Club Has 'Very Good' September, Strong Financial Outlook

The National Press Club had its second best month of the year in September, with revenue of $1.35 million, just $29,000 below the record June
performance.

"This was a very good month," Executive Director Bill McCarren said in his report to the Board of Governors Oct. 18.

He said the September revenue was $150,000 ahead of a year ago and $100,000 ahead of the revenue that had been budgeted for the month. The monthly profits were $277,000, 20 percent more than had been budgeted. It was the fourth consecutive month that Club out-performed budget projections.

The financial outlook for the last quarter of the year also looks strong.

October is off to a good start, and November and December combined should be profitable, putting the Club on target to finish the year on budget with $1.4 million in profit, Treasurer Keith Hill said.

President Alan Bjerga said that it was important to keep in mind that while the Club is performing very well, it still needs to continue to work to build up reserves of $3 million over the next few years, as recommended by the auditors. Current reserves are just under half that amount.

In other action, the Board approved 35 member applications, bringing to 274 new members so far this year, compared to 345 for the same period last
year.

The next meeting of the Board was set for 6:30 p.m. Monday, Nov. 22. Meetings of the Board are open to the Club membership.

-- Myron Belkind, Club secretary, [email protected]