the  m p w c Foundation,  inc. 

Our trustees
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UNDERPROMISE and OVERDELIVER

What are our Trustee's duties and responsibilities? 

Our Current  Trustees:

Finch, Dennis - independent representation of the Unitarian-Universalist Fellowship, at the Posada de la Aldea, Ancha de San Antonio #9, San Miguel de Allende
Peeters, Chris - Director of Feed the Hungry, an outreach program of St. Paul's Anglican Church, Calle Cardo, San Miguel de Allende
Wein, Michael - President and Founder of this Foundation, Suspiros 14, San Miguel de Allende

In March of 2012, a calamitous combination of events worked to create a life crisis for our Founder.  As a result, he made every possible compromise that he could that would enable him (and the Foundation) to continue to perform ALL of its previous pledges and guarantees but which nevertheless would, as an unfortunate result, require the Foundation to dissolve itself shortly after his death.  This is because the one thing he could not fix was the succession to his position (like previously planned before the abovementioned life crisis).  You can read more about this in the first four paragraphs of the replace founder webpage.   So, as a result of this intention to close the Foundation within the first two to three years after his death, the following  paragraphs of this Trustees webpage have been amended and certain no-longer-applicable portions have been deleted (illustrated this way, by crossing them out) and others occasionally by inserting newly applicable portions.

Future Trustees of the Foundation:

The operating procedures of the Foundation call for replacement of the three current Trustees, whenever necessary from time to time, with two new Trustees, drawn directly from each of our two major original grantees.  The replacement of the Founder, Michael Wein, as Trustee, is to occur after his demise or inability to function in a fashion stipulated by our by-laws and this Trustees webpage (see founders will and the section at the bottom referring to the By-Laws Article IV - Trustees, clause #5  --- click here on replace founder to find instructions to aid any new replacement Trustee).

In accordance with the restrictions written into the Founder's Estate legal documents (The Michael Wein Trust Agreement),  current and/or future Trustees are not allowed (by these instructions and other legal constraints) to ever subvert the wishes and the direction shown in these "duties and responsibilities of the Trustees"  as they are written now prior to the death of the Founder of this Foundation. All changes must be made by the Founder and therefore must be made prior to his demise.   Most especially, grant policies are not to be changed, nor can any amendments to the by-laws be made, unless the laws of the State of Texas, or of the United States of America, require that very specific changes be made.  

Although there should be no changes after his death from what the Founder specified on this web-site, any changes that do become necessary by virtue of changes in laws (or ANY other reason) must be fully disclosed at subsequent changes and you, the reader, can complain to all overseeing authorities and/or other beneficiaries if the changes do not appear appropriate.  The following paragraph describes this.

The Founder's Trust Agreement (and other estate documents) describes the conditions of his bequests and a copy of the applicable clauses can be found at founders will, specifically the section marked "d-restrictions on the use of the endowment ... ".  In case of any conflict in instructions, the Schedule C portion of the Founders Will must take precedence.

In the unlikely event that at a later date some instruction, provision, requirement, or other dictum (hereinafter "provision") listed on this web-site, is adjudged by a court or other legal entity to be illegal, that judgment shall not effect any other provision made on this web-site.

No funds of this Foundation may ever be used to ever attempt to overturn any provision made by the Founder on this web-site.

Who should read this page:  All current and future Trustees, all grantees (in order to understand the Trustee's duties insofar as they apply to the grantees), the default beneficiaries of the Founder's Wills (insofar as they may have to take control of the Foundation under certain potential circumstances), and all outsiders who wish to monitor the actions of the Foundation or its Trustees.

To aid each reader, be aware of the following.   As our Foundation, and its grantees and other readers of this web-site, have all matured in our relationships with each other, some of the information below this line may have become less important now than it had been in the past.  If that is so, it remains here for historical continuity and for the newer reader who may still find this information necessary or useful   In places where something is blatantly unnecessary or out of date, that section may be crossed out to signify that it probably is unnecessary reading

Summary of this page -- On the rest of this page, you will find information regarding:

1-The duties and responsibilities of the Foundation's Trustees

2-Grant making concepts and procedures

3-Investment policies and procedures

4-Writing Grant checks and other checks

5-Texas and IRS address of the Foundation

6-Financial Reports of the Foundation

7-Fiduciary responsibilities of the Trustees

8-Appointment of New Trustees

9-Special treatment of certain grantees and potential grantees

10-Our Guarantee to grantees that our funding operations shall never change (with only one potential exception)

11-Changes occurring after the death (or disability or resignation) of the Founder

12-The minimum duties of the Officers of this Foundation after the Founder's death or disability

13-Compensation of Officers and Trustees

14-Restrictions on the actions of the Trustees specified in Founder's Trust Agreement

 

1- THE DUTIES AND RESPONSIBILITIES OF THE FOUNDATION'S TRUSTEES

This document is intended to instruct current and future Trustees on the goals of the Foundation and their part in helping the Foundation reach those goals.

This may be changed ONLY by the Founder during his lifetime (and by no one after his death), to instruct and further define the duties of the Trustees.

The regular and ordinary agenda for topics for discussion at Trustees' meetings are grants to be made, monies available for grants, review of the progress and status of prior grants, financial statements and disclosure attachments from grantees, annual certification letters, and other annual reports from grantees, grant recommendations, and review of the Foundation's own financial status.  The additional normal requirements of any organization (like new officers and Trustees, etc.) shall also be on the agenda.

At some various times after the death of Michael Wein, as a result of his formal and legal Estate Documents  (see references to the portions pertaining to this Foundation in the founders will),  the Foundation will have at its disposal a minimum of us$4,500,000, and most probably more, to be used as its endowment. This endowment will arrive in two major transferrals (the first is the IRA-Rollover account assets, the second is the two packages of Segregated Assets).  Therefore, except for the cash to be received as a result of any other beneficiaries who have pre-deceased the Founder, the Foundation will have mostly securities as its initial endowment. (See also below "#3--Investment Policies" for details regarding the use of cash received.)  The income from these securities, plus any net appreciation accumulated from occasional sales of securities (that is, net  appreciation on all securities investments cumulatively since endowment's inception) may be distributed in grants to organizations that meet the criteria set by the Foundation's By-Laws, and "Our Goals and Mission", and the pages of this Web-Site (although primarily, this "Trustees" page).  However, in 2012, with the new plan to dissolve the Foundation within two or so years after the Founder's death, this should be accomplished in accordance with the  allocations webpage's instructions.  

This post-Founder's-death period probably would be a transition period wherein heed must be given to the USA Internal Revenue's (current at that time) regulation under (what is now) the 5% rule wherein 5% of the MPWCF's net value must be calculated so that the distributions must be at least an "average" of 5% over the X number of years between the endowment increasing AND the final dissolution down to $0 again.  It is critically important that the Trustees of the Foundation consult the then-current rules for Non-profit Charitable Organizations' (mostly Sec. 501(c)3) distribution requirements so as to avoid any expensive IRS penalties for non-compliance.  That would be prudent and absolutely necessary.

