Securing the future
Happy New Year! We have just had our 2019 Annual Summit, which is the highlight of all our national events and a joyful gathering of more than 450 Legatus members from across the continent. At the Summit, we announced exciting news that in 2020, we will be going back to having two Summits a year. As a result of our growth, we want to make the Summit available to more of our members. Each Summit will not be identical, so we would love to have as many members as possible at both events.
I want to take the time to also touch on our endowment fund. In your renewal invoices, we give the option for members to donate to the fund. The fund is meant to ensure the growth and longevity of Legatus. Each year, we have members give between $15K-$30K. Your previous generosity in giving above and beyond your dues is nothing short of inspiring, especially as we continue to aim even higher in our goals. Each of you is part of a chapter that, at one point, was in development. We recently ran the numbers on what it takes to develop a chapter and it is a NET cost of $50K. This is by far the largest expense in our budget. However, how can we say “no” to growth when we can see the impact on all our lives and the amount of souls it has brought back to Christ? Throughout our 32 years, Legatus has had a great benefactor in its founder, Tom Monaghan, who has given over $13 million to Legatus and continues to pay his own way in all ways (dues, Summits, pilgrimages). But we are self-sufficient now and should not continue to count on his generosity.
Our goal in 2019 is to develop at least 12 new chapters, which equates to a net cost of $600K. Our national budget is not built with a surplus of $600K, so where do we get it? Either a chapter founder funds the development (we have had many of these before, such as Tim Busch or Joe Canizaro), we utilize funds from the endowment, or we raise dues $200/ member. I believe our two best options are to find chapter founders and to increase our endowment.
A possible fourth option is for those chapters that have excess funds year to year, to sponsor and/ or adopt a developing chapter. This is a way for a chapter to be involved in the future growth directly and put their excess funds to the best investment out there.
Between pages 38 and 39 of this issue, you will find an envelope where you can make a fully tax-deductible donation to the Legatus endowment fund. Please consider making a gift, and also consider naming Legatus in your will. You know the impact and potential Legatus has in our world. Let’s work together to secure that for many years to come!
STEPHEN HENLEY is Legatus’ executive director.