CLASS OF 1964 ENDOWMENT REPORT
1 Jul 2019
As mentioned last year on this site our core ENDOWMENT FUND continues to grow very slowly, thanks to the annual benefaction of a very few classmates, and stands at $348,000 at 31 May 2019. That core Fund, which was created from your donations prior to joining The Old Brigade, is retained intact inclusive of any new annual contributions directed by donors specifically to the ENDOWMENT Fund. The RESTRICTED FUND, holds annual donations specifically directed to the RESTRICTED FUND by donors plus the annual investment returns from both the ENDOWMENT FUND and the RESTRICTED FUND. Subsequently, our benefactions are made from the assets credited to the RESTRICTED FUND.
The RMC Foundation’s investment team results for 2018, as they impact our assets, are shown below in the 31 Dec 2018 RESTRICTED FUND balance, reflects the steep drop in markets which resulted in a net annual loss of about $13,000. That loss, together with an obligatory Foundation administration fee of 1% ( $4,800 ) of our invested assets, reduces the supportive funding for our benefactions; namely, to the SANDHURST/MILITARY SKILLS TEAM and to the Bands ( RMC & CMR ). The Bands, the Skills Team, as well as the Commandant, are most appreciative of the Class of 1964 support. To date for 2019 the Class has provided $700 to the Skills Team and $3,000 to the Band. As I learned many years ago as a student, FIGURES LIE and LIARS FIGURE. Because the benefaction demands are satisfied based more on an academic year than the calendar year, the picture presented by the financial statement is somewhat distorted.
This year is our REUNION YEAR. If you have any suggestions regarding our benefactions please forward them to me, bcameron@cogeco.ca , by 15 Aug so that they can be staffed for presentation to those attending the reunion. After the reunion, if necessary, approval for a benefaction change would be sought from all Class members based on their email address shown on the Class website.
Between now and then is also a time for all classmates to do some soul searching and to consider pledging funds to the Class ENDOWMENT FUND and/or the RESTRICTED FUND as a way of saying thanks for that ongoing contribution your RMC experience makes towards your current lifestyle. Such donations receive a tax receipt.
I can’t say it often enough......THANK YOU FOR YOUR PAST SUPPORT AND FOR YOUR REINVIGORATED CONSIDERATION TO SUPPORT OUR CLASS ENDOWMENT FUND AND OUR RESTRICTED FUND.
Cheers, Brian
(read numbers in three columns) ..............................................................ENDOWED FUND RESTRICTED FUND TOTAL
Balance as at 31 December 2018 | $346,066.52 | $68,647.18 | $414,713.70 | ||
Adjustments | |||||
Return of prior years Benefaction funds | $44.06 | ||||
Sub-total | $44.06 | $44.06 | |||
Benefactions | |||||
RMCC Band | -$2,956.61 | ||||
Sandhurst | -$645.89 | ||||
Sub-total | -$3,602.50 | -$3,602.50 | |||
Interest Attribution ( none audited to date ) | |||||
Administration Fees ( none audited to date ) | |||||
Donations to Endowment | |||||
Sub Total | $1,033.35 | $1,033.35 | |||
Balance as at 31 May 2019 | $347,099.87 | $65,088.74 | $412,188.61 |
CLASS of 1964 ENDOWMENT REPORT Jun 2018
The following documentation is based on information provided by the RMC Foundation based on results audited for Dec 2017. The 28 May text was provided to all Class members by email based on the email address provided to the Class website. Additional documents are attached providing more specific detail on disbursements and some historical information.
28 May 2018
The Core ENDOWMENT FUND has grown slowly since its inception, thanks to the annual benefaction of a very few classmates, and stands at $345,000 at 31 Dec 2017. That core amount is retained intact inclusive of any new directed contributions until the Class determines otherwise.
The Foundation’s investment team continue to do great work with an almost 10% interest attribution for 2017 ( about $45,000 ). That sum less an obligatory Foundation administration fee of 1% ( $4,500 ) enables the Class to provide supportive funding for the SANDHURST/MILITARY SKILLS TEAM and to the Bands ( RMC & CMR ) in accordance with our contract. That contract is executed in accordance with the Federal Endowment Fund regulations. These organizations, as well as the Commandant, are most appreciative of the Class of 1964 support. For calendar year 2017 the Class provided $4,200 to the Skills Team and $14,300 to the band and 2018 to date $5,600 to the Skills Team and $8,700 to the band. The band of 2018 is not the band of 1964. For more detail, after 1 Jun. see Class of 1964 website https://www.rmc1964.ca/
Next year is our reunion year and will present to you the opportunity to decide whether to continue or change our current benefactions. Between now and then is also a time for all classmates to do some soul searching to pledge funds to the Class Endowment as a way of saying thanks for the RMC contribution to your lifestyle.
THANK YOU FOR YOUR PAST SUPPORT AND FOR YOUR REINVIGORATED CONSIDERATION TO SUPPORT OUR CLASS ENDOWMENT FUND AND OUR BENEFACTION PROJECTS.
