Clickthe link at the bottom of this item for the latest visualisatiuon video which includes an updated flyaround of the proposed new pavilion and also a walkthrough of the main rooms.
WE ARE ASKING OUR MEMBERS, FRIENDS AND SUPPORTERS TO HELP US
You will recall that we needed to raise £1.1m to build a new pavilion and to replace the existing building that is deteriorating badly. The very good news is that at £996K raised or committed, we are within £103k and very close to reaching our target. Part of the success in fundraising has been a £50k, interest free 5 year loan from the ECB, as well as a £100K grant. We have also looked to raise a £100k mortgage, for which Member approval is need at an SGM. Consequently, if we are to go ahead we will have circa £15,000 p.a. debt to repay for the first 5 years. I am sure that you will want to support the Falkland Trustees, in starting to build with the objective of being in the new pavilion by the start of the 2019 season.
In order to service the £15K p.a. repayments we would like your support for a covenanting scheme. The covenant would be a commitment to make a monthly/quarterly/annual payment, via a bank standing order to the Club. This could replace the annual VP donation. The advantage for FCC is that there would be a predictable income coming into the club, which would enable us to plan and use our finances in a much more effective manner, i.e., repaying the mortgage and the ECB loan. Most of the VP donations over recent years have been made via Find me a Grant and, latterly, The Good Exchange. This has been very successful and has enabled us to double donations and then use the monies to purchase new equipment and support our youth training programmes. We now need to focus on the future financial security of FCC and to pay off the loans that bridge the funding gap for the pavilion construction. The VP support for this initiative is a key part of our planning. If you are happy to support the Club with a covenant, attached is a covenanting form which I would ask you to complete and return to Glenn Wycherley, who has agreed to manage the scheme. The form includes a section which will enable FCC to claim gift aid on your donation, as long as you pay sufficient tax to cover the donation you make. As an example, if you committed to £10 a month, this would amount to £120 p.a., plus gift aid of £30, which would benefit FCC by £150 annually and if 100 VPs, Members and Supporters committed to doing this, that is the £15k annual debt repayment covered.
This is a big moment for the Club and you can help secure its future by completing the form and we will handle the rest. Completed forms should be sent to: Glenn Wycherley. 10 The Grange Newbury Berks RG14 6RJ or you can leave it for Glenn’s attention in an envelope at the club.
Thank you for your help,
Click below to open the attached covenant form in PDF or Word Docx format
Updated 13:23 - 11 Nov 2018 by Falkland CC