* £2,500 of these waivers are conditional, with conditions we expect to be able to meet
# £4,960 of these donations/waivers are conditional pledges.
This Capital Appeal - please see here for the letter - is a key part of the Onwards and Upwards campaign to reduce subscriptions from 2016 onwards and we believe will help generate new members. If we can raise enough to repay all the bonds, on current budget numbers there would be an estimated total reduction in subscription charges of £80 from eliminating the Development Levy and reducing subscriptions.
Bondholders have been most generous in donating £100,875 to this appeal to date and we have a further £100,000 of funds that we have been building up from your past Development Levy payments. In this appeal we are asking the whole membership for voluntary donations to cover a target of the remaining £160,000 necessary to repay the bonds in full.
We do understand that the financial positions of our members vary widely. We quite understand, therefore, if members are not currently in a position to give very much, or indeed anything. However, full and couple members would have had to pay £849 and £1,274 respectively had the bonds remained in place until their original maturity in 2026. Perhaps members could bear this in mind when deciding how much to donate
As stated in our appeal letter, the suggested minimum donation is £265 for members or £395 for couples, this being less than a third of what they would have had to pay if the bonds had remained in place.
Without wishing to presume in any way, we very much hope that there will be additional members who are willing to donate at the £10,000+ level to add to the three who have already done so in Phase 1, and a good number of £3,000+ donations to add to the eight already made in Phase 1. We say this in the context that in Phase 1 just 71 members were approached, whereas this appeal is to the whole membership – 1,169 adult members in total. Please see details here.
Combinations of donations and bond waivers for those who have unwaived remaining bond holdings are also most welcome.
All donations will be recognised unless requested otherwise – please see note below and in the appeal letter.