DERBY - IROC has received a $35,000 donation from Ray and Christine Pronto to help cover operating expenses while it seeks refinancing. This donation brings the total operational fundraising during the past four weeks up to $106,206 in cash, pledges, and write downs of accounts payable.
In addition, with the help of Fran and Melanie Azur and the Jenesis Group, IROC was able to shed $650,000 in debt just last week.
"We can’t thank Ray and Christine enough for their support during this challenging time. We have a ways to go in order to refinance our remaining debt, pay for repairs and refurbishment of the building, and establish some operational cash reserves. But this donation along with all of the many others we have received helps us buy the time we need to try to put together a refinancing package that will be acceptable to VEDA," wrote executive director Phil White in a press release.
Over the years, Ray and Christine have been two of the biggest supporters of IROC, donating approximately $600,000 to help build the facility and operate it.
In explaining their decision to make a donation at this time Ray said, "It would be a shame to lose all that we have worked for these past few years, and therefore I decided to reach out to IROC once more with hopes that it allows you the additional time to get the debt restructure in place so that you can continue to provide all the services to the community that IROC has gained a reputation for. I truly believe that the community realizes the value that IROC brings more so than at any time in the past. I sincerely hope that, those who can, will step forward and lend a hand or provide a gift to help out the most successful recreational center in the Northeast Kingdom."
IROC is now over half way toward its goal of raising $200,000 before the year's end.
"The outpouring of support, large and small, during the past four weeks has been truly inspiring," White wrote.