Cheers, Brian
Class of 64 Endowment | ||||||
Endowed | Restricted | Endowment | ||||
Memo | Funds | Funds | Total | |||
Balance as at 31 December 2014 | $331,013.04 | $117,643.98 | $448,657.02 | |||
Adjustments | ||||||
Sub-total | $0.00 | |||||
Benefactions | ||||||
Band | -$22,113.30 | |||||
Sandhurst | -$27,256.20 | |||||
Sub-total | -$49,369.50 | -$49,369.50 | ||||
Interest Attribution | ||||||
5% int attribution 2015 | $22,432.85 | $22,432.85 | ||||
Administration Fees | ||||||
1% admin fee 2015 | -$4,486.57 | -$4,486.57 | ||||
Donations to Endowment | ||||||
Sub Total | $5,220.04 | $5,220.04 | ||||
Balance as at 31 December 2015 | $336,233.08 | $86,220.76 | $422,453.84 | |||
Adjustments | ||||||
Return of prior years Benefaction funds | $7,042.02 | |||||
Sub-total | $7,042.02 | $7,042.02 | ||||
Benefactions | ||||||
Band | -$11,994.13 | |||||
Sub-total | -$11,994.13 | -$11,994.13 | ||||
Interest Attribution | ||||||
9.4% int attribution 2016 | $39,710.66 | $39,710.66 | ||||
Administration Fees | ||||||
1% admin fee 2016 | -$4,224.54 | -$4,224.54 | ||||
Donations to Endowment | ||||||
Sub Total | $5,120.04 | $5,120.04 | ||||
Balance as at 31 December 2016 | $341,353.12 | $116,754.77 | $458,107.89 | |||
2017 |
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Adjustments | ||||||
Return of prior years Benefaction funds | $3,987.87 | |||||
Sub-total | $3,987.87 | $3,987.87 | ||||
Benefactions | ||||||
RMCC Band | -$14,959.69 | |||||
RMC St Jean Band | -$8,000.00 | |||||
Sandhurst | -$4,365.21 | |||||
Sub-total | -$27,324.90 | -$27,324.90 | ||||
Interest Attribution | ||||||
9.73% int attribution 2017 | $44,573.90 | $44,573.90 | ||||
Administration Fees | ||||||
1% admin fee 2017 | -$4,581.08 | -$4,581.08 | ||||
Donations to Endowment | ||||||
Sub Total | $2,233.36 | $2,233.36 | ||||
Balance as at 31 December 2017 | $343,586.48 | $133,410.56 | $476,997.04 | |||
Adjustments | ||||||
Return of prior years Benefaction funds | $837.27 | |||||
Sub-total | $837.27 | $837.27 | ||||
Benefactions | ||||||
RMCC Band | -$8,720.47 | |||||
Sandhurst | -$5,641.77 | |||||
Sub-total | -$14,362.24 | -$14,362.24 | ||||
Interest Attribution | ||||||
Int attribution 2018 - TBD | $0.00 | |||||
Administration Fees | ||||||
Admin fee 2018 - to be applied Dec 31 2018 | $0.00 | |||||
Donations to Endowment | ||||||
Sub Total | $1,033.35 | $1,033.35 | ||||
Balance as at May 25 2018 | $344,619.83 | $119,885.59 | $464,505.42 |
Class of 64 Endowment Disbursements |
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2017 | Net | 2017 | Net | |||||||
RMCC Band | Funds Rtd | Benefactions | Sandhurst | Funds Rtd | Benefactions | |||||
2016 Overage | $ 735.64 | $ 735.64 | Uniforms | $ 3,685.70 | -189.48 | $ 3,496.22 | ||||
Drum Scrobh | $ 115.34 | $ 115.34 | Boots | $ 679.51 | $ 679.51 | |||||
Violin Repair | $ 281.00 | $ 281.00 | $ 4,365.21 | -$ 189.48 | $ 4,175.73 | |||||
Trumpet Lyres | $ 100.00 | $ 100.00 | ||||||||
Instrument Repairs | $ 1,080.00 | $ 1,080.00 | ||||||||
Dance Instructor | $ 450.00 | $ 450.00 | ||||||||
Music | $ 3,000.00 | $ 3,000.00 | ||||||||
Bugle | $ 745.92 | $ 745.92 | ||||||||
Pipe Maintenance | $ 2,610.00 | $ 2,610.00 | ||||||||
Dance Shoes | $ 1,780.00 | -374.53 | $ 1,405.47 | |||||||
Drum Core | $ 1,075.00 | $ 1,075.00 | ||||||||
Uniforms | $ 5,276.09 | -273.26 | $ 5,002.83 | |||||||
Band Fund Support | -$ 2,289.30 | -$ 2,289.30 | ||||||||
$ 14,959.69 | -$ 647.79 | $ 14,311.90 | ||||||||
2018 | ||||||||||
RMCC Band | RMCC Sandhurst | |||||||||
Brooches | $ 1,472.42 | Uniforms | $ 2,417.45 | |||||||
Uniforms | $ 4,248.05 | Boots | $ 3,224.32 | |||||||
Music | $ 3,000.00 | $ 5,641.77 | ||||||||
$ 8,720.47 |
(This article published with permission of "EVeritas"; it has been edited to fit our site.)
Military skills competition (aka Sandhurst Competition) at West Point
Classmates...without the support of Class of 1964 several years ago there might not have been a MILITARY SKILLS TEAM at the college. The team appreciates our continuing support.
RMC was the top international team out of 14; (1) RMC, (2) Sandhurst, (3) Chile. Second overall out of 64 – (1) USAFA, (2) RMC, (3) Sandhurst.
Impressive result for RMC team!
Article from various sources
2018 RMC team: More than 500 cadets from military academies and universities around the world competed in the 50th annual Sandhurst Military Skills Competition this past Friday and Saturday (13 / 14 April) on West Point.
The competition consists of 11 different events ranging from marksmanship to grenade throwing.
It tests individual and team military skills as well as leadership abilities and athletic proficiency.
Teams accumulate points during the rigorous competition and have the opportunity to earn up to 1,000 points throughout the course.
The competition originated in 1967 when the Royal Military Academy Sandhurst presented a sword to the U.S. Military Academy.
The inscription on the sword reads: “To provide the Corps of Cadets with a challenging and rewarding regimental skills competition, which will enhance professional development and military excellence in selected soldier skills.”
From then on for the last 49 years, an annual event has been held to do just that.
