You have an opportunity to invest in the curling club’s future. Our Current facility was built in 1997 using generous contributions from club members, local businesses, and a $585,000 loan from the McFarland State Bank (converted to a State Trust Fund Loan in 2006). Our state-of-the art facility has hosted national events and major bonspiels that enhance the visibility of the club and the sport of curling.
Proceeds from national events and club fundraisers have been used to pay down the principal on the loan. The current loan balance is $268,600. A balloon payment of close to $200,000 will be due March 1, 2016. Rough math indicates that using the annual golf, steak, and corned beef proceeds will reduce the balloon payment by $24,000 as we approach March 2016. We also have $35,000 in escrow that will be released upon satisfaction of the loan. The balloon payment would be down to $141,000, or approximately $280 per member
It’s time to take out the loan! Your financial contribution can help eliminate the debt to …
- Annually free up $31,000 from the club’s budget
- Provide a source of revenue for necessary repairs, maintenance and replacement
- Assure curling for generations to come
- Claim a stake in the club through your financial involvement
- Provide future boards with financial flexibility
- Make the club a debt free organization
We are asking each member to add something to their dues payment that will be earmarked for principal reduction. All payments in excess of your dues and locker fees are generally tax deductible (even though your check is payable to the club). You will receive confirmation from the foundation for your contribution. If you desire to send a separate check, please do so by sending it to the Madison Curling Foundation at PO Box 1091, Madison, WI 53701. Designate TOTL in the memo line.
Contributors will be recognized in the Hogline beginning in 2011 and each fall thereafter until the fa1l of 2015. Categories of recognition will be cumulative over the five years and updated each year to reflect additional contributions. The levels of recognition are:
$1,500 and greater
$1,000 to $1,499
$500 to $999
$250 to $499
Now is the time to plan ahead and help us
Take Out The Loan and continue delivering the future of curling.