I believe that the Foundation charges a one-time percentage on gifts, whether
they be initial gifts or follow-on. I believe it is higher than 1%, but I
don't know anything beyond that. The annual expenses of the Foundation are
spread among all of the assets in the various accounts on an annual basis....
an "expense ratio", similar to what a mutual fund would charge. This expense
ratio covers the overhead and operating expenses of the Foundation.
I believe that this is the way they work, but I'm certainly no authority and
would welcome any corrections. I'm all in favor of this effort, but I think it
would probably be a good idea if we knew how much of our contributions would be
taken initially by the Foundation for their use, and how much we would net.
BSch
-----Original Message-----
From: Bryan Crook <bryan.crook77@xxxxxxxxx>
To: fighting_texas_aggie_band_class_of_1977@xxxxxxxxxxxxx
Sent: Tue, Jan 12, 2021 9:31 pm
Subject: [fighting_texas_aggie_band_class_of_1977] Re: Memorial Fund
I am fine with what has been discussed and will contribute. --Bryan Crook
On Tue, Jan 12, 2021, 9:26 PM Michael Brown <dmarc-noreply@xxxxxxxxxxxxx> wrote:
The way this email list nests messages together, makes it really hard to
follow.
Steve (or anyone else), I'm fine with anyone else taking the lead or signing
the papers. Since I'm up here on the DEW line, I seldom get down to College
Station. Cindy is gracious with her goofy uncle, and I certainly don't mind
doing what I can.
As you've probably figured out, no one is collecting money yet, we're just
batting the idea around. But given the response, it appears we have plenty of
support. I don't think it will take 5 years to hit $25,000, though it's nice
to know we have a cushion. Frankly, I think it might get done in five days.
And as we've discussed so far, the intention is not a one and done deal. Well,
I don't see it that way, at least. My original thought was to set up one
account where we could remember our fallen classmates in a permanent way. So
hit $25k ASAP, then the next time one of us croaks, the rest can send $$$, not
flowers. (Or both, if we wish).
Let your survivors know to put in your obit to give donations to the Fund, if
you wish.
Whatever is in the fund, 4% goes to the designee. The funds are managed to
make more than 4%, so they should grow, as well as shed off a scholarship
yearly. So the more we add, the more the scholarship is worth.
If some of you want to put the fund in your will, great. However, if you are
going to drop big bucks on Aggieland, I suggest you visit with my niece to
figure out if there are other avenues for you, as well.
I'm being a little selfish here, but it really helps her job performance rating
if she brings in more $$$$$. That's why I'm steering things her way.
Plus, some of you have worked with Cindy personally, and know how good she is.
I won't divulge your business, but you certainly are welcome to let folks know.
Ed, I'm with you, I will not be telling my gift. I actually see it both ways.
A generous gift can encourage others to follow their lead. But I guess I was
raised too Baptist to want to divulge my giving. And I don't want to embarrass
someone who might not be flush with cash right now, with the crazy economy.
On Tuesday, January 12, 2021, 08:54:35 PM CST, Stephen Wright
<dmarc-noreply@xxxxxxxxxxxxx> wrote:
Who is collecting money and where do we send it? Cheers , Steve W
Sent from my iPhone
On Jan 12, 2021, at 6:01 PM, Michael Brown <dmarc-noreply@xxxxxxxxxxxxx> wrote:
I think your standards are on the money.
On Tuesday, January 12, 2021, 05:50:47 PM CST, DANNY POPHIN
<danpophin@xxxxxxx> wrote:
My Response.
I will pledge at least $1000, depending on how business goes this year, I will
increase that amount. I agree to restrict it to a current BQ and don't care if
they are fish, phead, sergebutt or zip. I would recommend that once the
individual receives this scholarship, they retain it for each year they remain
in the FTAB. I would recommend this be allowed to be used for what the
individual deems what they need it for, tuition, books, room/board, ring, etc.
Let's treat them like an adult, they know their situation better than we will.
I think this should be based on both need and grades. My reco would be that
the individual should maintain at least a 3.0 GPA each semester, that may seem
harsh, but I believe this should be treated like a contract. I did this with
each of my kids when they went to college.
Dan PophinFrom: fighting_texas_aggie_band_class_of_1977-bounce@xxxxxxxxxxxxx
<fighting_texas_aggie_band_class_of_1977-bounce@xxxxxxxxxxxxx> on behalf of
Dean B <canyonag77@xxxxxxxxxxx>
Sent: Tuesday, January 12, 2021 5:49 PM
To: fighting_texas_aggie_band_class_of_1977@xxxxxxxxxxxxx
<fighting_texas_aggie_band_class_of_1977@xxxxxxxxxxxxx>
Subject: [fighting_texas_aggie_band_class_of_1977] Memorial Fund Hi guys, lots
of interest in a possible memorial/scholarship fund.
Not to mention a generous and humbling pledge from John.
I've held back for a few days because I was under the impression that Keith G.
was doing some investigating. If you want to take a lead, Keith, that's fine.
Obviously, I am close to my niece and would be happy to be the contact. In
fact, just got a text that she'll be calling me tomorrow.
I'll update with anything I learn, but here's some things to consider.
Assuming my $25K minimum is correct, with John's pledge, we only need another
$20k, or less than $500 from each of the rest of us. So think what you want to
give.
Start cogitating about how the funds are to be used. I assume we are going to
restrict it to BQs. If so, for fish, phead, sergebutt, zip? If we give it to
a cadet, do they get to keep it each year until they graduate, or change
beneficiary yearly? Are we going to designate it for a certain thing, like a
ring? Or general fund.
Do we want it need based, or simply merit? I assume we will have some basic
performance standards, as far as grades and remaining a BQ.
I await your input.
Dean
