[Alumni-chat] 501 c3 status and sponsorship information

[Sistersara at aol.com]

In a message dated 6/25/2007 7:45:05 P.M. Central Daylight Time,  
tgseto at hotmail.com writes:

5.   If the Tides is to be approached as a receivorship, I think this is a 
good  thing to do.  But donors need to know what will happen to their money  
should our attempts fail, because they easily could.  I still do not  know 
what happened to the AIF money.  If it ended up with AU, I will  be extremely 
unhappy because I was very clear at the outset that under no  circumstances 
would I agree to this.

The members of AIF recognized  a lot of these problems before they became so 
severe.  It is  unfortunate the College did not take our concerns  seriously.

Thelma



AIF donors were asked for a secondary grantee if the point of AIF -- an  
independent Board of Trustees for the College was not successfully negotiated,  
which it was not.  The AIF trustees very carefully calculated how the final  
funds were to be split, given the secondary grantees, and the fund was closed  
and all assets distributed.  Mine went to the American Friends Service  
Committee -- my first co-op employer.   I remember a note from Katy  about writing 
several hundred checks over a weekend.  I think the Alumni  Fund got about 160 
thousand from the fund -- the library some donations, but the  rest went outside 
Antioch.  



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