The agreements with Jovenes Adelante and Feed the Hungry, both shown in the paragraphs below, have been superceded by the 2012 changes, that of closing down the Foundation within 2 or so years after the Founder's death.   Therefore, it is the allocations webpage's definition that should prevail from now on.

There used to exist an agreement that before the Founder's death, Feed the Hungry will receive annually, at minimum, $1,000 a year, and after the arrival of the us$3,500,000 or more endowment (shortly after his death) 25% of any funds that are distributed as total grants for each year. That agreement no longer applies as FTH has ceased (for too many years now)  to provide financial information, thereby abrogating the agreement. However, the agreement that some outreach activity (preferably Jovenes Adelante) of the Unitarian Fellowship of San Miguel will receive annually, at minimum, $1,000 a year, and after the arrival of the endowment, at least 15% of any funds distributed as total grants each year, is likewise abrogated.   Once again, the allocations page percentages shall now prevail . The grants to both FTH and UU are and have always been contingent upon their continuing to meet our requirements, most importantly the financial disclosure (transparency) and continuity of operations requirements.  Check the allocations page after the Founder's death to see if either, or both, of these organizations are, or are not, eligible for grants.  If not approved, grants to either of them or any other organization not approved, may only be made in accordance with the allocations page.

As of March, 2011, both Jovenes Adelante and FTH (subject to their individually continually meeting our requirements) have been changed to tentatively being recipients of 30% of any funds distributed as total grants for each year after the Founder's death.  FTH has yet (as of August 2013) to meet any of their requirements as they had repeatedly promised that they would.

Even if satisfied by the above requirements, all on-going grantees in San Miguel must meet all requirements shown on the Checklist (summary) and underlying templates webpages.  Because of their long history and the Founder's knowledge of that history, the "default" Grantees, the ACLUF and Rider University, and the other USA alternatives to any San Miguel grantees DO NOT have to meet these requirements now or in the future.

See more about the duties and responsibilities of the Trustees on the critical webpage and on the replace founder webpage.

 

2-GRANT MAKING CONCEPTS AND PROCEDURES:

In addition to the criteria set forth above, the Trustees should consider the Goals & Mission of this Foundation and how each prospective grant complements those goals.
Criteria for minimum and maximum distributions should include, at least, the following:

---that the Foundation ---that our Foundation always pays out at least some amount between 80%-100% of that year's cash available (including cash from sales of appreciated securities), but never digs into its original endowment, as calculated cumulatively after it has been adjusted upwards for inflation's impact on it.  

---that our Foundation overhead never exceeds 1% of total income (excluding appreciation gains). 

---that no one charity receives more than 30%, no two charities more than 60%,  no three charities more than 80%, and no four charities more than 95%, of the year's distributions.    

--- that San Miguel charities be the primary recipients of grants.  However, if this is impossible to do in the absence of sufficient grantees, the Trustees are to make distributions to the USA default charities in lieu of San Miguel charities.  This latter clause is a default provision which comes into play only if this Foundation does not operate in accordance with the Founder's wishes as described on this web-site, or if sufficient eligible organizations in town have not been found that meet our stated requirements.

 

  3- INVESTMENT POLICIES and PROCEDURES  (with the Foundation terminating in 2 to 4 years after the Founder's death, this section has two constituencies:
  the Foundation's Trustees  
  the GRANTEE's own administrators - this section is for YOU - if you choose to sell a security that I bequeath to you, you should have read (and read again and understood) this section as it is NOW written for you.

When it later becomes necessary to invest excess cash from whatever source, Trustees of any Endowment Fund (whether that of this Foundation OR of any of our Grantees) may only invest in highly liquid securities traded only on the NYSE and NASDAQ. Securities must be safe and more likely to produce current income, as opposed to capital appreciation. At least two/thirds of the Trustees (or each Grantee's Investment Board - don't tell me you are allowing ONE person to do this all by him- or herself) must agree on any investment decisions, whether buying or selling securities. Investments must be diversified and conservative. Projected current income from new investments should meet certain criteria, such as longevity of continuing dividends, a conservative ratio between actual earnings and the dividends paid out of such earnings, constancy of earnings, etc.  While the following thought need not be the final authority on what investments will do best in the future, the Trustees who are in office immediately after the death of our Founder, might consider looking at the Founder's entire (not just the ones that are transferred to this Foundation) portfolio of securities owned and see if any of the bulk of those securities might make suitable investments.   And, in general, the endowment should be mostly invested in equity instruments (common stock) rather than bonds or preferred stock.

I think that to aid the Trustees reduce their searches for proper new investments, many or most of the investments might well be ETFs which are preferred much more than mutual funds (even though they are similar) for this Foundation.  The webpage on ETFs should be read as well as considering the list of ETFs that are at the bottom of that page as recommendations for purchase (at least they were, back in 2005 or so - this quite likely has changed).

As described in #1 above, the initial securities will arrive at the Foundation's door as a result of execution of the founder's will, after the death of Michael Wein.   Any cash received from the Founder's estate (or from sales of securities from the Foundation's own portfolio) may be retained for current grants or  slowly invested in long-term securities over a minimum period of one year, or possibly even longer, while temporarily being held in taxable ("taxable" is a catagory, even though non-taxable to this Foundation) money market instruments until they are invested in long-term securities.  Since it is always impossible to tell, at the moment of investment, whether the investment climate is getting better or worse,  it is suggested that the movement into long-term investments be spread out over this one year (or longer) period of time.  Monies held in the interim period should be held in a taxable (not-tax-free) money market mutual fund provided at any brokerage firms. Bonds should be used only in a period of exceptionally high inflation when the bonds are already highly discounted so that any potential future increases in interest rates will not impact adversely on market values of the bonds.  But, it should be emphasized that Bonds, Money Market Mutual Funds, and the like, are ONLY short-term investments as I wish the Foundation's assets to be invested in long-term securities and/or ETFs.

I would hope that there is little or no buying or selling of securities for the most part as  I have found that NO ONE in this world is good at timing such transactions, so buying and holding securities (in boring but good companies) generally is the best investment plan but where necessary, the rules I leave behind are:

Any Trustee may suggest buying or selling all or part of an individual security.  However, the decision to buy or sell an individual security must be made under the following circumstances:

The Trustee that replaces the Founder AND one (preferably two) of the other Trustees agrees with this decision.
This decision is made using the Peter Lynch 2-minute drill wherein the originator of the idea to buy or sell has two minutes to give detailed true reasons for the decision including:
why the security is (or is not, if selling) a long-term moderate growing company, 
is underpriced (citing price/earnings ratios, price/sales ratios, price/growth ratios - see note A below, and/or price/cashflow ratios), is a solid value, is a turnaround story, dominates its rivals, effects our portfolio's diversification needs, etc. 

