Sunday, April 26, 2015



Thanks to the hard work of Mike Lutes, President of the RNBRA, and members of the Board of Directors, the trust funds that were set up by the donations of past members for the use of Fullbore programs have been partially repatriated to the Fullbore Section. Although they remain under the care and control of the Board of the RNBRA, the Fullbore Section will direct the Board in how they will be invested and will use the funds for the purposes for which they were intended. They will no longer be in danger of being rolled over into the general operating capital of the RNBRA.

The Funds include the following (Value as of October 2009):
     1.  The M. Ellen MacGillivray Fund ($4601.74) - not apparently designated to a particular purpose
     2.  The Alban Emery Fullbore Trust Fund (Prize Fund) ($2192.64) - designated as a prize fund for the "Alban Emery Match" shot during the Fullbore APM.
     3.  The Lockett Fullbore Fund (Prize Fund) (combined $3100.78) - originally designated as a prize fund for the "All Comers Match" shot during the regular shooting season. It is now combined with the Burge and Snow Funds.
     4.  The Burge Fullbore Fund (Prize Fund) - originally designated as a prize fund for Junior Shooters. It is now combined with the Burge and Lockett Funds.
     5.  The Snow Fullbore Fund (Prize Fund) - originally designated as a prize fund for Cadets and Junior Shooters. It is now combined with the Lockett and Burge Funds.
     6.  The Fullbore Activity and Lockett Memorial Fullbore Trust Fund ($4058.48) - originally designated as a fund to finance the activities of the Fullbore Section aimed at increasing the number of shooters in the Fullbore Section.

At a special Fullbore Executive Committee meeting, held on April 25, 2015 at Batouche Range prior to the Season Opener Shoot, several issues related to these Funds were discussed. Mike L. read the pertinent minutes of the RNBRA Board Meeting in which the Funds were identified and the Fullbore Section was granted the above. The Fullbore Executive reached consensus on the following resolutions:
     1.  The M. Ellen MacGillivray Fund - the group was informed that about $7500 was donated to the development and maintenance of the Springfield Ranges and that it was understood that a long-distance range would be developed for the use of RNBRA members. The Chairperson of the Fullbore Section will communicate with the Springfield Board of Directors seeking access to the long-distance range.
     2.  Approximately $4600 remain in The M. Ellen MacGillivray Fund held by the RNBRA and the Board of that organization is not willing to repatriate this sum to the Fullbore Section as it cannot be proved that Dr. MacGillivray had intended this fund to be used exclusively for Fullbore Shooting purposes. Members of the Executive agreed that the Fullbore Section would relinquish it's claim to this fund as it would create and aggravate a conflict situation.
     3.  Investment of Funds - An investment strategy and guiding principles need to be formalized. The Chairperson will draft a policy statement to be circulated to the Executive.
Secondly, a Fund Administration committee comprised of the Chairperson or his/her designate and the Treasurer or his/her designate will be appointed to this committee. It was suggested that Conrad L. be approached given his experience.            
It was agreed that in order to grow the principle amount in the various funds 1/2 of the funds would be invested fairly aggressively while the other 1/2 would be invested conservatively. The Chairperson of the Fullbore Section will discuss this goal with the TD and RBC banks.
     4.  Disbursements of Earnings of the Funds - It was agreed that only the earnings of the funds be used and that the principle not be touched. A decision is to be made at the beginning of each year by the Executive of the Fullbore Section, as to how specifically these moneys are to be used AND they must only be used for purposes described by the funds' donors.
In 2015, it was agreed that only a minimal withdrawal will be made and that the principle and any additional earnings will be reinvested

Bert deVink
Chairperson - Fullbore Section

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