Elkhart, Ind.-based Ultra-Fab Products Inc. has donated $2,500 to the RV/MH Heritage Foundation Inc.’s “Burn the Bank Note” Challenge campaign, the latest drive by the RV/MH Hall of Fame to pay off its bank loan to 1st Source Bank by April 30, 2013.
“We believe as responsible citizens of the RV industry and Elkhart area we have an obligation to support charitable causes which contribute the prestige of the industry and the community,” Ultra-Fab President Craig Searer said in a press release.” I cannot think of a more worthy cause than the RV/MH Hall of Fame. As suppliers of products to the RV and other industries, we have enjoyed much success, and this is our way of giving back to the industry that has been so good to us.”
The “Burn the Bank Note” challenge is a result of the Robert “Boots” Ingram family’s offer of a $50,000 challenge grant for the purpose of paying off the Hall’s note to 1st Source Bank – provided friends of the Hall can raise $150,000 in voluntary contributions by April 30, 2013. At that time the bank note through normal payments will be down to $201,000.
This new challenge follows the recent “Ingram Family $100,000 Challenge,” where the Hall raised more that $171,000, and with the Ingram’s $100,000 grant was able to substantially lower its bank loan.
At the beginning of the $100,000 challenge, the bank balance was $828,000. That was reduced by the end of August to $283,113. This total of $544,887 was the sum of the $271,000 plus $273,887 that came from the regular payments plus additional cash flow from other pledges already in existence.
Searer challenged other companies and individuals that have enjoyed success in the RV and manufactured housing industries to follow Ultra-Fab’s example and contribute what they can afford to help the Hall meet this latest challenge.
Tax-deductible gifts may be made by mail, in person at the Hall, by phone at (800) 378-8694, or through the Hall’s web site: www.rvmhhalloffame.org.