The New York Young Republican Club is happy to report that in the almost 5 months since this new administration has taken over we have seen the state of the Club’s finances markedly improve.
Prior to this administration, this club relied on the annual gala to fundraise for the entire year. While this model worked to host some events, it severely hampered the ability of the club to bring in big speakers and grow substantially. The club would remain at best, an afterthought.
As many of you know, this club is not financially supported by either the National or State GOP and we rely entirely on our membership to fund all the events and activities that we host. Being a self funding organization has a silver lining though, we are beholden to no one and we can support the candidates and policies important to our generation. We are not forced to stand behind candidates or organizations that do not share our values.
The new vision for the Club that we laid out in April is one of growth, where we would increase the number of events and quality of speakers. This has proven to be a success as we have increased our membership from 180 to over 350. Furthermore we have been able to increase the Club’s capital base by almost 121%. On April 1st the Club had $18,722 on hand. As of September 17th the Club has $41,415 on hand, a net increase of $22,693.
What make these numbers even more noteworthy is the fact that we had major expenses over these past few months, including a $5,000 deposit to rent the Grand Ballroom at the Yale Club for our 107th Annual Dinner.
We will continue to provide regular reports on the state of the Club’s finances in the interest of transparency and we will also continue to strive for financial prudence.