RMC has participated since 1997 and were also the overall winners in 2005; 06; 07; 09; and 16.
RMC team that competed at the 2018 Sandhurst Competition:
OCdt Adam Welsh – team Capt.; NCdt Gavin Omand – team 2ic; Élof Elise Thivierge; OCdt Andrew Haves; OCdt Andrea Beltramello; OCdt Michael Brownlee; OCdt Gabriel Kemp; OCdt Morgan Perigo; OCdt Eric Guevremont; OCdt Matthew Choquette; and OCdt Nick Bomers.
Team members who did not run in the competition, but were integral to success:
Élof Amélie Lefrancois; OCdt James App; OCdt Zachary Smith; and Élof Samuel Quenneville
With a special thanks to Élof Augustin Mirea for his ongoing support to all aspects of team training.
Finally, the time and mentoring put in by the coaches was the foundation on which this result was built:
Capt. Nicholas Payne; Sgt Chad Monaghan; and Mr. Tomasz Deren.
The Class of 1964 supports the ‘team’ every year through their Class endowment. This is administered through the RMC Foundation.
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4 May 2014
SANDHURST REPORT 2014
2014 Sandhurst Competition - Trials and Triumphs at USMA
By 26685 NCdt (II) Graham Mater
Over the past three months, the RMC Sandhurst Team has dedicated hundreds of hours in order to prepare for the Sandhurst Competition, an international military skills challenge that is held annually at the United States Military Academy in West Point, New York. The aim of our training is to provide us with the skills necessary to perform under pressure and adapt in challenging environments. The nature of this competition demands that we prepare for the unknown. Although the competition assesses the mastery of certain military skills, the organizers continuously include unknown elements in order to test the leadership and cohesion of each team. This year’s competition would prove as the the ultimate test for the 2014 RMC Sandhurst Team.
On april 6th, the RMC Sandhurst Team travelled to the United States Military Academy in order to spend several days preparing for the competition, which took place on the 11th and 12th of April. After liaising with our host company, I-4, the team spent some time getting to know the USMA campus. During a welcome brief presented by West Point’s Department of Military Instruction, the priorities of the competition were made very clear to us. Leader development was the primary goal, followed by the showcasing of military skills and excellence, the building of relationships, and lastly, winning. These tenets resonated throughout our time at West Point. We had the opportunity to interact with cadets and staff from Britain, Australia, Chile, Mexico, Germany, China, Nigeria, and all of the American service academies. In all, 58 teams competed in the competition, and the professionalism and competitive spirit of each team was apparent in this auspicious environment.
The days leading up to the competition gave us the opportunity to familiarize ourselves with the American equipment that we would be using, and also to train on the world-class facilities available at the USMA campus. We zeroed our rifles, spent time on the pistol range, and perfected our drills and procedures. Everything was coming together, but then two days before the competition, during training on the obstacle course, 26339 OCdt (III) Lizée landed awkwardly after jumping off an obstacle and sprained his ankle. When he landed, we all heard an audible “pop”, and after assessment from a medical team it was clear that he would not be able to run the competition. OCdt Lizée was our team captain, and with him out of the running, the second-in-command, 26099 OCdt (III) Otis would step up to lead the team, and we would have to sub-in one of our spares to round out the squad. Clearly, losing our team captain to injury was a major setback, but not one that we were unprepared for. During our training, we routinely mixed up the roles of each team member in order to become more adaptable. We had confidence in our training and our leadership, and knew we still had the potential to win the competition.
We awoke early on the day of the competition, and after breakfast and a final inspection of our kit, we were ready on the starting line. Before we stepped off, the team was greeted by friends, family, teammates, and staff, including our Commandant, BGen Meinzinger, the Director of Cadets, LCol Lemyre, the College Chief Warrant Officer, CPO1 Davidson, and our Sergeant-Major, MWO Rideout. Knowing that our chain of command and our friends and families were there to support us made it so much more meaningful and pushed us even harder to perform at our best. In the ensuing 32 hours of competition, Team Canada moved through 13 different stands and covered over a marathon’s distance on foot, in full kit with rucksacks, and represented Canada through hardship and adversity. Upon stepping off, one member of our team had already made history. 25928 OCdt (IV) Jarvis became the only cadet in the history of the RMC Sandhurst Team to run the competition in all four of his years at RMC. Various factors, including the demands of college life, injuries, and the rigours of training, have prevented other cadets from accomplishing this feat, but OCdt Jarvis’ steadfast determination and devotion to the team have been integral throughout his time at RMC, and we are very proud of his accomplishment.
On several of the stands, the Canadians were the team to beat. Team Canada employed the shooting skills they had developed at the CFB Kingston range and through training with the Canadian Special Operations Regiment at CFB Petawawa, and posted the overall best score on the rifle range. On the rope bridge, the 9 members of Team Canada forded the gap in three minutes and fifty seven seconds, which was three seconds faster than the organizer’s predicted best-possible time. On the land navigation portion of the competition, members of the RMC Sandhurst Team raced through the mountainous terrain of the West Point training area and achieved the third-highest score of the day. On the second day of the competition, after a night spent outside in the field, Team Canada kept setting benchmarks. On the 10-foot Ranger Wall and the weapons assembly under CBRN conditions, our team set the fastest time, receiving perfect scores on both stands. Team Canada also attained the “Gold” standard on our overall course time, the bivouac stand, which consisted of a timed “bug-out”, and the indoor pistol range.
