TLDR:

We got $30,000 in donations to pay back rent and sponsor some events to help us raise money!

We have 2 new Interim board members, and 2 who have left, giving us an even 6 Board Members with experience and excitement ready to move things forward.

We got our tax-exempt IRS status back, and are on our way to getting our liquor license renewed.

We have BIG EVENTS planned for October and the Club is already in a MUCH better position than it was when we called our last Community/Member meeting!

Things are looking up, we are not closing, and the good news keeps coming!

We Are Not Closing Our Doors

The Albuquerque Social Club remains open and operational.

While we continue to face financial and organizational challenges, the Club is not closing its doors. Our focus is on rebuilding stability, reinforcing our systems, and securing a sustainable future for the Soch and our community.

As we work to stabilize, rebuild, and grow, we are asking for your input! Please fill out this feedback survey about some changes we might be able to consider at the club. It can be anonymous if you like, or you can choose to share information and potentially have a one-on-one meeting with a board member to elaborate on your suggestions.

Survey: https://forms.gle/94UWpb1DqC239TGY7

Development & Sponsorship Update

We are deeply grateful for an anonymous restricted donation of $5,000, applied directly toward back rent.
This gift demonstrates continued confidence in the Club’s financial recovery plan and accountability practices.

Additionally, we are so excited and grateful to announce that Bernalillo County Commissioner Adriann Barboa, District 3, generously sponsored the Halloween Bash and a small series of events to follow! This contribution from her District Directed Funds amounts to $25,000! This is the largest investment from a single supporter the club has ever received! This means we have the overhead covered for several small events, and specifically means that our Halloween Bash is set up to be a big hit that helps bring in more income and hopefully new members!

Albuquerque Social Club – Financial and Organizational Update

Membership Special

To encourage greater participation and accessibility, we’ve lowered the annual Social Membership rate to $40 for the remainder of the year.
This adjustment makes it easier for more members of our community to reconnect with the Soch and directly support the rebuilding effort.

If you haven’t renewed yet, now is the perfect time — your membership keeps our doors open and our mission alive.

Financial Overview

Last weekend wasn’t as great for the club as the two before it. We only had $3,811 (“profit”) when we made $7,502 the weekend before.

Two weekends of really good income were great, but the inconsistent revenue from one weekend to the next makes it more clear that we have to fix the structure of how the club brings in money. We have to be more stable.

This week resets the sustainability clock. We are back to being “behind” on income. Two strong weekends alone do not create a long-term survival environment.. For the club to be in a place for true sustainability, we need to hit these key points, every week, for 3 months:

Weekly Financial Stability Targets

Average weekly net income goal: $8,000 or more
Bills and operating expenses kept below: $7,200 per week.
Consistent daily income whenever the Club is open (so special events are bonus revenue, not survival income)

The club is in a “safe zone” when:

Weekly net income remains positive and stable for at least three consecutive months.

We bring in more money than we spend weekly (bills, payroll, inventory)

Operating reserves equal or exceed one month of average expenses.

We have at least one month of basic expenses (bills, payroll, inventory) in the bank to use as a cushion.

Net income trends upward or remains level without reliance on one-time events or outside subsidies.

We are bringing in at least the same amount (more than we spend) every week without one-time events or special fundraising peaks required.

Cost-Saving Progress

We continue to cut unnecessary costs:

The Comcast bill was cut by 34%, from $491.11 to about $324.00 per month, saving $2,000 each year
These savings reduce overhead and get us closer to breaking even each month..

We keep looking at the cost of utilities, insurance, and vendor contracts to identify ways to cut expenses without hurting the operations or member experience.

Finance Committee

The Finance Committee meets every Wednesday now from 6:00 PM to 8:00 PM.
The team is focused on reviewing checks written, scanning paperwork into QuickBooks, and attaching invoices where possible. We will continue to make our findings transparent as we build a complete financial picture.

Big Milestone achieved!
We are pleased to share that the Albuquerque Social Club is officially reinstated as a 501(c)(7) organization until/unless otherwise notified by the IRS.

We have filed the 990s (Federal taxes) for previous years and corrected the clerical error with the IRS. With this correction, we can move forward confidently.

Next, we will focus on strengthening our financial systems and renewing the Club’s liquor license as our next critical compliance step. Getting the IRS issues taken care of gets one step closer to securing that license!

Our next task is working on the Liquor license renewal.

Membership meeting October 26th 3:30 pm

Committee Development & Community Mobilization

Rebuilding a strong organization takes time, structure, and patience.
While the Finance Committee is now fully active, the launch of other committees has been slower than we hoped—not from lack of effort, but because the groundwork must be solid.

We’re working to build a structure that allows every committee to function with clarity, purpose, and transparency.

First, we must define roles, processes, communication pathways, and systems so volunteers can engage meaningfully and get things done.

The committees we’re working on are:

Governance – Strengthening organizational systems, policies, and accountability.
Programming – Developing events and community activities that build engagement and revenue.
Operations – Supporting staff, volunteers, and facilities with consistent procedures.
Fundraising – Creating new fundraising opportunities and partnerships for sustainability.
IT & Systems – Ensuring that internal data is secure and organized for the Board and committees to effectively manage documentation.

If you would like to get involved with any committees or volunteer opportunities, please contact us through this form.

Form: https://forms.gle/Gri1KbWh45UXfE4Y9

Board update:

The ASC Board met this week to address a couple of urgent items for governance purposes.

The Board is tasked with prioritizing the stabilization of revenue and finances, rebuilding the club's reputation, and creating a more sustainable structure moving forward. We need to position ourselves so as not to face this kind of crisis repeatedly every few years. The most important actions the Board of the Club can take right now are to prioritize these tasks above all else and work toward rebuilding ASC to last. Our community can’t afford anything else.

The Board recently met, accepted the resignation of one member, removed one board member for cause, and added two new members. These changes to the board will limit the organization's liability, ensure a smooth and sustainable governance structure is recreated, and accelerate the process of removing debt, allowing the club to become the community space needed— especially in this political and cultural climate.

The Current Board Members are:

Joshua Billiter - Intrium President & Treasurer,

Billy Dee Deason - Interim Vice President,

Marshall Martinez - Interim Secretary,

Robert Adams - Interim Member,

John Dao - Interim Membership Director,

Melissa Sanchez - Interim Events Director

Advisory Board: Gail Starr, JaxSugars, Missy Ramsey, Nathen Illidge-Welch

Upcoming Events:

Website update announcement

We wanted to let you all know we will be overhauling the website in the coming months to make it a better resource for you and the community.

Gratitude

To everyone who has contributed time, talent, or resources—thank you.
Your continued engagement makes it possible for the Soch to move from recovery toward stability.