Back into the Black TICA Meetings - Summary
Monday, March 28, 2022 at 8:38AM Summary of Recent TICA Members Meetings
In 2021, twelve Thetis Islanders loaned TICA $335,000 to complete the expansion of Forbes Hall. TICA held two membership meetings in February to explore ways to generate enough money to pay off a good portion of the debt when it matures in early 2024 -- thus reducing the amount of a mortgage and ensuing interest rates needed to repay the total debt. At these meetings there was strong support for a Pledge Program, which many organizations have successfully used to provide a predictable and reliable income stream for debt repayment.
In a Pledge Program donors commit to a set monthly or annual donation for a fixed period of time. This donation can be as large or small as is affordable to the donor be it $20 a month, $100 a month or another amount. Ultimately, with a high level of participation and collective responsibility, the debt could be drastically reduced, or possibly paid in full, by the time the loans mature.
TICA is now developing a Community Pledge Program and more details about the program and how to get involved will follow shortly. A launch event is being planned for late April 2022 at the Hall to officially kick-start the program.
Note: a more detailed summary was emailed to all members, if you for any reason did not receive yours, please contact Teresa Moore (TICA Secretary) at teresamoore386@gmail.com
