Discussion
Please leave your discussion comments here about either the 40th or 30th reunion gifts.
New Class Gift
Our 40th reunion class gift, announced at the banquet, is to support restoration of the class banners and to start The Open Door Mentoring Fund so ANC can recognize and support faculty and staff who are making meaningful connections with student outside the classroom. If you would like to contribute to this fund, please send a check to our class reunion treasurer, Keith Hyatt, PO Box 967, Bryn Athyn, PA 19009. Look for future opportunities to support this fund annually!
Old Class Gift
We also need to clean up some business from our 30th reunion. There is a fund of about $10K that we raised 10 years ago and earmarked for the College for a planned outdoor stone altar that never materialized. In the spirit of giving to the College (we wanted to make a statement of unity there), the planning committee suggests donating to the Sherri Rumer Cooper Research Fund, which was established a couple of years ago to fund faculty-mentored undergraduate research at the College. The fund is invested and distributes its income each year, so growing the fund will help increase the available annual support and the gift will keep on giving! We envision this to be a model for how our Open Door fund will work at ANCSS.
Sounds good to me!
I love the idea of giving to the college in Sherri’s name.
I would agree on the 30th funds going to Sherri’s fund.
Absolutely agree with thoughts for both gifts. xoxox
I like the idea of our class giving to the Sherri Rumer Cooper Research Fund. Does the principal remain untouched and whatever the fund makes on interest gets distributed? And is this what we are thinking for our 40th gift? That means that we need to boost the principals to make these funds truly effective….and over time the gifts will grow!
PS. How much have we raised for our 40th class gift to date?
To Janet’s point, the College’s SRC Research Fund does not use principal – only income gets distributed. We can encourage the same if there is enough in the Open Door Mentoring Fund. Normally distributions from ANC investment funds are 5% per year, so every $10K in the fund yields $500 per year for an award. What do Classies think about how strict we should be on not distributing principal from the Open Door Fund? We could encourage them to not use principal, but leave it to their discretion; or we could define it so they can’t use the principal.
Hello all,
Using the holiday weekend to catch up on email. . . . I agree about giving to the S. Cooper Fund — great idea. I’d be in favor of leaving some element of discretion in place for the Open Door Fund, as long as it’s carefully worded (to make it, essentially, difficult to spend principal, but not impossible). I’m thinking that sometimes a situation can arise where you need to be able to spend a little bit more, dipping into the principal, in order to accomplish a specific goal. Especially if you can foresee a way that the funds can be replenished quickly. Of course, it’s always easier to say this, than to figure out how to word it! So if people want to restrict it 100%, that’s fine too.