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Financial Matters

The Barker Center (The Old Freshman Union)

The Barker Center
(The Old Freshman Union)




Harvard College Fund Update

Lucy Schuldt and Miriam Perez Putnam, our Harvard College Fund liaisons, report that as of February 28, 2018 the class has gifted or pledged $270,577 from 177 donors (24.9%). There are currently 40 Associates.
Stay tuned! And if you haven’t contributed they hope you will do so.

Harvard College Fund Progress (as of Tuesday, January 23)
Current Gifts and Pledges: $187,607 (almost $80,000 increase from last month!)
Current Participation and Donors: 164 donors (22.95%)
Current Associates Donors: 39


Financial Matters Class Committee Meeting, 08/02/17

Treasurer's Report

Treasurer Dick Zwetsch directed those present to his written report. During the past year, 214 classmates (including 33 from Radcliffe compared to 14 last year) paid dues totaling $8,225. The number of classmates giving was slightly higher than the 6 year average and the dollar amount set a new high. Dues were increased last year.

Income for the 12 months ending June 30, 2017 was $10,327.09 with expenses of $8,227.61 resulting in income exceeding expenses by $2,224.43. The major change was the Miscellaneous Income of $1,986.04, which represented the inclusion of the previous separate Secretary's account.

Renny explained that he had closed out his Secretary's account as the bank was now charging $10/month, while interest accumulated at only $.02 /month. The account was primarily used for expenses related to five year class reunions.

Expenses for the BURP luncheons in Boston and New York were up, combined about $800, in Boston by higher that expected audio-visual charges and in New York by increased costs. The cash position was $22,496.20 as of June 30, 2017.

Upon a motion duly made and seconded, it was unanimously

VOTED: to accept the Treasurer's report and place it on file.

The Committee thanked Dick for his continued fine job in managing the Class treasury, and distributing information to Committee members.

Harvard College Fund report:

Participation Co-Chair Dick Marson provided the numbers for FY 2017 for our Class Fund Agents Carl Goldman, Bill Lawrence, Peter Malkin and David Watts, as well as Co-Participation Chair Jim Carter and John Harvard Chairman Jim Barrett. The Class contributed $206,046 to the Harvard College Fund. There were 286 donors, representing 40.02% of the Class. 57 Associate Donors gave $1000 or more. Dick initiated a day-long phonathon at the Harvard College Fund's office in Cambridge which proved successful, and he plans another in the future. Dick thanked. all Harvard and Radcliffe classmates who made calls on behalf of the Class.

Our talented and cost conscious webmaster Bud Helfant points out, "if some classmates should inquire why $5,583.15 is needed 'to cover the cost of purchasing and maintaining our own class website' you might want to point out that the cost for the first year totals $196.95 with anticipated cost for each of the following two years of ca. $34.95."

Treasurer Dick Zwetsch has received the final accounting for our 60th Reunion and 60th Harvard/Radcliffe Reunion Report and Chap Book from the Harvard Alumni Association.
Reunion expenses totaled $73,062.21. Registration revenue totaled $65,584.21, which produced a deficit of $7,478.00.
The cost of 60th Class Report and Chap Book, provided a surplus of $13,061.15.
As in the past, the surplus was used to cover the reunion deficit which produced a total surplus due to the Class of $5,583.15.
Dick noted, "We will use the surplus to cover the cost of purchasing and maintaining our own class website," http://www.harvardclassof1955.org/
Bob Blacklow, Renny and Jean Little and David Wise join Dick in thanking all classmates for contributing to the Reunion, 60th Class Report and Chap Book.
Dick reports that the Class is in good financial shape to start the New Year.

Treasurer Dick Zwetsch reports that the Class is in good financial shape and thanks all who contributed to the recent request for class dues.
David Wise
and his committee also thank contributors to the Class Assistance Fund (CAF).

Harvard College Fund
Dick Marson
reports that as of December 12, 2012 our class has raised $84,460 in gifts and pledges
with a participation rate of 26.4% for the current 2012-2013 year.
He wishes to thank all those who participated in the fall phonathons in Boston and New York, and sends
his best to all for the holidays and a happy and healthy New Year.

