Ingram Family Issues Challenge to Retire the RV/MH Hall of Fame’s Bank Loan
October 8, 2012
Filed under RV News
Following on the heels of the successful five-month $100,000 Challenge Grant from the Ingram Family raising more than $170,000 through contributions, the Ingrams have once again stepped up to the plate with another challenge.
This time, Tony Ingram, representing the Ingram Family, says the Ingram Family is offering to donate an additional $50,000 in the form of another challenge grant if the RV/MH Hall of Fame (Hall) can raise $150,000 through voluntary donations by April 30, 2013.
The Ingram’s first challenge contributed more than $270,000. This, along with other savings, helped the Hall to reduce its bank loan from $828,000 down to $283,000.
This new fundraiser is being dubbed, “Burn the Bank Note” Challenge.
Darryl Searer, president of the RV/MH Hall of Fame, said, “Wow! This is great.
“With normal monthly payments our 1st Source Bank loan balance at the end of April 2013 will be down to $201,000. If we are able to meet the Ingram Family’s $50,000 challenge by raising $150,000, we will be able to retire that debt and burn the bank note.”
In January 2012, the future of the Hall was in doubt because of its financial burdens and that’s when Searer decided that he might be able to help. Searer believed that the Hall was too important to the RV and manufactured housing industries and the Elkhart area to allow it to collapse so he volunteered. Searer came aboard as the Hall’s uncompensated president and CEO on March 15, 2012.
Since that time through a series of discussions with debt holders and fundraisers, the Hall today is on solid financial ground and its future is bright.
“Our work isn’t done,” Searer added. “We still have some challenges but now we control our own destiny. We will be able to meet our obligations and can assure friends and skeptics alike that the Hall will survive for many years to come.”
Searer shies away from taking too much credit for this turnaround. He said, “The real heroes responsible for this turnaround are the hundreds of friends of the Hall who have opened their hearts and pocketbooks because they also believe the Hall is the shining star of the RV&MH Industries.
“And near the top of the list of our heroes is the Ingram Family who continues to show their support for the Hall. Their generosity in making this latest challenge should inspire everyone concerned about the long-range health of our wonderful facility to pitch in and help.
“Let’s all look forward to celebrating on or before April 30th and lighting of the fire to ‘Burn the Bank Note’.
“In order to do that, we need more heroes to help us raise $150,000 in seven months.”
Gifts may be made by mail, in person at the Hall, by phone at 800-378-8694, or on the Hall’s web site: www.rvmhhalloffame.org. Since the foundation is 501c non-profit organization, all gifts are tax deductible.
To make a contribution by mail, send your gift by check or money order to: Burn the Bank Note Challenge, RV/MH Hall of Fame, 21565 Executive Parkway, Elkhart, IN 46514.