Frequently Asked Questions:
Civic Improvement Fund
The Civic Improvement Fund was established in an agreement between the Town of Springfield and The Edgar May Health and Recreation Center. The agreement clearly stipulates that only the interest, earnings, and capital appreciation generated may be used by the EdgarMay towards operating costs. This decision makes sure that the fund is sustainable and protected. There is still the original $2.7 million in the fund after $300,000 was provided to the Springfield Parks and Recreation Department for various improvements.
Here are a list of questions we regularly receive regarding the fund and how the money is used.
Was the money used to build the facility?
No, the building was built using donations, grants and a loan. Only interest, earnings, and capital appreciation above the $2.7 million threshold can be used by the Edgar May Health and Recreation Center for operational purposes.
How much money does the fund earn in a typical year?
The average earnings of the fund is $124,000 per year over the 13 years it has existed.
How is the money used by the Edgar May Health and Recreation Center?
The money we receive from the Civic Improvement Fund allows us to keep our rates considerably lower than other similar facilities. We use the monies to offset our operational costs in order to offer these rates. In addition to allowing us to keep our rates affordable, the fund also allows us to offer nearly $40,000 per year in scholarship assistance, with Springfield residents getting priority.
Since the building was purchased by Springfield Medical Care Systems, does that mean they get access to the Civic Improvement Fund money?
NO! The Edgar May Health and Recreation Center is the only institution that can access those funds. Our finances are never co-mingled with SMCS and we operate as a completely separate entity.
How important are the funds to the EdgarMay?
Without the earnings from the Civic Improvement Fund our membership rates would be significantly higher. This fund ensures that the EdgarMay is a sustainable organization and can continue to provide area residents with affordable access to indoor health and recreation centers. The money from this fund also allows us to offer FREE swimming lessons to all Springfield first grade students, scholarships, our FREE monthly classes, and our Prescription for Exercise Program.
What can I do as a member to help?
You can help educate others in our communities about the Edgar May Health and Recreation Center. If you value our work, please write a letter to the editor of your local paper about your personal experience at the Center. Fill out an “I am an EdgarMay Member” form at the Front Desk and share with us why you love the Edgar May Health and Recreation Center.