Reports on our Naval Heritage Chair
Stewardship Review
From Bob Crouch
The Attached Report provides the financial status of our Chair Fund for FY 2023 as of 30 June 2023. The performance of our Fund for the past year was routine as desired with nothing exciting to report.
The bottom line for FY2023 reflects a decrease of $132,145 in Cash Equity Balance to $1,563,773. From henceforth I will make no effort to project the life expectancy of our Chair Funds. Not to worry, as an Actuary it will exceed our life expectancies. Our funding efforts began over 20 years ago with Commitments and Gifts exceeding $3.7 million. The Foundation has added to that amount over $2.7 million in Investment Earnings. The amounts disbursed to USNA at just over $3.5 million have been less than expected due to non-availability of full time tenured History Professors.
As I mentioned at our recent Luncheon, the majority of the original Stewardship and Fiduciary Teammates for our Chair Adventure are no longer included in the (To) address of this Email.
Warmest regards,
Bob Crouch
From Dr. Tyler A. Pitrof
