations. Many thanks to all who contributed, both monetarily and with their time, as this helps keep the Co-Op in the best financial condition possible.
Finance Committee Report drafted by Bryan Hall (Treasurer) and presented by Will Kriewald (President):