American Turners Endowment Trust
Officers & Trustees
Thomas R Bozonelos, President
- David Mulrooney Jr, Vice President
- Mike Coakley, Treasurer
- Jim Goetz, Trustee
- Marion Oppelt, Trustee
- John Beary Jr, Trustee
- David Liptak, National President pro temp
- Ed Colton, Honorary Lifetime Trustee
The Endowment Trust was created in 1946 by authority of the 41st National Convention of the American Turners held at Indianapolis, Indiana. Its constitution “Declaration of Trust” was written and executed on June 17th, 1947. This Endowment Trust is governed by its “Declaration of Trust” and administrated by six (6) Trustees, whom are elected by Delegates at National Conventions of American Turners. Trustee terms are six (6) years staggered every 2 years. The National President of American Turners is the seventh member for as long as he/she is the current National President. In the year of a National Convention the Trustees name their own President, Vice-President and Treasurer for a term of two (2) years each during the course of their annual meeting. Trustees receive no compensation other than reimbursement for expenses incurred during the performance of their office.
The Endowment Trust derives its funds through endowments, donations, gifts, devises, bequests and investments. It is encouraged that Members, Societies, Districts and / or individuals make contributions to the Endowment Trust for the perpetuation of the American Turner’s cause of a “Sound Mind Sound Body”. Contributions to the Endowment Trust are tax deductible. All contributors receive printed confirmation as to the date and the amount received. Contributors names are also published in the Turner Topics magazine.
Endowment Trust funds are available through grants for physical education equipment, computer equipment, a scholarship, committee awards and other worthy causes. Annual grants are not transferable. Any unused portion of a grant are not forwardable.
Also, loans to Societies with tax exempt status and are holding regular classes in physical education are available for emergency repairs, building improvements or expansion but not for payment of debts, taxes, payroll, etc.
An Endowment Trust Application form will be honored by being either post marked or received by November 30th of any given year. Any applications either post marked or received after November 30th will be processed the following year and will count in the year that it was processed. The year that the application was sent and nor processed is forfeited.
All funds managed by the Endowment Trust are expended for perpetuating American Turners. There is no payroll. Overhead is kept to a minimum having required business expenditures such as an annual financial audit that is required by law, indemnification insurance and legal counsel when needed.
An annual meeting of the Endowment Trust is held to review its offerings, financial position, creating a budget for the following year and to conduct any other appropriate business matters in accordance of its Declaration of Trust. Whenever possible, meetings are conducted electronically e.g. conference phone call, Skype, etc.
The Trustees of the Endowment Trust are open to new ideas and suggestions as to how we may best serve the Membership of American Turners and perpetuate a “Sound Mind Sound Body”.
In closing, please remit all correspondence pertaining to the Endowment Trust to:
c/o Thomas R Bozonelos
324 S. Buell Ave.
Aurora, IL 60506-4628