Colonel Lee Busby; USMC, Retired - The Story of an Incredible Sculptor (Click Here For Full Story)

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News From The Board

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At its regular monthly meeting on October 6, 2016, the Board of Directors approved a grant in the amount of $4,000.00 to the University of Alabama Department of Veterans Affairs for assistance to veteran students.  The Board also approved a grant of $2,000.00 to Clara Verner Tower its annual Veterans Day Luncheon.
 
The Board received a report that two $500.00 grants were made in September under the provisions of the Foundation Temporary Emergency Financial Assistance Program, one the Chappin Detachment, the Marine Corps League and one to the Krulak Detachment of the League to assist a Marine veteran in Cullman and a Marine veteran family member in Jacksonville.

At its regular monthly meeting on September 1, 2016, the Board of Directors approved a grant in the Amount of $1,000.00 to the Mike Spann Detachment of the Marine Corps League to help defray the expense of hosting the 2016 Marine Corps Birthday celebration in Tuscaloosa.

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At the July 2016 meeting the Board of Directors awarded a scholarship to the University of Alabama Veterans and Military Affairs Scholarship Fund in the amount of $5,000. The scholarship specifically targest help for combat wounded veterans (including PTSD) and was made possible by a grant from Operation Hat Trick. Operation Hat Trick is a 501(c)(3) foundation that generates awareness, support and funding for the recovery of America’s wounded service members and veterans. OHT pursues these goals through the sale of OHT branded merchandise, proceeds of which are distributed to selected organizations supporting the OHT mission.

The Alabama Marines Foundation is very proud to partner with Operation Hat Trick and The University of Alabama in service to our common objectives.

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At its February 4th monthly meeting the Board of Directors approved a $10,000.00 grant to the Mike Spann Detachment, The Marine Corps League, Endowed Scholarship at the University of Alabama. This marks the 5th year running that the AMF has donated $10,000.00 annually to the endowment. The corpus of the fund now stands at $80,000.00, from which scholarships to eligible Marines and their family members are awarded regularly. Please click here for more details about the endowment.

In other news:

The Board accepted nominations for and approved a 3-year extension on the Board for Forrest Fitts, Ryan Leach, and Bobby Howard. Many thanks to Forrest, Ryan, and Bobby for their past contributions and their willingness to continue their service.

And the Board, continuing an initiative begun late in 2015, approved a Board Designated Operating Reserve Policy Statement, spelling out how the Reserve shall be managed. The Board also funded the Reserve to its target minimum, one year of operating funds. Establishment of the Reserve is a milestone in the growth and development of the Alabama Marines Foundation and is a tribute to all who have worked hard to ensure accomplishment of the mission of the Foundation.

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At its January 2016 meeting the Board of Directors adopted a resolution establishing a Board Designated Operating Reserve with an initial allotment of $15,000.00. The Board is expected to approve a target minimum for the Reserve at its February meeting and to adopt a policy statement outlining how the fund is to be managed. The Board believes that establishment and maintenance of an operating reserve promotes public and donor confidence that the Foundation is stable and that funds invested in it will have a lasting impact, and doing so helps to ensure accomplishment of its mission into the future.

In other business:

Accepted a financial report showing the Foundation with total assets of $76,237.99, of which $20,750.00 is allocated, leaving $55,487.99 in unallocated assets.

Received a report that during the 2015 Toys For Tots Campaign, which the Foundation sponsored in Tuscaloosa and surrounding areas for the fourth year running, over 900 families and 2,376 children received toys this past Christmas, a 30% increase over 2014. Toy donations from individuals and businesses totaled 55,093 items. From cash donations of $18,519.00, 5,091 toys were purchased to fill shortfalls for certain age groups. A great response from the Tuscaloosa community! Many thanks to all who donated toys, money, time, and effort to the Campaign, assuring that less fortunate children in our area once again experienced hope and happiness at Christmas.

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