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Published on Monday, August 1, 2011

ARPAS Foundation Report

Darrell Johnson, Chairperson, and Kenneth Cummings, Exec. VP

The purpose for the ARPAS foundation, established in 2008, is to provide a funding source for educational efforts and developmental activities of members independent of the ARPAS annual budget. 

The Foundation has tax exempt status under the charter of ARPAS and is able to accept gifts and grants that are tax deductible from its members and supporters. Only the earnings from assets directed to the ARPAS Foundation can be used for the above purpose.

The ARPAS Foundation currently has $64,600.87 in assets (invested 75% in fixed income securities and 25% in equities which is consistent with the investment policy associated with other ARPAS). The annual income from these assets has now reached an amount that is sufficient to initiate funding of activities consistent with the purpose for the Foundation.

Past-President Braman recently appointed the following ARPAS members to serve on the Foundation’s Governing Board: Marit Arana, Bill Braman, Moe Bakke, Dale Hill, Randy Shaver and Kenneth Cummings. Darrell Johnson has served as the initial chairperson of this Board.

The Governing Board will have the responsibility for:
a. Developing and coordinating the fund raising efforts of the Foundation.
b. Recommending and overseeing investment of the funds of the Foundation.
c. Providing guidelines for the expenditure of earning from the Foundation consistent with the stated purpose for the Foundation and review proposals from members for worthy projects. 
d. The Executive Vice-President shall be the moderator for the Governing Board but have no voting privileges.

We encourage you to submit ideas for use of the Foundation’s earnings and to consider an annual donation to the Foundation.
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