DCP NewsFeed Posted February 6 Report Share Posted February 6 As The Cadets look forward to 2034 and the corps’ 100th anniversary, our management team has conceptualized an endowment fund for The Cadets to help ensure the future of the non-profit organization and corps in perpetuity. The creation of the Endowment was approved by the Cadets Arts & Entertainment (CAE) Board of Directors at the […]View the full article Quote Link to comment Share on other sites More sharing options...
rpbobcat Posted February 7 Report Share Posted February 7 Going to be a "negative nelly" here 2034 is a long way off. With all the turmoil in DCI, including the issues with SCV, it remains possible that Drum Corps in general and The Cadets in particular may not be around in 2034. If that does happen, does anyone know what happens to any funds that were put into the Endowment ? 1 Quote Link to comment Share on other sites More sharing options...
TOC Posted February 7 Report Share Posted February 7 3 hours ago, rpbobcat said: If that does happen, does anyone know what happens to any funds that were put into the Endowment ? Plus interest? Quote Link to comment Share on other sites More sharing options...
Sutasaurus Posted February 7 Report Share Posted February 7 An admirable effort, but what will $1.9 million be worth in 2034? I say, stick with a 5 year plan and update it accordingly. 4 Quote Link to comment Share on other sites More sharing options...
Tim K Posted February 7 Report Share Posted February 7 5 hours ago, rpbobcat said: Going to be a "negative nelly" here 2034 is a long way off. With all the turmoil in DCI, including the issues with SCV, it remains possible that Drum Corps in general and The Cadets in particular may not be around in 2034. If that does happen, does anyone know what happens to any funds that were put into the Endowment ? Depends on how things are worded when requesting donations.No two capital campaigns are alike, but usually when it is honor an anniversary the funds collected cannot be used until a specific date. You can also earmark donations for specific purposes. With a capital campaign the donations have to be used for the specific purpose but if the the organization does not do so, it is up to the donor to file a complaint. My guess, and I’ll defer to the legal eagles if I am wrong, if an organization folds, the funds must be returned. If the organization goes bankrupt, the donations may be considered assets and would be used to settle debts. To get the money returned, the donor would have to file as a creditor. I agree 2034 is a long way if, but for Cadets this could a wise move. Cadets needs to prove stability. Two recent directors had their fans and critics and their strengths and flaws, but I think miracles were expected of both and support was at times minimal. I’m hoping history will not repeat itself. I think a longer campaign would allow Cadets to prove stability, though the five year suggestion by Sutaurus has merit too. 11 minutes ago, Sutasaurus said: An admirable effort, but what will $1.9 million be worth in 2034? I say, stick with a 5 year plan and update it accordingly. 1 Quote Link to comment Share on other sites More sharing options...
ironlips Posted February 8 Report Share Posted February 8 You mean, there's a drum corps that actually has a plan that extends past next August? Astounding! Setting up an endowment (anniversary dates being totally irrelevant, actually) sure beats cookie sales, and provides some hedge support vis-a-vis dwindling Bingo and the occasional alumni picnic. And it's a good deal safer and less fraught with intrigue than borrowing large sums from shady characters. 3 Quote Link to comment Share on other sites More sharing options...
rpbobcat Posted February 8 Report Share Posted February 8 11 hours ago, ironlips said: You mean, there's a drum corps that actually has a plan that extends past next August? Astounding! Setting up an endowment (anniversary dates being totally irrelevant, actually) sure beats cookie sales, and provides some hedge support vis-a-vis dwindling Bingo and the occasional alumni picnic. And it's a good deal safer and less fraught with intrigue than borrowing large sums from shady characters. This approach may be "a good deal safer and less fraught with intrigue . . " for the corps. But what about the investors As they "the devil is in the details". The ads for investment products always say "read our prospectus carefully, before you invest ". Seems like a really good idea here. Quote Link to comment Share on other sites More sharing options...
2000Cadet Posted February 8 Report Share Posted February 8 22 minutes ago, rpbobcat said: This approach may be "a good deal safer and less fraught with intrigue . . " for the corps. But what about the investors As they "the devil is in the details". The ads for investment products always say "read our prospectus carefully, before you invest ". Seems like a really good idea here. Well at least they're forward-thinking about this. Given the state of drum corps nowadays, I believe a lot more corps need to think more about their financial futures than not. We don't want more SCV-type situations taking place. 2 Quote Link to comment Share on other sites More sharing options...
JimF-LowBari Posted February 8 Report Share Posted February 8 Not knowing much about the investment world at least Cadets are looking outside of the “same old same old” ways of staying solvent. Not sure about the 2034 vibe. Is it collect money until then and… then what? Quote Link to comment Share on other sites More sharing options...
CadetDood Posted February 8 Report Share Posted February 8 1 hour ago, JimF-LowBari said: Not knowing much about the investment world at least Cadets are looking outside of the “same old same old” ways of staying solvent. Not sure about the 2034 vibe. Is it collect money until then and… then what? I believe the plan is to have an alumni corps in 2034, probably similar to the Bluecoats alumni corps from last year. My guess is this money would go towards funding the alumni corps. Quote Link to comment Share on other sites More sharing options...
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