It was hot. It was South Georgia in August on a hot tarmac. I was seven years old, and my dad was competing in the Region V Soaring Championships in Cordele. They had just finished launching, and I knew the excitement was over for four or five hours until they returned.
Off in the distance, I saw a man holding a model glider. He stretched out the hi-start and up it went. I watched in amazement. It was the first time I had ever seen a radio controlled airplane, and I was hooked.
The next spring, we got a Wanderer 99 kit and a Kraft radio. My dad built it while I “helped.” I still remember the smell of the MonoKote. We learned how to fly by running and throwing, eventually progressing to a hi-start. The hi-start led immediately to learning how to scratch-build and repair a crashed airplane, with a releasable towhook this time. The Wanderer provided many hours of fun and bonding between my dad and I as I grew up.
My story is probably the same as many modelers. Plenty of flying as a teen, less in college, hardly any while starting my career, and more as I got older. One of the greatest rewards from this hobby is being able to share it with others.
I am honored to be asked to serve as AMA’s chief financial officer (CFO). Gary Fitch introduced me last month. Professionally, I have spent 23 years in the financially industry. I manage investment portfolios for wealthy families, individuals, foundations, and organizations.
I am active in the Cincinnati community, where I currently serve on the United Way Program Oversight committee. This committee evaluates how effectively various organizations utilize United Way funds.
Within model aviation, I have served as an officer in two different clubs and competed in International Miniature Aerobatic Club (IMAC) for the past 12 years, although, using “compete” is probably an exaggeration. I look forward to serving as your CFO.
Since accepting the position, I have been to a budget-approval meeting and my first Executive Council meeting and looked through previous years’ books. AMA’s staff, under Dave Mathewson’s leadership, has done a wonderful job of providing more for our members while streamlining the budget and reducing expenses. I spent time working on the investment accounts and discussing with our advisers how to best position these assets for the coming years.
The Academy of Model Aeronautics Foundation
As you have seen elsewhere in this edition, the AMA has established a foundation. Many donate to AMA each year. It ranges from a couple of dollar bills placed in the jar at the museum to an occasional large donation left in an estate. The foundation will make those donations easier to track and show what they are used for.
I believe everyone is charitable to some extent. They tend to donate to causes and organizations where they feel a connection. If you have read this far, then I am willing to bet that you feel strongly about the AMA. Although donating to AMA is encouraged, I want to show you some ways that could help maximize your donation.
First of all, I am not providing tax advice. This is general information that applies in some cases. Please consult with your tax adviser to see if it would apply to you.
Donations to the foundation, in many cases, are tax deductible, just as a donation to the local arts campaign, museum, etc. can be tax deductible. Take your donation amount and increase it by the tax savings you will incur.
Many large companies have a fund set aside to match donations made by their employees. Check with your human resources department to find out. When you make your donation, contact them to complete the matching-gift process. This is a nice way to double your donation.
Consider leaving a portion of your estate to the AMA Foundation. Your attorney can draft specific wording into your will to ensure this happens.
If you are blessed with great wealth, contact your financial adviser and ask about using one or more of the available charitable trusts during your lifetime. There are tax advantages for you during your lifetime, and the charity will know of your gift if you wish.
Don’t wait until you hit the lottery. Chances are it will not happen. Donations at any level are appreciated and are very important. It works the same way as shaving weight on a model airplane. If you want to save a pound, you do not just go and cut a half a pound out of two places. You shave a half an ounce here, an ounce there, a few grams elsewhere. In no time, the model is more than a pound lighter.
New Year’s Resolutions
If one of your New Year’s resolutions is to get in better shape, I am with you, and I have a challenge for you. At Joe Nall Week last May, there was talk about hosting the inaugural Triple Tree 5K. If you want to be a part of this event, you need to train for it. If you have never been able to run in the past, search the Internet for a Couch to 5K program. Most take 12-16 weeks to complete, and that is perfect timing for Joe Nall.
If there is a subject you would like for me to address or just have a question, please send me an email.
