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Dock Talk - Winter 2007-2008
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Thank You Jim
By Bud Edwards
Few people realize how close the Fort Frances Canadian Bass Championship came to folding when the magnitude of the 2006 defi cit became clear. Previous years’ spending had consumed all of the tournament’s “Rainy Day Reserve Funds”. Sponsor support was maximized. Its major income source, bar sales, had leveled off while site and related expenses continued to grow. This was the serious set of problems Chairman Jim Cumming and FFCBC faced at the end of his first year of leadership. His options were limited and difficult.
Although the 2006 income statement showed a deficit of $19,365.00, the actual figure could have been much higher – closer to $28,000.00. A 5-star sponsor, totally committed to FFCBC since its creation in 1995, decided to forgive $9,000.00 in invoices. This tremendous action reduced the deficit to a possibly manageable level. Thank you Jim and the Fort Frances Times. To operate in 2007 and beyond, FFCBC expenses had to be reduced or held at current levels, income increased plus a new source of significant revenue found. When a longtime sponsor revamped its national marketing strategy, Jim’s challenge suddenly became even more daunting. Marketing plans of the beer company radically decreased support of fishing tournaments resulting in a reduction of $7,000.00 in sponsorship income.
The two potential sources of substantial new income Jim and the Board considered were:
(1) Secure a national or multi-national company prepared to invest a minimum of $35,000 in cash per year to become the title or premier sponsor of the tournament or;
(2) Create a new income stream from the anglers by increasing the size of the field, increasing the entry fee or reducing the prize board or some combination thereof. Over the last decade considerable effort had gone into landing a national sponsor, but to no avail. Although well known across Canada and the United States, well respected and constantly rated as one of the best bass tournaments on the continent by anglers and sponsors, the reality is that FFCBC is a regional tournament in sparsely populated Northwestern Ontario. Jim could not risk the tournament’s future on reviving a possibility.
Meanwhile the task of individual Directors was simple - develop a bare bones budget. As the work progressed, a signature feature, Bass Bucks, was deemed too costly and consumed far too much volunteer time to sell, recycle, redeem and track. Therefore they were eliminated. Likewise, Fish/No Fish, introduced in 2006 was not renewed. Other features were cut back or held at previous levels but the major costs remained. These were the rental of the big tent & smaller tents; fencing; port-a-potties; tables; chairs; stage construction; electrical services and the sound system plus fish care and Day Time Land.
The preliminary 2007 budget confirmed that despite significant cost cutting, FFCBC still required between $25,000 and $30,000.00 in new income. It was decided to look to anglers for help.
The Angler Advisory Committee was consulted and they did not want to see the size of the field increased to generate more income. Nor were they in favour of decreasing the prize board cash payouts. That left adding an infrastructure fee to the entry fee as the only option. Since 1995, 100% of the entry fees had always been paid back as cash prizes. When the benefits such as angler kits, meals and other features were added the actual payout exceeded 100%, far above comparable events that returned 80% to 85% in prizes and benefi ts. Based on a full field of 137 teams, each entry fee had to be increased by $200.00 to make 2007 viable. Jim and the board hoped that the anglers would react positively. When announced, the higher entry fee caught most team captains and partners by surprise. As anticipated, many anglers reacted negatively, not knowing the scope of income shortfall. Despite a record number of cancellations and scratches, support remained strong and there was a full field in 2007.
The preliminary financial results for 2007 are very positive. Currently the FFCBC is tracking down the remaining invoices and confirming sponsorship values to finalize year-end totals; submit its books to the auditors for review and have them file tax returns for the non-profit corporation. For the first time in many years the Tournament will end the year with a small surplus. This will enable the Board to begin rebuilding the “Rainy Day Reserve Fund”. The time, both business and personal, that Jim dedicated to the tournament was a major factor in the financial turnaround. He used Fort Frances Times business trips around Northwestern Ontario, Winnipeg and points east to meet with current and prospective sponsors solidifying existing relationships and forging new ones. His work with Pinewood Sports and Marine, Lund Boats of Canada and Mercury Marine, Fort Frances Town Council, the Rainy River Future Development Corporation and Canada Safeway (Winnipeg), to name a few of his many contacts, resulted in thousands of dollars in additional support.
Equally important, Jim understood the necessity of keeping in touch with all sponsors. He not only personally “Thanked” businesses, individuals and government agencies for their donations of cash and in-kind contributions but also encouraged every director to do the same on a year round basis. Jim knew that the demand for volunteers, sponsorship dollars and product is fi erce. Fortunately, Fort Frances is blessed with very generous residents, businesses and corporations who willingly get involved. Incoming Chairman Tom Fry has big shoes to fill. He must maintain and increase the role of the FFCBC Board of Directors to preserve and grow the involvement of nearly 200 sponsors plus revitalize the volunteer base.
In many ways FFCBC is a mature event, which can be both a blessing and a liability. Tom, like Jim and the leaders that preceded them, must continue to look at all aspects of the Tournament from the perspective of spectators. With this view, change, whether small or large, operational or strategic, can best be put into action. Paraphrasing a favorite saying of a long serving director, “Whatever is being done this year, find a way to do it better next year”. In conclusion, Jim’s strong leadership, and many significant changes in day-to-day operations, guided FFCBC through the most difficult years of its existence. “Thank You” Jim for rising to the challenge. Putting the Fort Frances Canadian Bass Championship back on sound financial ground is a tremendous legacy for which your two hard years of decisive leadership will always be remembered.
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