Greenwich Skating Club

P.O. Box 569

Greenwich, CT  06836-0569

Capital Campaign Update

September 15, 2016

The Clubhouse construction is well underway!  Jim Knight and the Building Committee have a goal of “on-time and on budget” and it is within reach. 

To our wonderfully generous members, we are writing to thank you for your participation in making the new Clubhouse a reality.  We anticipate the Clubhouse will be open and in use by early November and members will get a chance to appreciate how far we have come.  As the project becomes reality, we are conducting a “last call” for those that have not yet participated or would like to increase their participation level. 

There are 233 members, faculty, alumni and friends that have donated so far.  There are still finishing details and “punch list items” that will carry into November including the memorialization of those who have contributed to the campaign on a tasteful plaque.  We will close out the campaign at the end of January and formally present the plaque at the closing party at the end of this season. 

As Don Raftery summarized in a letter to members earlier this month, the new benefits members will enjoy include:  significantly expanded outdoor railing space to watch games, a new outdoor fireplace (as well as our traditional indoor ones on the 1st and 2nd floor), all locker rooms are on the first floor to increase safety,  a “film room” that can be used to review figure skating and game films, a pro shop to purchase all your GSC spirit-wear, heated outdoor walkways to eliminate dangerous slippery conditions and an office overlooking the ice on the first floor to keep an eye on safety. 

The total cost for the new Clubhouse will be $3.75 million, meaningfully below the $4.25 million originally communicated to the membership.  To pay for the new building, we had an initial fundraising goal of $1.1+ million, added an assessment, used a capital fund created over the past several years in anticipation of the project and secured bank financing to cover the remainder of our construction costs.  We do not anticipate needing to raise program fees beyond current fees to cover the Clubhouse and service the debt.  We are hoping to exceed our fundraising goal to allow us to minimize our debt burden and add additional “wish list” features to the new Clubhouse.

Please visit the website for more updated project information and instructions for giving or reach out to Barbara Williams, bwilliams@gcds.net or members of the Board or Capital Campaign Committee for further instructions.

Please note that the GSC is a 501(c)7 tax-exempt organization.  As a result, we do NOT believe that your gift would qualify for a tax deduction under income tax laws. Obviously, you should confirm this with your tax advisor.

If you should have any questions related to the capital campaign, the construction project or any other GSC matters, please feel free to reach out to anyone on the Board or the Capital Campaign Committee.

Sincerely,

GREENWICH SKATING CLUB BOARD OF GOVERNORS

GSC Capital Campaign Supporters through August 2016

(Member Pledges Received)