One of my 'former' clubs charged $150 PLUS the $50 for the new member.....I guess that $100 went into the 'fund' that was used to build the place at the original time - improvements, etc.....many clubs use regular dues for year-to-year expenses and those initiation fees help the savings account.

My current club 'lives and breathes' on our $50/yr ($25 for snow birds)....if we don't have it in the bank, it doesn't get spent. In fact we are adding some 'shade' (~20') for about $600 this week.