American Contract Bridge League Unit 522 – Fresno, Inc.

A Non-profit Corporation Serving Fresno, Madera and Mariposa Counties

2415 East Clinton Avenue, Fresno, California 93703

 

May 2, 2008

 

Players at the Fresno Bridge Center

 

The Unit Board of Directors is actively seeking a new site that can be the “New” Fresno Bridge Center because the lease at the current site ends January 31, 2010.  It is believed that the current lease can be renewed if necessary – but the Board would like to relocate to a site further north to a safer-newer location that would attract new players.  The Board is considering whether to purchase or lease a building with adequate safe parking depending on the cost of the property available. 

 

The Unit has entered into an agreement with Colliers Tingey International, a respected Fresno commercial realtor to search the Greater Fresno – Clovis area for a site that could be purchased or leased by the Unit for the new Bridge Center. 

 

The Unit’s Building Fund currently has about $185,000 that can be used as a down payment to purchase property or to alter an existing building the Unit could lease.  Any available property would not have the rooms configured to meet the needs of the Bridge Center and would have to be modified.

 

Several players have indicated that they would like to donate or bequeath money to the Unit’s Building Fund so that we can all play bridge in a new Bridge Center. This letter is a survey of the Unit members that play at the Fresno Bridge Center to determine how many would contribute and to estimate the amount of money that may be contributed.  If you are considering contributing to the Unit’s Building Fund when the Unit identifies a suitable site please complete the form on the reverse side of this letter and place it in the blue box at the Bridge Center. 

 

The Unit is a nonprofit corporation; however contributions can not be deducted on State or Federal income tax returns according to the Unit’s legal advisors.  Your generosity will be greatly appreciated and your name and donation level will be permanently displayed on a brass plaque in the new Fresno Bridge Center.  One of the alternatives under consideration is to provide a brass plaque with the donor’s name and contribution level mounted permanently on a “Donor’s Wall.”   The donor levels currently under consideration are:    

                       

Club                $        100                                Diamond                      $     1,000                   

Heart               $     5,000                                Spade                          $   10,000       

                        No Trump       $   25,000                                Master                       $   50,000

                                                       Grand Master      $ 100,000

 

Donations will be placed into a separate insured account until a building is purchased or constructed.  These donations will be used for the purchase or construction of a Bridge Center and not to lease a building.  If a building is not purchased, the contribution will be returned to the donor.  

 

Sincerely,

 

 

 

Richard Meffley, President Unit 522

 

 

 

 

 

TO:  Richard Meffley, President Unit 522

 

I understand that this completed form will be used as a non-binding estimate of contributions and/or loans by Unit members to purchase or build a new Fresno Bridge Center. 

 

There are three ways to contribute funds to this project: 

 

ALTERNATIVE 1

 

A - I may contribute $ _________ to the Unit’s Building Fund on or about the following

      Date: _____________.

 

B - I may pledge $ ____________ to the Unit’s Building Fund and contribute $ ________

      per month until the pledge amount is reached.

 

C - I may pledge $ _____________ to the Unit’s Building Fund and contribute $ ________   

      per year until the pledge amount is reached.

 

ALTERNATIVE 2

 

A - I may invest $ ____________ in a site for a Fresno Bridge Center provided the

      investment is secure and has a market rate of return. 

 

B – I may loan the Unit $ _____________ for a period of ________ years at zero interest to

       purchase a site for the Fresno Bridge Center provided the loan is secured.

       (The Unit’s legal advisor, reviewed this alternative on April 9, 2009 and made a

       preliminary determination that this type of transaction would be legal and would

       not have tax consequences to either party.) 

 

ALTERNATIVE 3 – I may bequeath $ __________ to the Unit’s Building Fund upon my passing.

 

 

 

Sincerely, Print Name ______________________ Date _______________

 

Please Reply by May 22, 2008