If all 3 Trustees do not agree, the dissenting  Trustee should state why he or she feels that this is not a good decision.  And, as part of this exercise, know that Ben Graham Value Theories are to be the watch-word of our investing practices so that we are buying and holding stock in companies that are good "values" as opposed to "growth potentials".   There is more likelihood of long term sustained growth coming from most "value stocks" than from most "growth stocks", as incongruous as that sounds.

Because dividends and other income will not normally match the 5% minimum amount that this Foundation must distribute to grantees each year, obviously selling of parts of our portfolio may be sometimes necessary  to raise cash for making such annual grants.  While I've emphasized "buying" in most of this page, "selling" is just the opposite of buying.  SELL what is not worth buying at this time, but just a few more ideas come to mind.  For diversification purposes, sell what industry or specific company we have too much invested in.  Also, attempt to sell the lower yielding securities more often than the higher yielding securities.  This is also true for the high-flying "high P/E" stocks.   Assume, since you can't do any better than this yourself, that most widely-traded, widely-owned stocks are priced at reasonable prices considering the "news" that is available to all. Do not try to out-guess the "market" (the experts who are closer to the current truths than you are here in Mexico) even though NO ONE KNOWS what tomorrow will bring in the way of newer news.

The following very small type instructions can be overlooked as it is there ONLY for the person who desires a lot of extra input from the Founder.

Note that price/growth ratios (also known as PEG ratios) are merely the forward (next year's) p/e (price earnings) ratio divided by the expected earnings growth rate.  This result should generally be less than 1.2 or 1.3.  If so, the security is a potential bargain.  If it is not, you are quite possibly  buying the "guessed at and hoped for" potential future earnings, which may never come to be, at too high a price.  Exceptions may be made to this rule, but not too often, and only when it is imperative that you buy some securities now AND the market is running too high (too rich).   Actually, this time described in the previous sentence is more likely a time NOT to buy and perhaps the bubble is about to burst, once again, as it must burst from time to time.

When considering fixed income securities (as opposed to stocks - or equity), you probably should consider "junk bonds" (which are generally preferable to so-called better rated bonds) but only if you are buying them as part of an ETF or mutual fund purchase (thereby spreading the risks) and not buying individual bonds.

Be aware that Index funds outperform mutual funds most of the time; and ETFs should probably outperform Index funds much of the time.  The reason for all of this is that mutual funds more often (some more than others) have loads (commissions coming in or later going out, or both) AND expenses that are higher than index funds and then index funds also will probably always have more of the same than ETFs.  Also be aware that some ETFs have lower loads or operating expense charges than others.  The Vanguard Group is known to have the lowest costs (the lower the costs, of course, the higher your yield, each and every year).  A difference of say 1/2% does not seem like much unless you (properly) realize that the 1/2% is 6.25% of 8%.   Therefore you are giving up (in this 1/2% example) 6.25% of your income.

3A- INVESTING BASICS - Things to AVOID when Investing:

overconcentration  - this means you are to diversify, and diversification is NOT buying different tech stocks or different auto stocks, etc..  Instead, try to buy different investments in different industries.

high expense mutual funds  - expenses in excess  of 1% a  year is too expensive.  Instead you MAY consider owning broad-based (highly diversified) index funds or ETFs (exchange-traded funds).  

chasing the  highest yield - there is probably a good reason why this "payer" has to pay such a high price for your money.  Instead avoid this kind of investment.

the  "must have" stocks - others have pushed the prices so high because they "must have" the stocks themselves.   Instead, we can do without these "must have" stocks.

paying a premium price to buy too many of the largest companies - there normally is an end to  the "sales increase curve" - a small company can increase its sales at 20% (or more) a year, much easier than a large company can.   Instead, remember that a big  company has  more difficulty  sustaining such  a trend.

stocks in any company that has too much debt.

Internet Chat  Rooms - these "know it alls"  generally do not know much of anything useful.  Don't pay attention to any tips at all.  By the time even a good tip gets to you the price is too high anyway.

hot  tips - generally even  the best tips come to you AFTER others have pushed the price too high.

listening to Brokerage Analysts  - these guys touted Enron and Worldcom so that you can buy now what they are selling now.  Even the most ethical of them still can not read the tea leaves or otherwise see into the future.  The ONLY good way to buy for our portfolio is to buy reasonably priced, "not to get rich quickly" decent companies that plod along and make a decent profit year after year after boring year.

Initial Public Offerings (IPOs) - DO NOT buy any IPO for this Foundation.  They almost never pay off except if you are in on it on the first day AND you sell very shortly after buying, something that is contrary to our "long-term investing" policy..

penny stocks -- this is definitely, no question about it, gambling.

viatical settlements or derivatives or any unusual investment.  NO!!! NO!!!

annuities. NO!!!  NO!!! NO!!! NO!!!

Salesmen who call you over the  phone - do you  really think that they like you so much that they are doing YOU a favor?

the Fear of, or Resistance to, Selling - Don't wait forever for a stock to "come back" to where it was when you bought it.  On  the other hand, NEVER sell a stock when everyone else is selling it.    Instead, remember that a contrarian policy is generally the best investing policy.  Buy when others are selling.    We are the long-term investors, not short term speculators who are selling now.

Trading securities on a short-term basis is like speculating or gambling (as opposed to "investing") - NO ONE (that is, NOBODY) can successfully "time" the market.  The ONLY way to realize long-term success is to INVEST in good companies that have shown a good long-term history and where you can reasonably  expect continuing growth, and then to HOLD these securities for a long, long time.  This long-term method will save "trading costs" (commissions) and will make your Trusteeship easier as fewer decisions will have to be made.

Future possibilities  -  concentrate instead on proven past results.   Whatever is to be known about the past is known but the future is just a guess and, even then, it is already factored into the price of the stock, so you won't get any bargains here anyway.

Brokerage Houses with broker's recommendations - I have found that brokers generally are not anywhere near what they purport to be.  Stay in discount brokerage houses and ignore recommendations.

 

4-WRITING GRANT checks and other CHECKS

The Brokerage firm(s) where we already have our account(s) must be contacted to ask them for forms to make changes in signature possible.  At present, I am the only authorized signature.

After the demise of Michael Wein, the new President and one other Trustee must counter-sign all checks in excess of us$49.   Checks must be signed AFTER the signer (for under $50 checks) or the two signers (for checks exceeding us$49) must physically and visually see that the check is already made out to a specific payee, the amount is already entered in both numbers and letters, AND after the signer or signers have both already examined the underlying invoices or any other relevant documentation supporting the payment (especially including all grantee's required submissions). 

