Giving Opportunities - Friends of the Orphans

Fr. Wasson Legacy Endowment, Inc.
Fr. Wasson Legacy Endowment, Inc.
(FWLEI) is a nonprofit, nonsectarian
501(c)(3) organization incorporated in
Delaware in 1995. The purpose and
mission of FWLEI is to create a
substantial and growing financial
corpus (the Endowment) that will
generate income and help provide
long-term financial stability for
Nuestros Pequeños Hermanos.
Directors are nominated by Friends
and elected to represent geographic
areas paralleling the regions of the
Friends offices. The Executive
Director of NPH International and
CEO of Friends are ex-officio voting
members of the Board of Directors.
The representative of Friends of the
Orphans Canada is a non-voting
advisory member due to the limitations
of Canadian tax laws. The Friends
offices and NPH Mexico raise funds
for the Endowment. Donors receive
receipts from Friends, which may be
used to obtain deductions from U.S.
taxes as provided by law. FWLEI may
make an annual distribution from
earnings to Friends for support of the
NPH homes.
FWLEI Board of Directors
OFFICERS
John D. Zicarelli, President
J. Thomas Maher, Treasurer
Claire H. Topp, Secretary
DIRECTORS
Brian Arezzo
Placido (Pete) Blanco
Brian Blue
R. Jean Gray
John Iberle
Jeanne Krafft
Anna Lammerding
Larry W. Lawinger
Harlan Loffman
Lic. Fernando Gres Lozano
J. Thomas Maher
Sharon Saxelby
Mark Teresi
John D. Zicarelli
Legal Counsel
Claire H. Topp, Partner,
Dorsey & Whitney LLP
10 | friendsoftheorphans.org
President’s Letter
Dear Friends,
Thank you so much for your support of the Father Wasson Legacy
Endowment Fund. Because of your generosity, the fund continued to grow
and to provide significant support to the children of NPH. Major milestones
during 2010 were:
• The fund had a net asset value of $10,444,725, crossing the $10 million
milestone for the first time.
• In January 2010, a distribution of $373,000 was made to Friends and NPH.
• The day after the earthquake in Haiti, the board authorized an additional
distribution of $100,000 specifically for emergency relief efforts.
• The full board voted to make a 2010 year-end distribution of $400,000 for
the benefit of the children.
These distributions display the tremendous benefit of the Endowment and
that your gifts keep on giving every year. In little more than two years, the
Endowment has distributed over $800,000 for the benefit of the children of
NPH. The distribution policy established in 2008 allows us to provide 5% of
the market value of the unrestricted funds (assuming we do not violate the
corpus) every single year. In addition, the Endowment has the flexibility to
respond immediately to emergency situations.
We would like to acknowledge the contributions of Mark Teresi, who retired
from the board in 2010. We would also like to acknowledge the excellent
performance of our investment manager, Vic Ziminsky, at Morgan Stanley
Smith Barney with oversight from the board’s investment committee.
The fund has completely recovered from the equity market challenges
in recent years and now has a significant margin in excess of the original
contributions. This result positions the Endowment well for significant
future contributions to the children of NPH.
In closing, we have made a good start towards creating an Endowment
that can support the mission of NPH long into the future. Your continuing
contributions and support are the keys to building an ever-stronger base
for our mission. Right now is an excellent and unique opportunity to
contribute to the Endowment. In commemorating the fifth anniversary of
Father Wasson’s death, the Board of Directors has pledged $100,000 to
match any donations given to the Endowment in 2011. This means that all
contributions made this year (up to a total of $100,000) will be doubled!
For more information, please call Friends of the Orphans at 1-888-201-8880
or visit www.friendsoftheorphans.org/Challenge.
Sincerely,
John Zicarelli
Past President (2010)
FWLEI