LADY MARGARET BOAT CLUB. Embracing participation and excellence in rowing

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1 LADY MARGARET BOAT CLUB Embracing participation and excellence in rowing

2 Joining the LMBC was a defining moment in my academic and sporting career at Cambridge. It has given me an anchor in Cambridge, and forged lifelong friendships, it has taught me time management, the importance of perseverance, commitment, endurance and team work, it improved my health and has taken me all over the world, giving me a link that connects me to you and all of us across generations of Maggie rowers. Annamarie Phelps, 1984

3 Financial management The existing LMBC and LMBCA funds are prudently managed and spending is overseen by College and LMBCA representatives. The new endowment would be managed in a similar way: The funds are invested in the College s Consolidated Trust Fund (a unitised, multi-asset portfolio) with expenditure managed by a committee comprising College and LMBCA representatives. There are only two sources of income: subscriptions and investment income. Income will be used to support the Club, and where possible, over the longer term will be reinvested ensuring that the fund continues to grow in real terms. A partnership between St John s College and the LMBCA The LMBCA and St John s College Development Office are working together to ensure the LMBC and LMBCA are well supported and can also make good use of the College s professional expertise and infrastructure whilst ensuring that the LMBCA remains at the centre of fundraising efforts and decision-making. Other ways to support the LMBC Leave a gift in your will Whether or not you are in a position to make a gift in your lifetime, please consider including the LMBC in your will. St John s has established the Beaufort Society to recognise the contribution of all those donating to St John s in their will. All those making a gift to the LMBC in this way will be invited to join, provided that there is a record of your intentions. If you are considering making a gift in this way, or have already pledged to do so, please contact the Development Office for further details.

4 Equipment Almost every piece of equipment in the boathouse has been purchased by the LMBCA over the past 25 years. This momentum will need to be maintained in order to provide modern and efficient equipment for crews. With IVs costing up to 15,000 and VIIIs up to 25,000, this is a substantial commitment. Boat replacement scheme The LMBCA plans an equipment replacement budget that looks ahead between five and ten years. The boat replacement scheme ensures that LMBC crews are able to maintain their competitive advantage, while providing boats for all of the squads to enjoy. The Club has been extremely fortunate in that generous individuals have purchased two new boats for the LMBC in the past five years, lifting the burden on the LMBCA s cash flow. A gift to this scheme could help to finance much-needed new boats. A boat-buying strategy would create stability and promote consistency in an ever-evolving, very much alive and equipment-dependent Boat Club. Lance Badman, Boat Club Manager Blades: 2,000 per set There has to be an ongoing replacement cycle for blades, just as with boats. Land-training equipment: 1,000 per ergo As with boats and blades, worn land-training equipment must be replaced on a new-for-old basis. A donation to this area will help with vital preparation and training in the build-up to racing. Embracing participation and excellence in rowing

5 The LMBC LADY MARGARET BOAT CLUB Founded in 1825, the Lady Margaret Boat Club (LMBC) is an integral part of College life, and introduces around two-thirds of freshers to their first rowing experience. The Club has enjoyed a string of successes and has filled no less than 35 seats in Great Britain international crews since Throughout the year, dedicated crews take to the Cam to train for many competitions including the Lent and May Bumps racing events that occupy a special place in the Cambridge sporting calendar. Every year around twothirds of freshers try their hand at rowing; there are ten novice teams of eight (plus a cox) each year. The scale of involvement in rowing at St John s helps to ensure that rising stars can be identified from a large pool of enthusiastic members. In some cases these individuals go on to achieve international success. For the majority, however, most important are the lifelong friendships that are forged and the discipline and teamwork that go on to serve so well in later life. At school I'd been seen, and had seen myself, as brainy not sporty, so it was fantastic to have the chance to learn a new sport and to discover I wasn't hopeless at sport after all. The teamwork and friendships were really special, perhaps in part because the LMBC is both ambitious and inclusive, with top people coaching novices, and a belief that Maggie crews are winners. What has stayed with me most is the thrill of success and the painful spur that failure provides, which you never get used to but have to live with. The parallels with work, and with the rest of life, are clear. Fiona McAnena, 1982 Embracing participation and excellence in rowing

6 The LMBCA (Lady Margaret Boat Club Association) The Old Johnian Henley Fund (OJHF) was founded in 1913 to help LMBC crews train and race at Henley. It has since been renamed the Lady Margaret Boat Club Association and has successfully secured critical funding for the purchase of boats, blades and indoor training equipment. The LMBCA s activities have expanded to take in many other aspects of rowing support such as subsidising triallists, paying coaches and financing training camps. This consistent source of support has been an economic lifeline for the Club and has saved it from serious financial hardship. The financial support I received from the LMBCA was well received as, unlike rowing for the heavyweights, being a lightweight is not subsidised by sponsorship. The money went some way to covering the cost of the train to Ely on those cold Lent mornings! Toby Parnell, 2006 (started rowing for the LMBC as a novice in the Michaelmas term, 2006)