By the end of the competition, all of the teams were tired, wet, dirty, and glad to be across the finish line. Once all of the points had been calculated, Team Canada sat in the rankings as the 3rd international team and the 5th team overall, sitting behind United states Corps of Cadets H-3, the People’s Liberation Army University of Science and Technology, Texas A&M, and the victors, Royal Military Academy Sandhurst Blue. Despite our successes, various mistakes throughout the competition compounded to cost us the crucial points that it would have taken to win. Our team trains to win, but despite losing our team captain two days before the competition, we still managed to post a world-class result and are proud of our accomplishments. We know that our training is working and we have confidence in our skills, and representing RMC and Canada at this international competition has made us even more grateful for the support we have received from the College, the RMC Foundation, and from our peers.
Being involved in the 2014 Sandhurst Competition was a great experience. It allowed us to test our skills, push ourselves, connect and build relationships with leaders from other militaries, and represent Canada and RMC abroad. The RMC Sandhurst Team is committed to excellence, and with the support from the College and the RMC Foundation, we will take the lessons we have learned during the 2014 Sandhurst Competition and apply them in our training to continue the legacy of excellence that our team has demonstrated over the last 17 years.
21 May 2013
CLASS of 1964 ENDOWMENT REPORT May 2013
ENDOWMENT FUND REPORT JUNE 2013
9 July 2012
The Core ENDOWMENT FUND grew marginally to $320,000 as at 31 Dec 2012 due to benefactions during 2012 from a dozen classmates.That core amount is retained intact until the Class determines otherwise.
I will not bother to restate the accounting technicalities as per my 2012 report. Suffice to say the FOUNDATION had a great investment year with 14% growth, thereby earning for our Class RESTRICTED FUND about $46,000 after Foundation fees. This resulted in a $67,000 balance from which to satisfy requests made on our SANDHURST commitment and then for the BAND. For the 2013-2014 academic year it is forecast that $17,000 would go to Sandhurst and about $15,000 to the Band to satisfy "a one-time benefaction of $14.5K for the purchase of sound and lighting equipment to be used for their concerts. Currently they have to rent this equipment each time they do a Christmas concert or a concert in scarlets".
Next year is our reunion year and will present the opportunity to decide whether to continue or change our current benefactions. It is also a time for all classmates to do some soul searching to pledge funds to the Class Endowment as a way of saying thanks for the RMC contribution to your lifestyle.
THANK YOU FOR YOUR SUPPORT AND FOR YOUR CONSIDERATION TO SUPPORT OUR CLASS ENDOWMENT FUND AND OUR BENEFACTION PROJECTS
Cheers, Brian
9 July 2012
CLASS of 1964 ENDOWMENT REPORT July 2012
THE CORE ENDOWMENT FUND GROWS MARGINALLY EACH YEAR AND I THANK THOSE WHO CONTINUE TO CONTRIBUTE TO THAT FUND AS IT IS THE ONLY MEANS BY WHICH IT WILL INCREASE. IT STANDS AT ABOUT $318,000. (In my February 2011 report I used the figure $332,000 which was a combination of our ENDOWMENT FUND and our RESTRICTED FUND whereas for this report and in the future I will separate these two entities).
INTEREST EARNED IN THE ENDOWMENT FUND IS DEPOSITED INTO OUR “RESTRICTED FUND” ACCOUNT FROM WHICH THE FOUNDATION DEDUCTS A 1% FEE BASED ON OUR ENDOWMENT TOTAL (CORE FUND + RESTRICTED FUND). THE BALANCE AVAILABLE IN THE RESTRICTED FUND IS SPENT BY THE FOUNDATION IN ACCORDANCE WITH OUR CLASS ENDOWMENT AGREEMENT WITH THE FOUNDATION. TO DATE RESTRICTED FUNDS HAVE BEEN SPENT ON OUR SANDHURST PROJECT AND THE RMC BAND.
FOR 2011, INTEREST OF ABOUT $9,000 WAS EARNED AND THE FOUNDATION FEE WAS ABOUT $4,000 RESULTING IN $5,000 GOING TO THE RESTRICTED FUND FOR OUR BENEFACTIONS. SANDHURST USED ABOUT $1,000 AND THE BAND $8,000.
FOR 2012, THE FOUNDATION, AS OF 6 JULY, HAS NOT ISSUED A 2012 FINANCIAL REPORT; HOWEVER, SANDHURST PROJECT HAS RECEIVED $21,000 FROM OUR RESTRICTED FUND. THE INTEREST EARNED ON OUR ENDOWMENT IS FORECAST TO BE A LITTLE LESS THAN WHAT IT WAS LAST YEAR.
OBVIOUS TO ALL THOSE WITH ARTS DEGREES IS THE FACT THAT ANNUAL BENEFACTIONS CAN “EXCEED” ANNUAL INTEREST. THAT’S BEEN POSSIBLE TO SUPPORT BECAUSE OF THE SURPLUS WHICH WAS CREATED IN THE RESTRICTED FUND WHEN OUR ENDOWMENT PROCESS BEGAN IN 2009. OUR LEVEL OF BENEFACTION, $30,000 OVER THE PAST 2 YEARS, IS NOT SUSTAINABLE.
WHEN OUR RESTRICTED FUND APPROACHES ZERO OUR ANNUAL BENEFACTION WILL EQUATE TO THE BASIC INTEREST EARNED MINUS THE FOUNDATION FEE. THAT BENEFACTION AMOUNT COULD REPRESENT MUCH LESS THAN WHAT SANDHURST MIGHT NEED ANNUALLY FROM NON-GOVERNMENT SOURCES. ANY SHORTFALL WILL BE MET BY THE RMC FOUNDATION PROVIDING FROM ITS GENERAL FUNDS OR PERHAPS BY OTHER CLASSES DEDICATING BENEFACTIONS TO SANDHURST. AS WE AGREED, MONEY WILL NOT BE TRANSFERRED FROM OUR CORE ENDOWMENT FUND INTO THE RESTRICTED FUND.
