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 This is an extensive and exciting upgrade of several essential but outdated facilities .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