How do i join SPJST lodge 88?

In order to become a member of the Swim Club @ Lodge 88, you first need to become a member of SPJST Lodge 88.

At least one head of household must:

  • Purchase a qualifying policy from Lodge 88 (cost determined by policy type and individual), and
  • Pay annual dues (currently $9 a year).

SPJST offers several products if you are interested in becoming a member. The policies offered are Whole Life, Single Pay Whole Life, 10 Pay Whole Life, 20 Pay Whole Life, Paid up at 65 Life, Universal Life, 10,15,20 and 30 year Term Life, Final Expense and Annuities. Current rates for Annuities are very competitive. If you would like more information please click on the appropriate tab or contact one of our licensed sales agents.

How do i purchase a Swim Club bond?

Unfortunately all 350 membership bonds have been claimed, but the specific bond language and price (price expected to be $5000) have not been finalized. We anticipate some attrition as we wrap up the details and begin collecting the bonds, so put your name on the wait list!

How does the money work?

Our original prospectus budgeted $1.75 million for capital to build the pool(s), tennis courts, basketball court, pool house and locker rooms, and make improvements to the existing lodge. However, the members will provide input and approve the site plan prior to moving forward with construction. Additional amenities have been discussed by the members and what is listed below is not the final plan.

$281 thousand was budgeted for annual operating expenditures covering pool maintenance, personnel, utilities, insurance, and as a contingency. Annual Dues will simply be the Annual Operating Budget divided by the 350 bond holding members.

Lodge Capital Budget - $1.75MM

CAPEX distribution above is from original Swim Club Prospectus prior to member input. (Thousands $)

Annual Operating Budget - $281K

(Thousands $)

how will the swim club be organized?

The Swim Club has formed a committee within Lodge 88 with a Swim Club Chair and committee members.

Before we begin operations, a single member (Lodge 88) manager managed (Swim Club Chair) LLC to protect the lodge and Swim Club's facilities. The LLC would be the operating entity for the Swim Club.

We anticipate that this operating agreement would be some sort of 99 year build to lease. Yes, we would mind all of the relevant terms and conditions.

  • The lease cannot be completed until after the Swim Club LLC is formed and no Bonds would be due until after it is completed.
  • The LLC would be negotiating the lease with the Lodge Board of Trustees.
  • This would also have the benefit of making the Lodge ground less desireable to potential buyers (Long term tenant with a lease that has already been paid up) making your investment more secure.

how will the facilities be designed?

We hired Kirksey Architecture to help with a "Programming Phase" which will result in one or two potential Site Plans for the membership to vote on. Kirksey held a visioning workshop and distributed surveys to help understand the our needs and wants for the facility. They collected data from the membership and created a vision for the facility based on recurring themes. The final plan must be approved prior to moving forward with construction.

 Prominent themes from the visioning workshop

Prominent themes from the visioning workshop


What prevents the landowner from selling?

If the Board of Trustees has an offer they think the membership should consider, they must give 2-4 weeks notice by mail that there will be a vote to approve/decline the offer. The only people that can vote are those members in attendance at that meeting.

Additionally, the proceeds from any such sale are the property of the Lodge, not the members, and members cannot personally profit from the sale of any Lodge assets.

Even if it all falls apart (which we have trouble imagining since our improvements will secure Lodge 88 as a staple in The Heights community), Bond funds would be refunded as a debt to the Lodge. Total bummer, but at least you would get refunded.