All,
To address and clarify a few points on the inevitable but already
lengthy thread on this subject (and wishing there'd been a bit more
interest in the land fund before debate began on its dissolution):
1) TCC: ... doesn't want the proceeds of this particular fund. Please
feel free to weigh in on this point, Mike. In a conversation before the
motion's introduction at TSA's BOG in Kerrville, he had conveyed this
message to me. Just FYI in case you didn't know, the two cave
conservation groups in Texas have an ongoing dialogue and cooperate in a
number of ways. One of these is that TCC has actively contributed each
month for years toward paying off the note on Punkin-Deep. TCC is to be
commended for this. I don't believe TCC currently has a bank loan it's
struggling to pay off -- but if it ever did, perhaps the favor could be
returned. The organization currently has its own worthy projects and
fund-raising means.
2) TSS: ... under the land trust agreement's Section 8 that Joe cited
earlier, cannot receive total funds/proceeds from a dissolution since it
is technically not a cave conservation organization. To reinforce this
point, an attorney who is one of the land fund trustees is clear that
proceeds of trusts and/or funds with stated purposes -- if dissolved --
must be transferred to organizations with the same purposes.
3) TCMA: ... IMHO, paying off the note as early as possible on
Punkin-Deep makes good sense. The interest rate is due to increase as
early as next year; contributions will not go as far then. It's been
pointed out in this thread that the property is accessible to all
cavers. It will also be a pre- and post-convention attraction for cavers
worldwide during next year's International Congress of Speleology.
Although I am a director of TCMA, I did not consult with its board
before meeting on this issue with the other land fund trustees. As a
fund trustee, I abstained from the vote recommending the proposed action
that TSA will consider in the fall.
4) TSA: ... the fate of the fund lies with the Board of Governors or, if
it so decides, the membership by binding referendum -- but no other
organization. The land fund is a creature of the TSA. Under the
agreement creating the fund, TSA serves as the foundation. The document
requires TSA to administer the money as a separate, identifiable fund.
TSA oversees the fund's balance through its treasurer.
5) TSA per capita surcharge: ... IMHO, it's a really good idea to
continue this practice, whether TSA has a land fund or not. Leveraging
the fees can accomplish some great things. And with gas-fueled inflation
being what is has been lately, maybe it's indeed time to consider
raising it higher than $1 a head. Another decision for TSA. ...
Jay
Fritz Holt wrote:
> Regardless of my or any other feelings, when it exists, the letter of
> the governing law should be followed. Thanks, Joe.
>
> Fritz
>
------------------------------------------------------------------------
>
> From: mark.al...@l-3com.com [mailto:mark.al...@l-3com.com]
> Sent: Wednesday, May 28, 2008 12:29 PM
> To: Joe Ranzau
> Cc: Texascavers Mailing List
> Subject: RE: [Texascavers] The TSA Needs Your Thoughts: TSA Land Fund
> Dispensation
>
> Joe Ranzau wisely pointed this item out below:
>
> Thanks!
>
> Mark Alman
>
------------------------------------------------------------------------
>
> From: jran...@gmail.com [mailto:jran...@gmail.com] On Behalf Of Joe
Ranzau
> Sent: Wednesday, May 28, 2008 12:10 PM
> To: Alman, Mark @ IRP
> Subject: Re: [Texascavers] The TSA Needs Your Thoughts: TSA Land Fund
> Dispensation
>
> It might be good to point out the following restriction from the
> foundation document.
>
> 8. Termination of the Foundation. If for any reason the Foundation
> is terminated or its assets are distributed generally, the assets of the
> Fund shall be transferred by the Foundation to any other cave
> conservation organization or organizations located in Bexar, Dallas or
> Travis counties, Texas that are exempt from Federal income tax.
>
> On Wed, May 28, 2008 at 11:36 AM, <mark.al...@l-3com.com
> <mailto:mark.al...@l-3com.com>> wrote:
>
>>From the Minutes of the Spring TSA Business Meeting, April 6th, 2008
> Convened at the TSA Spring Convention, April 5th thru the 7th, in
> Kerrville, TX at the Kerrville-Schreiner Park. Submitted by Mark Alman,
> TSA Secretary.
>
> "The TSA Constitution was reviewed concerning dispersing these
> funds and was agreed that all can be dispersed, minus the original $500
> seed money given by the NSS at the 1994 Convention.
>
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