Dissolving the SSS
Financing the website.
We should have about $50,000 at the end of 2024 to fund an endowment fund. This will yield $2500 available as a grant. The website can be maintained by SiteInSight for $50 per month in conjunction with the MAPS website, as opposed to the current $750 per month.
- A fund drive needs to be started – Action: Win Reither
Managing the remaining finances
Stark Community Foundation will maintain the Super Sabre Society Endowment Fund. The minimum size is $10,000 and their fee is 1.25%
Endowment founding document:
See the attached draft Super Sabre Society Endowment Fund Field of Interest Fund Agreement
Endowment Fund duration.
The endowment will be established to survive in perpetuity.
Protection of the basis of the endowment fund.
Distributions will be made following the guidelines of the SCF Charitable Payout Policy.
Protecting grant authority flexibility.
Funds may be distributed to organizations that preserve the history of the F-100 Super Sabre and the men who flew the aircraft, as directed by an Advisory Committee of the Super Sabre Society. Alternatively, income may be distributed to organizations that preserve the history of military aviation. If the Advisory Committee ceases to exist, the Foundation’s Board of Directors shall designate charities to receive distributions from this Fund based on the above interest areas.
Is our fund too small?
Stark Community Foundation initial fund contribution is $10,000.
Notifying the membership: ·
Advise the membership of the Boards’ intentions to proceed with the dissolution of the Society seeking their inputs with the intention of transparency and accountability of the Board and Officers of the Society. This should be done ASAP after this dissolution decision is made.
SSS expectations when our legacy is handed off to MAPS
The web site will be stripped of its membership software and made to appear as a part of the MAPS web site while being maintained as a separate web site by SiteInSight under the management of MAPS. MAPS will pay the monthly maintenance fee.
Future reunions:
April 16-19 2024, Gold Coast Hotel, Las Vegas is the last reunion
The Intake:
The last Issue will be issue 55 or 56, depending on content availability.
Dues:
To be collected thru 2024 at least.
BOD Election:
President election in 2022 was the last if we expire Dec 31, 2024. Else VP and Dir at L are up for election in Fall 2024.
Membership Communications:
We will drop Wild Apricot after the reunion, and use Constant Contact for $30 per month for communicating with the membership for the last few months of 2024.
Ownership of tangible SSS assets and records:
We have no tangible assets except money, which will go to the Endowment. Any pictures or historical documents previously donated by members should be given to MAPS for the SSME.
The Intake preservation:
Copies of The Intake are in the Air University digital archive This preservation is free The AU is also interested in copying most of the rest of the web site and this will be encouraged. In addition, The Intake hard copies are saved by five different museums.
Governing laws:
Utah State and IRS rules for dissolving an organization are to be determined.
April 2023 BOD actions:
1. Agreed that MAPS was best suited to manage our Legacy, financed by an endowment managed by a Community Foundation.
2. Pete Collins was tasked to determine if a new organization was needed. A new organization is not needed as The Endowment Fund will be managed by a Community Foundation.
Establish the timeline for subsequent actions.
1. Endowment should be established now with a $10,000 contribution.
2. Membership vote to commence at the reunion and continue until the outcome is determined, or 1 August 2024
3. Web site transition to begin after the reunion.
4. All actions to be completed by Dec 31 2024. Or as soon thereafter as feasible.
In accordance with Article IX of the Super Sabre Society Bylaws, the Super Sabe Society Board of Directors hereby recommends to the membership that the Super Sabre Society be dissolved on 31 Dec 2024 or as soon thereafter as feasible.