 

5-TEXAS and IRS ADDRESS OF THE FOUNDATION

The previous address of "The Michael P. Wein Charitable Foundation, PMB #77A, 220 North Zapata Hwy #11A, Laredo TX, 78043-4464"  is on file with the State of Texas. Should there be any change of any sort, whether before or after the Founder's death, the Secretary of State of Texas must be informed so that the Foundation will not lose its Charter from Texas.   Notifying the Texas Secretary of State immediately is a critical MUST!!!  See the latest Annual Report to the State of Texas

The previous address of " ndation, PMB #77A, 220 North Zapata Hwy #11A, Laredo TX, 78043-4464"  is on file with the State of Texas. Should there be any change of any sort, whether before or after the Founder's death, the Secretary of State of Texas must be informed so that the Foundation will not lose its Charter from Texas.   Notifying the Texas Secretary of State immediately is a critical MUST!!!  See the latest Annual Report to the State of Texas and note that the main office of the Foundation must remain in Texas (somewhere).

5a - at the same time (when the Founder passes away) you might consider making certain changes, for instance email address and replacing old contact information with new contact information.  But, it is a good idea NOT do this for a few reasons.  First, the Founder's Executor is authorized to know the PASSWORD so as to access and use the email account so there is no reason to change that (just let the Foundation continue to use  mpwcfoundation@gmail.com and let the Laredo post office address continue to be used for the Foundation (for the purposes of the State of Texas only) as the Founder has no need for the P. O. Box now.  Too many changes would otherwise be necessary that entail unlocking this web-site that the Founder wishes to keep “as is”. so just use a “repetitive-type note” for to respond (just "reply" using a "copy and paste" technique) to any personal emails for Michael Wein that might come your way notifying the sender of the Executor's separate email addresses. The only change you do need make is on GMail's web-site for mail and on the "settings page" whereby you change the forwarding instruction from mpwinsma@gmail.com to our own email address. mpwcfoundation@gmail.com.   

 

6-FINANCIAL REPORTS OF THE FOUNDATION

In addition to Form 990ez prepared annually for the Internal Revenue Service, and annual  Texas Franchise returns (whenever either are required), the Trustees should be provided with current financial reports at each annual meeting of the Trustees. Interim records must be kept of all receipts, all disbursements, all grant requests, and actions taken on all grants (and these records presented and discussed at any meeting at all). Minutes must also be maintained recording the actions taken in all Trustee meetings. After the death of Michael Wein, assets will obviously increase dramatically as a result of his estate bequests, and therefore the financial reports must become more detailed and more encompassing and meet the needs of (by vote, at least 2/3rds of) the Trustees.   Minutes of meetings preceding the Founder's death will be found at minutes, whereas minutes of meetings taking place subsequent to the Founder's death must be uploaded to the new website discussed on the subsequent changes web-page. 

After the Founder's death but prior to the Foundation's dissolution, annual reports of the Foundation itself should also be forwarded to both Rider University and the ACLUFoundation.  One of the things that they are to be looking for is the fact that the Foundation must keep its endowment alive and thriving.  Just to keep constant (and adjusted for inflation), the Foundation's endowment should increase on (a cumulative) average by about 2% each year.  This should be subject to a comparison with the Dow Jones Industrial Average (DJIA) and the Foundation's endowment should not be allowed to deteriorate negatively by more than 110% of the DJIA's 100% change.   This means comparing the Foundation's endowment at each time there was a significant receipt from the Founder's estate to the comparable DJIA at those same times.

The above computation's are necessary during the earliest one to five years after the Founder's death and then the computations become easier (and annual) as the comparisons can be done directly from the Foundation's annual financial statements. 

More information can be found at our web-site pages of IRS financial requirements  and also at  Form 990EZ (although this Foundation might  have to file Form 990, not Form 990EZ)  

 

7-Fiduciary responsibilities of the Trustees

By Texas and all ordinary American and Mexican laws, each Trustee's first duty is to guarantee the continuance of this Foundation, safeguarding its endowment assets, and using its income and stockmarket appreciation to make grants to organizations meeting the criteria set forth in these instructions.  The Trustees are, among other things, responsible to:

a. see that all grantees get equal representation in accordance with the Founder's wishes made clearly before and during the last three healthy years of the Founder's life. This means that each Trustee's own special interests, if any, receive no more nor any less representation than any other grantee, and that the percentage of the total grants existent during these last three healthy years, is maintained unless some other reason dictated by these Trustee rules is present. Consult the web-page allocations for the latest information on which grantees are approved as future grantees of this Foundation.  And always be aware that there is always a slim possibility that one or more renegade members of a future board might somehow attempt to subvert the wishes of the Founder and all of these (#7) responsibilities are intended to defeat such an attempt.

b. The minutes of Trustee meetings held during the last 3 years prior to any Founder health problems are to be posted online and immediately after the death of the Founder, all Trustees should be reminded of this availability.  Any minutes of any meetings held after those 3 years of minutes are also to be distributed, forever after, so that all grantees have a complete set of Trustee minutes, forever after, or at least until after the dissolution of the Foundation      see minutes.  

c. Financial reports of the Foundation are also to be posted online, again forever after, using the same dates as expressed immediately above (in #7b).  See web-page for financial statement for our own statements and continue to use this format in the future when statements are prepared for distribution to grantees.

d. Monthly brokerage statements should be physically copied and distributed (or scanned and sent by email attachment) monthly to each of the Trustees.  Physical copies will better enable them to watch over the assets of this Foundation.  

e. Although the Trustees are not authorized to make any changes in the by-laws, operating rules. instructions, procedures, etc., of this Foundation after the death of the Founder, any changes mandated by governmental law or totally unforeseen circumstances, are to be fully discussed and documented in Trustee annual or special  meetings and the minutes and the implementation thereof is to be delayed until the beginning of the subsequent calendar year (January 1, not fiscal year July 1).  If there is any impact upon any one or more grantees, that (those) grantee(s) are to be given an opportunity to argue for an amendment of the proposed change.  Any decisions and/or documentation that comes from this process are then to be uploaded to our new web-site as described on subsequent changes.

f. The founders will provides certain remedies in case the Trustees (or anyone else) makes any attempts to subvert the Founder's pre-death wishes.  Your attention is specifically directed to the founders will (especially sections d-restrictions... and e-continuity...)

g. IRS has published their requirements for various types of Foundations (including ours) and they are listed on the internet at http://www.irs.gov/charities/charitable/

 

 

