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Investment Fund

6 bytes added, 20:27, 21 August 2016
One of the funds maintained on the books of The Augustan Society, Inc., is the '''Investment Fund'''. This fund is restricted by tradition, and may be restricted by the terms of an original grant. The grant not yet having been found in the files, that point is at present indeterminate.
The Investment Fund monies came primarily from the sale of the [[Villa Augusti]] in 2007. The funds to purchase that property came from a grant from the late Cdr. George Balling, OAE, who gave the Society $300,000 with the restriction that it be used for capital purchases only. (The preceding restriction is from living memories, the text of the grant not being available.) Some will argue that the money from the sale (which was probably less than the original amount) still carries this restriction. Some will further argue that the full amount of the initial grant should be so restricted, thus encumbering contributions to the Fund not yet made.
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