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Capital Campaign in the Works
In 2004, Star Island embarked on a five-year facilities campaign to catch up on deferred maintenance and address equipment and building needs that would save money in the future and make the island safer and more enjoyable for all. The "Sustaining Stewards" recruited in this campaign significantly increased their annual giving to a level of $5,000, $10,000, $20,000 or more and made a promise to sustain that level of giving for five years.
Now in 2008 we are entering a new stage—preparation for a capital campaign. To ensure that we move forward with essential capital projects during this preparatory phase, we began a Star Island Loan Program (see Special Opportunities, below) that has already brought in $385,000. Like the Sustaining Steward Program which will be folded into the capital campaign, our hope is that our lenders will convert their loans to gifts in the forthcoming capital campaign. Stay tuned!
Loan Program
Beginning in early 2008, a number of Shoalers were asked to make loans to the Star Island Corporation in the amount of $10,000 or more. Promissory notes are issued and the loans will be paid back after five years although we have the hope that each will be forgiven and converted into gifts to the capital campaign. Loans received range from $5,000 (with another $5,000 promised next year if possible) to well over $100,000. Our total to date is $385,000 which means that we will not have to defer maintenance, safety or essential capital projects this year. Our goal is to raise $750,000 in loans by the end of 2010.
Please feel free to email our Acting Development Director Irene Bush at or call (603) 430-6272 if you would like to discuss Star Island capital needs.