BECAUSE OF A LACK OF FUNDING, SEVERAL REPRESENTATIVE TEAMS ARE NO LONGER IN EXISTENCE AT RMC. THAT COULD BE THE FATE OF THE RMC SANDHURST TEAM.
CLASS DONORS CAN IDENTIFY TO THE FOUNDATION THAT THEIR DONATIONS ARE TO BE USED ONLY FOR THE CLASS SANDHURST PROJECT EITHER AS A NEW DONATION OR AS A REPLACEMENT DESTINATION FOR THEIR CURRENT ENDOWMENT DONATION.
THANK YOU FOR YOUR SUPPORT AND FOR YOUR CONSIDERATION TO SUPPORT OUR CLASS OF 1964 ENDOWMENT FUND AND OUR BENEFACTION PROJECTS.
Brian
25 August 2009
To: Members of the Class of '64
From: Brian Cameron (6164)
RE: Endowment Fund
If you don't read any further, let me encourage you to contribute to the Class of 1964 ENDOWMENT FUND prior to our October re-union. When making your donation please assign your contribution to a particular project or to the general Class of 1964 Endowment.
Thanks to your contributions our ENDOWMENT FUND has grown to nearly $250,000 and will generate about $10,000 annually in future years' interest.
The ENDOWMENT FUND itself is pretty much locked up under Canadian Revenue Agency laws, so, as a Class we are dealing with the gifting of the annual interest on the Fund.
RMC provided a priority list of needs, which is posted on our Class website, against which they would have us assign our annual interest. As a prelude to this year's reunion, a poll of 16 class members (representing about 70% of total donations) was taken, asking which projects they would support. Responses were varied but there were some common themes. Some preferred spending on people rather than bricks and mortar while others preferred the opposite. Generally, the members poled wanted to spend the interest rather than the capital in the Endowment Fund. They did not want to spend on "stuff" the government should provide for. They wanted a Project that could be identified with the Class of 1964. Some wanted to spend small amounts on several projects and some wanted to spend it all on one project. The Nijmegen Project was popular but it will likely be more associated with the Mendez family (who will support it as a memorial to their daughter) than it could be with the Class of 1964. Memorials/monuments were popular; however, there were comments questioning whether classes gifting these should pay for their ongoing maintenance or whether the government would. There was support for larger capital projects such as the library expansion; however, these are not well enough defined at this point in time and any expenditure of the Endowment Fund capital would reduce the annual interest received.
To date, some $27,000 in interest has accumulated in our fund, which by CRA rules has to be spent in 2009. The RMC Club asked that the Class of '64 set a good example for other classes by pledging this money to specific projects by 14 August so that the recipients could use this pledge in their planning cycle. Based on the above mentioned sample poll, a decision was arrived at by the Class of 1964 executive to gift the accumulated interest to the SANDHURST MILITARY SKILLS TEAM PROJECT and the BAND PROJECT in that priority.
At our 2009 reunion;
you will be asked to confirm that the annual interest continue to go to the SANDHURST PROJECT for the next 5 years, and,
to elect a decision-making committee of three to five persons that can work with the RMC Club until our next reunion (2014) to deal with endowment issues and assignment of funds (Jim Barrett {CMR}, Gord Stewart {RR}, Bob Harrison {RMC} would be a good start as committee members).
Representatives of the RMC Club/Foundation will attend our Class reunion to answer any questions related to the endowment subject.
As our time is very limited at the reunion, rather than wait for the October session, I would be pleased to compile your comments, in advance, to the two questions above as to which project(s) you would spend the interest on (if you don't concur with the recommendation) and whom you would like to have on the committee. You can, of course, change your mind in October. Send to: bcameron@cogeco.ca
Class of 1964 Endowment Agreement
DRAFT NUMBER TWO, MEMORANDUM OF AGREEMENT BETWEEN THE RMC CLUB OF CANADA FOUNDATION INC. AND THE CLASS OF 1964
PURPOSE AND OBJECTS The Class of 1964 wishes to set up its Class Fund within the RMC Club Foundation (hereafter called the "Foundation"), for purposes consistent with the objects contained in the Foundation's Letters Patent. Specifically, the Class wishes to provide funds in perpetuity necessary to support programs for the cadets that sustain the margin ofexcellence for which the College is famous.
AUTHORITIES The Class will appoint or elect a Class Fund Committee to request of the Foundation disbursements from their Class Fund. The Foundation does not have to verify Class-authorized representatives. The Foundation will follow its normal cheque approval procedures. The Foundation Board of Directors (hereafter called the "Board") will carry out relevant fiduciary responsibilities relating to all aspects of the Class of 1964 Fund.
INVESTMENT OF CLASS FUNDS The RMC Club Foundation Inc. will invest the Class of 1964 Fund as per the investment strategy approved by the Foundation Board of Directors. During the years 2000 to 2009 inclusive, the Class Fund will earn 5% per annum on the capital present in the Fund on the preceding 31 December. This return will be deposited to the Class Fund at the time of the subsequent year-end audit. The Class may, however, activate its endowment at any time. The interest-compounding benefit ends at that time. After 2009, the Class plans to disburse, for a purpose to be decided later, its 5% return on the invested Class Fund capital. The Foundation's annual fee for the Class of 1964 endowment is 1%. The Foundation will use some or all of the return on investment to support financially ongoing, under-funded Cadet Wing and College activities and needs.
