As a relative newbie and hardcore lurker here, I have a few observations. Mods in the forums are nice, but in a lot of companies they pay someone to sit there and be a presence for the mods, using their handle. Response to questions is the goal, yes?
Ads are always a problem. There are ways to discover which ads work. IMO it boils down to the types of ads. I'd poll the membership, then encouraage advertisers to offer more value: discounts, contests, freebies, a membership role in the forums offering expertise and in-line links, advertorial-type write ups that inform and show involvement, podcasts of interviews with people in the business with something to sell that can educate (think of Michael Breed's Club Champion segments).
I'd be very interested to read a mission statement or the like on the site. Are you GolfWRX or Hacker's Paradise, etc. ? Do you focus on current topics and news or vintage equipment and ideas? Seems to me you can't please all the people all the time. I first encounted GolfSpy as a review resource, then was impressed by the expertise they evoked. Forums rely on the personality of your members. Nerds over at GolfWRX, fun-loving social types at HP. I don't get a feel for the membership here (although, I am not very involved yet).
I get the feeling this has all been hashed over and over already. From the site's POV, it is a branding problem. The site wants to maintain a strong brand, unique expert content, then attract like-minded loyalists. That means engaging members ASAP with new content and personal benefits.
Polling works to a certain point. Then, choices work better: Here are 3 homepage designs, choose 1. Here are 3 ad solutions, choose 1. etc.
Good luck.