X-Message-Number: 26507
Date: Mon, 4 Jul 2005 11:15:29 -0400 (EDT)
Subject: Subject: Alcor's underachieving endowment goal
From: "Joe Waynick" <>

Mark;
    I am happy to see your post about the Endowment Fund pledge drive
announced in the latest issue of Cryonics magazine. I want to give you
additional information to help you understand the bigger picture.
    Yes, the goal of the pledge drive is to raise a minimum of $1 million
dollars but that is by no means the only drive we intend to sponsor. I
will not personally feel comfortable until we have a minimum of $5
million in the fund. At that level, Alcor would receive $250-$300,000
annually in perpetual revenue. To achieve that goal we have a number
of unannounced fundraising campaigns and planned for the coming months
and years.
     Furthermore, we will not withdraw all of the income generated by the
fund. Rather, we will allow some portion to continue to accumulate,
thereby providing an ever-growing source of revenue for the
organization.
    In addition to allowing a portion of the generated income to
accumulate in the fund, we will continue with a permanent fundraising
program to add additional principal to the Endowment Fund every year.
     All of these things take time to implement. The pledge drive is but
one aspect of an overall strategy that is being developed.
     Joe Waynick, CEO/President, Alcor Life Extension Foundation

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