STATUS AND SCOPE OF CLASS FUND The capital of the Class Fund is to be held in trust, as an endowment, for at least ten years. The Class may also make periodic donations to the College only from separate (non-endowed) Class contributions, subject to Revenue Canada's disbursement rules. All donations must be compatible with the Foundation objects set out in its Letters Patent, and may be subject to the agreement of the College. A broad range of projects qualifies, depending on the type of Fund set up: for instance, a physical gift to the College (statue, books, plane/ship/tank/bus); a scholarship; support to a pillar, team or activity; or cash. Since the Foundation is a Canadian registered charity, income tax receipts will be issued to each donor.
OPTIONS FOR CONTRIBUTING Class members may contribute by cash, cheque, credit card, or pre-authorized bank: transfer. A variety of pledging options is available. As well, bequests, stock and real property transfers, insurance policies, gift annuities, and other "planned giving" devices may be used by donors.
ACCOUNTING AND AUDIT The Class may, through its Class Fund Committee, request from the Foundation a balance and/or a summary of financial transactions relating to the Class of 1964 Fund at any time, on 30 days' notice. The Class Fund will undergo annual external audits, at the same time and in the same manner and fashion that the Foundation Audit Committee proceeds. The Foundation's financial year is currently 1 January to 31 December.
CHANGES TO THIS AGREEMENT Ninety days' notice to change or amend this agreement, consistent with Revenue Canada's regulations, would be required from either the Class or the Foundation.
10 January 2004
To: Members of the Class of '64
From: Brian Cameron (6164)
RE: Endowment Fund
Hopefully this will be a year wherein many class members will check out this site. During the Winfield era I was discouraged from stating the valuation of our Fund. That era ended somewhat abruptly so I can state the Fund sits at $41,780; or, about $200,000 less than where I would have liked to see it at the half way point of our gifting period. It continues to be that a few donors have contributed the vast majority of the funds and the number of donors remains far short of those who made pledges to donate prior to formally starting this campaign. Again, sincere thanks to the contributors to date.
There is a list of wants and needs, which will never receive DND funding, along with their rationale, available from the College and which is kept up to date and forwarded to all Class secretaries. The College has instituted a Strategic Planning Officer in the Senior Staff who is developing a 10 year plan for development. Our donations as Ex Cadets are an essential part of this whole process.
If you have any comments or suggestions, please send me or any of the committee members, an email.
Brian Cameron
3 December 2001
To: Members of the Class of '64
From: Brian Cameron (6164)
RE: Endowment Fund
The growth in our Endowment Fund over the past year is encouraging; however, unless we get a burst of enthusiasm over the next few years we can’t reach our goal of making a SIGNIFICANT contribution to the College when we enter the Old Brigade. The pledges received from a high proportion of the class were most heartening; yet, if you have looked at the Joe Pope memorial pictures, there were more people in attendance (almost) than have contributed to our endowment fund. To date, a few donors have contributed one-twentieth of our target. Certainly the number of actual donors is far, far short of those who made pledges prior to formally starting this campaign. Let me extend a hearty thanks to the contributors to date and to those who have made pre-authorized continuing donations. For those who have not yet got around to a commitment let me repeat that the sooner we translate concepts to cash, the better our chance of a successful campaign.
The various techniques on how to contribute were contained in the September 2000 letter, which probably follows this on the web site. Full details can also be obtained by sending an email to the RMC Foundation or a committee member.
Several classmates have said they will not participate because it is their personal protest to demonstrate that they don’t approve of today’s RMC. While these are personal views and therefore just about impossible to argue against, the endowed projects should be well removed from the politics of RMC. If we are to attain our class objective then we all have to see this campaign as a Class effort not a personal one.
Selfishly, I suggest that we need someone who has done particularly well financially to provide a dramatic challenge for the rest of us. While it is typical of these types of campaigns to rally in the final stages, it would be great to be beyond the 50% attainment level for our next reunion (2004).
If you have any comments or suggestions, please send me, or any of the committee members an email.
Brian Cameron
9 September 2000
Date:September 3, 2000
To: Members of the Class of '64
From: Brian Cameron (6164), George Bruce (6090), Ralph Lamoureux (6190), Ron O'Donoughue (6197), Bob Reid (5998), Richard Ruel (6062) & Gordon Stewart (6209)
RE: Endowment Fund
We hope everyone had a good summer and those golfers amongst us got in a few rounds. As you remember, we decided to contribute to an endowment fund so that we could make a significant contribution to the College when we enter the Old Brigade. The pledges received from a high proportion of the class were most heartening. Nevertheless, the sooner we translate concepts to cash, the better our chance of a successful campaign. For its part, the RMC Foundation has given us the best possible terms under which to grow our class fund, including six years of compound returns on our capital.
Some of you have already initiated monthly contributions to the Class Fund. However, most of you indicated that you would make annual donations. We suspect that most of you will do this near the end of the year to minimize the time delay between your contribution and your tax refund. However, we thought that we would send a reminder now as we tend to get busy around Christmas time and some of us may forget. In fact, we would suggest that you send in your pledge and your contribution now and post date your cheque, if you wish, so that you don't forget.
You may have erased the forms sent last winter, so they are available by link below.
The last issue of Veritas highlights that some of our classmates are starting to appear in the donor's list. Also, our Class appears in the Principal's Circle (donations of $25,000 to $49,999). We should note that the Classes of 1963 and 1968 have given between $50,000 and $99,999, while the Classes of 1965 and 1969 have given over $1,000,000. So, our contemporaries have set a high standard. We intend to provide a dollarized how-goes-it at the next class reunion in 2004, or in answer to individual inquiries. The classes of 53, 54 and 65 each have one or more of their classmates offer to match the contributions of their other classmates. IS THERE SOMEONE IN OUR CLASS PREPARED TO ADOPT OR DISCUSS THIS APPROACH?
