In our continuing effort to improve communications between the Trustees of the Foundation and members of the Class, this is the third of regular Newsletter communications to all Classmates. After this edition, it will be circulated only via email and posted on the Class website. If for whatever reason you still wish to receive a copy via “snail mail”, please write with that request to:  

 

Mr. David Puckett

     5051 Chatham Valley

    Toledo, OH 43615

 

LEVY CENTER

 

Our Class stands out as the first, as a Class, to commit major support to this exceptional Academy project. We were followed by the Class of 1951, and are the only two classes memorialized as such in the donor inscriptions at the facility.

 

Dedication of this facility is scheduled for September 18, 2005, and the Class will be represented by our Class President, Spence Johnson, with other generous members of the Class who made individual contributions also in attendance.

 

CHAPEL FLOWER FUND

 

At the instigation and suggestion of Classmate Bob Harper, the Foundation has endowed a fund to provide flowers for the Chapel services each year on Parent’s Weekend. Appropriate recognition to our Class will be provided in the literature for the services conducted on that date annually. Bob was also the major donor for this project.

 

CLASS OF 1963 CENTER FOR ACADEMIC EXCELLENCE

 

We have successfully completed our fund raising activities and the Class of 1963 Center for Academic Excellence is running a remarkably successful program! All reports are that it is accomplishing its intended goal of assisting midshipmen with various academic difficulties such that retention rates have increased, with fewer students “bilging out.” This was our keynote “legacy” project for the 40^th reunion and was completed as programmed. A reminder: if you have an outstanding pledge for this project, please satisfy that pledge as committed. Thanks for your support!

 

 FINANCIALS

 

Your Class Foundation presently has a net worth of approximately $478,000, as reflected on the financial statement below. The liabilities are those of funding to completion the scholarship grants to which we are already committed. We operate on a calendar year basis and the operating performance is for the first quarter.

 

 

 

 

 

U.S. NAVAL ACADEMY

CLASS OF 1963 FOUNDATION

 

31 MAR 2005

BALANCE SHEET

                            

ASSETS                                                   

Checking Account                           $ 9,590

Pledges Receivable                         52,376 *

Schwabb (at market)                        498,670

                                                         

TOTAL ASSETS                                      $560,636     

                                                         

LIABILITIES                

 

Scholarship Commitments:

Brodie, Rory Swinburne $ 14,000

Doughtie, Carl II                        16,000

King, Kathleen                           4,000

Macklem, Julie-Ann                       8,000                   

Peyton, Sherry                           12,291

Pfeiffer, Daniel (Moran)                 8,000

Rohrbach, Sarah                          16,000            

Trani, Christopher                       4,000

                                           $ 82,291

                                                                

TOTAL LIABILITIES                                 (82,291)

 

NET WORTH                           $ 478,345

                                    =========

 

*Per information supplied by NAF

OPERATING STATEMENT

                                                                       

INCOME

                                                         

Donations (direct)                         $ 2,096              

Donations (via NAF)                        20,500

Investment Account/Schwab                  2,458      

Checking Account/Interest                  4                                                                                             

TOTAL INCOME                                      $ 25,058

 

                                                                

EXPENSES

 

Scholarships & Memorials    $ 737      

Levy Chapel Fund (2004 collections

Paid to NAF in 2005)                            6,263

Administrative Expenses (stationery, bank

charges, printing, postage, mail expenses,

meeting expenses and fidelity bond

insurance)                                1,589

                                   

                                                                       

TOTAL EXPENSES                                    (8,589)    

             

       NET INCOME (LOSS)                          $ 16,469

                                                  ========

           

 

 

 

GOVERNANCE

 

Two vacancies on the Board of Trustees are slated to be filled for three year terms commencing on 1/1/06. These vacancies occur as the consequence of two present Trustees, Larry Marsh and David Robinson, ending their terms.

 

Serving as a Trustee requires a commitment of both personal time and resources. The Board meets three or four times each year, usually in the Annapolis/Washington DC area, with one winter meeting usually in Aspen. The expenses for attending are borne by the individual Trustees. 

 

The Nominating Committee invites classmates to contact them with expressions of interest in being candidates for these two vacancies.

 

Expressions of interest should be directed to:

 

VADM David B. Robinson USN (Ret)

12143 Elysian Court

Dallas TX 75230

d-grobinson@comcast.net

 

OR

 

Mr. David Puckett

5051 Chatham Valley

Toledo, OH 43615

dpuckett@buckeye-express.com

 

Please contact one of these gentlemen before July 31^st if you are interested in serving as a Trustee. 

 

CURRENT ACTIVITIES

 

The Foundation Trustees, at their Spring meeting in May, have determined to “sunset” the foundation at our 50^th anniversary in 2013. It is the sense of the


Trustees that we will have fulfilled our intended mission by that date, and will apply the corpus then available to a suitable gift to the Academy at the 50^th reunion. This gift will be announced at our 45^th reunion in 2008 and a fund drive initiated at that time so that the project will be completed for the 50^th anniversary presentation. Certainly, this is a very preliminary “sense of the Board” and many details need to be worked out, but this is the general direction of your Foundation at this point.

 

DRESS BEST!

 

We continue to have a good stock of 1963 four-in-hand ties, bow ties and cummerbunds, as well as lovely silk scarves for your ladies. All are done in the Class pattern of regimental stripes designed exclusively for our use.

 

Ties (both styles), scarves and the cummerbunds are $63 each, but a discount is offered for orders of more than one article - any three at a price of $175, or all four for $235.

 

Please be specific when ordering.

 

Order by sending a check made payable to Class of 1963 Foundation and mail to:

 

Ms. Maribeth Delfs

Lowe Enterprises

P.O. Box 12393

Aspen, CO 81612