7 The challenges ahead The College is currently able to supplement LMBCA funds to the tune of around 40,000 per year. This meets the current costs of employing a Boat Club manager, helps to maintain the boathouse and covers a contribution towards the running costs. However, the higher education funding landscape is changing. This places additional constraints on student finances and the LMBC must have the flexibility to meet these evolving demands. If the Club is unable to confront this very real challenge, it risks losing future members to better-resourced institutions, leaving the LMBC in a precarious position. Endowment: target 5 million One of the best ways to support the LMBC is by making a gift to the endowment, which will provide a sustainable income for the Club to help cover the costs of training, racing and coaching. A gift to the endowment, large or small, will make a huge difference to the LMBC and to attracting other potential supporters to do the same. Thanks to the generosity of existing donors, the original LMBCA fund stands at 400,000. This is a good foundation, but sights must be set higher and our long term aim is to raise 5 million. Some example projects: Coaching: 5,000 per annum Many LMBC coaches volunteer their time to the Boat Club, demonstrating their commitment to the talented athletes who benefit from their expertise. Retaining a volunteer network of coaches remains a top priority but it is inevitable that coaching costs will have to be covered in the future. The recent appointment of Roger Silk to the position of Director of Rowing underlines the LMBC s commitment to this important area. Your gift will help to ensure that coaches of the highest calibre continue to be attracted. In the past, the LMBCA has rarely had more than 200 regular donors at any given time. It is through their generosity that the Club s finances have been put on a sound footing, and yet with an increasing membership, which currently stands at 3,300, the funding base could be substantially broadened. Donations of all types are encouraged. It is hoped that recent graduates will make small, regular contributions from the start of their working lives and encourage others to make larger donations as their careers develop. Donations are sought for the following priority areas: Training camps: up to 10,000 per annum Well-organised training camps have a hugely beneficial impact on the development of the squads and allow the crews to focus on their rowing prior to the start of the Lent and Easter terms. While participants are required to make their own contribution towards the costs of the camps (to partially cover travel, food, accommodation and coaching expenses), the LMBCA subsidises this to ensure that rowers with the most potential are able to take part, regardless of their financial circumstances. Embracing participation and excellence in rowing

8 LMBC: Donation Form Your Details Please write in BLOCK CAPITALS Name Address Telephone Matriculation Year Postcode Directing Your Gift LMBC Endowment Fund (a general support fund) A gift to the endowment provides fantastic support for the full range of rowing activities. If you would like your gift to be more specifically directed towards a boat, a set of oars or other equipment, please indicate your preference here: Gift Aid Declaration UK Taxpayers Only I would like St John s College to treat this donation (and any other donations I may make from the date of this declaration until I notify you otherwise*) as a Gift Aid donation. I am a UK taxpayer. Signed Date * You may declare that all future gifts you may make will be made as Gift Aid donations. This will maximise the value of your gift. You may delete this line if you wish. If you are a UK taxpayer, the value of your gift can be increased by 25% under the Gift Aid scheme at no extra cost to you. In order for us to reclaim the tax you pay on your donation(s) you must have paid UK income or Capital Gains Tax equal to the tax that will be reclaimed (currently 25p for each 1 you give). This declaration includes all previous donations in the last four years and all future donations until you instruct otherwise. Giving Options Overleaf

9 Cheques / Cash / Postal Order / CAF Voucher I enclose my donation of LMBC: Giving Options Please make cheques payable to St John s College, Cambridge Credit Card Please charge my Visa MasterCard Maestro Card number Issue number Maestro only Start date End date Security number Regular Gift by Direct Debit This is the 3-digit number printed on the back of your card, separate from the 16-digit card number Amount I would like to make a regular gift* of Monthly Quarterly Annually * as directed overleaf INSTRUCTION TO YOUR BANK OR BUILDING SOCIETY TO PAY BY DIRECT DEBIT To The Manager of my Bank / Building Society Name of Account(s) Holder(s) Bank/Building Society Address Branch Sort Code - - Bank/Building Society Account Number Banks and Building Societies may not accept Direct Debit Instructions for some types of account. Service User Number: Instruction to your Bank or Building Society: Please pay St John s College, Cambridge Direct Debits, from the account detailed in this instruction, subject to the safeguards assured by the Direct Debit Guarantee. I understand that this instruction may remain with St John s College and, if so, details will be passed electronically to my Bank / Building Society. Signature(s) Date PLEASE DO NOT SEND THIS FORM DIRECTLY TO YOUR BANK. The Direct Debit Guarantee This Guarantee is offered by all banks and building societies that accept instructions to pay Direct Debits. If there are any changes to the amount, date or frequency of your Direct Debit St John s College will notify you ten working days in advance of your account being debited or as otherwise agreed. If you request St John s College to collect a payment, confirmation of the amount and date will be given to you at the time of the request. If an error is made in the payment of your Direct Debit, by St John s College or your bank or building society you are entitled to a full and immediate refund of the amount paid from your bank or building society. If you receive a refund you are not entitled to, you must pay it back when St John s College asks you to. You can cancel a Direct Debit at any time by simply contacting your bank or building society. Written confirmation may be required. Please also notify us. Postcode Further Gift Options I would like my gift to be recognised on the College s annual donor list I would prefer my gift to be treated anonymously I have already included a legacy to the LMBC in my will I would like to receive more information about leaving a legacy to the LMBC in my will All donations to the LMBC will be incorporated into our donor recognition programme including the Annual Donor Lunch, the Campaign Benefactors * Dinner and Beaufort Society* (*where applicable), and inclusion on the annual donor list, (where it is desired by the donor). When completed please return this form to: Development Office, St John s College, Cambridge CB2 1TP Tel: +44 (0) Fax: +44 (0) development@joh.cam.ac.uk Charity name: St John s College, Cambridge. Registered charity number

10 LADY MARGARET BOAT CLUB To receive regular LMBC news updates please visit: Connect with the LMBC on our Facebook page, Lady Margaret Boat Club I had a lot of fun, made some good friends and even learned a thing or two through rowing for the LMBC. It is a pleasure to make a donation to say thank you, to stay in touch and most importantly to help fund the Club for its current and future members. Claire Griffiths, 1985 Development Office St John s College, Cambridge CB2 1TP Tel: Fax: development@joh.cam.ac.uk