Richard M. Nixon Institute Alumni Association
Frequently Asked Questions
Frequently Asked Questions
RMNIAA Members and Supporters,
The Richard M. Nixon Institute Alumni Association (RMNIAA) has established an Endowment (Restricted) Fund to provide increased help to our school. The purpose of the RMNIAA Restricted Fund is to provide funds for special projects, outside of the yearly operational expenses (scholarships, awards, stipends, etc.) for the structural and academic integrity of Richard M. Nixon Institute.
What is the Richard M. Nixon Institute Endowment Fund?
The Richard M. Nixon Institute Endowment Fund is a sustainable source of funding for our beloved alma mater. The fund will enable the school to tackle the growing slate of critical projects. Donations can be made in the form of a gift, money, or property to the RMNIAA, the income of which benefits the school. You may earmark a project, and the income, not the principal, goes to that project for the benefit of the school. The principal remains in the Fund to generate future income. Or, if you so desire, the donation may not be earmarked for a special project, but goes to the general fund and the income also benefits the school. All donations are to be made in the name of the Fund.
Why an Endowment Fund?
The majority of members, including eminent alumni, are cognizant that the future needs of school would require increased funding. Moreover, the Strategic Plan for the RMNI 2018-2023 (to be adjusted every five years) calls for efficient and effective management of the school; appropriate facilities (library, laboratory, recreational facilities, classrooms); and sustained by reliable and adequate funding.
Serious, deliberate, and more enhanced investments (stocks, bonds) have to be made to meet the rising needs of the school - the present financial funding is inadequate. For these reasons, we need an Endowment Fund.
The RMNIAA wants to give more help to the school from the income of funds derived from the Endowment Fund, outside of its yearly operational support (scholarships, subsidies, awards, etc.). Furthermore, we want to ensure that future financial support of the school remains consistent.
How will the Fund be managed?
When funds are requested for special projects by the school, the request will be evaluated by the general membership, and if deemed appropriate, approved by a majority vote of paid members, then submitted for consideration by the Endowment Fund Board. A majority vote by the Board is required for approval.
The Board is composed of five (5) members, three (3) of whom are children of the founders of the school and the rest are elected by the general membership of the RMNIAA. The Board is comprised of a Chairman, Vice-Chairman, Secretary, and Treasurer and another member.
The Fund is to be audited once a year, by a hired independent auditor.
The Board meets quarterly, one of which must be in person. The Board reports, quarterly, through the Chairman, to the entire membership of the RMNIAA. Investments are managed by an investment company, in consultation with the Board, if necessary.
How can I help?
The RMNIAA is a 501(C)3 organization. Your donations are tax-deductible and confidentiality is assured. You may get in touch with any of the Board members directly. These are the suggested ways you can give:
Donations: Gifts for special activities will be designated as stipulated by the donor.
Bequests: Gifts, after the death of the donor may be in the form of cash, securities, personal property, real estate, or assets accepted by the Board.
Cash: All legitimate cash donations shall be accepted, regardless of amount.
Life Insurance: Life insurance, in the form of a gift, is acceptable with the Fund designated as owner or beneficiary.
Tangible Personal Property: Gifts Jewelry, coins, etc. of tangible value will be accepted.
While thanking you for your anticipated support, we remain,
Members of the Board