Forms are available to enable you to donate in a variety of ways. If you want to make a donation by credit card, either phone in the details to the Foundation (1-888-386-3762) or mail or Fax in the completed form.donor coupon If you want to donate by automatic bank transfer, fill out both forms electronic bank form, and mail them to the Foundation. You should include a "Voided" cheque and, for those initiating monthly contributions, a cheque for the first months donation. The Foundation will issue Tax Receipts annually for your total annual contributions (due to a reciprocal tax treaty between Canada and the USA, your donation can be used in the USA). In all cases mark your contribution "Class of '64 Fund". When considering your donations, remember that donations to all your charities combined that exceed $250 in any tax year qualify for the highest available tax credit. Also, the sooner you donate, the larger the fund will become through compounding. Please send a copy of your pledge to Gordon Stewart (this will be kept confidential).
The Committee member in your area may be contacting you shortly. They can probably answer most of your questions. If not, then feel free to contact either Brian Cameron , 613-384-1759; or Gordon Stewart , 780-998-5302; or the Foundation (rmcclub@rmc.ca, or 888-386-3762).
We have had an excellent start to our campaign with an outstanding response to our e-mails and with the generous pledges of our classmates. Together, we can reach our goal. Take your revenge out on Revenue Canada by donating generously to the class endowment.
Yours sincerely
The Committee
22 January 2000
Class of '64
Date: January 19, 2000
To: Members of the Class of '64
From: Brian Cameron (6164), George Bruce (6090), Ralph Lamoureux (6190), Ron O'Donoughue (6197), Bob Reid (5998), Richard Ruel (6062) & Gordon Stewart (6209)
RE: Endowment Fund
At the recent RMC Reunion, we had a class meeting to discuss creating an Endowment Fund. The Foundation has always funded items that the government would not support, but that the Ex-cadets thought were important, such as: ? Scholarships for RETP Cadets ? No interest loans to those cadets repeating a year ? Various other items that the College had requested and the Foundation Board approved.
In the past, these gifts were made to all three Colleges. In addition, most graduating classes would make a gift to the College at their 5-year reunions.
With the cutbacks in government funding, the College needs even more support so that they can continue to offer quality education to to-days cadets. The alumni of most universities and the US Military Colleges support their Alma Matter with substantial donations.
A few of us volunteered to canvas the members of our class (including everyone that started and/or ended with us) to determine the following:
Do we favour a long-term campaign so that we can make a significant gift to the College at the time we enter the Old Brigade or do we favour a short-term campaign to fulfil a more immediate need?
How much money can we raise?
Do we establish our endowment within the Foundation or separate from it?
What do we give to the College?
When do we enter the Old Brigade?
Because we have e-mail addresses for 158 members of our class, the committee decided that it would save time and money if we only surveyed those classmates with e-mail regarding these questions. Since we only have 251 addresses for the 372 cadets that started with us or graduated with us, we thought that the answers we got would represent the feelings of our classmates that we are able to contact.
As of today, 107 have replied to the e-mails and a further 8 have responded to phone calls from committee members. 69 classmates have favoured the Ten Year Campaign and 52 of those have already pledged $169,900. An additional 8 classmates are in favour of a short-term campaign to provide immediate assistance. 28 are not interested in either (several of these include classmates that started with us, but graduated with the Class of '65 or, classmates that did not graduate). 10 more are still considering their options.
Since we have heard from 45.8% of our classmates that we know how to reach, it is clear that the majority favour a long-term campaign. Based on the pledges made to date, we should be able to raise at least $250,000.
As other classes entering the Old Brigade are also undertaking major fund raising projects (for example, the Class of '53 raised $90,000 in six months), hopefully those entering the Old Brigade ahead of us will look after any major needs that must be filled in the intervening years.
The discussions that we have had (mostly Brian Cameron) with Barry Winfield, and the time involved, along with the complexity of setting up our own Endowment Fund outside the Foundation, have led us to conclude that it is best to work within the Foundation. Once the agreement is in place, we expect to control the use of 80% of the money earned by the funds accumulating in our Class Endowment.
Those classmates that want their donations to go towards immediate needs may want to add their contribution to the moneys that we have to spend each year from the income earned by the funds donated. We will try to advise you of the program that we have selected each year as soon as possible. There is a priorities committee, consisting of Cadets, College Staff and the Foundation, that creates a list annually. Mark these donations with the "Project" as well as "Class of '64".
Forms are enclosed to enable you to donate in a variety of ways. If you want to make a donation by credit card, either phone in the details to the Foundation (1-888-386-3762) or mail or Fax in the completed form. If you want to donate by automatic bank transfer, fill out both forms and mail them to the Foundation. You should include a "Voided" cheque and, for those initiating monthly contributions, a cheque for the first months donation. The Foundation will issue Tax Receipts annually for your total annual contributions (due to a reciprocal tax treaty between Canada and the USA, your donation can be used in the USA). In all cases mark your contribution "Class of '64 Fund". When considering your donations, remember that donations to all your charities combined that exceed $200 in any tax year qualify for the highest available tax credit. Also, the sooner you donate, the larger the fund will become through compounding. Please send me a copy of your pledge (this will be kept confidential).
The Committee feels that it is too soon to decide how to use our Endowment. The College has a Needs and Priorities Committee consisting of seven Officer Cadets, the Executive Director of the RMC Club (Barry Winfield), and some staff members. They meet periodically to create a list of projects and activities that neither the current budget nor Non-Public Funds cover. They submit their prioritized list to the Foundation Board of Directors. The following is a list of projects and activities recently funded:
Meighan Family Foundation donation of $120,000 to rebuild the Rifle and Pistol range to modern competitive standards.
RETP Scholarships. $2500 1st year, $500 each succeeding year if maintaining minimum 70% academic and C+ ("above average") military rating.
No-interest loans ($2000) to 16 repeaters in 1999.
