Home header left
| Login Help

 

 

The Trophy Endowment Fund

Photo #10646 | SSAF Logo Magazine

Thank You for Considering a Donation to the Trophy Endowment!

The Trophy Endowment Fund is established in the Bylaws of the SSA Article XI, Section 2 (2).  The text is reproduced below as of July 30, 2011.

The Trophy Endowment Fund, the income from such Fund to be used in respect of the DuPont, Eaton, and Stroukoff Trophies and such other trophies as may be accepted by the Board of Directors of the Society from time to time as hereinafter in this Paragraph (2) provided. No payment out of such income shall be made to a trophy recipient in addition to the award represented by the trophy itself. No offer of a new trophy to the Society shall be accepted unless the donor (or a third party on the donor's behalf) shall provide at no cost to the Society (i) such trophy, (ii) a suitable shipping container therefor, and (iii) unless such trophy is intended as a "one time" award to be awarded outright to the first recipient, a cash amount of $5,000 or such greater amount as the Board of Directors may hereafter approve, payable in full at the time such trophy is first given to the Society. Such cash amount shall be held by the Society as an endowment and added to the Trophy Endowment Fund. All income earned in respect of all such endowed amounts shall be, to the extent necessary, applied in or towards the following purposes: (i) the upkeep and maintenance of such trophies, (ii) the maintenance and replacement of their shipping containers, (iii) packing and shipping costs in respect of the delivery of trophies to the recipients and their return, and (iv) any other costs incidental to the awarding and shipping of such trophies. Any income earned in excess of that part applied towards such purposes shall be added to the endowed amount. Such trophies shall be presented to recipients at the contest at which any such award represented by a trophy is won, or at such other venue as the Board of Directors may from time, in its discretion, decide.

 

 

Posted: 1/27/2016


Board Reports and Financial Information

In 1998, the Soaring Society of America (SSA) established the SSA Foundation as a separate entity with its own operating by-laws and officers specifically to solicit, manage and distribute endowment type funds held by the SSA. The thinking behind the SSA Foundation was that an autonomous Foundation managed by independent trustees as gatekeepers would be the best way to solicit and manage the various endowments held by the Soaring Society. The clear corporate identity of the Foundation structure provides long-term security and stability to contributors while bringing the internal discipline necessary to preserve and manage long term endowments.

The SSA Foundation manages two primary types of money. Liquid non-restricted contributions and restricted contributions which hold a specific charter designating their use. The non-restricted portion of the Foundation consists of contributions of cash, marketable securities, and other primarily liquid assets, which are not designated or restricted, in any way. Non-restricted funds are paid to the Soaring Society of America annually for use in fostering and promoting all phases of gliding and soaring.

Restricted or special funds are managed and distributed by the foundation trustees in a manner consistent with the funds individual charter. Endowments have been established to support the U.S. Soaring Teams, manage trophies, promote youth in soaring and provide scholarships. Because restricted or special use contributions normally carry an operational goal to be achieved typically by the SSA these contributions must be approved by the SSA Board of Directors and Foundation Trustees. The 2002 Special Report addendum includes a listing of the special funds and their purpose.

In 2002 the Trustees issued a detailed report and open letter regarding the Foundation. See the full report of the Foundation and investment practices in Adobe PDF format here.

Foundation Treasurer Reports
Past Year's Annual Reports from the Foundation Treasurer as presented to the Society's Board of Directors. Click the highlighted link below.

 

2011 - November Balance SheetNovember Income StatementIncome StatementBalance Sheet

2010 - Income StatementBalance Sheet

2009 - Income StatementBalance Sheet

2008 - Final Income Statement - DecemberFinal Balance Sheet - December

2007 - Income/Expense StatementBalance SheetAsset Tracker

2004 - Dec 2004

2003 - Dec 2003

2002 - Oct 2002

2001 - Oct 2001

2000 - Oct 2000

Posted: 7/10/2007


How You Can Help

The Distant Horizon

We've all heard a lot of talk about the trouble with our sport being that it's full of folks like me -- old guys with funny hats. Trouble? We're the ones who hold the key to soaring's future. We're the ones who've reached the stage in life where we think about generations to come and what we can do for them. Some of us are lucky enough to be able to provide material help for those who will follow us into the air on silent wings. Some of us are fortunate enough to need to be concerned with estate planning. In this regard soaring can help us while we help the future of soaring. Current gifts to the SSA Foundation can produce immediate income tax savings. Planned gifts can produce current tax savings while augmenting current income. Other kinds of gifts produce estate tax savings. We're now at a stage in life where we look toward a distant horizon far beyond our own time. The SSA Foundation's endowment campaign's gaze is also firmly fixed on the long-term.

