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RE: AMSAT goals and future?



Barry,

I guess you missed the part about Eagle costing about ten times what Echo
costs. So your suggestion implies that we take out $2,100.000 from AMSAT's
reserves. There never has been anything close to that available, so the
question is ridiculous.  The financial statements are on the Web for all to
see.

The Reserve is for whatever AMSAT wants to use it for.  There is good reason
to keep the reserves high to cover unforeseen downturns.  In the case of
Echo it was felt that the use of a portion of the reserves was justified to
get a useful and popular satellite launched as an investment in our future
and in hopes of getting back some of our declining membership, which would
in turn replenish the reserve fund and make AMSAT a healthier organization.
I certainly hope that will happen.

Rick
W2GPS
AMSAT LM 2232


-----Original Message-----
From: Barry - VA3BJD [mailto:va3bjd@rac.ca] 
Sent: Monday, February 16, 2004 7:55 AM
To: Rick Hambly (W2GPS)
Cc: amsat-bb@AMSAT.Org
Subject: Re: [amsat-bb] AMSAT goals and future?


On Feb 16, 2004, at 7:10 AM, Rick Hambly (W2GPS) wrote:

> Most of these assumptions are still valid. The impact on AMSAT's 
> reserve
> funds has been minimized through many donations and now through the 
> launch
> fundraising campaign.
>

The launch campaign has recouped 50,000 so far. I heard a figure of 
350,000 cost for Echo.  Even if the Fund raising is successful it will 
represent a recovery of 1/3 approx.  Can we expect 60 percent funding 
for Eagle from the reserve? Or at least equivalent money from the 
reserve towards Eagle.

Interesting you should consider a +200K withdrawal from the reserve a 
minimal impact. Looks excessive to me.  Especially for a satellite that 
seems to get mixed reviews from the membership.

Is the Reserve for funding satellite projects? If it is when can we 
expect the big check to be written for Eagle?  Now that: "The impact on 
AMSAT's reserve funds has been minimized through many donations and now 
through the launch fundraising campaign."

We can now afford to funnel some Reserve money towards the Eagle.

If the Reserve is not for funding Satellite projects why did it fund 
Echo?

73
Barry


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