<VV> Re: CPF FUNDing

[Sethracer at aol.com]

In a message dated 8/11/2007 10:57:57 PM Pacific Daylight Time,  
airvair at earthlink.net writes:

However,  if in the outside chance that all donations would end up going to 
the  endowment, then the board would be compelled to fund the CPF operating 
fund  from the CORSA general fund, and NOT rob designated donations from the  
endowment. To do otherwise is  unthinkable.

-Mark




Mark - Funding the CPF activities from the Corsa general fund? I'm not sure  
that is legal - I defer to the Board Member's opinions on that. Corsa and CPF  
really are two separate bodies now. I hate to say it, but if the operating 
funds  were not forthcoming for CPF, activities that cost money would have to be 
shut  down. I never suggested that money be moved from endowment to operating 
funds.  Although I'll bet that this would be legal, since dissolving the 
entity would be  the alternative, and what would be the benefit of the endowment 
if that were to  happen. That is why a professional would be chosen to run that 
type of actiity,  and the reason it hasn't been done is that the fees would 
exceed the value of  the endowment - at least at it's current level. The above 
is my opinion only. I  currently have no "Dog in that fight", so to speak. -  
Seth



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