the Board had decided to put the other $3.5M into an Endowment and withdraw only 2% per annum, or about $70,000 per year, for Alcor’s operational needs.
Have they stuck to this plan, or has the piggy bank been smashed open?
Alcor has stuck to this plan. The board takes it very seriously. Not only have we not taken out more than 2% per year, the board have frequently pushed to add more to the Endowment Fund even where it could legitimately be put into operations.
I mean that when we received some income that was not definitely specified for a particular purpose, when I suggested that some of it go to operations, the board unanimously insisted it all go into the Endowment Fund.
Have they stuck to this plan, or has the piggy bank been smashed open?
Alcor has stuck to this plan. The board takes it very seriously. Not only have we not taken out more than 2% per year, the board have frequently pushed to add more to the Endowment Fund even where it could legitimately be put into operations.
By ‘pushed to add’ do you mean took actions that actually resulted in adding or that they made a noble effort?
I mean that when we received some income that was not definitely specified for a particular purpose, when I suggested that some of it go to operations, the board unanimously insisted it all go into the Endowment Fund.
Thank you—this significantly raises my opinion of Alcor.