Club weathers pandemic by staying engaged with members, continuing to sponsor news events
The National Press Club has remained vibrant and maintained full employment of its staff throughout the coronavirus pandemic, Club officials said Wednesday during a General Membership Meeting.
The Club, which suspended in-person activities on March 16, received a $1.515 million loan on April 30 through the Paycheck Protection Program. The loan facility, established by the CARES Act, provides low-interest loans to small businesses that can be forgiven, if certain conditions are met, such as avoiding layoffs.
The PPP loan, combined with a $300,000 line of credit from the Club’s bank, has enabled the organization to keep each of its 113 employees on payroll. The financing will help the Club weather the pandemic without tapping its $4 million in cash and reserve investments or its $9 million in long-term reserve investments.
Club President Michael Freedman said the Club has been resilient in responding to the “head-spinning turn of events” caused by the pandemic by “placing the top priority on the health and safety of our members and staff, keeping the Club financially viable, [and] providing both virtual and in-person member services, including helping those in need.”
The General Membership Meeting was conducted as a webcast utilizing Zoom.
Freedman always emphasizes that the Club has suspended in-person activities but has not completely shut down over the eight weeks that the pandemic has forced governments in the Washington, D.C., region and across the country to issue stay-at-home orders.
Since mid-March, the Club has hosted Virtual Newsmakers with political leaders and medical experts. It has held a Virtual Pub Quiz and has scheduled a Virtual Taco Night for Friday, May 15. It has remained active in promoting press freedom, including sponsoring Night In with Austin Tice on April 29.
The Club donated 1,600 pounds of food to the D.C. Central Kitchen to help local school children who were missing lunches. The Club staff has delivered groceries and other essentials to vulnerable members and has offered assistance to members who have lost their jobs because of the pandemic.
“The National Press Club and the National Press Club Journalism Institute have remained open and actively engaged with our members and with our colleagues on the front lines around the world,” Freedman said.
In other reports at the meeting:
Membership: The Club had 2,919 members as of the end of April, down 2% from 2,995 at the same time last year. The number of journalist members increased from 1,466 to 1,477; the number of communicators increased from 705 to 820; and the number of young members increased from 272 to 282.
Treasurer: The Club is projecting a $3 million to $4 million loss in 2020, compared to a typical $1 million profit. The loss will be cushioned by the loans the Club has obtained.
National Press Club Journalism Institute: The NPCJI has launched a daily newsletter and writing group, sponsored several weekly programs and has offered online library services since the Club suspended in-person activities. “The Institute is now serving hundreds of journalists daily, something we’ve never done before,” said Angela Greiling Keane, president of the NPCJI board of directors.
Club members can view the meeting video below by logging onto the website.