8-APPOINTMENT OF NEW TRUSTEES

Both Feed the Hungry and The Unitarian Fellowship of San Miguel will provide a Trustee, subject to veto by Michael Wein, or his successor. In the event of such a veto, each organization will provide alternative choices for Trustees until Michael Wein or his successor no longer vetoes. Michael Wein will serve as a Trustee during his lifetime. At the time of the demise of Michael Wein, a mechanism to appoint a successor for him activates.  This mechanism is described below at #11-changes occurring after the death of the Founder.  Should either

Both Feed the Hungry and The Unitarian Fellowship of San Miguel will provide a Trustee, subject to veto by Michael Wein, or his successor. In the event of such a veto, each organization will provide alternative choices for Trustees until Michael Wein or his successor no longer vetoes. Michael Wein will serve as a Trustee during his lifetime. At the time of the demise of Michael Wein, a mechanism to appoint a successor for him activates.  This mechanism is described below at #11-changes occurring after the death of the Founder.  Should either Feed the Hungry or The Unitarian Fellowship not continue to observe the Foundation's requirements and thereby abrogate our agreement (as described above in section #1 - duties ... of Trustees), their seat as Trustee may be given to an alternative recipient of large grants whose organization does observe our requirements or in the absence of such a recipient, any other reputable San Miguel resident.  The latter Trustees are to be appointed in such a case by the Founder or his successor.

What a new Trustee should wish to  know before accepting appointment as a Trustee

What a new Trustee should wish to  know before accepting appointment as a Trustee

you have access to, and should read, our Articles of incorporation (#1)  and our by-laws (#2) 
you have knowledge of our "whistle-blower's policy" (this page and the other web-pages  are our guarantees regarding each and all Trustee's integrity) 
our guidelines regarding conflicts of interest (read point #7 above - Fiduciary responsibilities) are open for your consideration
your knowledge that this Foundation is seeking your talents and not financial donations from you 

 

  9-SPECIAL TREATMENT OF CERTAIN GRANTEES AND POTENTIAL GRANTEES:

FTH and UU - As originating organizations with contractual agreements with this Foundation, certain special latitude is extended here, but both organizations must continue to meet their responsibilities under their individual agreements and also provide annual comparative financial statements accurately and completely disclosing the results of their operations, as well as meeting the requirements specified on their individual annual certification letter.  As of July 21, 2010, UU is meeting their requirements while FTH has not done so for years.  With the turnover of the FTH seat on our MPWCF board during 2010, Chris Peeters has taken the FTH seat under the understanding that there is a great probability that FTH will not receive any grants from the MPWCF during the Founder's lifetime.   After the Founder's death, there is only a possibility that FTH might once again apply for grants and then only receive such grants if two most important requirements are present.  One, that the then-current three Trustees are unanimously of strong mind to re-instate FTH because other then-current Grantees are not in greater need of our grants and, two, that FTH is meeting all of our requirements, but mostly that of complete comparative financial statements plus full Disclosures and complete transparency.  This latter point would also include our continuity requirements.   And, lastly, this has been demonstrated for a period of at least 3 consecutive years.   Finally, the preceding requirements, like with all others of our past and current grantees, must continue into the future as well

Biblioteca Publica - As an organization that has had (and most likely will continue to have) significant tumultuous changes in administrative and executive management, and as one organization which by necessity does not meet our criteria for low overhead, we had reached a compromise with them whereby our grants would have gone directly into their separate Stirling Dickinson Scholarship Fund, bypassing the Biblioteca General Fund entirely.  Each year's grant was to remain a one-time grant, and our Trustees' renewals were to be contingent upon, among other things, being provided sufficient factual material so that we could ascertain that our grants did not replace (or were counted as part of) in any way the "5% of total Biblioteca income" that the Biblioteca bound itself (in the year 2000) to also give to the Scholarship Fund each year. After we made repeated grants to them we found that they repeatedly ignored each of their many promises to us. And in addition we began to notice that Atencion and Biblioteca promises were also more often than not, not kept as a matter of course.   As a result, no further grants are ever to be made to the Biblioteca or to its sub-functions.  It may just be a case of turnover in personnel or administration, but we had witnessed (as of 2006) 13 years of repeated instances of blatant and unilateral abrogation of every one of the promises (many were in writing) made to us. However, we re-instituted grants directly to the SDS Fund in 2007 with the promise from its own Director that she would personally see that our requirements are met.  This, once again, was not done.  We will no longer re-visit this situation.

Patronato Pro Ninos and C.A.S.A.- without discussing the reasons for this decision in this too-public venue, no further grants are ever to be given to either of them.  

For more information on this, see certified_grantees, potential grantees, and specifics about potential grantees.

10-OUR GUARANTEE TO GRANTEES THAT OUR FUNDING OPERATIONS SHALL NEVER CHANGE (with only one potential exception)

a. other than for USA, Texas, and/or IRS legal requirements, our By-laws shall never be amended after the demise of our founder, and our methods of operations shall NEVER change from what it was during the last three healthy years of our Founder's life.  

b. this web-site (or a publicly announced successor web-site) will always be maintained and kept up to date regarding our activities and processes (especially regarding any changes from the past) as will public announcements in all available media and email facilities.   Because of its availability to the entire planet, and because of our beliefs in transparency for both our grantees and ourselves, this website will always be the "last word" in resolving any disagreements between our own Trustees, our own Grantees, or any of our other constituencies and it shall supercede all other documentation other than signed contracts between our Foundation and other parties.

c. The By-laws, minutes, and all instructions, promises, requirements, and all other operating procedures shown on any public medium (web-sites, public publications, etc., including non-public individual emails, but including any contractual commitments) will always constitute the operating rules of this organization.

d. as conflicts between all of the above documents might (and probably will) unfortunately occur, the order of instruction precedence is as follows.  First, the by-laws of this organization take highest precedence, followed by, in this order:  all of the provisions of the Founder's Will and Trust Agreement (as elaborated upon in the entire "d-restrictions ..." section on the founders will webpage),

e.  this Foundation will attempt as much as is possible to follow its own requirements for the grantees, among which is an open and transparent operation.  Although described in greater detail at #7 above, the IRS and USA legal papers, the minutes of board meetings, the financial reports, and the other operations of this Foundation, commencing after  (reason for "after" is as follows: until the large endowment is received at that time, this foundation is relatively small) the Founder's demise, will be made available to all grantees.  Part of the reason for this is to assure all interested parties such as all grantees (including any grantees who have trustees on our board) and any other person or organization, that no one party is receiving an unfair change of relationship that was not anticipated AND provided for in these operating instructions well BEFORE the demise of the founder.

f.  However, we recognize that there is always a small possibility that some things or problems have been overlooked by the Founder.  In the event that changes are required for any reason, full disclosure on the new website created in accordance with our subsequent changes page is the page to be consulted by any interested party (grantees, Trustees, any one at all).   See especially, point #11 immediately below this current point #10.  

