Things have been relatively quiet since our last great reunion in April.  We’ve gained another life member and a donation from the Hampton’s Road Chapter as they have disbanded.  The donation was sadly in memory of Donna Crossley.  Tom continues to support us as an assistant Secretary/Treasurer, and he prints and snail mails the Aerograph to the few who still prefer receiving it that way.  If you are receiving the Aerograph via snail mail, it would be great if you could donate $10 or more to help us pay for the printing and mailing (Thanks AGCM Bonk!). 

We continue to be in great financial shape. The end of our fiscal year was 30 June, and our bank account looks like this:

Checking account = $39,810.71 Allocated:

Life Members fund = $1,975.94

Scholarship fund = $240.00 – This will be sent to the AMS this month.

Reunion fund = $5,108.40

General fund = $32,486.37

Finances (From REUNION #49 EXECUTIVE BOARD MEETING 14 April 2026)

The Association is holding a total (3 CDs and checkbook) of $41,075.78 as follows:

Checkbook = $5,354.00, breakdown:

General fund = -$252.30

Life members fund = $1,625.94

Scholarship fund = $240.00

(Includes a $200 donation from Richard          Schultz in memory of Moon Mullen)

Reunion fund = $3,740.36

3 CDs combined value = $35,721.78

Members = 280

Life members = 263

Dues paying members = 17

Aerograph

EMAIL = 230

USMAIL = 15

UNKNOWN ADDRESS OR EMAIL ADDRESS = 46

Note that the general fund as shown above is negative $252.30, with most of the operating expenses going to website management (hosting) and shipping from Tom Miovas to me as S/T transition.  The available checkbook funds have a balance of $5,354.00.  As of 28 April 2026, we have gained three new dues-paying members and two life members since the last reunion.  We received two scholarship fund donations totaling $15,000 that were immediately forwarded to the AMS.  The three CDs listed are all maturing the week of 20 April 2026.

Secretary/Treasurer requested that we roll the smaller CD ($4,379.32) into the operating funds (checkbook) to maintain working funds.  A motion was made, seconded, and approved without further discussion to roll the smaller CD into the general fund account.

A motion was made that the Secretary/Treasurer to combine the two larger CDs into one CD with the best interest rate available.  Motion was seconded and approved after much discussion.

A motion was made to have the Secretary/Treasurer investigate the possibility of moving our accounts to a Navy Federal or other account at a higher interest rate.  S/T will confirm with the Board before making any movement of Association funds.  Motion was seconded and approved after discussion.

Shipmates,

The Association is in good financial standing. A break-down follows:

                        Life Members fund =   $1,450.94

                        Scholarship fund =             $0.00

                        Reunion fund    =         $3,810.75

                        General fund =                $561.64

                        In the Check book =     $5,823.33

                     Three CDs for a total of $35,356.90

The Association is holding a total of $41,180.23

Mailed two checks to AMS for our scholarship fund as follows:

$5,438.00 membership donations

$10,000.00 from CDR Frank McGayhey bequest

Membership = 278

            Life Members = 258

            Dues paying Members =20

For a total of 278 members, 228 receive the Aerograph via email, 15 via snail, and 1 via the WEB. 34 members have no current email or home address on file, obviously not active.

S/T Tom Miovas

The conclusion to my second term as your Secretary Treasurer is coming to an end. Cap Casperson will be taking up the torch as your Secretary Treasurer.    Cap if you have any questions, you have my number. With Cap the association will be in good hands.

Now onto my last report.

The Association in financial in good standing. A breakdown follows:

                                General fund =          $  954.93

                                Life Members fund = $1450.94

                                Scholarship fund =    $  438.00

                                Reunion fund =         $ 3810.75

                                In the Check book = $6654.62

                Three CD for a total of $35354.43

The Association is holding a total of $40,009.05

Membership = 282

                Life Members = 260

                Dues paying Members =22

For a total of 282 members, 229 receive the Aerograph via email, and 16 via snail mail and one via the WEB. 34 members have no email addresses or home addresses even though they are in the files as members, obviously not active.