Club on Target for Another Profitable Year

With only two months to go in the fiscal year, the Club's goal of generating year-end profits of at least $1.4 million this year is expected to be reached following strong performances in September and October.

For the first time, the Club had back-to-back revenues of more than $1.3 million in September and October, Treasurer Keith Hill reported to the Board of Governors on Nov. 22.

Through October, the Club had profits of $1.355 million, exceeding budgeted profit of $1.262 million for the first 10 months of the year.

Hill said the financial outlook for the remainder of the year is good, with November expected to be profitable and December looking promising with strong advanced billings and events planned.

Executive Director Bill McCarren told the Board that the Broadcast Operations Center had another good month in October, with revenues of about $230,000 and revenue for the year to date at more than $1.9 million.

"We have felt that $2 million a year in revenue would be necessary for meaningful profitability," he said. "We are finally there."

The Club also had good news on the membership front, as the Board approved 32 membership applications, seven more than in October. Overall, there are 342 new members so far this year, compared to 393 for the same period last year.

President Alan Bjerga reported more good news on the Club's efforts to raise money for the Eric Fridheim National Journalism Library. He said that the Fourth Estate Award dinner honoring CBS correspondent Bob Schieffer had netted $15,000 for the Library and that coupled with the successes of the 5K race and the Book Fair, it had been a very good year for supporting the Library and its professional development programs.

Bjerga and Rick Dunham, president of the Library board and a past NPC president, presented a report on conclusions and recommendations regarding the relationship between the NPC and Library boards.

The Board also discussed the 2011 budget, which will be voted on at the board meeting on Monday, Dec. 13, and proposals related to next year's dues, which will be presented at the annual membership meeting on Friday, Jan. 21, 2011.

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