1. WHAT IS THE CLASS 72 LEGACY?
It is a proposal to create a lasting legacy for our UST Medicine, The Class 72 under the auspices of the USTMAAAF (UST Medical Alumni Association in America Foundation). The purpose of the legacy is to return what we have received to our Alma Mater, the University of Santo Tomas, particularly the Faculty of Medicine & Surgery and its Hospitals. This legacy can be successful in leaving an enduring gift in the form of scholarship, research, faculty development, post graduate training, care of indigent patients, or championing charitable causes, such as alleviating suffering of those dear to us.
2. HOW DO WE RAISE THE MONEY FOR OUR CLASS 72 LEGACY?
If 50 of our classmates will each give $1000, approximately one day’s wage, every year for the next 5 years, we can attain this goal of $250,000 by 2012, the year of our 40th Jubilee. The $5000 per contributor can be given either by cash or credit card in one lump sum or in 5 year installments. Please know that a contribution at any level is greatly appreciated.
3. WHY SHOULD THE CLASS 72 LEGACY BE UNDER THE AUSPICES OF THE USTMAAAF (UST MEDICAL ALUMNI ASSOCIATION IN AMERICA FOUNDATION)?
Running a public foundation requires not only a lot of time and money, but much man power and energy. The USTMAAA & Foundation is the largest and the strongest Philippine Medical alumni organization in the world. It has 3 million dollars in its cofers. The Foundation is managed by its alumni benefactors. By utilizing the resources of the USTMAAAF, we can concentrate our efforts to bequeathing the interest earnings of our capital fund rather than devoting time to the administration of a foundation. Click here for the USTMAAAF Track Record on disbursement
4. HOW DOES THE CLASS 72 LEGACY WORK?
THE CLASS 72 LEGACY funds are collected and deposited in the permanent Endowment Fund of the USTMAAAF. The principal monies will remain perpetually intact. Only 80% of the interest earnings will be spent. The other 20% will be returned and added to the principal fund. This provision is protected by the Foundation’s Constitution and By Laws.
5. A SIMPLE EXPLANATION OF HOW THE CLASS 72 LEGACY WORKS…
By a conservative estimate using a 7% annual interest rate, funds of $250,000 will generate $17,500 in interest income. 80% of this interest income, $14,000 will be spent for example, to pay for 3,000 hospitalization days for indigent patients, or to grant scholarship for one academic year for 4 deserving medical students, or to provide the medical library the latest medical books and journals. The 20% interest income, $3,500, will go back to the principal fund to offset inflation and to add up to the principal sum. The principal then becomes $253,500. Year by year, the principal fund continues to grow.
6. WHO RUNS THE CLASS 72 LEGACY?
The Class 72 Legacy will have a Board of Directors made up of benefactors. Those benefactors who have met the following criteria will have a voice and a vote to decide where to spend the interest earning of THE CLASS 72 LEGACY principal fund.
Those who have completed a $1,000 donation will be eligible to be elected for a 2 year term in the Class 72 Legacy Board of Directors. Those who have completed $5,000 or more donations will have a permanent seat in THE CLASS 72 LEGACY Board of Directors. In addition, he becomes eligible to be elected for a 2 year term in the USTMAAAF Board of Directors. The decision where to disburse the interest earning of our legacy is subject to the approval of the USTMAAA Foundation Board of Trustees.
7. WHERE IS THE CAPITAL SUM INVESTED?
The Endowment Funds will be invested in a diversified conservative financial portfolio in the United States. The USTMAAAF’s Financial Committee which is composed of Alumni benefactors oversee the investment.
8. WHO DIRECTS THE CLASS 72 LEGACY BOARD OF DIRECTORS?
THE CLASS 72 LEGACY is made up of benefactors and elects a Class President, President elect, and a Secretary. These officers serve a one year term. Twenty Five Board members are elected, each serving two years. With the exception of permanent members, the Board members can be reelected. This Board governs THE CLASS 72 LEGACY. The Class President presides over the meeting of the Board.
9. CAN THE CLASS 72 LEGACY BOARD OF DIRECTORS DIRECT THE INTEREST INCOME TO ANY PROJECT THEY SEE FIT?
We can only direct the interest income to the intent of its By-laws. The purpose of the USTMAAAF is defined by its Constituion.
Article II: Purpose. To raise, receive, accumulate, manage, invest and disburse funds for the support of the UST particularly the Faculty of Medicine and Surgery’s scholarship, research, and specialized training programs; to support the indigent patients of the UST Hospitals.
10. IS MY DONATION TAX DEDUCTIBLE?
Yes. Your donation is tax deductible since USTMAAAF is a public foundation registered under Section 501 (C) (3) of the Internal Revenue Code of 1954. Your donation will be acknowledged by the Foundation in the form of a letter.
11. I AM HESITANT TO GIVE DONATIONS BECAUSE I AM NOT SURE WHETHER THE FUND WOULD GO TO THE INTENDED PROJECTS. HOW DO YOU ACCOUNT FOR THE GRANTS GIVEN?
