A committee has been formed, led by Lauren Life, Kathleen Pittman and Lisa Doherty and joined by Peg Conley, Jenn Willson, Brian Grayboff, Paul & Chris Nicholson, Stephanie O’Leary, Amy Anderlonis, Sue Kline, Jacquie Kenny, Dianne Doherty, Kim Begley, Sam Edwards, Kaylee Plaut and Candy Weiner. The goal of the committee is to develop a fund to provide the board with greater financial flexibility for capital projects and future investment in our club.
We think we would all agree that the Field Club is excellent value, and we all want that to continue. Our current revenue structure covers the day-to-day operations of the club. We do not have reserves or funds set aside for major projects or future investment. A capital committee was established by the board several years ago to develop a list of the necessary and desired capital investments in the club. They have done an excellent job identifying and tracking our needs. To give you a sense of the needs, here are some of the items that need addressing or are investments to enhance our experience:
Tennis Courts approximate costs $150,000:
- Refurbish Courts 1-4 including improved drainage
- Completion of second floor of Ann Boisvert Tennis Pavilion
Pool Area approximate costs $1,250,000:
- Replacement/Renovation of 60-year-old pool
- Replace locker room roof
- Snuggery kitchen replacement
Paddle approximate costs $125,000:
- Replace under carriage of courts
- Replace paddle decking and stairs
- Gas lines work
Pickleball approximate costs $120,000:
- 2 Additional courts
- Lights
Grounds approximate costs $175,000:
- Well & Septic Inspection & Upgrade
- Driveway replacement
- Irrigation system
- Volleyball court refurbishment
- Tree line with Twin Hills
Some of these projects are more urgent than others with some being monitored for safety (e.g. paddle infrastructure) whereas some would be nice to have (e.g. pickleball lights). The critical issue is that funding these needs and investments have not been addressed. Traditionally, initiation fees were used for capital projects but were eliminated in the effort to attract members during the pandemic. The Century Fund is only a partial solution. It is intended to be a long-term source of funds for the club giving it the financial flexibility it needs. The board may opt to use other tools for the financial well-being of the club. For example, when a significant project is urgently needed (like replacing the pool), the Century Fund can be a source of down payments, allowing the board and membership to borrow funds to lessen an assessment and allow payment for the pool to be made over time. The cost is spread over time, and we reduce the risk of losing members due to a significant assessment.
In the aggregate, it looks like a daunting number but much like a mortgage, it can be spread over 20 -30 years making the annual expense much more manageable. Our club is more than 60 years old. It requires investment to thrive for the next 60 years. The Century Fund is intended to sustain the club to its century mark and beyond. This fund will serve as the source of down payments in these investments giving the board and membership flexibility in the timing and funding.
The beauty of the Field Club is its community. From toddlers to grandparents there is something for everyone. Perhaps you have met a new friend when playing doubles for Spain in the Davis cup or watching your 2-year-olds playing in the baby pool. Whether you are a pool devotee, a weekly nighttime tennis player or a new pickle or paddle player, we all have strong deep connections to this place. It was founded on a theme of service with members carrying the load. In the early days of building the pool there was a member watch formed where the pool was watched 24/7 for several days while being filled to make sure there were no issues. The beautification committee has worked for years to make sure the club looks fantastic. And hundreds of events have been run by volunteer members over the years.
The Century Fund committee is yet another example of our culture of service and giving. This group is looking for your feedback on the club and its needs via an online survey.
We will continue to provide information on our needs and progress in developing and raising capital for the fund, and most importantly, how the funds will be managed and invested. We will develop an infrastructure for the fund so it has a clear mandate and will be sustainable for the long term. We hope you will join us in supporting and giving to this effort. We also welcome any volunteers to join our efforts. Our goal is for 100% membership participation and all gifts, large and small are welcome.
Many of us are second-generation members. We would like our children’s children to have the same fun, friendships, and community that we had, not to mention learning swimming, racquet and life skills along the way. Let’s make sure the club not only survives into the future but thrives.
Pledge Form (Link to PDF for Pledge Form)
Learn more- Donor Information (Link to pdf)
With gratitude,
Lauren Life, Kathleen Pittman and Lisa Doherty
fccenturyfund@gmail.com