New Zealand Golf will report a surplus of more than $400,000 for the year at next month's annual meeting in Wellington.
It represents nearly a $1.5 million turnaround from the previous year when it lost more than $1 million, mostly through the promotion of the New Zealand Open.
The improvement is the result of changes made under a new administration led by chief executive Bill MacGowan.
NZG chairman Philip Hassall said: "If 2006 was noted for financial issues around the New Zealand Open and loss of Sparc funding, then 2007 will be noted for the rebuilding of the organisation and the addressing of issues that have dogged New Zealand Golf in the past."
Hassall said the success was based on a highly skilled management team, excellent New Zealand Open, financial viability and the continued process to work with stakeholders in the sport to present a "one voice" approach.
Many believed it was a brave move to take the New Zealand Open to the South Island for the first time in 22 years, but it proved a masterstroke for a highly successful event at The Hills Golf Club in Arrowtown.
MacGowan said the change in management structure for the New Zealand Open was a key.
"At the same time the success of the event near Queenstown, which attracted more than 35,000 spectators, has given the sport a real fillip."
One position on the board will require a vote at the meeting on May 1. Four people are seeking three places as directors.
President Patsy Hankins (Taupo) and vice-presidents Mike Alexander and Jeanette Futter are unopposed.
Heather Newson and Jeanette Futter will return as two of three female directors and will be joined by new nominee and former New Zealand representative Liz Douglas, who replaces Susie Simcock.
Hassall (Waikato), David Howie (Hawkes Bay) and Richard Taylor (Auckland) are seeking to retain their places as directors with new nomination, television broadcaster Peter Williams.
