AMF Approves $10K Scholarship Grant & Finalizes Reserve Policy
At its February 4th monthly meeting the Board of Directors approved a $10,000.00 grant to the Mike Spann Detachment, The Marine Corps League, Endowed Scholarship at the University of Alabama. This marks the 5th year running that the AMF has donated $10,000.00 annually to the endowment. The corpus of the fund now stands at $80,000.00, from which scholarships to eligible Marines and their family members are awarded regularly. Please click here for more details about the endowment.
In other news:
The Board accepted nominations for and approved a 3-year extension on the Board for Forrest Fitts, Ryan Leach, and Bobby Howard. Many thanks to Forrest, Ryan, and Bobby for their past contributions and their willingness to continue their service.
And the Board, continuing an initiative begun late in 2015, approved a Board Designated Operating Reserve Policy Statement, spelling out how the Reserve shall be managed. The Board also funded the Reserve to its target minimum, one year of operating funds. Establishment of the Reserve is a milestone in the growth and development of the Alabama Marines Foundation and is a tribute to all who have worked hard to ensure accomplishment of the mission of the Foundation.