Class Treasurer Dick Zwetsch reports that during the past year 218 classmates (including 12 from Radcliffe) paid dues totaling $6,980. The number of classmates giving was down 14% from a year ago but the dollar amount was the highest in the past 7 years, reflecting the increase in dues to $30. Income for the year ending June 30, 2011 was $6,980.00 with expenses of $8,469.55 resulting in expenses exceeding income by $1,489.55.

The cost of printing and mailing the Addendum continues to increase about $200 a year. Expenses for the two New York luncheons of $381.90 were less than the guidelines approved at last year’s Class Committee meeting. Miscellaneous expenses included $810 for the projector used at BURP luncheons, which will save money going forward. (The Harvard Club’s rental fee for a projector was over $350 per one-time use.)

The cash position of $20,164.84 as of June 30, 2012 is down from a year ago, reflecting that expenses exceeded income. “No capital expenses are projected this year, and so we expect to break even.” Dick indicated that no capital expenses are projected this year so we expect to break even.

The Addendum has gone to press with a suspense date of the first week in September.

Treasurer's Report:

Dick Zwetsch reports that During the 2009-2010 academic year, 181 classmates (including 14 from Radcliffe) paid dues totaling $5,345. This continued the decline in classmates contributing, first noted the previous year. The dollar amount was up slightly from last year but down from previous years.

Income for the year ending June 30, 2010 was $5,694.50 and expenses of $7, 480.38 resulting in expenses exceeding income by $1, 785.88. Investment income was down, and the Yale game bus lost money as fewer members took the trip, and unexpected expenses at the final BURP luncheon resulted in a larger loss than expected.

Despite the year loss the cash position as of June 30, 2010 was $22,000.92. CDs were not renewed to have funds available, if needed, for the reunion.

Several trends which we should recognize. The number of classmates will continue to decline, an uncertain economic climate for the foreseeable future will adversely affect dues and contributions and low interest rates will limit our potential investment income. He feels that our current level of activities are reasonable and appropriate will result in a slow erosion of our strong financial position.

As of November 11, 2010 229 classmates have contributed $5,910, which is ahead of last year at approximately the same date.
86 classmates have contributed $5090 to CAF, which is also ahead of last year.

Harvard College Fund Report:

The Class raised $8,596.517 for its 55th Reunion gift from 553 donors representing 59.1% of the Class. Both figures surpassed the fundraising and participation goals set by the Class. Thanks to all classmates who participated in the effort, along with the able assistance of Vicky Cabot and Lauren Roller from the HCF office.

Class Assistance Fund (CAF):

Chairman David Wise reports that during the past year, (July 1, 2009 to June 30, 2010) CAF made two gifts totaling $4,600 to two different classmates. In addition six gifts were made in memory of deceased classmates totaling $150, all to specific charities designated by the classmate's family.

The Fund received non -tax deductible contributions of $3,285 from 62 classmates (including $170 from five Radcliffe classmates) compared to $4,085 from 68 classmates last year and $6,145 from 96 classmates the previous year. The '10 total was the least amount since the '01-'02 year.

The Fund, in its 15th year, has received a total of $46,785 from 201 different classmates and has made "unexpected gifts" of $40,808 to eight different classmates and 57 Memorial gifts totaling $1,425. As of June 30, 2010, it has a current balance of $7,831,41, ably maintained by the Class Treasurer Dick Zwetsch.

Recently, the Committee added two new members. Phyllis Yood Beineke and Jean Hardy Little.


And a very happy Thanksgiving to you and yours.


Regina Gittes Greenspun, who chaired the reunion fundraising for Radcliffe '55's 55th reports that donations to Radcliffe's Schlesinger amounted to $27,600 and those to the Harvard College Women's Center, $11,000. "Many thanks from Radcliffe '55 to our Harvard classmates who contributed so generously to our two fund-raising projects."


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Last updated 03/06/18