What is the Legacy Fund?

Our RGC community is built of Members who are loyal and dedicated to each other, and earnestly desire that the Club thrives far into future decades. Through the goodwill expressed by many Members, there is a collective wish to continue to drive our Club to new heights, as we create additional ways to proactively enhance RGC fiscal resiliency.

The Legacy Fund is a new fund development initiative establishing a dedicated capital reserve vehicle that will be generated through RGC Member philanthropy. Member financial gifts accepted through the Legacy Fund will be designated to the Redevelopment Project cost recovery, and building toward creating a future capital endowment structure. These proceeds will not be utilized for ongoing RGC operation costs.

When you choose to participate with gifting to the Legacy Fund, contributors will have the opportunity to have a meaningful and visible way for their “love of the Club” be honored.  Varying levels of gifting will gain you differing options to document your personal RGC legacy.

For major gifts, naming opportunities of select facility spaces will recognize Contributor generosity and visionary support. For those who choose alternate gifting levels, a featured Legacy Fund Contributor display in the RGC’s central foyer will showcase Member inscriptions, and smaller gifts will be gratefully acknowledged within the dedicated Legacy Fund website page and digital presentations.

All recognitions will reveal life stories of our rich and supportive RGC community, composed of many people and families over the years.

Where We Are

While the RGC continues to implement and invest in the long-term vision of the Redevelopment Project, creating additional options to proactively recover the RGC’s Redevelopment Project costs, and enhance overall fiscal resiliency is the aspiration of the current Board of Directors and Management.

We have more to our journey to ensure that the Redevelopment Project costs are serviceable, with mindfulness toward future enhancements and facility need.

Recent Board and Finance midyear reporting of year-end (May 31, 2024) demonstrates significant achieved success exceeding projections that our new Redevelopment ignited, with confidence of similar revenue and surplus gains in the upcoming fiscal year. Food & Beverage with Event rentals and catering, overall member utilization and Recreation registrations, Member recruitment & retention, have all garnered marked increases trending positively.

The Redevelopment Project profile:

• Funded through the combination of bank loan, and RGC Member Loan program.

• The bank loan amount is $37.2M over 20 yr. term (favourable 3.67% fixed rate for the first 10-yr period).

• The Member Loan plan amount is $4.27M (maturity date June 2026) with an average interest rate of 7.09%. There is priority to retire this loan debt before maturity, to avoid additional loan debt.

• RGC surplus revenue cash flow allowed in June 2024 for 24% (nearly $1M) advance repayment of Member Loan schedule.

• The overall target Redevelopment loan debt for 2026 is $33.2M after fully paying the Member Loan, providing a sustainable level.

• A key objective is to build reserve funds for infrastructure, beyond annual capital levy and to mitigate cash calls.

The Board of Directors endorsed the formation of a committee to explore possible fund development within the RGC membership—ongoing strategic efforts to grow resources through building relationships with those who care most about the RGC. To read the Legacy Fund Development Committee’s Terms of Reference, please click here.

Together with Board and Member representatives, the Legacy Fund Development Committee was established to direct planning for creation, process, and stewardship of the new Legacy Fund.

The impact of your Legacy Fund gift

Sharing your legacy through your gift recognition gives meaning and Club identity to us all, and we wish to honor your valued support. Your vision and generosity will catalyze the RGC toward a new stage of growth and financial resiliency, while enhancing strength to an organization that is all about relationships and the people in them.

Your giving becomes leading, as your action inspires others to follow your example to be active partners in ensuring our “love of the Club” continues for generations, for many. Your gift provides long-term organization health and confidence in our Club, that in turn vitalizes our larger community.