The Collingwood Dragon Boat and Canoe have launched a fundraising plan for the Watts boathouse.

The organization needs to raise about $20,000 for the $70,000 renovation, so it has launched the Watts Boat House Lifesaving Society.

The club has three levels of donors and all donors will be recognized on the Watts Life Ring Society.

"The Watts Life Ring Society is the club's way of recognizing all donors and putting their names on display at the boathouse, said club president Brian Sauderson. "The plaque itself is made from antiques from the Watts boathouse and the life ring is a restored antique cork life ring and the plaque is made from century oak."

On Tuesday, the club recognized three donors as 'Admirals', Peter and Angela Watts, the Town of Collingwood and Fram/Slokker real estate group. Admirals are those individuals and groups who donate more than $5,000.

The Watts family donated the boathouse, while the town has provided several grants and FRAM group helped fund the move.

In December, the club set up a special account with the Town of Collingwood, for those who wish to make donations.

"It is a unique opportunity for people to get involved in the preservation of Collingwood's heritage while, at the same time, contributing to building our future."