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SIOP Foundation Reaches More Than $400,000 in Contributions

Irwin L. Goldstein
President, SIOP Foundation Committee

As you know, SIOP has established a foundation to provide financial support and advance the practice and science of I-O psychology, thereby continuing our role in fostering a productive and prosperous workforce. As of Nov. 1, 1999, we are delighted to inform you that as a result of the generous contributions of our members, the foundation now has approximately $295,000 in assets and approximately another $137,000 in pledges for a total of approximately $432,000. We are deeply appreciative of Frank Landy's pledge of $100,000 made in honor of Bob Guion and Don Trumbo. As Frank said to us, SIOP and I-O psychology have been so important to him in his career that he is delighted to make this contribution. Over 70 of our members, including 22 past presidents, felt the same way and have made generous contributions.

The SIOP Foundation is going through various stages of development, which are described in a separate article by Lee Hakel. It is important to note that in addition to raising funds, the SIOP Foundation has also accomplished other early goals listed in Stage 1 of Lee's analysis. We are now entering a critical period where we will begin to work on the goals of the second stage, particularly on developing our vision. During this period of time, we will begin to envision what projects and grants will be most beneficial to our membership. We look forward to receiving input from the SIOP membership during this phase of our development. Please feel free to contact me and other members of the Foundation Committee with your ideas and thoughts.

As you know, we are now approaching the end of our first year of the campaign. At our annual SIOP Conference, we are planning to celebrate the close of the charter year at the dessert social. We will distribute a brochure listing all of our donors, recognize the Foundation Charter Group, consisting of members who made a $1,000 contribution this year, and the Foundation Honorary Group, consisting of members who pledged a minimum of $5,000 over 5 years. Some surprises are planned, including a lively band and other enjoyable experiences. We look forward to all of you joining us in New Orleans for this wonderful event.

SIOP professional members have recently received an updated fund raising brochure in the mail. Please make a contribution or a pledge and join the many members who have already participated in the campaign. We hope you will use the Advancement Fund to honor members and recognize achievements and other special occasions. Endowed contributions grow and give us the opportunity to help our membership in the pursuit of its goals. The Foundation is already exploring programs that will benefit our membership, and we look forward to receiving any ideas you may have. We have all benefited from SIOP and we now have the opportunity to express our thanks in a tangible and worthy form. If you need another copy of the brochure, please contact Lee at the SIOP office, (419) 353-0032 or email Lhakel@siop.bgsu.edu.

The SIOP Foundation Committee looks forward to hearing from you and to seeing you at the SIOP dessert reception in New Orleans.

Special SIOP Foundation Report

Irwin L. Goldstein
President, SIOP Foundation Committee

At a recent meeting of the SIOP Foundation Committee, Lee Hakel reported on the progress we have made with our Foundation. Her report reviews where we started, how far we have come and where we need to go. All of us were silent for a few moments after her report as the realization of what we have accomplished struck home and the responsibility of managing this Foundation was absorbed into our thoughts.

I thought this report would be a good way to bring all SIOP members up to date on where we are.

Three Stages of Development

Lee Hakel
SIOP Foundation Committee

In August 1999, The SIOP Foundation Inc. received notice that it has been given 501 (c) 3 status by the IRS. This means that gifts given to the Foundation are tax deductible. For now, the Foundation will continue to be under the auspices of The Dayton Foundation, but being a 501 (c) 3 in our own right does give us the option of becoming a free-standing foundation in the future. Reaching this milestone caused me to think about where the SIOP Foundation is now, and how far it has come in less than 4 years.

A. There is a three-stage process to building a Foundation: defining the Foundation on paper, developing a vision, and managing our assets.

We have accomplished the first stage by:

1. Incorporating the SIOP Foundation, Inc.

2. Electing a board and officers according to our Code of Regulations and By-Laws.

3. Obtaining Directors and Officers insurance through APA.

4. Establishing a formal relationship with The Dayton Foundation (TDF) to guide and protect us through these crucial formative years.

5. Contracting with a professional organization to handle our investments, which is overseen by TDF with regular reports to the SIOP Board.

6. Obtaining 501 (c) 3 status from the Internal Revenue Ser viceas a tax deductible charity, so that we hold that designation in our "hip pocket" against the day we want to be a freestanding charitable organization.

Internally, we have accomplished this stage by:

a. Organizing of the Advancement Fund and the Scholarship Fund.

b. Receiving contributions to fund three named funds: the Owens Fund, the Myers Fund, and the Flanagan Fund.

c. Beginning the awarding of money from each of the named funds.

d. Developing and circulating our first brochure.

e. Soliciting gifts and pledges from the former SIOP presidents22 of whom have responded.

f. Receiving of our first very large undesignated pledge. It alone will generate $5,000 per year, which we can distribute.

I think we have done a good job of beginning. We have accomplished the first stage.

B. We have begun to develop our vision. In this second stage we must begin:

1. Analyzing the needs of I-O psychology and SIOP, and find- ing ways to meet those needs.

2. Envisioning what projects, grants, and/or incentives will accomplish our goals.

3. Soliciting creative input from SIOP members in terms of applications for grants, projects, or other awards.

4. Raising sufficient funds so that deserving projects can be financed.

a. Soliciting large individual and corporate gifts.

b. Soliciting broadly for wide support among members.

5. Honoring those who have contributed by printing an annual report for each year.

By refining our vision we will craft the future by:

1. Designing projects psychologists will want to fund

2. Structuring a campaign

3. Conducting the campaign

4. Allocating the resources

C. The final, third stage of development is to wisely manage our endow- ment by distributing funds according to the needs of the field and agreements with our benefactors. We have begun to do this with the three named-award funds.

Obviously these stages are not discreet: We must work on them simultaneously. But in order to develop, we must move our focus from one to the other, so we don't dwell on any one stage at the expense of building the next one.

The Foundation welcomes comments and suggestions from SIOP members at any time. And, of course, your tax-deductible contribution is always welcome.

 


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