<VV> Re: CPF FUNDing

[Mark Corbin]

Having experience with my own Lodge's endowment fund, being on the Temple Board for some years now, I can tell you that having to hire a professional to manage an endowment fund is NOT necessary. Only a good broker, which you can get at any investment house as standard equipment  (to put it in car terms.) And anybody who tells you differently is probably out only to line his own pockets at our expense.

Also, the sole idea behind  an endowment fund is so that the operating fund doesn't have to rely on donations. The interest, from day one, from the endowment can be used by the operating fund. As to donations to the operating fund drying up, I rather doubt that happening, especially with a policy of only accepting $1000+ donations to the endowment. Smaller donations are usually par for the course.  I only mentioned having to fund the operations from CORSA's general fund to illustrate a worst-case senerio. In practice, few if anything that the CPF does today would "require" an expenditure. For the most part, the CPF board has only spent money when that money was available. So the worst-case senerio is probably not going to happen.

I think that what the CORSA board needs is a volunteeer to manage the CPF Endowment Fund. I'd recommend Tony Vizyak, if he wasn't laid up, because he also is on my  Lodge'sTemple Board, and knows about our endowment fund, even though he hasn't had as many years experience as I do.

-Mark


----- Original Message ----- 
From: 
To: airvair at earthlink.net;virtualvairs at corvair.org
Sent: 8/12/2007 2:34:32 PM 
Subject: Re: Re: CPF FUNDing


In a message dated 8/11/2007 10:57:57 PM Pacific Daylight Time, airvair at earthlink.net writes:
However, if in the outside chance that all donations would end up going to the endowment, then the board would be compelled to fund the CPF operating fund from the CORSA general fund, and NOT rob designated donations from the endowment. To do otherwise is unthinkable.

-Mark


Mark - Funding the CPF activities from the Corsa general fund? I'm not sure that is legal - I defer to the Board Member's opinions on that. Corsa and CPF really are two separate bodies now. I hate to say it, but if the operating funds were not forthcoming for CPF, activities that cost money would have to be shut down. I never suggested that money be moved from endowment to operating funds. Although I'll bet that this would be legal, since dissolving the entity would be the alternative, and what would be the benefit of the endowment if that were to happen. That is why a professional would be chosen to run that type of actiity, and the reason it hasn't been done is that the fees would exceed the value of the endowment - at least at it's current level. The above is my opinion only. I currently have no "Dog in that fight", so to speak. - Seth






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