Since our opening, The University Club has been committed to bringing U of L alumni, faculty, staff, and friends together. Through your membership, you have helped shape the culture of our Club and carry on the vision of our founders, the Bingham Family.
As a loyal member, we wanted to write to inform you of the challenges we now face. The Club is funded through three revenue streams. Unfortunately, all are facing trying circumstances.
• The Bingham endowment which is managed by the U of L foundation was established to assist in
keeping dues affordable and to make necessary enhancements. Since 2013, the interest income
generated has been in steady decline. In 2013 the Club received over $256,000. This past year the Club received less than $145,000 (a decrease of $60,000 this year).
• Dues revenue has also been declining. With long-term recruitment strategies being discussed, there are no immediate solutions. We are resisting the consideration of dues increases and are focusing on other fund-raising efforts.
• Food and beverage revenue has declined sharply over the past year. As the university has tightened its belt, enacting new restrictions on meals, we have seen spending decrease by 21 percent.
While we have faced challenges before, this has been the first time we have experienced declines in all streams during the same year. The decline in the endowment and dues revenue has provided the largest impact, resulting in over $165,000 in decreased revenue. With your help, we will weather these times.
Since the beginning, we have been committed to hosting the Cardinal Family. We have celebrated with you through the years, hosted business luncheons and seminars. We are hopeful we will continue to serve you for many years to come, but we need your help. As we face challenges head-on, we ask you to consider making a tax-deductible donation to the University Club. Each gift, of any amount, will have a tremendous impact. The Club is a 501 C(3) charitable organization and each gift is tax-deductible to the extent permitted by law. Please note that at this time all donations will be used to fund operations.
Bill Rothballer, General Manager
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