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MISSION STATEMENT

The mission of the American Military Retirees Association (AMRA) Foundation is to generate resources to fund AMRA initiatives that provide educational opportunities for AMRA members and their families and to support AMRA programs that provide assistance to and educate members about the benefits to which they are entitled by virtue of their military service.

FOUNDATION MAKES ITS FIRST GRANT
 
The American Military Retirees Association awarded its first grant on July 13, 2010.  The $35,000 grant to the American Military Retirees Association will be paid in two installments of $17,500 each to fund the 2010 SGM Douglas R. Drum Memorial Scholarships.  The first installment of $17,500 will pay first semester invoices from colleges and universities for AMRA’s 2010 scholarship winners.  The second installment of $17,500 will pay second semester invoices.

AMRA LAUNCHES ITS FOUNDATION

The American Military Retirees Foundation (AMRF) was launched on March 1, 2010 when AMRA transferred all funds donated by members to an account opened by the new Foundation.  The Foundation will assume responsibility for soliciting donations to the Association’s scholarship fund, named in honor of AMRA Founder SGM Douglas R. Drum. 

The AMRA Board of Directors approved the development of its Foundation at the June, 2007 Annual Meeting.  Since that time, work has steadily progressed from incorporation of the Foundation through the approval process for IRS Determination of 501(c)(3) tax exemption.  The Foundation has received its Federal EIN, as well as exemption from NYS franchise and sales taxes and is currently in the process of registering as a charity in all states and the District of Columbia.  Once registration has been acknowledged by all states that require it, the Foundation will begin conducting fundraising efforts for the scholarship fund.  

On February 15, 2010 the Foundation Board approved the opening of Money Market and Checking accounts and the transfer of $50,933.35 was accomplished on March 1st.  Funds in the Association’s Money Market account consisted of the generous donations from members over the past year and $1.00 per member donated by AMRA to the scholarship fund.  The Foundation will provide $35,000 in its first year to fund 24 scholarships for AMRA members, their spouses and dependent children, and their grandchildren.  AMRA membership is verified before scholarship applications are considered.

As expected, Foundation expenses will be higher than normal in its first year due to the fees associated with incorporation and the IRS tax exempt determination, charitable registration in 40+ states, initial printing of stationery and other start-up expenses.   The Foundation’s second year of operation will see much lower expenses and all funds restricted to scholarship awards.  AMRF will have no paid staff and will utilize the most cost-effective measures to accomplish its fundraising efforts.

Foundation Board Members are:  President Fred Gilman, Treasurer Richard Kramer, Secretary Donald Waterworth and Director Carl Steiner