What does Mercy Crew Cost to run each year?
Our Budgeted cost for the 2018-2019 season is approximately $120,000.
What is our budget breakdown?
- Coaching fees are $42,000 (36% of the budget)
- Regatta fees are $11,000 (9%)
- Boathouse rental is $13,900 (12%)
- PIRC (tank fees) are $1,500 (1%)
- Fuel for launches $3,200 (3%)
- Insurance $6,000 (5%)
- US Rowing Fees $1,800 (2%)
- Equipment Cost $38,000 (32%)
- $2,500 interest (2%)
- $15,000 principal (13%)
- $20,500 depreciation (17%)
What is the fee for my daughter to participate in crew for a season?
This season, $35,000 of the cost of running the program was generated through fundraising, sponsorships and a small stipend from the school. These funds significantly offset the fees that we need to charge each family.
The fees are broken down into the costs associated with each season. For the 2018-2019 season, the registration fees are anticipated to make up approximately $85,000–just over 70% of the budgeted cost to run the program.
- $750 for the Fall Season (True program cost $1,059)
- $150 for the Winter Training Session 1 (True program cost $214)
- $310 for the Winter Training Session 2 (True program cost $443)
- $750 for the Spring Season (True program cost $1,059)
Why is crew so expensive?
Having enough coaches on the water for approrpate supervision and rower development requires a significant investment in launches as well as coaching fees as well. Coaching fees are the largest budgeted expense.
The second largest cost is that to acquire and maintain our fleet. Modern crew boats are expensive to purchase, insure and maintain–a new quad typically costs close to $30,000, for example, before adding $3,000 to purchase oars for it–that works out to over $8,000 per seat). High quality boats are fairly durable, but with heavy use boats gradually break down and lose their structural integrity over time and need to be replaced after many seasons. In the same way that a used car loses value or depreciates, boats, too, lose some of their value as they are used over many seasons. By accounting for depreciation in the budget, we ensure adequate funds are available to pay down loans and purchase new equipment.
As a club sport, we receive very limited funds from the school to offset our expenses. We are indebted to our generous sponsors who reduce the fees we need to charge our families.