X-Message-Number: 1801 From: Subject: CRYONICS Money Matters Date: Mon, 22 Feb 93 19:16:31 PST THE KLIENSTER SPEAKS ABOUT... MONEY It has come to my attention that the doomsday predictions I made about Alcor's finances before I resigned my positions in the Alcor Endowment Fund and Alcor Patient Care Trust Fund Advisory Committees are slowly coming true. So I will try once again to advise Alcor on how it can solve its financial problems. Step One: Improve the composition of the board. When "three Alcor board members showed themselves willing to cut people off from a chance at future life", you have a board that does not inspire trust from its members. Without trust you don't get donations or volunteers. A new election should be held immediately. Step Two: Repeal the bylaws that could be interpretted to give Alcor the right to not suspend its members. This is to improve the trust factor. Step Three: Release financial information. All Alcor members who wish it, should be given a copy of Alcor's financial statements on a monthly basis. This will increase the trust that Alcor members have with the board plus give Alcor members the opportunity to tell us ways we can save money. Step Four: Make the Patient Care Trust Fund a trust fund. The fact that this fund was not a trust fund was a factor in the resignation of the Patient Care Trust Fund Advisory Committee. Step Five: Stop taking money from the Patient Care Trust Fund to fund non Patient Care activities. Having every Alcor employee receiving money from the Patient Care Trust Fund is definitely not following the Alcor bylaws that say "[Patient Care] fund capital and income shall be spent only for direct patient care expenses." Develop a payment plan for Alcor to repay all the monies taken from the Patient Care Fund that were not direct patient care expenses. Step Six: Make the Endowment Fund an endowment fund. The fact that the Endowment Fund was not being treated as an endowment fund was a factor in the resignation of the Endowment Fund Advisory Committee. Repeal the recent vote that allowed Alcor to borrow money from the Endowment Fund. Develop a payment plan for Alcor to repay the $86,000 that should have gone into the Endowment Fund. Step Seven: Make the Audit Fund an audit fund. Yes, that's right, all the money in the Audit Fund was spent for non audit uses. Develop a payment plan for Alcor to repay all the monies taken from the Audit Fund. Step Eight: Reduce amount of employees. I'd be glad to name the employees we should get rid of if steps one through seven are actually done. Step Nine: Ask for volunteers for as many positions as possible, including restarting the Investment Advisory Committees. I know of many people who would be willing to volunteer for many positions if only they could trust Alcor. Please note that I have not asked for dues to be raised at all. I believe that with the low level of trust between Alcor and its members, it would be very hard to convince them that they should pay higher dues. I would be willing to have higher fees charged to last minute suspensions. If these nine steps are taken, Alcor will have a much better financial future over both the short and long term. Eric Klien Rate This Message: http://www.cryonet.org/cgi-bin/rate.cgi?msg=1801