Our members have spent countless hours over many years gathering historical documents. Often times these documents lead to more questions than answers. We intend to publish these historical documents in order to more clearly illustrate the remarkable inconsistencies they reveal.
Questions that remain unanswered:
How many intervals are there in the entire inventory of the Association? How many of them are owned by the Developer? How many of them are owned by members in good standing? How many are owned by members not in good standing due to non-payment of dues?
Is the Operating Agreement with Goodmanagement dated January 3, 2002 still the current operating agreement?
In the 2020 annual newsletter, the prior annual meeting minutes noted that Mr. Hoeppner was the Association Board President at the annual meeting. In the 2021 newsletter, Mr. Goodman introduced himself as the President, and he apparently has continued to remain the President since then. How was he appointed to that position with no disclosure to the members of the association, and when did that happen?
Considering Dale Goodman, who is President of the Sunrise Cove Association, as well as President of Goodmanagement was unable to answer basic questions during the annual meeting, what exactly is his firm doing to earn the $152,148 it is being paid?
How is the President of the Management Firm being paid a huge consulting fee acting as President of the Association not a conflict of interest?
Sunrise Cove is apparently not the only property Goodmanagement consults with. Are all Goodmanagement properties in equally rundown condition with dated technology and infrastructure? Why would a management company want to continue a relationship with a resort with so much potential in which so many guests are consistently unsatisfied, and not even attempt to modernize or improve it?
Why has the payment to Goodmanagement apparently been the same for over 20 years? Have the services remained identical, regardless of the number of active units in the Association, business climate, condition of the resort, or needs of the Association?
Is the Goodmanagement relationship being opened up to a competitive bidding process? Are there Requests for Proposals from competitive firms to ensure the Association is receiving a competitive service at a competitive price?
Is the Association actively dealing with members who are delinquent in their dues? If so, why are there so many delinquent owners that apparently remain members of the Association?
Why is there so little turnover in the makeup of the board members?
There is significant complexity to the accounting, involving line items such as “Interfund balances” and “bad debt”. The Operating fund ran at a deficit of 1.592 million dollars in 2023, after having run at a deficit of 1.441 million dollars in 2022, and the “Replacement Fund” ran at a surplus of $1,742,003 in 2023. This complexity and lack of ability by Mr. Goodman to be able to explain this to the members creates an appearance of mismanagement of funds, and extreme difficulty in tracking where cash flow is actually going for the Association.
For several years following Mr. Goodman’s apparent coronation as President, the members of the Association were not allowed to participate in meetings. Was this in compliance with the regulations that govern the Association?
What exactly is the long term strategic plan for the resort?
Why would Mr. Hoeppner allow an income producing asset on such a vaulable piece of real estate to deteriorate rather than run it profitably?
Why is Mr. Hoeppner so cagey when asked about the number of units he votes (as Developer) at annual meetings?
Iowa Resort Holdings appears to have received (and had forgiven) Paycheck Protection Program (PPP) loans of $216,079 and $154,300 in 2020. When comparing the financial audits of year 2019 (reported in 2020), and 2020 (reported in 2021), there appears to be little to no change in what was billed to the Association for expenses. Why was the Association not given credit for the total of $370,379 that Iowa Resort Holdings received for payroll relief? How were those funds spent if not for employee wages as required by the program?
Would the Iowa Department of Inspection investigate the moldy conditions that have been reported in several units, as well as other safety and health issues around the resort?
We would like full transparency around who is getting paid, how much, and for what?
Is there any plan to provide the owners the commitments that were made at time of sale?
Is there any plan to run the resort profitably and return it to a high quality resort, as the owners were assured when they originally purchased?
Does the developer intend to run the property into the ground only for sake of selling the real estate?
Why, when asked about the declining condition of the resorts, does the developer always pivot to events outside of his control? At what point will the developer, management company, or consultants take responsibility for the fact that they have completely failed to keep the property competitive, and completely failed to develop sources of revenue as resorts of this magnitude need to do in order to properly fund operations and maintenance?
The resort has published listings for the units on its website. The photos have embedded EXIF data that shows they were taken in 2008, making them over 14 years old. What are the ethics of publishing photos this old when marketing the resort to the public? This data is easily obtained by installing an EXIF data viewer in a web browser.
What is the developer’s actual intention?
How is the developer, management company, and Association Board so completely oblivious to the market of vacation destinations, the alternatives consumers have, and the expectations of the consumer?
Why is the management company not coaching the developer to improve the property to be competitive, not only for the sake of the value of the unit timeshare owners, but for sake of the income to the developer?
Considering the cleanliness of the units continues to be a primary concern, has the resort or management company provided expectations to the associates that clean the units? Is management confirming units are cleaned properly on a regular basis?
Our members report an increase in insect activity over the last several years, resulting in a significant increase in bites and swollen legs while outside at the property. Is resort management properly managing insect infestations?
How many nights per year does Mr. Hoeppner, Mr. Goodman, or any of the other board members actually spend staying in the units? Do they feel the condition of the units is competitive with expectations and the dues being paid by association members?
If Mr. Hoeppner, Mr. Goodman, or any of the board members of the Association would like to address these questions, we invite you to e-mail us at SunriseCoveOwners@gmail.com and we will be sure to forward your response to all of our members, as well as publish them to this website. We presume you are looking for the same level of transparency that we are!
Be sure to look at the At The Resort page to see items members of our group have documented regarding conditions at the resort.