Elfen_Furry Moderator
Joined: 18 Jun 2002 Posts: 2601 Location: NYC NY
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Posted: Mon Apr 07, 2003 10:16 pm Post subject: 2.4 million |
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I'm back.
My friend's doing the best he can with the loss of his wife, over two weeks ago, and I wish him the best with raising his family...
So, a little history.
The Shortfellow Foundation is a Private Non-profit 501c(7) and 507 Organization. This basically means that this is an Fraternal-type organization assembled to help the members with in. Primarily in financail assistance with emergencies and celebrations. Marriage, Births and Deaths are the majority.
We, The ShortFellow Society of BTHS, took the group outside the school and created the foundation. With a small sum of money ($5000), we invested in stocks of various companies: Microsoft, Apple, Xerox, IBM in 1980/81.
13 years and additional input to the portfolio, well, its... well I rather not say but consider that MS Stock in 1980 was under $2.
So we gathered together, in loss, to put together a trust for the friend and his family.
Total value: $2.4 million
$975,000 in a 1 sum shot.
$100,000 a year for the next 14+ years.
Admittingly- it took hell to get the others to agree, with many having the idea that since I was the first to receive (with the death of my wife in '83)- that I should be not so generous. In truth, I never recieved but made sure that her son (now 20+) did get something. His allotment end when he reaches 25.
So after all this arm twisting, I got them to agree and create a trust fund for them.
I'm only sadden that I cant send anything to TVDave's family, for this money is not for personal use, for members only, and requires action by comittee to even get anything started.
Thus- I continue to remain poor but nice to know that my actions will do some good to somebody. |
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