Dear Members,


This letter aims to shed light on the financial concerns and strategic considerations of the PMYC Leadership. With an eye towards navigating potential economic downturns, the leadership has been exploring various strategies to enhance club revenues. A thorough analysis of PMYC’s financial health over the past five years, coupled with a cautious forecast for the next five and beyond, forms the basis of our discussion. Here, we outline our financial journey, present status, and potential future scenarios, accompanied by strategic proposals to safeguard and sustain the club’s prosperity.


Over the past decade, fluctuating membership numbers have occasionally necessitated tapping into our reserves to cover both routine and exceptional expenses—ranging from rent and insurance premiums to tax obligations. The period post-2018 has been particularly volatile, with the dual challenges of economic fluctuations and the COVID-19 pandemic significantly impacting our operating budget. Traditionally, membership dues and event sponsorships have been our main revenue streams, typically sufficing to cover costs and maintain a break-even financial position.

However, the post-pandemic era has seen a stark increase in utility and maintenance expenses, effectively doubling in some cases. Despite these challenges, concerted efforts by our Membership Committee and the broader club community have led to a welcome increase in membership, alleviating some budgetary pressures. This uptick in membership has not only enhanced our financial stability but also bolstered event donation revenues, marking a positive shift from our position five years prior. Prudent financial management and targeted investments in club infrastructure and technology have further contributed to our resilience. Noteworthy improvements include exterior renovations, interior upgrades, and the adoption of cost-saving technologies such as switching to YouTube TV from satellite television, and implementing online billing—a move that has yielded significant annual savings.

Current Status

Today, PMYC’s membership profile includes 130 Regular Members, 17 Continuing Staff Commodores, 15 Non-Resident Members, and 3 Cruising Members. This stable membership base is vital for managing our increasing operational costs. Our events not only sustain themselves financially but often provide surplus funds for charitable activities, evidencing our solid financial standing at this juncture.

Looking Ahead

The economic landscape of 2021-2023, marked by heightened uncertainty and new regulatory demands, prompts a forward-looking assessment of our financial sustainability. The potential for increased operational costs to outpace our revenue streams is a growing concern. Seasonal fluctuations in membership, with peaks in spring and troughs in winter, further complicate our financial planning, highlighting the need for strategic action to prevent falling below our critical break-even point.

Strategic Proposals

In response, the Board seeks the membership’s engagement in a proactive dialogue to address these challenges. We propose a series of strategic measures designed to fortify PMYC’s financial future. These include evaluating the necessity of action, considering dues adjustments, enhancing membership drives, and exploring new revenue-generating activities. Your insights and participation are crucial as we navigate these considerations together, aiming to ensure the club’s enduring success and resilience.

Commodore Dan Fagan