Lorna Stoddart and Alex Roe, is a professional, multitasking group. It is very well organised and everyone is committed to working closely with those interested in supporting or enjoying Winchester in whatever way. Last year they organised 67 events including OW reunions, the Goddard Legacy Society, the Friends, the Wykeham Patrons’ trip, a visit to the Somme, a lecture by the newly-funded Duncan Louis Stewart Fellow in Natural History, and receptions in New York, Dubai and Hong Kong. These were attended by over 3,400 people, or over 2,270 if repeat guests are excluded. That is an extensive range of relationships that we seek to cherish and nurture. Alongside all this, the team continues to publish and distribute The Trusty Servant, and through the generous support of many benefactors it has raised, in cash and pledges, nearly £ 30m over the last 7 years. One notable highlight this year has been the opening of the new Treasury, exhibiting many of the College’ s finest possessions on a rotating basis, and now open to members of the public. This has been a wonderful project and a visit is thoroughly recommended. The next major project is the development of Kingsgate Park, the area surrounding KP and the PE Centre. This is an extensive and exciting upgrade of several essential but outdated facilities. Achievements so far and future plans are all impressive, but it soon became clear to me that the scale of the school’ s ambitions, the implementation of the Founder’ s vision, and the cost of maintaining such a large and historical place, need even more support. An integral part of his vision was to provide, through charitable endowment, access to education for those who would benefit most, irrespective of their parents’ ability to afford the cost. The Governing Body’ s target of 30 % of boys having access to bursaries is a laudable but expensive one that many of us are pleased to support. The income necessary to provide this level of bursaries is around £ 5m and would require a capital fund in the region of £ 170m. Our supporters donate generously in so many ways, whether it be through regular or one-off gifts, favouring one or more of the Annual Funds, our Endowment Fund or a specific capital project. The principal focus of the Endowment Fund remains the provision of the expanded bursaries mentioned above, the maintenance of our historic buildings and the Quiristers. Some also choose to pledge a legacy in their Will. This latter area is my primary focus. We currently have 250 individuals, drawn from right across the constituent membership of Winchester College Society that I mentioned earlier on, who have generously committed to leaving the school a legacy in their Wills. This method of support can often suit those who, though keen to support the school, are cash-constrained, while there is the added bonus of avoiding Inheritance Tax(‘ IHT’) on a taxable estate through making a charitable legacy. It is also worth bearing in mind that the IHT rate is reduced from 40 % to 36 % if 10 % or more is left to one or more Charities. Pledges tend to come in various forms: straight cash, an index-linked cash amount, or as a percentage of the value of an estate. The effect of inflation can, of course, decrease the real value of a straight cash gift over time: for example, £ 10,000 left in a Will ten years ago is worth around only £ 7,420 today. Needless to say, perhaps, one of my main focuses will be to encourage those who may not have intended this outcome that they might like to revisit their affairs! Why do legacies help Winchester? Knowing that the school has a future stream of legacy-funding, which is invariably added to its endowment, allows us to plan ahead and to model how much we can afford to spend on bursaries, amongst other things. But we do not want to take such generosity for granted. The school shows its gratitude by inviting the membership of the Goddard Legacy Society, whose current Chairman is David Fellowes( I, 1963-67), to meet annually on Goddard Day for an event at Winchester, always a very well-attended and enjoyable occasion. I recently signed up for a workshop on legacies – yes, such things do exist! I was told that those who pledge a gift in their Wills tend to live longer and, believe it or not, get divorced less often! In conclusion, whilst I cannot evidence these claims, if anyone reading this would like to show their support of Winchester in this way( thereby increasing their chances of longer life and marriage), or wishes to update an existing legacy, then please do get in touch. You would be joining a generous, feel-good group of Old Wykehamists and many others.
The Wykeham Journal 2016 49