[I will return to Alexander Spotswood later.]
The Memorial Foundation of the Germanna Colonies in Virginia, Inc. , has been in existence for fifty years. Recently, the Association of the Germanna Colonies in Virginia was organized (but not incorporated). Not surprisingly, they will be known as the Foundation and the Association .
Why the two organizations? The Foundation is governed by a Board of fifteen Trustees. Technically, there are no members in the Foundation. The Association is governed by a Board of fifteen Directors. Individuals may be members of the Association. Why the two organizations?
In my view, the Foundation controls the permanent assets. This includes the extensive land, the Visitor’s Center, Salubria, and perhaps endowment funds. The present real estate alone is worth millions and many outsiders would like to get their hands on it. With the Foundation controlled by fifteen Trustees, of whom three are normally elected each year, it would be difficult for an outsider to gain control of the Board of Trustees. By carefully choosing the Trustees, it should be possible to maintain control of the assets. As grants, endowments, and large estate gifts are sought, it is important that the donor know that his monies will be used as intended. A primary purpose of the Foundation is to care for the assets that it owns and to seek additions for the furtherance of the aims of the Germanna Colonies. All labor on behalf of the Foundation will probably be donated, i.e., there are no paid personnel.
The Association is more concerned with day-to-day operations of the Germanna Colonies. It is envisioned that the membership will be active in this regard. Holding the Reunions with auxiliary tours and a Seminar would be appropriate. Publishing material would also be appropriate, including a newsletter. It would require money to do these things and they might be expected to earn some money. I would envision that the Association has its own funds, checking account, and probably a paid director. If it earns a surplus, from time to time the Association might transfer funds to the Foundation. A tax expert will have to advise me on the following. What are the implications of the Association earning a profit? Are they subject to a tax? The Association is not expected to receive gifts. Gifts should be made to the Foundation, which is a tax exempt organization. Contributions to the Foundation may be deducted by the donor on his tax return. If the auction at the Reunion continues to be held, the proceeds would probably have to be designated as going to the Foundation so that the donor receives a tax break.
In the next Note, I want to look at the requirements for membership in the Association.
(19 Sep 06)
We gratefully acknowledge the work of John Blankenbaker who published over 2,500 Germanna History Notes via the Germanna-L@rootsweb.com email list from 1997 to 2008. We are equally thankful to George Durman (Sgt. George) for hosting the list and republishing the notes via rootsweb.com.