The Fund is set up with a restricted account that will be operated by the Club's two Trustees, Commodore and Vice Commodore, Hon Treasurer and a past Commodore.
The use of the Fund is restricted to major capital projects that enhance the Club's property and/or facilities for the benefit of members. Examples can include the acquisition of additional premises and the provision of a new roof for the property. It would not for example include repair of existing fabric of the Club.
The Club cannot give legal advice on how to direct a gift to the Fund and members should consult an independent professional adviser, if necessary. If you choose to leave a cash gift your professional adviser may find the following words helpful:
"I give free of all taxes to Sea View Yacht Club Limited the sum of £[ ] with a request that it forms part of the Legacy Fund of Sea View Yacht Club Limited. I confirm that the receipt of the Hon Treasurer of the said Sea View Yacht Club Limited shall be a good discharge to my Executors."
The Fund is aimed at those members who value Seaview and what SVYC has offered their families over generations, and indeed continues to offer today; it is for those who see the Club as ‘special’ in our lives and would be keen to contribute in preserving it for future generations; and it is aimed at accessing the embedded wealth of a generation who, while not in a position to necessarily donate further now, would be happy for their estate to contribute in due course.
In the coming years, members will be reminded of its existence when the Club issues subscription advices.
Last updated 13:58 on 26 February 2021