April 16, 2024

The founding and success of Alberta Tennis Centre (“ATC”) have been a product of the vision, commitment, determination, expertise and financial support of a large number of Albertans who are passionate about the sport of tennis.  Our annual reports which can be found on this website, provide an excellent encapsulation of ATC’s annual accomplishments.  Below, is an overview of the fundamentals underlying ATC’s tremendous success since its opening in 2016.

Non-Profit

The corporate entity which owns the facility “Tennis Alberta Acadia Tennis Centre” (“TAATC”) is a non-profit Alberta corporation, whose sole mandate is to provide world-class tennis facilities to Albertans.  Beginning in 2014, approximately 100 individuals and families donated over $6.5 million to bring the vision of ATC to reality.  Non-individual contributions came from the Province of Alberta ($2.4 million), Tennis Canada ($0.5 million) and Calgary Parks Foundation ($0.25 million).  In 2022, ATC’s bubble expansion was funded and constructed.

Below is a schedule of the primary funding of both the Osten and Victor (“OV”) building and the bubble expansion.

 

TAATC Shares Have No Economic Value

There are currently five outstanding common shares of TAATC, all of which were issued to original founders of TAATC who were involved from the very first day of the vision of TAATC.  In accordance with the Articles and Memorandum of Association of TAATC, these individuals hold these shares on behalf of and for the benefit of the general tennis community in Alberta.  The shares have zero economic value as they have no rights whatsoever to any monetary returns such as dividends, proceeds on dissolution nor economic proceeds upon transfer of the shares to third parties.  None of the founders (nor the TAATC directors) have ever received any compensation for their involvement since its first envisioning.

 

All Excess Funds Go to Tennis

Pursuant to our mandate, all excess funds that are generated from operations of TAATC are dedicated to reinvestment into the sport of tennis within Alberta.

 

City Lease – Public Access

Pursuant to TAATC’s lease with the City of Calgary, a minimum of 50% of the facility’s capacity must be available for participation by the general public.  TAATC is fully in compliance with this requirement.

 

Strong Focus on Community

TAATC has a fundamental focus on providing optimal value to the Alberta tennis community as a whole.  This is demonstrated by the many initiatives that TAATC has undertaken in support of tennis in the province:

1. Schools program that has introduced over 60,000 kids to tennis;
2. “She Can Play” and other initiatives to promote women in tennis;
3. Hosting of tournaments (from 8 to 12 per year, except 2023) at junior, adult and senior levels for the full scope of tennis governing bodies including provincial, national and international (ITF, ATP – National Bank Challenger);
4. Outreach group instruction programs to over 20 communities throughout Calgary;
5. Funding to disadvantaged kids to play tennis;
6. Cash and ticket donations to charitable events and organizations;

 

Entrepreneurial Team

The founders and Board of TAATC are highly entrepreneurial and possess much business experience, and critical connections.  As such, they are able to undertake bold actions in order to advance and grow TAATC for the benefit of Albertan tennis players.

 

Positive Culture

TAATC management goes to great lengths to ensure that TAATC has a very strong positive culture in which employees are empowered to perform at their independent best as well as identify with the vision and beliefs of TAATC.

 

Earned Credibility

TAATC has demonstrated its ability to envision, fund, create and operate tennis facility projects.  Accordingly, TAATC has much credibility within Calgary, the province, across Canada and internationally.

 

Tennis Programming

Excellent tennis programming is core to TAATC’s success.  This programming is only possible with the exceptional team of tennis professionals at TAATC.  Therefore, retaining this team is pivotal to TAATC’s long-term success.

 

Governance

TAATC has made a concerted effort to enhance its internal governance practices.  Robust governance practice is now in place.

 

Fiscally Conservative

The Board of TAATC is fiscally conservative.  Since TAATC’s founding, its financial position has always been carefully capitalized and managed.  TAATC now enjoys a strong financial position which allows it to operate from a position of strength.

 

Expansion

TAATC is working to execute on a major expansion on adjacent lands.  There are no guarantees we can pull this off, but we are optimistic.  The scale of this expansion would elevate TAATC to a position of prominence as the largest publicly available tennis centre in the country.  The expansion will serve to greatly benefit TAATC patrons directly as well as generate more surplus funds from operations that can be directed at projects aimed at expanding the sport of tennis throughout the province.

 

On behalf of the Board;

 

TENNIS ALBERTA ACADIA TENNIS CENTRE

_________________________________

Allan Fowler

Chairman

 

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