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Administration Of The Robertson Trust |
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With the establishment of the Robertson
Trust in 1988, by Robbie's father, Donald
Robertson, the initial $140,000 contribution was invested by the Trustees of the Soaring Society of America.
The Trustees determined, in consultation with Team Managers and
SSA staff, how much money to allocate every two years to help offset the
cost of fielding US Soaring
Teams. The general guideline was to preserve the corpus of
the Trust Fund, and allocate the "earnings" to Team funding
requirements as per the endowment's charter.
In 1997, the Soaring Society of America established the Soaring Society
of America Foundation as a unique entity with its own operating by-laws
and officers, specifically to facilitate the management of endowment and
trust
type funds. The
Robertson Trust, as part of the SSA Foundation, provides contributors with
an
independent foundation managed by trustees providing for long-term
security and stability while bringing the internal discipline necessary
to preserve and manage long term endowments. This means that contributions to the
Robertson Trust will be working to
field US World Soaring Teams for generations to come.  The Trustees have established the general guideline of making available
from the applicable Trust funds about 5% per year for operations,
intending that this would preserve the corpus of the funds, and
hopefully provide some of the income and capital gain flowing back into
the funds for further growth. This would be applicable to the Robertson
Fund as one of the Trust Funds. The Wood Trust Fund has also been
established for US Soaring Teams use, and the above is applicable to it,
as well.In 2006 the U.S. Team Committee and the SSA Trustees have established a memo of understanding with regard to the amount and timing of payments to the team from the Robertson Trust. This memo simply restates long held practices and cleans up how funds are transferred to the team. See the memo here.
See more on the SSA Foundation and Trustees... See what the SSA has to say about the the purpose and history of the Robertson Trust. See the full contributors report in PDF format here. |
►Administration
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Welcome I Charter I Contributions I FAQ Copyright 1997-2008 Soaring Society of America |
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