Make a Gift to Cambridge Sailing Support Funds
The Club maintains four Cambridge sailing support funds so that alumni can direct their gifts to different purposes. The funds also support windsurfing and kitesurfing.
- Boat Fund: The Boat Fund accumulates money so that the Club’s boats and gear can be refurbished and replaced regularly.
- Board Fund: The Board fund does the same for windsurfers as the Boat Fund does for dinghies.
- Entry Fees Fund: The Entry Fees Fund accumulates money to reduce the high entry fee costs incurred by sailors and windsurfers in attending university and other events around the country.
- Hardship Fund: The Hardship Fund accumulates money to assist team sailors who experience unexpected financial difficulty and would otherwise be unable to continue competitive sailing at Cambridge.
Support Fund Administration
The Support Funds take a long term view and therefore have their own ‘Boat Reserve’ bank account, ring fenced from general CUCrC funds. The Club’s Trustees, the Commodore, the Senior Treasurer, the Senior Secretary, and a senior Windsurfing representative manage the Boat and Board Funds. Alumni supporter donations go directly into the Boat Reserve bank account, and they designate the use of each gift on our online form or printed Alumni Gift Form. These forms also act as Alumni Supporter registration forms.
Boat and Board Funds
Currently the Club replaces each of its two flights of Fireflies every six years. The difference between the price of a new flight and the proceeds of selling the old flight is around £30,000. As a result, we need to generate Boat Fund income of at least £10,000 a year. Furthermore, the Boat Fund also pays for major refurbishments such as professional repair of damage or a new rudder. A different approach has been adopted for windsurfing. Items are refurbished and replaced annually.
Entry Fees Fund
Participating team sailors and windsurfers pay the entry fees BUSA and SWA championships, and other weekend events during the year. In addition, they also pay travel, subsistence, and overnight expenses. Entry fees alone, including the costs of hiring boats and facilities for the Varsity Match, amount to over £10,000 a year. The purpose of the Entry Fee Fund is to help defray the entry fee costs that sailors and windsurfers incur. The Fund is managed by the General Committee.
Because of its nature, the Hardship Fund is a somewhat private fund, managed by the Senior Treasurer and two Senior Committee Members who live in or near Cambridge. Applications are made in confidence to the Senior Treasurer.
An historic summary of support fund accounts is shown below, followed by the accounts for the current year. Email the Alumni Administrator if you would like more detail about any support fund.
CUCrC SUPPORT FUNDS HISTORICAL SUMMARY
|Year||Start Balance||Income||Expenditure||End Balance||Notes|
|2010/11||6,919||9,051||124||15,846||Expenditure was for a ‘Just Giving’ website page, subsequently discontinued.|
|2013/14||38,160||15,607||42,303||11,464||Purchase of 6 new Fireflies and 6 new covers for old Fireflies.|
|2015/16||28,497||26,876||45,530||9,843||Purchase of 6 new Fireflies and 7 replacement sails.|
|2017/18||27,590||44,228||57,613||14,265||Sale of 2013 flight and purchase of a new flight, plus a new road trailer and start of student assistance.|
Contributions to Support Funds by Alumni Decade
(Lump sum gifts amortised over 10 years)
|1940’s & 50’s||15%|
|2000’s & 10’s||8%|
SUPPORT FUNDS INCOME & EXPENDITURE FOR 2017/18
|Life Member gifts including Gift Aid and bank interest||10,738|
|Boat hire receipts, event profits, and sale of 2013 flight||25,990|
|Entry Assistance Fund: £1,800 b/f from 2016/17 plus £4,420 Club funds allocated||6,220|
|Hardship Assistance Fund: Gift of £500 plus £780 Club funds allocated||1,280|
|Dinghy purchase, including a new road trailer||49,968|
|Entry fee assistance||5,000|
SUPPORT FUNDS BALANCE SHEET AS AT 31 JULY 2018
|Current Assets (£)|
|Boat Reserve Account||9,139|
|Income and gifts in other Club accounts (including GAYE outstanding)||3,314|
|Gift Aid yet to be received||1,812|
|Current Liabilities (£)|
|Owed to Club’s main Working account||–|
|Assets Less Liabilities||£14,265|
This change in Balance Sheet represents a decrease of £13,325 over last year