Jim Sullivan SENDS:
29 August 2021
Brothers,
We just had a meeting of the class leadership committee. It was a good meeting, no drama, lots of discussion. The eight class officers were there: John Connors, TJ Young, Bill Cater, Frank Monaco, Charlie McGee, Steve Strom, Barney Forsythe and myself. The five class committee chairmen were there: John Van Vliet, Kurt Reineke, Steve Wilson, Bill Taylor, and Gil Harper. Two of their deputies were there: Billy Malkemes and Billy Joe Alexander.
Each of these men gave a report. None of the things we handle are going to shake the ground, but they are part of the life and operation of our class, so they have meaning for us.
Each of these men gave a report. None of the things we handle are going to shake the ground, but they are part of the life and operation of our class, so they have meaning for us.
No big problems. Slow but steady progress is happening on their initiatives, all aimed at consensus, cohesion and inclusion. The committee unanimously approved the charter for Gil Harper’s Special Ops Committee, and Billy Malkemes, chairing its Awards subcommittee, laid out some plans in the works--- more later on that. Bill has some interesting things lined up.
John Van Vliet and his large committee are working to determine what the best way is to meet the needs of our widows, widowers and children and grandchildren, in a way that is sensible and sensitive. He will get to the right answers. Important.
Our finances continue to be in order, in the black with a healthy prognosis. Bill Cater’s report is concise and clear. It is appended below.
Barney has the NCEA situation well in hand, and the Honor Code seems to be rising up as the premier topic, coming up in October. He has established tight and effective relationships with all the pertinent parties. We have a good chance to serve here.
Our next Activities event is Bill Roedy’s Distinguished Graduate Award ceremony, 10-12 Sep. We have a head count of 52 classmates and many of their spouses. Mess hall operations are all cancelled except for cadets, so we will have festivities in the WP Club and at the Hilton Woodcliff Lake. It promises to be a good time. We will also stand on the reviewing line and review the Corps.
I signed and sent forward the MacArthur Cup agreement—athletic award. It is now funded and delivered to AOG.
Bill Cater’s report mentions our five gifts and over 8 million dollars of endowments. He also reminds us of the fine efforts of Lynn Moore and Ted Shadid to get the MacArthur Cup done, and of the support Dave Brown kept up for this project when interest was waning. He kept it alive. All four served the class and the Academy with Integrity, as usual.
Bill Cater’s report mentions our five gifts and over 8 million dollars of endowments. He also reminds us of the fine efforts of Lynn Moore and Ted Shadid to get the MacArthur Cup done, and of the support Dave Brown kept up for this project when interest was waning. He kept it alive. All four served the class and the Academy with Integrity, as usual.
Kurt Reineke’s committee has some coordinating to do and then there will be a query, looking for the class’s consensus, coming out. You will hear from him fairly soon.
Bill Taylor has done his usual yeoman’s work taking care of the DGA festivities. Thank you from all of us, BT. Frank Monaco continues to keep info flowing smoothly. Thank you, Ranger Buddy.
TJ Young is steady as a reference datum, as you would expect, Charlie McGee is connecting with all the other officers and committee chairs, and is innovative and has lots of ideas. He and Crash Werner are working together very strongly on the memorial effort for our fallen Brothers. Also important.
John Connors has reviewed everything we do for legality and sense, and his discernment is flawless. Thanks for that, John. Steve Strom is a calm influence, cool and deliberate. It’s very good to have him there.
The class officers and the class committee chairs have spontaneously formed partnerships and alliances to work for the collective wishes of the class. Steve Wilson continues to think outside the box and solve problems. He and Charlie McGee got these partnerships started.
It is a pleasure to work with such good men, good soldiers and good Brothers, in the service of this class of ours.
Best to everyone and all of yours,
Bill Cater SENDS:
***CFO REPORT 29 AUGUST 2021***
Dear Executive Committee and Committee Chairs,
This is the CFO report for our meeting scheduled on Sunday, August 29, 2021. My last report was emailed on July 16, 2021(for our meeting on July 18, 2021). This report is based on information received from AOG on August 24th for the month ending July 31, 2021.
This is the CFO report for our meeting scheduled on Sunday, August 29, 2021. My last report was emailed on July 16, 2021(for our meeting on July 18, 2021). This report is based on information received from AOG on August 24th for the month ending July 31, 2021.
The Class of 1970 financial accounts as of July 31, 2021 are as follows:
1. Admin Fund has $25,399 (last report at June 30,2021 was $25,376).
2. Class of 1970 Gift Fund has a total balance of $100,482 (last report was $350,934). For the first time in many years there are no pledges receivable. On July 23rd, $256,500 was transferred from the Gift Fund into the newly established Class of 1970 MacArthur Cup Award for Athletics Endowment.
3. Class of 1970 NCEA Endowment Fund has a total balance of $4,792,820 (last report was $4,726,196) consisting of $2,563,278 principal (no change from previous); $1,512,116 Temp Rest (unrealized gain on the principal-last report was $1,445,491) and $717,428 DDF (actual earnings not distributed-no change from last report).
4. Class of 1970 West Point Cyber Leaders Conference Endowment Fund has a total balance of $3,021,001 (last report was $2,972,970) consisting of $2,200,000 principal (no change from previous); $737,967 Temp Rest (last report was $689,937) and $83,033 DDF (no change from previous). We fully funded the principal in January 2020.
5. Class of 1970 MacArthur Cup Award for Athletics Endowment fund has a total balance of $257,738 consisting of $256,500 principal and $1,238 Temp Rest.
This endowment was funded on July 23, 2021. For those of you not familiar with the history of this endeavor, I would like to thank Lynn Moore for his efforts over the past several years for initiating the ideas for this endowment. Also, Dave Brown kept the idea going forward when interest was waning.
Congratulations to our great Class of 1970 for establishing a great legacy for the three endowments totaling $8,071,559 that will continue to support West Point’s mission to developing leaders of character.
Please call or email me to ask questions, discuss any items or make corrections before our meeting . Let me know if I missed anyone.
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