Monday, December 23, 2019

How 80-20 EF uses its $4 million

Please note that this is an EF e-newsletter

WeChat account ID is: 8020ef.  Please scan our QR code, 
shown below, & on 80-20 EF's WeChat site. For a Chinese 
version of this e-newsletter, click on
                                              Our Treasurer's Report:

    As of today, the $ value of each EF account, shown below, as reported by ourTreasurer, Dr. Wei-jing Zhu is:

Chase Bank Checking/Savings total $182,165.71
TD Ameritrade stock value$45,905.00
Zhang Financial $3,443,457.21

     Click here to note that the amount raised for SELF, Self Empowerment Long-term Fund, is $100,000 less than EF's total assets. In other words, the original goal of establishing an AsAm "self empowering" organization has been achieved. Henceforth, EF's total assets are likely to increase annually in spite of an annual expenditure of $150,000 to $200,000. That will give our community a LASTING organization with increasing financial strength.
     Want to see this goal achieved earlier and faster? Donate here.

                            Why is EF still penny-pinching? 

    Because it is YOUR money.  EF should only use it when a crisis befalls our community, or to serve your best interest when an occasion presents itself.

                           An Example of its Usage: Meeting a Crisis

    An example is if and when the threat of a new Chinese/Asian Exclusion Act or a new Internment Act looms.   There is much China-scare mixed with white supremacy sentiment going on, that such a day might come.   

    When such a crisis befalls, it is NOT the business of the Chinese-Am community only.  Remember that Vincent Chen was bashed to death by a baseball bat because 2 unemployed autoworkers mistook him to be Japanese-Am.

                 2 More Examples of Its Usage: Serving YOUR Best Interest

    (1) If and when a major threat against our civil rights occurs, 80-20 EF shall use that pot of money as the seed money to not only defend our rights but also UNITE our community.   

   As you know, human nature is such that unless a major disaster befalls all of us, people would rather be "a big fish in a small pond " than uniting and working together for our shared interest.   When a crisis comes, the $3.68 million may not be enough, but it'll allow us to react instantly and strongly, 
instead of being a sitting duck while trying to raise the money to fight it.

    (2) If no major crisis befalls us, then we'll let this pot of money grow, relying on the magic of compound interest to help us achieve another noble goal. 

      The blacks have NAACP.  The Jews have AIPAC (raising $100 million a year; $60 million budget & $149 million endowment).  What does our community have to protect ourselves and our children???  $3.68 million is not much, but a decade or 2 from now our children shall have a significant tool to protect themselves.

     You be the judge.  Is the SELF project the GREATEST LEGACY by this generation of AsAms to our children?

                           Post YOUR views  here.      Donate

Board Members of 80-20 Educational Foundation:
Alice Huang, Henry Lee, Elaine Su, S. B. Woo, Jing-Li Yu, and Wei-Jing Zhu

PS:   To see how we spent your money, click here for our IRS filings.

To know more about 80-20, view these videos :  (Ignore the last 35 secs. The election is over.)