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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