 g. There are EXCEPTIONS to the foregoing guarantee.  In the unlikely event that the Founder of this Foundation is deported, incarcerated, or otherwise forced, by any action or inaction by Mexican authorities or any other local residents and/or citizens, to adversely change his normal (defined as his life prior to the year 2010) condition of life substantially, the beneficiaries of the Foundation's us$3,500,000 (or greater) endowment may be changed from charitable organizations located in or around San Miguel de Allende to other charitable organizations, including chiefly the American Civil Liberties Union Foundation, Rider University (New Jersey) or other worthy organizations located in any country other than Mexico.  

h. The Founder has every present intention of living out his days in San Miguel. However, in the event that the quality of his life in San Miguel deteriorates unacceptably because political, military or other types of quality of life disturbances, or the enforcement, or lack thereof, of However, in the event that the quality of his life in San Miguel deteriorates unacceptably because political, military or other types of quality of life disturbances, or the enforcement, or lack thereof, of contracts, local laws or regulations such as building codes, noise ordinances, immigration procedures, tax laws, health or environmental regulations,, tax laws, health or environmental regulations, cause the Founder to experience substantial physical, medical or emotional distress, the location of the Foundation's beneficiaries may be changed as specified in point "g." immediately above. , tax laws, health or environmental regulations, cause the Founder to experience substantial physical, medical or emotional distress, the location of the Foundation's beneficiaries may be changed as specified in point "g." immediately above.

i. During the Founder's lifetime, any and all determinations that factors such as the foregoing substantially and negatively have impacted the Founder's quality of life shall be made solely by the Founder. The Founder reserves the right in his sole discretion to change some or all of the Foundation's beneficiaries if he determines that any of the above types of factors have caused substantial, negative changes in his quality of life.      

j. The foregoing exception to the Founder's guarantee shall continue in effect after the Founder's death if or when the Executor (who is also the Trustee of the Founder's Trust Agreement) of the Founder's Wills determines, in his/her sole discretion, that any of the foregoing types of negative factors have contributed substantially to the Founder's death or to the deterioration of his quality of life during his lifetime.  In the event that the Executor makes such a determination, he/she shall have the sole power to change the Founder's beneficiaries in the same manner as that reserved to the Founder during his lifetime.  All determinations and decisions made by the Executor in this regard shall be final and may not be appealed.   And, since the Mexican so-called "capital gains tax" will not be applied until after the Founder's death, the Executor is specifically authorized to make all decisions in this regard after deciding whether or not the so-called "capital gains tax" has been applied consistently and fairly to the Founder's assets as compared to other sales after death of other similarly situated very long-term and full-time residents of Mexico.

Post-damage (2014) conclusion: In case there is any doubt on the part of a reader of the above, after well over two years of waiting for the person responsible for huge damages (as defined above) to both the Founder and the MPWCFoundation to make any attempt at restitution for the damages she caused, Michael Wein is forced to declare the obvious and observable facts

 

11-CHANGES OCCURRING AFTER THE DEATH (OR DISABILITY OR RESIGNATION) OF THE FOUNDER

At some point in the future, after the earliest event (either his mental disability, or his resignation from the board, or his death), the board will be required to replace Michael Wein as the third Trustee and replace him in the offices he now holds.  His Estate documents instructs the other 2 Trustees on the method of replacing him as Trustee, both immediately at the time of the above earliest event, and later on when replacements of the replacement Trustee is also required.  According to our  By-laws, Article IV - Trustees clause #5 states " After the death or disability of the Foundation’s Founder, a replacement Trustee for the Founder shall be selected by the remaining two Trustees from a list of names provided by the Founder. The Trustee who replaces the Founder, together with the two other Trustees, shall then elect one person to fill each of the following offices:  President , Treasurer, and Secretary, so that each of the three offices is filled by a different Trustee" ---- This list of names, together with a procedure to be followed, shall be found in the Founder's Estate Papers in a paper document called "List of Names Provided by Founder to Replace the Founder as Trustee after his death"       2012 additional note - since the Foundation is to be dissolved within 2 or so years after the Founder's death, this paragraph is not necessary as the Founder's Trust Agreement specifies that the Trustee of the Founder's Trust is to become the first (and now only) Replacement for the Founder on the Foundation's Board of Trustees.

At some LATER TIME, after 2, but hopefully less than 4, years after the Founder's death, the Foundation should be dissolved, all in accordance with Article #8 "Disolution" of the Foundation's Articles of Incorporation as shown on the Legalities page  Guidance on how to proceed to this point is shown on the replace founder page as 

Although it is specified in the by-laws and on this Trustees page that NO changes be made to either after the Founder's death (except for changes mandated by governments and the above changes in officers), it is certainly possible that some things or problems have been overlooked by the Founder.  In the event that changes are required for any reason, full disclosure of a new website created in accordance with the subsequent changes page is the place to be consulted by any interested party (grantees, Trustees, any one at all).

In the event of a "material change" (see IRS definition of "material" on their web-site) in the way the Foundation is being run, see the IRS page at the following URL: http://www.irs.gov/charities/ .  Also if the Foundation is terminated, see the IRS page at this URL: http://www.irs.gov/charities/

12-THE MINIMUM DUTIES OF THE OFFICERS OF THIS FOUNDATION after the Founder's departure

The President will be the chief administrative officer and will also schedule and run all meetings.  This position shall always be filled by the then-current replacement for the Founder and later by subsequent replacements of this position.  If agreed to by all of the other Trustees, the president will also prepare some or all of the financial reports discussed under the Treasurer's duties (unless some other Trustee is both competent and willing to prepare some or all of them), and some or all of the paperwork discussed under the Secretary's duties.   However, the duties of the Treasurer and the Secretary require that they completely review and agree to the appropriateness of all of the paperwork prepared by all other Trustees and take responsibility for the completeness and accuracy as if they prepared the work themselves.

The Treasurer will be responsible for reviewing and maintaining all financial reports (including those prepared for outsiders and government authorities), even if they are prepared by some other person (the other person would most likely be the chief administrative officer).  Among the most important requirement of the Treasurer is a cash flow projection and a recommendation to the other officers of how much in total grants (both the ongoing and the one-time variety separately) we should make each upcoming year.  In making this recommendation, the Treasurer must also keep in mind the state of the stock market and how much inflation effects the need for continual growth in our endowment fund.  The Treasurer shall maintain a spreadsheet that lists each security and the 12 months of each year and the dividends paid by each security.  This spreadsheet shall be maintained for both cash flow projections and historical accuracy of past receipts.  The Treasurer shall present to every meeting a listing (in reasonable detail) of all past receipts and expenditures, a similar listing (perhaps combined with the past details in a columnar listing) of estimated future receipts and expenditures, and a detailed listing of all assets and all liabilities and all future commitments as of each year-end (and all of this should be done on a cumulative basis during the year, so that once a year,  cumulative statements are created and saved for historical purposes. 