We welcome direct gifts of cash, securities and other property, and in the form of planned gifts. We look forward to the opportunity of discussing with you plans for including testamentary gifts to the endowment in your will and other estate planning documents. We hope you will consider establishing charitable trusts for the Foundation's benefit and/or participating in the planned giving programs sponsored by several large financial institutions. We'll be delighted to aid you with the appropriate professional assistance that these matters may require.

The Flight Plan

We generally don't leave the ground without some fairly clear plan for the flight. The SSA's has set its course with six major missions foremost in mind. Endowment resources are necessary to assure the success of each of them. Broadly these missions are

  • Securing Soaring's Future
  • Providing Lifetime Learning
  • Expanding our Opportunities to Soar
  • Fostering America's International Competitiveness
  • Encouraging New Generations of Soaring Pilots
  • Achieving Safer Soaring
  • Fostering the Permanence and Effectiveness of SSA Central Functions

Securing Soaring's Future means protecting and increasing our freedom to fly. The interests of our members and our sport must be effectively placed before government, national and international aviation organizations and the general public. We must work collaboratively with all of these to mutual benefit. The work of volunteers and professional staff in this area will require substantial support indefinitely.

The SSA must provide a wide range of services and information to the membership to enable Lifetime Learning. Soaring, web sites, e-mail lists and newsletters are just some of the communications media that must be developed and used. Training materials at all levels from ab initio through advanced cross-country must be developed and disseminated. Access to improved weather services should be provided. Volunteers will require staff support to do these things effectively. Long-term stable resources are a must.

Expanding our Opportunities to Soar requires a long-term program within SSA to help establish new soaring sites and to protect and foster existing ones as air and land spaces become ever more crowded. Your contributions will provide endowment for site development and preservation programs and help establish capital funds that can be loaned to clubs and commercial operators for related purposes.

Fostering America's International Competitiveness means providing U.S. international teams with ongoing, stable endowment funded support the will permit the participation and training of our very best pilots and the development of a truly world class team.

The SSA Foundation is committed to Encouraging New Generations of Soaring Pilots by helping enthusiastic youth enter and blossom in the sport. Your contributions will help SSA develop programs to encourage high-school youths to earn their wings and to help college-aged youth continue learning and soaring through university and local soaring clubs.

Achieving Safer Soaring is an unending task for the SSA and its Soaring Safety Foundation (SSF) undertaken with a goal of making soaring the safest of all sky sports. The Soaring Safety Foundation has a complete program of safety practices and publications. Your contributions will help continue current programs and sponsor future ones.

Campaign Goals

The Foundation's ambitious goal is to provide the SSA with an endowment of at least $2 million.

Cumulus Club and Naming Opportunities

In becoming an SSA Foundation members join an elite group of SSA members making significance in soaring forever. Members who give substantial amounts become eligible for induction into the Foundation's Cumulus Club. In the Cumulus Club members enjoy addition benefits and opportunities to direct the work of the Foundation. Speak with a Foundation Trustee or SSA Director for details.

An endowment campaign gives rise to many opportunities to immortalize the names of donors or other individuals who donors may designate. The Society and the SSA Foundation wishes to maintain the maximum possible flexibility in this regard, and will gladly explore ways of fulfilling donors' wishes. It can also suggest suitable opportunities for naming in conjunction with the campaign's goals. Members' suggestions for naming opportunities are always welcomed.

Posted: 7/10/2007


SSA Donor Bill of Rights

PHILANTHROPY is based on voluntary action for the common good. It is a tradition of giving and sharing that is primary to the quality of life. To assure that philanthropy merits the respect and trust of the general public, and that donors and prospective donors can have full confidence in the not-for-profit organizations and causes they are asked to support, we declare that all donors have these rights:

I.

To be informed of the organization's mission, of the way the organization intends to use donated resources, and of its capacity to use donations effectively for their intended purposes.

VI.

To be assured that information about their donations is handled with respect and with confidentiality to the extent provided by the law.

II.