$4000 Women's Rugger, one of the fastest growing sports in Ontario (2 donors).
$5000 seed money for first annual Birchall Cup Competition, although eventually this international competition for officer cadet aircrew from military academies was self-supporting.
Wrestling team $1000 for protective headgear and boots. Cadets contributed $4000 for other equipment, tournament fees, and travel costs.
$3500 for biathlon team for falling-target mechanism and stopwatches.
$300 to Drama Society.
$3000 to support Model UN sessions.
$1000 for 3 AERE engineering cadets to visit Boeing plant. Engineering Dept paid $500, and cadets contributed $2000.
$60,000 seed money to organize the first annual Canadian Conference on Ethics and Leadership, a joint project between RMC, Queens, and the RMC Foundation. The third conference is in February 2000. This money was recovered from corporate sponsorship and fees, and a start-up fund established for subsequent conferences.
It is expected that requests for academic wing projects will increase, since most of their budget for trips, visits and conferences has been cut in favour of the basics. They are actively seeking research and development grants, particularly in Science and Engineering to upgrade lab equipment, thus benefiting the undergraduate programs as well. R&D funding does not come from undergraduate programs.
Of interest, to show how budget cuts have affected the basics, RMC's Library operating and maintenance funding is 3.6%. Other Canadian universities (not offering medicine) offering Post Graduate degrees vary from 7.62 to 5.38%. RMC is also at the bottom of the list of those offering only undergraduate degrees. The closest to RMC on this list is the University College of Cape Breton at 3.98%. The Class of 1956 is setting up an $80-$100,000 library endowment for a leadership and ethics collection.
When the time comes to decide, we want to leave a Class of '64 legacy that will be identifiable for many years.
The Committee member in your area may be contacting you shortly. They can probably answer most of your questions. If not, then feel free to contact either Brian Cameron (bcameron@kingston.net;or 613-384-1759), or Gordon Stewart (ggstewar@telusplanet.net; or 780-998-5302), or the Foundation (rmcclub@rmc.ca; or 888-386-3762).
As an aside, we have sent a letter to the Executive Committee of The RMC Club to ask permission to enter the Old Brigade as a class in 2009. This was discussed at their meeting last November. Jim Barrett attended on our behalf. The following points were raised:
We wish to enter as a class
We wish to enter in a reunion year
We want to identify the entry to the Old Brigade as a milestone for gift-giving purposes.
These points were well and sympathetically received. However, the current constitution defines an entry point for individual members (not classes) as fifty (50) years after entry and age 68 for non-graduates. John Leggat will send a letter to the Secretaries of the affected classes, seeking their opinions on whether an amendment to the constitution, to allow classes to enter as a group forty-five (45) years from graduation, is desirable. If the amendment has not been made by our 40th Reunion, we can discuss it further then.
We have had an excellent start to our campaign with an outstanding response to our e-mails and with the generous pledges of our classmates. Together, we can reach our goal. Thank you for your consideration.
Yours sincerely
The Committee
23/01/00 1
21 October 99
Message from: Brian Cameron (6164), George Bruce (6090),Ralph Lamoureux (6190), Ron O'Donoughue (6197), Bob Reid (5998), Richard Ruel (6062) & Gordon Stewart (6209)
re: Endowment Fund
At the recent RMC Reunion, we had a class meeting to discuss creating an endowment fund. With the cutbacks in government funding, the College needs our help so that they can continue to offer quality education to to-days cadets.
A few of us volunteered to canvas all members of our class (including everyone that started and/or ended with us). We want to find out if there is a general consensus regarding establishing an endowment fund so that we can make a significant gift to the College when we enter the Old Brigade (we are seeking approval to enter the Old Brigade in 2009 as a group i.e. our 45th Reunion) or whether the majority want a short term objective. Once we establish the majority opinion and determine the amount to be raised, we can consult the College and the Foundation for a list of gifts to choose from.
We are currently investigating the pros and cons of establishing our endowment within the Foundation or separate from it. If we choose to donate directly to the Foundation and if the goal of our fund raising is at least $250,000, then we can direct how any income earned by our contributions is spent (otherwise, the Foundation Board will decide). In either case, a receipt will be issued directly to you for tax purposes, and all donations will be applied towards your lifetime contributions to the Foundation.
The Foundation recognizes lifetime contributions with a pin in the shape of the Arch. The categories are: $1,000 to $4,999; $5,000 to $9,999; $10,00 to $24,999; $25,000 to $49,999; $50,000 to $99,999 and $100,000 plus. The pin designs are the same, but the value of the pin increases with each category.
If we choose to raise funds over a 10-year period, and if we can average $500/year for at least 100 classmates, then we can set our objective at $500,000. We had 330 cadets start and/or finish with us. We have addresses for over 200 classmates and approximately 75 to 80 attended this reunion. If we all participate within our means, we can make a significant contribution.
Please indicate your preference:
A major 10 year fund raising campaign to provide the College with a significant gift when we enter the Old Brigade _______, or
A short term (one-year) campaign to provide immediate financial support ______.
Please indicate your preferred method of giving:
Monthly donation of $______ by credit card or automatic bank transfer.
Annual donation of $ _______, or
One time donation of $ _______ to be made _________.
Please respond by 22 Nov '99 so that we can let you know the majority response regarding time frame, and our projected target in time for you to make a donation in 1999 should you choose to do so. (Alternately, you may wish to make your 1999 donation to the Jack Lott Memorial Fund and start next year on the Endowment)
Your response can be in the form of a/yes or b/yes… and c or d or e, followed by the amount. That will give us the immediate data we need for now. Your responses will be kept confidential. Only the summary of all the responses will be conveyed to the rest of the class.
Thank you for your consideration.
Yours sincerely
The Committee