The Secretary should prepare all public announcements and see to their publication.  The Secretary will also be responsible for the storage and maintenance of the historical continuity of all Foundation records (including, but not limited to, financial records, minutes, contracts and agreements, bank statements, tax returns, etc.).   These records may be originally prepared by another person but the Secretary is responsible for the review and maintenance of them historically and forever.    Duplicates of all of these records should ALSO be maintained on the MPWCF's computer and backup files.

It should be emphasized that after the Founder's death, when the endowment of this Foundation will have increased dramatically, the financial reports and the minutes of every meeting should become much more detailed and encompassing much more than they were prior to the arrival of the endowment.  The minutes of each meeting must include the details and reasoning behind all actions taken at meetings. 

The above officers will select one of their members (I suggest the most computer-literate of you) to up-date the new website that was created in accordance with the  subsequent changes page of this web-site, but all officers have the joint responsibility for reviewing the web-site for accuracy and for observing its dictates.

2012 note - Since the Foundation will go out of business within a few years, it MIGHT be unnecessary to create this new website UNLESS some turmoil occurs either caused by any of the Trustees, any of the Grantees, or any of the default Grantees, or any other non-governmental authority.   In the case of such turmoil, it might be that the party desiring the new website should create it at their own time and expense and be reimbursed for such time and expense ONLY if they are proven to be "right" by an independent arbiter (possibly one that the Founder selected in his handwritten list provided for in Sch. B, Clause #1 of the Michael Wein Trust).

The above officers will select one of their members to be the recipient of incoming email reports from all grantees and other senders and be responsible to distribute email copies to the other officers.  I suggest that mpwcfoundation@gmail.com continue to be the Foundation's email address.

The evaluation of all grantees input (both old grantees and any new grantees) is the joint responsibility of all Trustees, as will be the changes, if any, in additional input requirements requested from all grantees each year.   Only if circumstances change well beyond the Founder's intents shall new grantees even be considered.

Finally, due to the turnover in expatriates lives in San Miguel, once the Founder passes away, the other three Trustees must make provisions for their own unexpected and untimely departure from this town, most especially regarding other Trustee's access to Foundation original records that are maintained by themselves.  Too often have volunteers working at various organizations in this town passed away and their own family has disposed of essential documents that the family never knew were critically important to the organizations that each volunteer worked with.   Therefore, in the interest of our own continuity, individual processes of duties of each of our Trustees should be committed to paper and updated annually.  The edited and updated copies of these written procedures should be maintained on both the MPWCF's computer and backup files and in the Secretary's permanent files. Copies of the written procedures should also be sent to the other Trustees.

 

13-COMPENSATION OF OFFICERS AND TRUSTEES

No officer or Trustee is to be compensated for his or her services with the following (possible) exceptions:

a.  The position that replaces the Founder, but not the temporary replacement of the Founder by the Executor of his estate, which shall remain an unpaid position until the time of his death, may (but only if all Trustees deem it necessary) carry a small and reasonable compensation thereafter.

b.  The annual amount of this compensation (together with all other overhead), must never exceed  the greater of

2% of our annual dividend and interest income actually received (which, in this computation, shall NOT include any appreciation in the value of securities), or 
us$2.500 a year.

c.  The Officer and/or Trustee who takes this position may take part in the discussions of his or her compensation but does not have a vote in the decision.  The other two Trustees must both agree to the amount of the annual compensation, the timing of the payments, and any other factors that go into such a compensation discussion.

d.  The Officer and/or Trustee is not being paid completely for the value of his work as he or she is being partially compensated by the psychic income of the good work he or she is doing for the community.

e.  The other two Trustees shall realize that without such a "working Trustee", their work increases commensurately.

f.  If, in the opinion of the other two Trustees, the maximum allowed under the above clause b. is not sufficient to enable this Foundation to obtain a suitable and able Trustee to replace the Founder, they may increase this maximum by a very small amount. However. these changes must then be noted on the new website that is created in accordance with the  subsequent changes page of this web-site.

g. in any event, the compensation of any officer or Trustee should be specifically described in any private, public, or tax-related financial statements.

 

14-RESTRICTIONS ON THE ACTIONS OF THE TRUSTEES SPECIFIED IN FOUNDER'S TRUST AGREEMENT

The Michael Wein Trust Agreement (which provided the endowment for this Foundation) in Schedule C states the following:

Schedule C:   Conditions (or restrictions) on the use of all bequests to The Michael Paul Wein Charitable Foundation, Inc.

The Settlor’s (Michael Wein is the Settlor) predominant reason for establishing the Foundation was to initially promote, and later ensure, transparency and full disclosure of both finances and operations of each of the Foundation’s grantees that are operating in Mexico, as well as promoting and implementing procedures necessary to maintain continuity of the missions and operations of such grantees in a retirement community where turnover of grantee and Foundation personnel is by necessity constant and continual. Therefore, all bequests of securities or other payments of value to the Foundation or to its Grantees are forever subject to the requirements for the operation of the Foundation specified in the following documents.  Should any conflict appear to exist between and/or among the provisions of these documents, their intent and meaning shall be construed in the following order of priority: and meaning shall be construed in the following order of priority:

Articles II, VII and VIII of The By-Laws of the Foundation

All other Articles of the Foundation’s By-Laws

The provisions of this (The Michael Wein Trust Agreement) trust agreement

The pages on the web-site of the Foundation (currently at www.mpwcf.org/) or any successor web-site in this order:

"Goals & Mission” page as well as its underlying page, “beliefs”;

Our trustees” page as well as its underlying page, “subsequent changes”;

The "critical", "continuity", "transparency" and "correspondence" webpages;

The ”allocations" page which now takes precedence over partially superceded directions on the below "Certified_grantees" and "specifics" pages

Certified_grantees” page and next its sub-underlying page "specifics";

Ongoing requirements” page and next all of its underlying pages and links (but, most importantly, the “financials-example” and the "annual certification pages and the Checklist (summary) together with its underlying pages of Templates and its underlying pages of three due dates (Oct 31, Jan 15, and Jan 31); and

 Any and all other pages of the web-site, or successor web-sites, are next to be considered only to the extent that they elaborate upon any of the foregoing documents.  The most important of these other pages can be found on  the “Site_Map” web-page and are marked with a large red “(C)”.

