Support Funds

FMake 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 dinghies and gear can be refurbished and replaced regularly.
  • Board Fund: The Board Fund assists the annual refurbishment and replacement of the Club’s windsurfing boards, rigs, and gear.
  • 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 bank accounts, 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 Support Funds bank account, and each alumnus designates the use of their gift when completing 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. Team racing 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.

Hardship Fund

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

YearStart BalanceIncomeExpenditureEnd BalanceNotes
2010/116,9199,05112415,846Expenditure was for a ‘Just Giving’ website page, subsequently discontinued.
2011/1215,8467,10222,948
2012/1322,94815,23738,223
2013/1438,22315,74442,30311,664Purchase of 6 new Fireflies and 6 new covers for old Fireflies.
2014/1511,66417,43829,102
2015/1629,10227,20946,4689,843Purchase of 6 new Fireflies and 7 replacement sails, plus some windsurfing expenditure.
2016/179,84318,25250527,590Windsurfing items.
2017/1827,59043,12857,45613,262Sale of 2013 flight and purchase of a new flight, plus a new road trailer, plus the initiation of event entry assistance for student sailors.
2018/1913,26214,1824,54422,900Entry fee assistance, dinghy refurbishment, hardship assistance.
2019/2022,900

Contributions to Support Funds by Alumni Decade

(Lump sum gifts amortised over 10 years)

DecadeContribution
1940’s & 50’s15%
1960’s29%
1970’s23%
1980’s10%
1990’s15%
2000’s & 10’s 8%
SUPPORT FUNDS INCOME & EXPENDITURE FOR 2018/19
INCOME
Alumni Supporter gifts for dinghies including Gift Aid (D)9,264
Bank interest (D)7
Boat hire receipts (D)900
Legacies and Other Income (D):
Total Income for Dinghies£10,071
Alumni Supporter gifts for boards including Gift Aid (W)119
Legacies and Other Income (W)
Total Income for Boards£119
Alumni Supporter gifts for event entry assistance including Gift Aid (E)50
Legacies and Other Income (E): Allocated Club surplus cash flow2,805
Total Income for Event Entry Assistance£2,855
Alumni Supporter gifts for hardship assistance including Gift Aid (H)642
Legacies and Other Income (H): Allocated Club surplus cash flow495
Total Income for Hardship Assistance£1,137
EXPENDITURE
Dinghy refurbishment (using unrestricted funds)725
Total Expenditure for Dinghies£725
Board Replacement and Maintenance (income distributed on an annual basis)£119
Entry Entry Assistance£3,000
Hardship Assistance£700
SUPPORT FUNDS BALANCE SHEET AS AT 31 JULY 2019
CURRENT ASSETS
Support and Hardship accounts20,798
Income and gifts in other Club accounts265
Alumni Supporter GAYE payments outstanding100
Gift Aid yet to be received1,737
Total Assets£22,900
CURRENT LIABILITIES
Owed to main Treasurers account
Total Liabilities£-
Assets Less Liabilities£22,900
This change in Balance Sheet represents an increase of £9,638 over last year (£13,262)
Team racing training for Cambridge sailing support funds
Cambridge train in their tip-top Firefly flights – made possible by alumni generosity