The vast majority of our land and facilities are owned.  Heart's Desire's Balance Sheet (as of Nov 2008) lists total assets of $1.95 mil. with a note payable balance of $38,200 and total stockholders equity of $1,891,523.  Therefore, the book value is $79,709 per share ($1.95 - .382 divided by 24 shares). 

One of the most interesting aspects of the value equation is that the land was acquired over the years at an average per acre cost of $375.  Today's value of the land alone is much higher.  A calculation of the land value alone at $750 per acre yielded a value of over $100,000 per share.  Add all the improvements and equipment and you understand why this is such a value.

As further value enhancement, the preservation of this property for hunting and recreational use is virtually guaranteed with the corporate by-lays requiring an 80% vote to alter the use, meaning, to sell or develop.   Obviously, with this mandate, our concept is to preserve the usage of this acreage and all the improvements for generations. 

To financially support this club, the sources of revenue consist of dues, assessments and periodically the sale of timber.  Follow these links for an explanation of each.

Follow this link for the note repayment schedule - which, as of Feb 11, 2003 has been paid.  This is a Line of Credit facility available if needed later.