For the first time, the Public House’s Board of Directors is calling a special member meeting.
The meeting will take place on Thursday, March 9 beginning at 6 p.m. at the Public House.
An email was sent on January 6 to notify membership of our ongoing financial problems and request members attend a discussion which occurred on January 12. Members who attended this offered many valuable suggestions and ideas. The WC and BoD are committed to keeping the Public House open but we need the members to decide how that will happen.
The purpose of this meeting is for members to vote on our various options to move forward, which include:
Members making direct loans to the Public House (for which we have precedent and a formula as we took direct member loans when we first opened)
Members making direct monetary gifts to the Public House
Members offering collateral to back the Public House obtaining a line of credit from a bank
Closing the Public House
The Board of Directors has called this special meeting as a result of persistent losses that pose an existential threat to the Public House. While we have never taken out any commercial loans, we have also only posted a profit as a business one year out of our 6 years open. Persistent losses have compounded and resulted in crisis. Attempts to reconfigure our management structure and some of our practices have proven fruitless thus far.
One root of the problem is our income: we need more people to drink here more often. And we need a cash infusion in order to stay open while we implement further changes to the way we operate. In the near-term, we will be seeking a small direct personal loan of $3,000 to make improvements and aesthetic changes to the inside of the space. It is our feeling that renewing interest in the bar is contingent on making the physical space more appealing. We have also increased the number of free events and are making changes to our internal policies to continue to cut expenses and improve service quality.
However, these improvements won’t take place if we can’t stay open long enough to make them. We hope that the membership drive coupled with requests for extra support from you will make the difference.
On the positive side, we posted a profit for the first time in months: $714.92 for the month of January. This is largely due to our manager and workers tightening up and reducing expenses as much as possible. But we’re also putting off paying bills and getting necessary repairs done.
How can I help?
We currently have:
- 173 lifetime members ($200 fully paid in)
- 184 active/renewing members (between $40 and $160 paid in and current on their membership)
- 704 expired/non-renewing members (between $40 and $160 paid in but membership lapsed)
Our specific request:
Lifetime Members: Would you consider giving the Public House the value of another Lifetime Membership ($200)?
Members: Would you consider buying up to your Lifetime Membership ($40 – $160)? If you’re not sure how much you have left, we can look it up for you.
Non-members and lapsed members. We get it, not everyone feels like they can swing $40 a year. We ask that if you want to help, that you gift us any amount. Even $10 – $20 makes a huge difference.
We sincerely appreciate any help you give between now and the special member meeting. Please join us on Thursday, March 9 beginning at 6 p.m. at the Public House as we carve out a path forward together.
RWPH Board of Directors