VOLUME III, ISSUE 1                                                                PAGE 1


In our continuing effort to maintain good communications between the Trustees of the Foundation and members
of the Class, this is the fifth of regular Newsletter communications to all Classmates.





As previously reported, we have successfully completed our fund raising activities and the
Class of 1963 Center for Academic Excellence is running a remarkably successful program!
Academy staff report 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 40th anniversary.
We continue to monitor the Center’s operations and to consult with staff on maximizing its value.


A reminder: if you have an outstanding pledge for this project or
the Class Foundation, please satisfy that pledge as committed. Thanks for your support!




Your Class Foundation presently has a net worth of approximately $509,000, 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.









31 MAR 2006




Checking Account                           $ 5,933

Pledges Receivable                         34,838 *

Insurance Policy                           14,869

Schwabb (at market)                        516,212


TOTAL ASSETS                                      $571,852     




Scholarship Commitments:

Brodie, Rory Swinburne $ 10,000

Doughtie, Carl II                        14,743

King, Kathleen                           3,000

Macklem, Julie-Ann                       4,000                   

Peyton, Sherry                           10,743

Pfeiffer, Daniel (Moran)                 4,000

Rohrbach, Sarah                          16,000            

                                           $ 62,486


TOTAL LIABILITIES                                 (62,486)


NET WORTH                           $ 509,366


*Per information supplied by NAF





Donations (direct)                         $ 3,483              

Donations (via NAF)                        7,500

Investment Account/Schwab                  6,886      

Checking Account/Interest                  4                                                                                      

*Susan Alitt #545

*Jack Karson #513


TOTAL INCOME                                      $ 17,873





Scholarships & Memorials    $ 1,503      


Administrative Expenses (stationery, bank

charges, printing, postage, mail expenses,

meeting expenses and fidelity bond

insurance)                                2,666



TOTAL EXPENSES                                    (4,169)    


       NET INCOME (LOSS)                          $ 13,704






Three vacancies on the Board of Trustees are slated to be filled for three year terms commencing on 1/1/07. These vacancies occur as the consequence of present Trustees Ron Klemick, David Puckett and Chuck Stone ending their terms. One of these vacancies is filled by appointment of the Class President. The other two are elected at large.


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 elsewhere, usually in Aspen, Colorado. 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 the two elected vacancies.


Expressions of interest should be directed to:


VADM David B. Robinson USN (Ret)

12143 Elysian Court

Dallas TX 75230




Stuart W. Settle, Esq.

511 North Boulevard, Apt.8

Richmond, VA 23220-3340




Mr. William L. Howard

P.O. Box 475

Irvington, VA 22480




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




The Foundation Trustees, at their Spring meeting in April, further discussed the “sunsetting” of the Foundation at our 50th Reunion in 2013.

As reported earlier, a majority of the Trustees feel that we will have largely satisfied the major purpose of the Foundation (scholarships for children of deceased Classmates) and should apply the corpus then available to a pre-determined use, such as a suitable gift to the Academy at our 50th reunion.


There was considerable alternative opinion, however. The alternative view is that the purpose of the Foundation, as chartered, is to “memorialize the USNA Class of 1963” and that mission is as compelling today as it has been for the some 32 years since the Foundation was established. Thus, consideration should be given to maintaining the Foundation as a continuing enterprise beyond 2013.


Those who favor closing down the Foundation in 2013 suggest that the remaining 7 years be devoted to satisfying our existing scholarship grants to completion and focusing in the next few years on distribution of the corpus in 2013 to uses such as the Class Gift at the 50th, seed money to the Class of 2013 to assist them in organizing a foundation, or transferring the corpus to the Naval Academy Foundation (NAF) with whatever gift qualifications are decided at that time.


The alternative of continuing the Foundation into the future also calls for finishing existing scholarship grants, offering no (or very selective) new scholarships that will run beyond 2013.

Consistent with this approach, Foundation activities would then be guided by the charter purpose of memorializing the Class. Management and control would be transitioned to the Class of 2013 ( our “Link in the Chain”) at some point in the future, if they so choose, or to some other entity as appropriate in time.


Either option is available, though continuation beyond 2013 may be more complex and the first option cited is a clean “wrap up” of our very worthy efforts of 40+ years. In the final analysis, the trustees would like to make this important decision with input from Classmates.


Please mail or email your comments to:


Mr. David Puckett

5051 Chatham Valley

Toledo OH 43615


Let us hear from you as to your thoughts and preferences!




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. Dawn Storm

Lowe Enterprises

P.O. Box 12393

Aspen, CO 81612