A Message from the President

 

Dear Fellow Members,

 

I, along with your Board of Governors, sincerely hope that you and your family members are staying healthy and safe during this uncertain time of dealing with the Coronavirus. As you are aware, virtually all places of public gatherings are closed.  The Princeton Club is no different, and we have been forced to close for the foreseeable future. We will update you with any new information related to the Club through our website and emails.

 

Unfortunately, in addition to the service interruption aspects of this, there is a significant human cost.  With no near-term room, restaurant, banquet or other business forthcoming, The Princeton Club has been forced – like many other businesses and institutions – to lay off most of its employees.  Clearly, it is our sincerest hope that we can bring them back in due time.

 

In the meantime, our primary focus is to take care of those employees during this unprecedented and painful period.  We are stretching our cash reserves to their limits, but those reserves alone will not cover ongoing critical funding to our temporarily laid off employees – specifically with respect to ongoing health care insurance and other benefits funding, which is continuing, in fact increased, as a result of these layoffs.  We are obliged, and have some union contract obligations, to help our temporarily laid off employees by paying their accrued sick and vacation time if requested, and covering employee health benefits for the next several months.

 

We are stretching our cash reserves to their limits, but in addition to covering critical funding to our temporarily laid off employees, we still need to defray all the obligations necessary to maintain the fabric and viability of our vacant Clubhouse.  The Club has monthly bills such as the mortgage, utilities, Real Estate taxes, and vendor invoices for services rendered prior to closing.

 

Consequently, and after much discussion, we need to ask you – our members - for help.  Many clubs are asking for an assessment to cover their cash shortfalls. Instead, we are requesting a “pull-forward” of 25% of your 2020-2021 dues which we would normally bill in July.  We will be charging this amount on your next invoice and will credit your annual dues statement the pull-forward amount. For those members who are able and generously opt to support the Club by paying their 2020-2021 dues in full, the Club will apply a 10% credit to your account to use for food, beverage and guest room charges when the Club reopens. We hope that you understand this immediate term need and that you will support the dedicated, long-term employees of the Club whom you have grown to know and appreciate over the years. If you have any questions please send an email to contact@princetonclub.com and a staff member will respond as quickly as possible.

 

Our PCNY member community has always been supportive of the Club and helped it through other extraordinary times.  We appreciate your support and understanding now as we work to sustain the Club and reopen the doors to our members and employees when it is safe to do so.  I thank you for your understanding and wish you and those close to you all the best while we get through this unsettled period together.

 

Sincerely,

 

 

Richard H. Block ’73

President