To be informed of the identity of those serving on the organization's governing board, and to expect the board to exercise prudent judgment in it stewardship responsibilities.

VII.

To expect that all relationships with individuals representing organizations of interest to the donor will be professional in nature.

III.

To have access to the organization's most recent financial statements.

VIII.

To be informed whether those seeking donations are volunteers, employees of the organization or hired solicitors.

IV.

To be assured their gifts will be used for the purposes for which they were given.

IX.

To have the opportunity for their names to be deleted from mailing lists that an organization may intend to share.

V.

To receive appropriate acknowledgement and recognition.

X.

To fell free to ask questions when making a donation and to receive prompt, truthful and forthright answers.

The SSA Foundation

PO Box 2100, Hobbs, NM 88241-2100 505.392.1177

Giving the Perpetual Gift of Soaring

The SSA Donor Bill of Rights is available for download here.

Posted: 7/10/2007


History of the Foundation

SSA Foundation

In 1998, the Soaring Society of America created the Soaring Society of America Foundation for the purpose of, among other things, managing and administering endowment funds for the benefit of the Society. The SSA Foundation, as a stand-alone entity from the Soaring Society of America, has its own corporate identity, operating by-laws and designated officers. The concept of the SSA Foundation is that an autonomous foundation managed by independent trustees would be the best way to solicit and manage the various trusts dedicated to support the Soaring Society of America.

The corporate identity of the Foundation structure provides for long-term security and stability for management of endowed funds. Further, the Foundation structure provides the internal discipline required to preserve and to manage long-term trusts and endowments thus assuring contributors that their long-term interests will be preserved.

Endowments are funds held in perpetuity for the benefit of a non-profit organization. While income from the endowment is spent to support the various activities of the beneficiary, the principal of these gifts is held intact to assure that income is available for an indefinite time to come. Endowments assure the ongoing stability of an organization and provide a solid base for its growth. They outlive current officers, trustees, programs and policies, permitting the organization to adapt to its changing environment. They insulate it against the inevitable disputes and mistakes that are part of every institution's life.

Trustees

As was the case prior to the establishment of the Foundation, Trustees are elected by the SSA Board for three year terms. It is their direct responsibility to administer the income and disbursements of the various Tr ust Funds, to invest funds with an eye toward an appropriate balance of long-term performance and acceptable risk, and to report performance on a periodic basis to the SSA Board of Directors.

With establishment of the SSA Foundation, the Trustee roster was increased from three to six, with the sitting SSA Treasurer and the sitting SSA Chairman of the Administrative Committee as automatic one year term members. Decision-making is by majority vote.

All Trustees are volunteers and serve without compensation. Individuals who have served as Trustees are:

Dick Hall, Harner Selvidge, Ted Sharp, Doug Jacobs, Sterling Starr, Bill Sproull, Brian Utley, Jim Short, Eric Mozer, Steve Wasilowski, John Seaborn, and Al Gold

Current Trustees are listed in the Annual Reports of the Foundation.

Investment Approach

The Trustees act as investment advisors for the Foundation portfolio. Their objective is long term capital appreciation of the portfolio, while meeting a current requirement for annual distributions. It is the general policy of the Foundation to support SSA approved programs at a level of 5% of the yearly Fund Balance for yearly activities. This level provides both a stable level of funding to the program and is within the historical average earnings from fund investments. The policy of the Foundation is not to curtail program funding in down market years or to over-fund programs in high market growth years. Investment strategy is discussed at semi-annual meetings or in direct phone/email electronic discussions.

The Soaring Society of America Foundation investment policy can be found here.

The current named trusts designated for the SSA Foundation include:

  • Life Membership Trust Fund
  • Trophy Endowment Fund
  • General Endowment Fund
  • Eagle Program Funds
  • General Endowment Trust Fund
  • SSA Designated Trust Fund
  • Wolfgang B. Klemperer Memorial Fund
  • U.S. Team Trust Fund
  • Lawrence Wood Memorial Trust Fund
  • Robert L. Robertson Memorial Trust Fund
  • Youth Funds
      • Paul Kolstad Memorial Fund
      • Gross Cadet Youth Flight Scholarship Fund
      • Richard Bultman Memorial Fund

Posted: 7/10/2007


The SSA Foundation's Seven Initiatives

The Seven Initiatives below are the long-range goals that the SSA Foundation has set to foster and promote in support of the Strategic Plan of the Soaring Society of America. These Goals are reviewed and modified by the Trustees of the Foundation in concert with SSA Leadership. The goals are intended to be specific but flexible enough to allow for changes in SSA strategic needs over time.

