Gear Sharing Deal and Financials – 2/3/16

For 2015-2016, a gear sharing deal was worked out between PSOC and Penn State Adventure Recreation. The goal of that deal was to get more students outside. So far, it’s been very successful. Here are some of the details of that deal, and some of the numbers so far this year:

  • All active PSOC members get free gear rental from Adv. Rec.
  • Deal was 1 year only (trial period)
  • Cost to PSOC $150 TOTAL (bargain!!!)
  • Responsible for increase in membership and number of trips from 2014-2015
    • Number trips and events has already exceeded 2014-2015 totals
    • Membership is up 40%
  • So far this year, PSOC members have rented over $3200 worth of gear!
    1. This is awesome! Tons more people are getting outside.
    2. That is a lot of gear use. Adv. Rec. has costs themselves (overhead, cleaning, repair/replacement)

For 2016-2017, we have two options:

  1. Forego gear deal with Adventure Rec (and use personal gear/buy club gear)
  2. Negotiate and sign new deal with Adventure Rec

Our officers sat down with Adventure Recreation 2 weeks ago to negotiate a new deal.

Here is the deal that is being proposed for 2016-2017:

  • $1500 flat fee to Adventure Rec, to be paid at beginning of year
    • This comes out to about $7.50 of dues per member
  • Free group gear rental for PSOC trips
  • Free personal gear rental for non-PSOC trips
  • Up for re-negotiation next year, based on membership, etc.

Based on the success of the gear deal this year, the great relationship with Penn State Adventure Rec, and the club’s current financial standing, it is the recommendation of the officers to approve this gear deal for next year.

In order to help your decision, here is a summary of the financials of this year to date, and the previous 3 years. Notice that we currently have approximately $6100 left in the budget for this year (“Net Income”).

psoc_financials_2016

Any questions, feel free to ask the officers at psoc-officers@googlegroups.com.

-Aaron