USTMAAA & FOUNDATION is much aware of the importance of transparency to its alumni benefactors. It has made accountability a priority for grants given. Twice a year the Executive Officers of USTMAAA & FOUNDATION meet with the USTFMS Dean, Regent, Hospital Director, and the Rector. One meeting is held in the USA and another in the Philippines during the Grand Reunion & CME Convention. During these gatherings, conditions are made on how the grants will be spent and a detailed accounting of the monies disbursed is requested. Funds are withheld if that responsibility is not met to the satisfaction of the USTMAAA & FOUNDATION leadership. We can have our classmates in the USTFMS oversee THE CLASS 72 LEGACY projects.
12. THE LEVEL OF DONORS* FOR THE CLASS 72 LEGACY WILL BE CATEGORIZED AS FOLLOWS:
Sampaguita Donors– USTMAAAF Circle of Donors($5,000 and above)
Waling-Waling ($4,000 and above)
Rosal Donors ($3,000 and above)
Ilang-Ilang Donors ($2,000 and above)
Calachuchi Donors ($1,000 and above)
Kampupot Donors (Less than $1,000)
*A donor’s category is advanced accordingly as soon as he completes remittance of his pledge.
13. WHAT UST MEDICINE ALUMNI CLASS HAS THE HIGHEST INDIVIDUAL CUMULATIVE CONTRIBUTION TO USTMAAAF TO DATE?
This honor goes to Class 1968 and Class 1969. Class 68 donated approximately
$350,000 and class 69 donated more than $275,000.
Coming third, is Class 72 Interns, which bestowed more than $170,000 to USTMAAAF.Class 1979 is a member of the Rector’s Circle with $50,000 individual class donations.Classes 1965 and 1964 are insiders of the Dean’s Circle with $25,000 donations each.
Most recently Class 1967 joined the Dean’s Circle contributing $25,000 to USTMAAAF coffers last December 2007.
14. WHAT IS THE LEVEL OF INTEREST IN CLASSMATES OF THE CLASS 72 TO DATE?
The level of interest is very high. There is high optimism that the entire $250,000 will be attained quickly.
15. DO YOU ACCEPT CREDIT CARD PAYMENT?
Yes. Credit card charges will be most convenient. It will save the Foundation operational cost. The USTMAAF Exec office can set up automatic charges on your credit card monthly, quarterly, biannually or annually, however you authorize it. A receipt is sent to you every time they charge your credit card.
16. HOW DO I GET BILLED FOR MY PLEDGE?
Fill out your pledge card. Determine how much you give initially and how much, and how often you want billed. An acknowledgment will be sent to you by the USTMAAAF for any donation you make. A reminder will be sent to you just in case memory does not serve you right.
17. HOW OFTEN DOES THE CLASS 72 BOARD MEET?
THE CLASS 72 Legacy Board will meet at least once a year. The annual meeting will coincide with the USTMAAA & FOUNDATION Grand Reunion and Clinical Convention held midyear in USA, and mid December in the Philippines. A certain day of the convention is set aside for the individual class meetings and reunions.
18. CAN I DONATE STOCKS, SHARES, OR EQUITIES TO THE CLASS 72 LEGACY?
Yes. Part of the money collected are equities. You can bequeath stocks, shares, equities, real estate, or wills to USTMAAAF. Please notate: For THE CLASS 72 LEGACY. E-mail me or call me if you are interested in bequeathing your gifts on any form mentioned above.
19. WHAT IS THE USTMAA IN AMERICA, AND WHAT IS THE USTMAA PHILIPPINES?
The USTMAAA (UST Medical Alumni Association in America) and the USTMAAAF (UST Medical Alumni Association in America Foundation) has a counterpart in the Philippines, the USTMAA Philippines (UST Medical Alumni Association Philippines) and the recently revived USTMAA Philippine Foundation. The Philippine and the USA Medical Alumni Associations and Foundations are distinct bodies, united but autonomous.
20. WHAT IS THE SICK BENEFIT FOUNDATION/MUTUAL ASSISTANCE FUNDS?
The Mutual Assistance Funds (MAF) of the Philippines and the Sick Benefit Foundation (SBF) of the United States are two organizations that work toward financially helping our classmates who have a catastrophic or a debilitating illness. It is distinctly different from The Class 72 Legacy. The purpose of The Class 72 Legacy is defined on FAQs #2. The SBF/MAF will be what Ides Santos’ designates as the rapid response fund raising arm of The Class 72 for classmates in need.
21. HOW DO I GIVE MY DONATION?
Complete the pledge card provided. Write your check or charge your credit card payable to USTMAAAF with the notation: For The Class 72 Legacy.
Mail your checks and pledge card to:
F. C. Gapultos, Jr. M.D.
321 High Pine Drive
Russellville, Alabama 35654
Telephone:Home 256-332-9764 or Cell 256-810-1360, e-mail email@example.com
You can also mail your donations directly to:
USTMAAAF Executive Office
7071 Orchard Lake Rd. Suite 333
West Bloomfield, MI 48322
The USTMAAAF Executive Office will give periodic reports on the progress of THE CLASS 72 LEGACY. In return, I will keep you posted thru THE CLASS 72 e-group network and the restricted access Yahoo Group THE CLASS 72 Website.