EPCF Status report 2009

To supporters of the Eagle Promise Charitable Fund (EPCF) and Eagle Promise Golf Outing (EPGO):

The EPCF Board of Directors, after much deliberation, has made the decision to redirect all fund raising efforts for both current and future special projects it will be supporting.

Prior to and after establishing the EPCF in August, 2006 the focus had been on the construction of a Track and Soccer complex. All who have been involved with the T&S project from the beginning agree that this was a most important and worthy project for the community.

It has become evident, over the past seven months, that the EPCF does not have the financial commitment within the local community to build even a scaled back version of the T&S complex. It is with great disappointment that the EPCF, its Board of Directors, and other volunteers associated with the project have to announce that it will no longer be supporting the T&S project. The EPCF regrets that the T&S complex will not come to fruition in the near future. Hopefully, at a later date, the Berkeley County Board of Education (BCBOE) will find the funds to build the T&S complex at Hedgesville High School as a community asset. The EPCF will provide all of the reports, drawings, and any other materials it has accumulated and paid for over the years to HHS Principal Don Dellinger. With this information the BCBOE will not have to duplicate the effort for a T&S complex if they go forward with the building a T&S complex.

During the past year, (2008), EPCF worked closely with our civil engineering firm christopher consultants, ltd. (ccl). They provided us with the following: geo-technical soil testing of the T&S site; a detailed geo-technical report; overview site drawings and concept drawings of proposed project; and budget information needed to develop overall budgets for a phased T&S complex. EPCF spent $25,000 of its funds this past year for all work completed by ccl. A scaled down and phased version of the T&S complex without amenities had been estimated to cost between $2.1 to 2.5 MM. The money needed to support the building of the T&S complex would have included the value of all gifts to the project including both gifts-in-kind and cash. The major portion of the gifts needed to build the T&S complex would have to come from area companies in the construction industries and other local cash gifts. As stated earlier, the commitment from the local community to build a T&S complex was never realized.

Moving Forward
The EPCF is moving forward to refocus and to reemphasize its efforts to support community based activities as stated in its Mission Statement. The EPCF will not undertake special projects that need a large accumulation of capital for the project and the leading of a Capital Campaign to support the project. Special projects supported by EPCF going forward will be meaningful to the community but will not be above a stated goal of $30,000 for the project.

An EPCF Endowed Scholarship Fund has been established and is currently invested. The EPCF will award annually from this fund scholarships in $500 increments from funds generated from the Endowed Scholarship Fund. As the EPCF Endowed Scholarship Fund continues to grow more scholarships will be awarded annually from the funds generated from the endowment. In the spring of 2010 the EPCF will be able to support two $500 scholarships to students at HHS. Please refer to our Web-site link under Our Activities scholarships for more information on the EPCF Endowed Scholarship Fund.

The EPCF is in the process in securing and paying for needed Track and Field equipment for this spring (2009) for the HHS Boy’s and Girl’s Track Teams.  This equipment will be purchased by Mid-March 2009.

Distribution of Funds from EPCF/EPGO going forward
The EPCF will support annually, with net funds generated at the end of each fiscal year, the following areas: (1). 30% of the funds will be allocated and added to the existing principle of the EPCF Endowed Scholarship Fund; and (2). 70% of funds will be allocated to support special projects and coaching camp days for youth in Berkeley County.

Other Projects and Initiatives Receiving Support in the Community by EPCF
The EPCF will continue to support HHS with the West Virginia Firewise in the Classroom project as it has in the past. For more detail on the WV Firewise in the Classroom project go to www.eaglepromise.org. The EPCF will also continue to donate computer equipment, as it becomes available, from the company for whom Joe Comer works. Joe is EPCF’s treasurer.