The Alabama Society endowment fund was actually started some 15 years ago as a result of a $8,000 gift in the will of Birmingham Chapter member John McConnell. Over the years the fund struggled to grow due to the national economic problems, very low interest rates, and minimal publicity. It had never been able to provide any support for our society’s youth programs.
On August 27th, 2015 the Endowment Fund Committee acting on behalf of the Alabama Society, Sons of the American Revolution entered into a contractual agreement with the Community Foundation of South Alabama to establish a permanent endowment fund for the state society. Since that time all of the endowment funds previously held by the state in certificates of deposits/regular money market accounts have been transferred to this endowment Fund known as the Alabama Society Sons of the American Revolution Fund.
Up until our agreement with the Community Foundation of South Alabama, the state society could only accept cash into the endowment fund. Now, our Alabama Society Sons of the American Revolution Fund has the capability of accepting not only cash, but also stocks and bonds, real property and any legacy gifts that might be made to the Endowment Fund. At the same time the Community Foundation will provide tax exempt letters to all donors and will provide letters to family members if a memorial gift is made to honor a deceased loved one. Direct cash deposits can also be made by credit cards or through PayPal if you have a PayPal account.
The Endowment Fund Committee is working on various means to 1) grow the value of the fund and 2) improve the monetary return of the endowment back to the state society. However, just like an IRA, this is going to take a period of time to fully achieve and will require the continuous assistance, and generosity, of not only the State Society, but also chapters and individual members.
If you have any questions about the Alabama Society Sons of the American Revolution Fund, contact any of the members of the Endowment Fund Committee below:
Click on the link below in red if you want more detailed instructions.
The following are sample letters to use if you or your chapter would prefer to mail a check to the Community Foundation of South Alabama. Clicking on either link will download a Word document to your download folder.
Sons of the American Revolution