The ARPAS Foundation now has assets of $40,000. The objective of the Foundation is to use the earnings from these assets to fund educational activities for current and prospective ARPAS members.
The ARPAS Foundation committee, currently chaired by Past-President Darrell Johnson, recently had a conference call to discuss the long term objectives of the foundation and to decide how the assets should be invested so as to provide funding for these objectives. Activities considered include potential scholarships for field internships and other events that might stimulate membership among graduate students.
The committee agreed to use the same investment criteria for the Foundation assets as is currently used for other ARPAS assets. This asset mix is: 75% of the assets will be invested in fixed income investments such as certificates of deposit, treasury bills and bonds. The other 25% may be invested in mutual funds and other growth vehicles.
The committee also considered ways to raise additional funds to increase the assets of the foundation. One suggestion was to sell clothing items with the ARPAS logo to our members. ARPAS members will also be encouraged to consider tax deductible gifts to the Foundation. The ARPAS Foundation Board will be planning activities and projects for fund raising and develop ideas to use the money earned from the assets of the Foundation. Your ideas for fund raising and educational activities are welcomed by this committee. A full report will be presented to the ARPAS Governing Council at the meeting in Denver.
The funds accumulated by the ARPAS Foundation are to be invested at the discretion of the board of directors of the ARPAS Foundation.
Only the earnings from the invested funds will be used to support the educational efforts of the Foundation. The principle will not be used except under extreme circumstances as determined by directors of the ARPAS Foundation and the ARPAS Governing Council.
The ARPAS foundation Board will make the final decision regarding the educational efforts to be funded by the Foundation. ARPAS members are encouraged to suggest uses for these funds.
The ARPAS Foundation Board will lead the ARPAS efforts to raise funds for the Foundation.
In the event that the Foundation should be terminated, any remaining funds will become the property of ARPAS.
The General Principles and Guidelines for operation of the ARPAS Foundation are governed by bylaws accepted by the Governing Council. Within in the next month you will be asked to accept these bylaws.