Our community continues to have great questions, and we will highlight a new one with each update. Visit the Campus Campaign page for a complete and regularly updated FAQ list.
Q: What does it mean to give a multi-year gift intention?
A: A multi-year gift intention is a written commitment to financially give to a campaign over a period of time — in Ambleside's case, our campaign is three years (i.e. "I will give $5,000/year over three years, which is $15,000 total").
This is helpful to the giver because they can plan and budget to more significantly impact a cause they care about.
This is helpful to Ambleside for two reasons: First, it helps us with our financial forecasting for the project. We are able to see how much we can expect overall and how we can operationally plan to pay down our short term debt based on when funds are expected to be received. Secondly, it also directly contributes to how much we can borrow from the bank at closing to make the acquisition possible. We are currently looking at financing options that allow us to borrow up to 70% of the stated gift intentions we have at closing. This allows us to close on a property while it's available on the market and do necessary improvements, prior to all funds being collected.
