Motorhoming | Family Motor Coach Association
- Created: Tuesday, 08 October 2013 15:11
RV/MH Hall of Fame (Hall) president Darryl Searer's recent quadruple bypass heart surgery hasn't diverted his attention from his mission and goals for the RV/MH Hall of Fame and Museum.
"We've come a long way in the past 18 months, but we still have some exciting opportunities ahead," said Searer, who is recovering at his home.
When Searer volunteered to accept the position of president of the Hall in March 2012, his mission was to help the Hall get its financial house in order and to make the Hall debt free.
"While we are proud of the success of the original $100,000 match and the Burn the Bank Note campaign, which paid off the bank loan in 13 months, more than three years ahead of schedule, we still have two more loans to go before we are debt free," Searer said.
He said the RV Hall could not have paid back the bank note without the support of members of the RV and Manufactured Housing industries, especially, the Boots Ingram family, which contributed $150,000 in matching grants toward retiring the note.
According to Searer, of the remaining two notes, the first, a $600,000 loan to the bank, (which saved the Hall $565,000 in settling the debt for the Antique RV Collection) is important, but the $3 million note to the Ingram family is more pressing as it will pay off with $2 million due to the Ingram's 50-percent match on every principle payment.
With the original bank note retired, the Hall started making payments on the Ingram loan in August 2013, three years ahead of schedule.
"As long as we meet our monthly obligations, the Ingram's will match the principle payment by 50 percent, which means the $3 million loan will pay off with $2 million," Searer said. "That means for every $100 contributed by individuals and companies in the RV/MH industries, the loan principle will be reduced by $150."
Searer's goal is for the Hall to be completely debt free by 2020, if not before. "The turnaround in the past 18 months has been phenomenal," he said. "Let's keep it going by continuing your support."
To make a contribution toward the Ingram family's $1 million challenge grant, visit www.rvmhhalloffame.org or contact the Hall:
RV/MH Hall of Fame
21565 Executive Parkway
Elkhart Indiana 46514
If paying by check or money order, make payable to the RV/MH Hall of Fame.