Gold standard giving plan to support Bermuda on the world stage
A new fund has been launched to support Bermuda’s athletes in perpetuity. The establishing donors to the Flora Gold Fund are Gosling’s Limited, who are committing proceeds from the sales of the new Flora Gold rum, which could amount to a donation of over $100,000.
The ultimate goal of this legacy fund is to enable Bermudians to follow in the footsteps of people like Olympic medalists Flora Duffy and Clarence Hill and represent Bermuda on the world stage.
All donations to the new endowment fund will be invested, with a portion of the income earned spent each year. The remainder will be added to the fund’s principal amount for growth and in this respect, the Flora Gold Fund represents a perpetual gift to Bermuda’s athletic community.
The Flora Gold Fund and the Flora Fund are both managed by the Bermuda Foundation, whose CEO Dr Myra Virgil notes: “This is an exciting step as it provides choice for donors: they can opt to contribute to the Flora Fund for ‘here and now’ giving, where the monies can be spent immediately to assist athletes in need of help today. The Flora Gold Fund, as an endowment, is a plan for the long haul; it will provide support to Bermuda’s young athletes for decades to come.”
Gosling’s has already contributed to the Flora Fund raising $18,000 by means an auction of the first 15 bottles of Flora Gold rum. “We were delighted to do that, but we also wanted to accomplish something longer term,” says Malcolm Gosling, VP Gosling’s Export and Director of Gosling Brothers.
“Gosling’s is the oldest business in Bermuda, and we understand the need to be prepared for the long haul. There has to be a plan, and that plan in this case is funding. We know that this tiny island can produce world class talent and we want to ensure that everyone with that potential talent has the support to realise it. It’s a costly business to get to that elite level.”
Gold medal Olympian Flora Duffy established The Flora Fund – Scholarship and Bursary in 2018, and since then has supported the purchase of equipment, travel, training fees, event registration fees, and coaching for seven athletes, adding an emergent track star to the roster this month. Others assisted have included triathletes, tennis players, footballers, runners and gymnasts.
Flora Duffy herself is humbled and excited about the opportunities presented by the two funds in her name. “I had help from so many people along the way and it is a privilege to be part of a community movement to make it more accessible for the next generation.
Thank you to Gosling’s and the Bermuda Foundation for nudging The Flora Fund towards this long term, sustainable direction. With enough local support for the Gold Rum, we are going to reach the $100,000 goal with Goslings, and that is remarkable. With that, we’re dreaming of adding another 9 large donations to the endowment fund
over the next year. I don’t know if that is achievable, but I am determined to try. None of the funds go to me, it is all received and dispersed through the Bermuda Foundation. Though I am steering the approval process for allocation. My motivation is simply to make sporting excellence more accessible in Bermuda, and I’ll keep refining how that is realized. It has been a thrill to make a small difference in a few sporting journey’s since the 2018 launch. If you have any queries on my vision in consideration of a donation the Flora Gold Fund – please get in touch on info@theflorafund.com and I’ll be happy to engage.”
Anyone wishing to contribute to either The Flora Fund or the Flora Gold Fund, go to www.bcf.bm and click GiveNow – or buy a bottle of rum!
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