1. Securing Soaring's Future

The SSA Foundation is committed to help the Soaring Society of America be the Advocate of the Soaring Community. Some efforts will be great, others smaller, but each battle fought by SSA, on behalf of the soaring pilots of the United States is critical. Your contributions support and expand this effort on an on-going basis.

  • Fighting for our Rights and Needs relating to airspace, aircraft certification, pilot licensing, site preservation and access to our land and air resources.
  • Protecting our Right to Fly while maintaining and supporting the utmost Security for the United States.
  • Developing public awareness of the benefits of soaring and the small impact soaring has on the environment.
  • Maintaining SSA involvement in international affairs that impact the rules under which we fly and compete in the United States.

2 . Promoting Lifetime Learning

The SSA Foundation is committed to help SSA be the Comprehensive Source of Information on Soaring Worldwide. Your contributions will help SSA to provide the gateway publications beginners need and to be the definitive source of soaring information throughout one’s lifetime.

  • Supporting professional and volunteer efforts to create and refresh student and instructor training publications and national training standards.
  • Creating programs to address a nationwide shortage of soaring instructors, including "growing our own" through an SSA Initial Instructor certification Program.
  • Creating recurrent and advanced training programs to train pilots to handle new equipment, techniques and environmental changes.
  • Training pilots to safely and enjoyably compete and fly cross-country.
  • Developing enhanced weather and other technological products that make it easier, safer and more enjoyable to soar.

3. Expanding our Opportunities to Soar

The SSA Foundation envisions a long-term SSA program to help establish new soaring sites and to protect and foster existing ones. As land space becomes more crowded, the SSA Foundation seeks to develop programs to Save Our Soaring Sites.

Your contributions will endow site development and preservation programs and help establish capital funds that can be loaned for related purposes.

  • Providing capital to procure and develop new soaring sites.
  • Helping operators at existing sites purchase, maintain, expand or improve their current facility.
  • Providing assistance to new schools and clubs to expand the accessibility of soaring through information and financing of facilities and equipment.
  • Creating SSA sponsored programs at selected sites nationally to teach competition, cross-country, team flying and initial instructor courses.

4. Fostering America's International Competitiveness

The SSA foundation is committed to help the United States field the best team possible for the World Gliding Competition and to bring home victories for the United States. Your contributions will help increase the endowment to sponsor the United States team in training and participating in world competition.

  • Creating a United States Team that is the best in the world.
  • Increasing current endowments so their income covers the costs of international team competition and associated training.
  • Encouraging and training new pilots to compete nationally and climb the international ladder.

5. Encouraging New Generations of Soaring Pilots

The SSA Foundation is committed to partnering with SSA to help enthusiastic youth enter and blossom in the sport. Your contributions will help SSA develop programs to encourage high-school youth to earn their first achievements and to help college-aged youth continue learning and soaring.

  • Developing and expanding SSA programs that create youth involvement throughout the United States.
  • Providing capital for university soaring clubs and sponsors to operate and acquire equipment and materials.
  • Fostering youth involvement in SSA functions and competitions.
  • Providing endowed support for advanced training and participation in international competition.

6. Achieving the Goal of Safer Soaring

The SSA Foundation is committed to working with SSA and its Soaring Safety Foundation (SSF) to make soaring the safest of all sky sports. The Soaring Safety Foundation has a complete program of safety practice and publishing and your contributions will help continue current programs and sponsor future ones.

  • Pursuing the goal of eliminating fatalities among soaring pilots in the United States.
  • Maintaining and expanding instructor recertification and advanced learning courses.
  • Researching and creating new programs to increase site safety and lower insurance premiums among pilots, operators, clubs and manufacturers.
  • Creating operational standards that bring soaring practices in the United States into the safest possible conformity.
  • Publishing and distributing information to provide the best possible safety awareness of developing issues among the soaring community.

7. Fostering the Permanence and Effectiveness of SSA Central Functions

The SSA Foundation offers the opportunity to help the SSA become more permanently established with effective infrastructure to serve the membership in the future. As demands to the Society become greater and as technology becomes more expensive, the SSA needs to invest in "bricks and mortar" and new and updated equipment.

Posted: 7/10/2007