The Radley Foundation
Foundation Progress Report
Foundation Progress Report from Anthony Robinson, February 2013
£1.243m raised or pledged in 2012 - surge in support for Bursaries - five Service families enquire about AFF Bursary Awards - Phase One of the Rowing Centre draws closer
2012 has been full of surprises. We have been delighted by the wonderful generosity of ORs, parents and former parents whose support for the Foundation has reached new heights. And before Christmas I spent ten extraordinary days in Hong Kong and Singapore, those two great hubs of bustling commerce and financial flair, and home to more than eighty members of the extended Radley family. I didn't know what to expect but, again, I was thrilled by the warm reception I received and the eagerness of so many to support the Foundation. The buzz and excitement were captivating and many of the planned gifts are nothing short of sensational. All of us in the Foundation have high hopes for the future.
First mention must go to last summer's leaving parents, who having funded their sons for five years at Radley, made a magnificnt combined farwell gift to the Foundation of £76,000 to provide a 50% bursary for a Foundation boy starting at Radley in September 2013. This was a first of its kind and a ground-breaking development.
Further good news arrived when the family charitable trust of another 2012 leaver gifted a whole Foundation Award, £180,000, to finance a talented boy through two years of prep school and five years at Radley. We were uplifted by this superb gift from the Borrows Charitable Trust, which emphasises the importance to us of Family Charitable Trusts, and we are immensely grateful to them. Similarly, we are indebted to The Garfield Weston Foundation for their most generous donation.
A few weeks later we were overjoyed when an Old Radleian in his 40s finalised arrangements for a bequest of 10% of his estate, anticipated to be £800,000, to create a means-tested bursary "in perpetuity" in his family name for boys with an interest in music and the arts. Legacies will be vital in building up an endowment to sustain our current bursary programme and we are indebted to the donor for setting such a fine example.
All these magnificent gifts, when combined with the many other donations we receive and the income from our Capital Funds, will be instrumental in further developing our means-tested Silk Awards and Foundation Awards. Our ultimate ambition, set by Council, is to increase the number of boys we support from the present 27 to 69 - 10% of all Radleians.
Five Service families, involving twelve children, have enquired about AFF bursaries and one of these (with two boys and one girl) has already become a firm application. Four of these five children are from the ranks. It is early days but we have the funds available to offer three of four AFF bursaries - one from the income of the main fund, another from a whole-education gift of £180,000 pledged after The Silver Ball and several others from anonymous sources. The first two Awards will be named, of course, after Rupert Thorneloe and Dougie Dalzell, the two ORs killed in Afghanistan, whom we remember fondly every day but especially on Remembrance Sunday in Chapel.
Good progress has also been made with the Rowing Centre: we are more confident about obtaining planning permission and John Gearing, Director of Rowing, has chosen a Russian design of rowing tank that closely simulates rowing on a river. If everything goes according to plan, there is real possibility that the tank, Phase One of the Rowing Centre, will be built on the main campus near the Shooting Range and CCF during the autumn of 2013. Phase Two, a connecting building to house ergos, circuits, club room, honours boards etc, will follow later.
Much remains to be done. The financial climate continues to be difficult but, in spite of this, 301 gifts and pledges with a total value of £1,243,314 were received by the Foundation during 2012 - a fine testament to the high regard in which the College is held. Every gift, large or small, is much valued and, on behalf of the Foundation, I would like to thank again each and every one of our supporters.
The Foundation has now raised £11.3 million since it was founded in 2000. We will need to build this up to at least £50m to provide the College with the endowment it lacks and the funding it needs for scholarships and bursaries. I have every confidence that, with a home team combining the wisdom, skill and irrepressible enthusiasm of Hamish Aird, Jock Mullard, Emma Lyon and Jan Glover, we will make swift and signifianct progress towards this target.
OR and Former Parent