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July 31, 2019
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   Charitable Foundation -> Charitable FoundationMessage format
Posted 2019-08-04 1:21 PM (#15327)
Subject: July 31, 2019


Posts: 170
All Charitable Foundation accounts have been reconciled with their respective bank and brokerage statements through July 31, 2019. July financial reports are attached below.

Last month’s Building Fund section of the Monthly Fund Balances spread sheet added two columns as a “strawman” to illustrate the likely establishment of a new sub-account to accumulate donations for maintenance of USSVI’s building on School Street in New London, CT. This “strawman” was presented to support Board discussion during the convention in Austin TX.

Two new Memorials columns have been added this month. They are:
• A Batfish Restoration account to accumulate donations to reposition the boat and repair damage done by spring floods in Arkansas, and
• An account to hold the proceeds of a $38K bequest supporting operation and maintenance of the WWII Submarine Memorial East in Groton.

Notes of special interest:
1. During July, the CF had two charitable expenses and one overhead:
$5,500 withdrawn by the Asheville Base to mobilize for repair of the WWII Memorial at Moonshine Mountain, NC
$139 for a K4K start-up kit for the Topeka-Jefferson City Base.
$263 overhead (general) expense for crime protection insurance.

2. As the charitable arm of USSVI (which is the designated / legal successor to SubVets of WWII) the CF received $37,919.88 from the estate of a WWII subvet who wished to support operation and maintenance of the “submarine museum in New London”. Probate has recognized that “museum” to be the WWII Submarine Memorial East in Groton. Accordingly, the funds are reserved for the Memorial East and will be managed as part of the Memorials Fund.

Email me if you have questions or comments.

Bob Bowman
CF Treasurer

Attachments July 31, 2019 Balance Sheet.pdf (33KB - 8 downloads)
Attachments July 31, 2019 P&L.pdf (36KB - 8 downloads)
Attachments FY 2019 Monthly FUND BALANCES as of 7-31-2019.pdf (59KB - 12 downloads)
Attachments FY 2019 FUND BALANCES as of 7-31-2019.pdf (44KB - 9 downloads)
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