Y'all check my numbers here, but this is what I think we need to be able to
award a scholarship THIS FALL:
* The original corpus of $25,000. * The additional $1000 for the
one-time fee to the Foundation * NOW... an additional $1000 that will be
the actual award for this fall only. The $25,000 corpus won't have been in the
Foundation's program long enough by this fall to be able to make an initial
award... the corpus will have generated enough earnings to make an award in the
fall of '22, but not by this fall. I think if we want our scholarship to be
able to make an award in the fall of '21, we're going to have to kick in
another $1000.
Am I right?
BSCh
-----Original Message-----
From: Dean B <canyonag77@xxxxxxxxxxx>
To: fighting_texas_aggie_band_class_of_1977@xxxxxxxxxxxxx
<fighting_texas_aggie_band_class_of_1977@xxxxxxxxxxxxx>
Sent: Tue, Mar 9, 2021 11:27 am
Subject: [fighting_texas_aggie_band_class_of_1977] Scholarship, moving forward
#yiv5076916975 P {margin-top:0;margin-bottom:0;}Once again, thanks so much for
the generosity of everyone who has contributed to the scholarship so far. I
look forward to hearing soon that we've broken both the $25K mark needed for a
2022 scholarship, and the extra $1K that allows us to begin the scholarship in
2021.
It seems a good time to reiterate that this is not a one-time deal. If you
haven't contributed yet, or as much as you wished to, the fund is open to gifts
for as long as anyone is willing to give.
While the first $25K was the initial goal, I agree with others that we need to
keep kicking in some cash to allow for expansion of the fund. Personally I
plan to give memorial gifts in honor of any of you who rate a Silver Taps
Notice before I do. And I plan to give to this fund annually, and encourage
others to do so.
I was intrigued by Schwennsen's suggestion of multiple $1000 scholarships, vs
keeping the fund in one scholarship. We can help a few cadets with a little
cash, or one cadet with a bigger award. I do like the idea of helping more
cadets, but I still lean toward keeping it in one major award.
One reason is inflation. While $1000 a year sounds like a lot to we old farts,
I ran the numbers through an inflation calculator. A thousand dollars today is
equal to about $200 back when we were at Aggieland. In another forty years,
when we want the scholarship to still be around, those numbers will be even
worse.
Obviously, trying to decide what to do with another $25,000 to $75,000 is a
great problem to have, and we can discuss that issue when the time comes. Or
as I like to say, we can burn that bridge when we come to it.
Thanks again to all.
Cc: Facebook FTAB '77
