FLYING  MIDSHIPMEN                      
                 

July 10, 2013

 

Dear Former FMA Member:

Good news! Our Flying Midshipmen Youth Aviation Training Program aboard the USS Midway Museum is a huge success.  Midway’s President and CEO, Rear Admiral Mac McLaughlin, USNR (Ret.), has honored Midway’s commitment to continue the program this year even in the face of sequestration leaving a shortfall of funds from Washington.  Midway has graciously picked up the additional $8000 cost of doing so. Thanks to Joe Reyes, his added cash contribution of $5000 this year made that possible.

            Our contributions to the Flying Midshipmen Endowment Fund, administered by the San Diego Foundation, totals a little over $300,000.  Most of that is in the form of cash contributions from our members even in the absence of any donation from about fifty percent of you.  Heed the numbers.  If the so-far-non-contributors could afford $500 apiece, we’d reach our goal overnight.  It’s the yearly interest from the FMEF that funds our program.  The FMEF requires a minimum of about $500,000 to provide sufficient money to keep our namesake program alive in perpetuity.

            Since cash contributions have slowed there remains the legacy gift.  Three of your former Board of Directors, Busse, Mantz, and Kriser, have committed over $100,000 to the FMEF in their estate planning.  It is our hope that more of you will do the same, hence the enclosed material.

            A legacy contribution from you will be noted on the Midway’s Donor Board in the hanger bay.  If we go over the top, terrific!  Midway is prepared to expand the training program, offering greater opportunity for more young aviation enthusiasts.

            If, by chance, you are one of those who have already arranged your estate to include a donation to the FMEF, we need to know that. Please contact Jim Eckel at the phone number or e-mail address below so that we can be aware of your generosity.

            The Planned Giving departments of the Midway and the San Diego Foundation are available to steer you in the proper direction.  They are:

            James Eckel, CFP                                                      Karen Begin
            Director of Planned Giving                                       Associate Vice President, Charitable Giving                        USS Midway Museum                                                          The San Diego Foundation
            910 N. Harbor Drive                                                  2508 Historic Decatur Road, Ste. 200
            San Diego, CA  92101                                                San Diego, CA  92016
            (619) 398-8237                                                          (619) 814-1325
            jeckel@midway.org                                                   karen@sdfoundation.org

Let's keep your name and the name “Flying Midshipmen” alive in perpetuity!

 

Lou Kriser                                                                                                                                         Roy Mantz
Former FMA President                                                                                  Former FMA Executive Director                                               

                      
600 Cabrillo Avenue, Coronado, CA 92118     Telephone:  (619) 435-1628      E-mail:  rmantz@san.rr.com
  Web Site:  www.flyingmidshipmen.org

 

Endowment Fund Fundamentals

What is an Endowment?
Simply put, to endow, bequeath, or bestow a gift of money or income producing property to a fund (an endowment fund) for a specific purpose or investment in the future of a worthwhile project; in this case, the Flying Midshipmen Youth Aviation Training Program.  A gift, to our fund, the Flying Midshipmen Endowment Fund, will provide an expanding source of stable funding that will be used to ensure that one long-standing purpose of the Flying Midshipmen Association is continued in perpetuity; that is, to "support the education of America's teenagers in aviation, encouraging them to seek careers in aviation."
How does an Endowment Work?
Money invested in an endowment (the "Principal") is never spent.  Only the interest on the investment is available for use, and even the interest is governed by a spending policy restricting the amount of interest that can be taken each year—in our case 5%.  Any remaining interest income (above 5%) is put back into the fund to allow it to grow.
Why was the Flying Midshipmen Endowment Fund created?
As stated, our fund was established to provide in perpetuity the funds required to support the Flying Midshipmen Youth Aviation Training Program conducted by the Education Department aboard the USS Midway Museum in San Diego, California.
Who gives to our Endowment?
You do.  And people like you who support the purpose of providing training in the fundamentals of aviation to the young aviation enthusiasts of our day.  And, those of you who desire to see the Flying Midshipmen legacy and name continued in perpetuity.
What types of gifts can be made to our Endowment and which one is right for me?
Be it a cash donation or a bequest from your estate, these donations are often made out of one's assets, such as a sale or transfer of a stock, withdrawal from a retirement fund, transfer of a cash-value life insurance policy, charitable gift annuity, or other financial vehicle.
All donations to the Flying Midshipmen Endowment Fund are tax deductible.  And, one might be capable of giving at a higher level once you factor in the tax benefits.  Also, many companies sponsor matching gift programs that double or triple charitable contributions made by their employees.

How can I donate to our Endowment Fund?
We are fortunate in having the expertise of the Development Department aboard the USS Midway Museum as well as the Planned Giving consultants from the San Diego Foundation available to help you, your lawyer, or financial planner in finding the giving option which works best for you and your unique financial situation.  Please contact:
            James Eckel, CFP                                             Karen Begin
            Director of Planned Giving                             Associate Vice President, Charitable Giving 
            USS Midway Museum                                     The San Diego Foundation
            910 N. Harbor Drive                                       2508 Historic Decatur Road, Ste. 200
            San Diego, CA  92101                                     San Diego, CA  92016
            (619) 398-8237                                               (619) 814-1325
            jeckel@midway.org                                        karen@sdfoundation.org

Click on the link below to see a two page brochure explaining the benefits of a Charitable Gift Annuity.

           
Charitable Gift Annuity - FMEF
                                                   


Home