The By-laws declare, among other things:   

                   Article II –Mission, Goals, and Purposes

     The mission, goals and purposes for which this Foundation has been organized are as follows:

·     To devote its resources and income to making gifts, grants, or contributions, and to providing financial and management assistance, to charitable organizations which engage in activities such as the feeding of children, organizations which provide medical care to children, and other organizations or persons as the Board of Trustees may determine to be prudent, and that are organized and operated exclusively for one or more of the following purposes: charitable, educational, scientific, literary,  prevention of cruelty to children or animals, or defense of civil rights.   As much as twenty-five percent of income or resources may be designated specifically for the benefit of Feed the Hungry, a non-profit outreach program operated by St. Paul’s Anglican Church.

·          To encourage all such charitable organizations to be open and transparent in their financial and procedural operations and to assist in creating greater continuity in and longevity of their own missions

·          To perform any acts, including the raising of funds, necessary or incidental to the carrying out of any of the purposes hereinabove set forth.

·          To solicit, accept and hold contributions, gifts, and grants of every sort.

·          To hold, invest, reinvest, and administer the Foundation's property of every kind and description including but not limited to its funds, and in use, apply, expend, disburse, grant and contribute the same for the purposes of the Foundation.

·          To do and participate in all and everything necessary, suitable or proper for the accomplishment of the Foundation's purposes or powers and the attainment of its objects, subject to the restrictions of all laws.

·          The Foundation shall not operate for pecuniary profit or financial gain.

Article VII -  Prohibitions against changes in Foundation's mission, goals, and operations before and after Founder’s death or disability

     Michael Paul Wein, Founder of this Foundation, specifies the following as conditions of his lifetime donations and of all subsequent bequests to the Foundation’s endowment after his death or disability:

       the Last Will and Testament of Michael Wein and the Michael Wein Trust Agreement contain restrictions that govern the usage of all bequests from him to this Foundation. In the event of violations of such restrictions, the documents also contain alternative procedures for final distributions of the endowment and termination of the Foundation.

       the Founder has published a web-site, available to all interested people, which describes, among other things, the Founder's requirements for the continuity and transparency of the operations of both the Foundation and the Foundation’s grantees. The operating policies and procedures that are described on this web-site, chiefly on the web-page entitled "Trustees," must be followed by succeeding Trustees. Other than changes required by law, no changes to the web-site or to the Foundation’s policies or procedures shall be made after the Founder’s death or disability.  The web-site, these By-laws, the Founder’s Last Will and Testament and the Michael Wein Trust Agreement are all intended to ensure that no changes in the Foundation’s mission, goals, purposes, policies or operating procedures are made by the Foundation's Trustees after the death of the Founder.

        the abovementioned web-site may be changed only by the Founder prior to his death or disability.  As soon as possible after the Founder's death, the two remaining Trustee's shall arrange to obtain printed copies of the contents of the web-site as it exists at that time. Printed hard copies shall be thereafter maintained in the permanent records of the Foundation.  In the absence, or temporary or permanent loss, of such a web-site, the Founder’s computer will contain the web-site’s contents and a hard copy of the computer’s contents may be substituted if necessary.

Article VIII - Amendments

     Under no circumstances shall the provisions of Article VII be amended after the Founder's death or disability. Any other provisions of these By-laws may be amended at any time, but only by the unanimous agreement of all Trustees. Notwithstanding the provisions of the preceding sentence, these By-laws may not be amended to change the Foundation's mission, goals, purposes, policies or operating procedures as set forth above.

In addition to the above by-laws and above Schedule C (Conditions and Restrictions) of the Founder's Will and Trust, a reader of this section should be aware that the beneficiary's Schedule B, clause #1 (summarized in the founders will, although the Trust Agreement itself should be consulted as it is much more specific regarding each detail) of the Trust specifies a process detailing just how the above restrictions are to be implemented after Michael Wein's death and what an interested party, upon discovering perceived violations of these restrictions, could or should or must do.

So, as a result of all of the above, the following instructions from, and written directly by, the Founder apply to all Trustees and constitute restrictions on them:

a. The Officers and/or Trustees of the Foundation shall read my instructions (including those instructions originating on corporate legal papers which are included on the Foundation’s web-site) for operating the Foundation as shown on all pages of its web-site which is also open to all viewers and intended to be transparent to all officers and/or Trustees as well as all grantees and any other interested parties.  The address of that web-site at present is    www.mpwcf.org/index.html

b. A condition of all bequests by me to the Foundation was that the Trustees continue the mission, goals, work and direction that I initiated at the Foundation during my lifetime. Should the Trustees veer significantly from those instructions, the Foundation will be in violation of the terms of these bequests.  Any interested party may bring the violation to the Trustees' attention  and, if not corrected within a reasonable period of time, the provisions of the Trust's Schedules B and C shall be implemented. 

c. If not every every interested party agrees that the violations have been corrected, the Trustees must inform all local organizations that are currently receiving grants from the Foundation as well as the local media and all other beneficiaries of my Will and/or my Trust that the Trustees intend to terminate the Foundation because they can not find a suitable compromise regarding the violations.  After waiting a minimum of six months and a maximum of twelve months for comments, ideas, or other input from local organizations, the Foundation’s securities shall be sold by the current Trustees. The resulting proceeds from the sale of all securities are to be distributed by the Trustees as follows:  

 2/3rd to The American Civil Liberties Union Foundation, 125 Broad St., New York NY 10004-2400

1/3rd to Rider University, 2083 Lawrenceville Road, Lawrenceville NJ 08648-3099

None of these proceeds are to be distributed to any local San Miguel charity. 

The intent of all of the above is to encourage the continuation of the Foundation under the principles that I have laid down during my lifetime, but if this proves impossible, the above 2/3 and 1/3 distribution shall take place  

Lastly, the Trust Agreement (in Sch. B, clause #1c) states that to enable the ACLUF and Rider University to be sufficiently informed to enforce the provisions of the above clauses, the Foundation’s Trustees shall send annually to both the ACLUF and Rider University a copy of the Foundation’s annual financial statements (including the annual report to the USA’s Internal Revenue Service) and the minutes of all meetings as well as a copy of each grantee’s annual financial statements and each grantee’s annual signed certification letter which describes each grantee’s adherence to the Foundation’s requirements for, among other things, transparency and continuity, and any other annual report that each grantee is required to submit. . The Foundation’s Trustees shall also be required to answer any reasonable questions that the ACLUF or Rider University has regarding the information disclosed on such annual materials.

A list of potential mediators and/or arbiters has been provided for the possibility should they be necessary.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

“Underpromise and Overdeliver”

Some, but not all, pages on this web-site were selectively modified as recently as the date shown at the bottom of the MPWCFoundation home web-page. This entire web-site is copyrighted © 2000-2016 by The Michael Paul Wein Charitable Foundation, Inc  

QUESTIONS OR COMMENTS about this web-site? E-mail us at mpwcfoundation@gmail.com. SPECIFY EXACTLY (using copy and paste) (and include the page name, i.e., the URL link) what your question or comment refers to.