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Dear PSPG supporter,
As everyone knows, in today’s world if something cannot be insured, it cannot happen. Whether driving a car or your kid participating in a soccer team, insurance must be in place in the event of any accident or mishap. To proceed un-insured is to irresponsibly risk complete financial ruin.
After repair and maintenance of Gazela, insurance premiums are by far the biggest expenses of the PSPG. We are fortunate to have an endowment that generates enough money every year to fund baseline repairs and maintenance on the ship. The terms of that endowment gift, however, explicitly restrict its use, meaning we cannot use any of those proceeds to cover general operating expenses such as insurance. Our combined insurance premiums for 2022 (excluding worker’s comp, which can be covered with endowment proceeds) is $32,130.80.
The Guild is facing a crisis.
Between now and the end of the year we have two remaining premium payments on our primary maritime liability insurance policy totaling $13,278. The first of these payments, $6638, is due on August 24th, with the remainder due November 24th.
The board has made every effort in recent years to find the most affordable appropriate coverage, and to manage the payment schedule. The events committee is working hard to bring in earned revenue from dockside events. Individual Board members have contributed $4500 toward the August premium payment. Our Board, however, is not populated by wealthy people. We are hard-working volunteers who care about our ships, our community and our vision.
We know that our membership is also not generally populated by high net-worth individuals, but if we are to continue working toward our goals, we need to keep our doors open. Please consider making a donation of whatever you can afford. Better yet, by setting up a recurring donation you will increase the predictable revenue stream we have to plan for these ongoing expenses. Click on the button below to go directly to our donation page.
Thank you for your continued support.
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