Mid-Year FSC Financial Update
Many of you have asked how the clubhouse is doing financially this year. We wanted to provide an update through the month of August. We will continue to update you in the months to come. You’ll find graphs below. Here are a few highlights from Fitchburg Serenity Club Treasurer Dave S.
- Income is down, but trending up from May. Specifically, rent is down, but trending up from May.
- We currently have 238 FSC members. Of these, 142 members are current on pledged giving. During this time of financial challenge for many, we are not ending memberships due to lack of payment. However, those able to resume/maintain membership pledges during this time are encouraged to do so.
- Operating expenses have been reduced to accommodate the lower income. (Minor) Repairs and Maintenance is the largest discretionary category being reduced.
- Capital projects previously funded are in process. New capital funding that can be held off is suspended during this time of austerity.
Monthly Income Trend September 2019 through August 2020
FSC Income vs Expenses September 2019 through August 2020
While revenue has fluctuated significantly, normal monthly operating expenses remain constant. These operating expenses run about $6000 monthly for FSC. When monthly income doesn’t cover this amount, we need to tap our prudent reserves.
The extent to which we need to use reserve funds for operating expenses impacts our ability to cover big-ticket items to maintain and preserve our beautiful, old clubhouse. Earlier in 2020, those big-ticket items included HVAC fixes, a much-needed security system installation, as well as a safer set of steps and walkway up to the building to replace the old paver walkway.
Prior to the pandemic impacts, we had planned to move forward with kitchen renovation, but have put this project on hold in favor of focus on must-do projects for the sake of repair and maintenance and keeping the doors open. For example, this fall/winter, we will likely need to invest in some major HVAC system repairs and upgrades.
If you have questions, you may always email the FSC board. Thank you for your continued 7th Tradition donations for Fitchburg Serenity Club.
You can make a one-time donation or set up recurring donation amounts via our Paypal donate link below or at any time from our homepage.