Joining Fee
Joining Fee Policy
In 2011-2012, The Economic Club instituted a $50 joining fee. This non-refundable fee applies to both Upton Hall and Mainstage memberships and is paid in addition to the annual membership dues. The fee was created to help defray The Club's operational costs. It does NOT apply to individuals who were Economic Club members the previous year. For example, if you choose NOT to renew your membership in 2011-2012, but decide to rejoin in 2012-2013 or later, you will be assessed the $50 at the time of rejoining.
How this policy helps you and your Club
The Economic Club brings some of the most renowned men and women to Southwestern Michigan. Few communities, large or small, are able to offer the caliber of speakers we invite as our guests.
Securing top-notch speakers is a costly venture. Speaker fees continue to increase. Each summer, prior to dues being collected, The Club typically must pay a 50% deposit at the time of booking. This requires working capital.
As a nonprofit organization, your Club operates efficiently and leanly. The Club's officers and directors are volunteers. We have taken steps to decrease expenses and dramatically cut printing and mailing costs in recent years. However, we still need to build our financial resources, or working capital, so we can continue to bring in the requested speakers as well as keep your annual membership dues affordable. These financial resources are raised through current members renewing and new members joining.
The financial backbone of The Club, however, is our members who renew their memberships year after year. New members, and people who join sporadically, while always welcomed, do not contribute at the same level to the financial strength of The Club as do members who consistently return. So one of the challenges your officers and directors faced this year was how to equalize that contribution and encourage members to renew each year. Equalization and membership consistency are needed to generate the working capital that keeps The Club successful.
In The Club's research for solutions, we found that other clubs equalize their financial resources by charging a joining fee to new members as well as to those who rejoin after letting their memberships lapse.
If you have questions about this new policy, please contact us at info@TheEconClub.com or (269) 982-6010.
Thank you for your ongoing support of The Club and its efforts to enlighten you and your communities.