Two good suggestionsabout EF's future president came in. We are working on it. In the meantime, we came up with a new idea.
GREAT IDEA - EF will provide you with history-making service, after SB has left. We present this STRATEGY below for your comments. We invite you to TOGETHER think BIG!
One reason for the Jewish political clout is its great resources. Click here to verify that AIPAC has a $140 million endowment that is growing. Yet it spends $60 million annually. What if EF were to spend the next 20 years to grow its current war chest of $3 m. to the range of $19 to $39 million to serve you and your children?
Under this plan, EF shall continue its political education mission by sending out weekly e-newsletters and expanding its email list. However, EF may not engage in as many rough-and-tumble political battles, since that could be too demanding on a new president.
EF can achieve the HUGE WAR CHEST GOAL,
with conservative assumptions.
(1) SB will retire after EF has invested $4 million in Zhang Financial*. It'll probably take him 3+ yrs., working like a dog. EF has a $3 million war chest, but the amount of money in Zhang Financial is only $2.76 million, with the remainder in its cash checking account.
(2) After that, a new president will come in who is committed to raise at least enough money for EF's minimum annual expenditure, which is $150 K. Indeed, he/she is prohibited by EF Bylaws article 6 from dipping into the principal & interest already in Zhang Financial for 20 years. We think seeking out such a president is more likely, although it'll still demand lot of sacrifice from this president.
(3) EF will enjoy average luck. Its average compound interest rate over a 20-year period will range between 8% to 12%. The above is based on the knowledge that the average annualized return of the S&P 500 Index was 11.69% from 1973 - 2016. We are also aware that "Past performance is not guarantee for future returns." So nothing is absolutely guaranteed.
A $19 to $39 Million War Chest for Our Children!
A Compound Interest Calculator is used to find the result of the above strategy. The initial investment is $4,000,000, the investment period is 20 yrs, and the expected return rate is 10% +/- 2%. In the chart, the 12% return is indicated by the black line, 10% the red line, and 8% the green line.
It takes money to make money, especially when it comes to relying on compound interest. To the best of our knowledge, a $4 million endowment, common among Jewish non-profit orgs., is the largest endowment possessed by an AsAm 501 c-3 organization. So if EF does NOT step forth to endow our community with a significant war chest in 20 years, who will?
EF strongly believes that this ambitious plan will lift our community to the next higher level of political empowerment of Asian Americans. There is no reason that we can't do what the much smaller Jewish community has already done.
We need to live up to our generational responsibility to our children -- give them EQUAL opportunity! Click on 80-20ef.org/posterboard to share your view of this strategy. Together, we shall overcome.
*Zhang Financial, a Fee-Only Financial Advisory Firm, is doing a wonderful pro-bono job for EF. Charles Zhang, a former 80-20 Board member who also donates $5000/yr to EF, is ranked #8 in the nation on Forbes' list of America's Top Wealth Advisors for 2007 and is the highest ranked Independent Advisor on the list.
PS: Are we winning in the court of the public opinion? You be the judge. Just read the title of this NY Post article by Linda Chavez: