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  1. #1
    CC Candidate Master jeffrei's Avatar
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    $4,000 junior development fund

    Quote Originally Posted by jeffrei
    I asked a question about prizes at the Australian Juniors, but then I withdrew it because I remembered reading in the newsletter that there were going to be $5,800 in prizes (total). It's all good.

    But I was still wondering about this ==> are there any plans yet about what to do with that $4,000 set aside for the development fund?
    Quote Originally Posted by jenni
    I don't believe it has been discussed at all, so if you have any ideas please put them forward.

    I was hoping this was something the ACF Junior sub-committee would deal with. Denis Jessop has been given all the parameters for the sub-committee and he is putting together a proposal to go to the ACF. Unfortunately he has been very busy and it is not finished - I was hoping it would go up to the next ACF meeting.
    My $0.02:

    I’d like to see the $4,000 sensibly invested in shares, and then the annual dividends could be used to fund the selected kids’s trips to international junior events (World Youth, Children’s Olympiad, etc). I know that at first the dividends returned would be very small (at 5% it’s $200, and then divided by 10 is only $20 each), but it’s a start. If people don't like receiving $20 cheques maybe we could just use the fund to defray the - considerable - cost of uniforms at first, and then try to work on airfares later.

    Having a permanent fund in place could help us receive more donations and bequests and especially sponsorship. I’d much rather go up to a company and say ‘we’re looking for a sponsor for our development fund’ than ‘we’re thinking about starting a development fund…would you like to sponsor it?’ How about we have a system where the organization/individual sponsoring the highest amount in a certain period has naming rights over the fund for the next 12 months…I’ll start the bidding, by pledging $50.

    /jef

    PS: Other ideas are very welcome on this thread. Basically I’m just creating it to make sure that people don’t forget that this $4,000 exists!
    Last edited by jeffrei; 14-09-2004 at 06:46 PM.

  2. #2
    Account Permanently Banned PHAT's Avatar
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    Jeffrie shares are under valued at $0.02.

    BUY!

  3. #3
    CC Candidate Master jeffrei's Avatar
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    Quote Originally Posted by Matthew Sweeney
    Jeffrie shares are under valued at $0.02.

    BUY!
    Word is my stocks are on the rise...

    Again, let me state that I'm interested in hearing different ideas on what should be done with the money. Maybe Jenni and/or Kerry have something to say?
    Last edited by jeffrei; 14-09-2004 at 06:33 PM.

  4. #4
    CC Grandmaster Garvinator's Avatar
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    Quote Originally Posted by jeffrei
    Word is my stocks are on the rise...
    was that word from rene rivkin

  5. #5
    . eclectic's Avatar
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    Quote Originally Posted by ggrayggray
    was that word from rene rivkin
    no, if the word was from him, the stocks would be seriously depressed ...



    eclectic
    .

  6. #6
    Account Suspended jenni's Avatar
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    Quote Originally Posted by jeffrei
    Word is my stocks are on the rise...

    Again, let me state that I'm interested in hearing different ideas on what should be done with the money. Maybe Jenni and/or Kerry have something to say?
    Sorry Geoff - I've only been whipping in and out of the BB recently

    I think yours is a good idea - Graeme Gardiner had a similar idea years ago. Initially when he was proposing a rating fee, some of the funds gained was going to go towards establishing a travel fund that could grow.

    I like the idea of creating a fund, as it means the money isn't just used up and gone, but generates benefits for many years.

    $4,000 is a very tiny amount though. It would have to be invested well, so that it can keep pace with inflation, as well as allowing revenue to be used for travel. Your idea of sponsorship is good. Also what about the schools levy? e.g. around $6,000 to $7,000 is levied on the schools comps around Australia. Couldn't say $2,000 per year be taken and added to the fund? Over time this could build up into a serious amount of money, thus the income could be more than just a token contribution.

    Of course there might be other things that could be done with the fund.

    e.g the travel idea benefits the kids at the elite level.

    Should perhaps the money be used instead for grass roots development? Maybe running coaching days in country areas, such as Drouin or Coffs Harbour? Or what about having a lucky draw each year for kids entering the Aus juniors. Say the fund is generating 3% above inflation. That is $120 in the first year. Have 2 lucky draws, where the winner can buy chess books to the value of $60.

    I am sure there are lots of ideas - please keep them coming.

    (Denis has now completed his proposal for the Junior sub-commitee and it has gone out to some ACF members for comments.)

  7. #7
    Account Suspended jenni's Avatar
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    Quote Originally Posted by jeffrei
    - considerable - cost of uniforms at first, and then try to work on airfares later.


    !
    Uniforms are a large cost - This year the jacket cost $110. However we are still more frugal than some other countries who have a whole tracksuit and of course the South Africans have the whole lot - caps, backpacks, tracksuits.

    What we have done to bring down the cost is use the same uniform this year - kids going consecutive years just have more embroidery added. e.g last year it was Greece 2003, this year it will be Crete 2004. Unfortunately it looks like the jacket is being discontinued, so that next year everyone will have to buy the jacket again.

  8. #8
    Account Suspended jenni's Avatar
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    the team 2003

    The uniform 2003
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  9. #9
    Account Suspended jenni's Avatar
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    The coaches

    The coaches and the uniform 2003 (All photos courtesy of Cathy Rogers, who has become official team photographer).
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  10. #10
    CC FIDE Master george's Avatar
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    Hi All,

    During the tournaments at Mt Buller if the Mercure Grand Chalet is patronised well re bednights there is a distinct possibility that this $4,000 donation to a Junior Developement Fund could become an Annual Thing. So perhaps lets wait till after the dust settles on the Open / Junior etc and give people an opportunity to assess.

    If things go well perhaps we can use the interest and half the money allocated each year ie half the new lot of $4,000 each year in that specific year. That way the Mercure Grand Chalet / ACF Junior Developement can grow and spend money as well.

    Continuing support of a substantial level for future years depends upon people staying at the Mercure Grand Chalet. That has been as simply put as is possible so that there can be NO misunderstanding.

    Regards
    George Howard
    Main Organiser Mt Buller Tourneys

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