LADY MARGARET
BOAT CLUB
Embracing participation
and excellence in rowing
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.
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 willWhether 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
Embracing participation and excellence in rowing
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.
The LMBC
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 1957. 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.
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
LADY MARGARET
BOAT CLUB
Every year around
two-thirds of freshers try their
hand at rowing; there are
ten novice teams of eight
(plus a cox) each year.
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)
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.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:
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.
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.
LMBC:
Donation Form
Your Details
Name Address Postcode Email Telephone Matriculation Year Please write in BLOCK CAPITALSDirecting Your Gift
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:
LMBC Endowment Fund (a general support fund)
Gift Aid Declaration
UK Taxpayers OnlyI 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.
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Banks and Building Societies may not accept Direct Debit Instructions for some types of account. Service User Number: 431634
Instruction to your Bank or Building Society:
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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.
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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.
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).
Charity name: St John’s College, Cambridge. Registered charity number 1137428.
When completed please return this form to:
Development Office, St John’s College, Cambridge CB2 1TP Tel: +44 (0) 1223 338700 Fax: +44 (0) 1223 338727 development@joh.cam.ac.uk www.joh.cam.ac.uk
Development Office
St John’s College, Cambridge CB2 1TP Tel: 01223 338700 Fax: 01223 338727 Email: development@joh.cam.ac.uk
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LADY MARGARET
