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today tomorrow Special Pre-Holiday Issue
Fall 1984
CAPITAL CAMPAIGN MOVES TOWARD $5,000,000 by John L. Tower Cardigan Trustee
Five years ago this October a nervous Board of Cardigan Trustees authorized the official kickoff of our ambitious $5,000,000 capital funds campaign . The end of the campaign next June is now in sight and with more than $4,000,000 received in gifts and pledges, so is our goal. Five years ago we had two major objectives - to build a new Learning Center which would become the focal point of the academic, cultural and social life of our campus, and to raise our endowment from $650,000 to a total of $3,000,000 by the end of the campaign. We said then that our goals were high, as they should be-but attainable. As we move into the last months of the campaign a brief look at where we stand seems appropriate . First, the Stoddard Center. It's hard to imagine how the School functioned before we had this View of the campus and Mt. Cardigan. magnificent building. In every way it has become the focal point of our campus life that our TrusJees envisioned five years ago. We have received gifts totaling just over $2,000,000 towards its construction and there are additional pledges outstanding. So one of the two major objectives of our ambitious program is a firm, productive accomplishment and a major contribution to the Cardigan experience . · To meet our other objective is a more difficult task. The good news is that the total of all our endowment funds plus pledges of future gifts to endowment now totals $1,915,430. This is a magnificent achievement, but the bad news is we are still far short of the essential goal of $3,000,000 established by the Board . A breakdown of this total might be of interest and will indicate where added support is needed to meet our original goals. Various Scholarship Funds established over the years and during our drive now total $572,311. Restricted Funds, including endowments for the Gymnasium and Learning Center and a Library Fund, total $235,259. Unrestricted Funds providing income to be used at the discretion of the Trustees, now total $485,129 plus an additional $104,903 in the form of Life Income Trusts, which will eventually be added to the Unrestricted Endowment. And finally, there is an additional $517,828 in pledges to various segments of our Endowment. Once again the challenge and the opportunity are clear. Scholarship Funds have always been popular and nothing has enhanced our School more or been more rewarding than our ability to provide assistance to worthy, often outstanding, youngsters who otherwise would not have been able to come to Cardigan. We have 16 different funds ranging in size from $154,000 to $1,384. Gifts to such funds provide perhaps the most enduring and rewarding way of supporting Cardigan. Restricted Endowments to provide support for a particular building or activity offer a way of expressing a special interest in a particular aspect of Cardigan's overall program. And finally, Unrestricted Endowments provide the greatest flexibility to the Trustees to move quickly to meet perceived needs as they may arise. · The months ahead will be critically important to our final success in meeting our 5-year goal. We will have further reports to make to the Cardigan Family as we move toward this goal.
CARDIGAN MOUNTAIN SCHOOL I CANAAN, NEW HAMPSIIlRE 03741 / (603) 523-4321