The INCOSE Foundation approaches its second year with over $65,000 in assets based on contributions from INCOSE members and chapters throughout the world. INCOSE Central has also made significant contributions. In addition, Stevens Institute teamed with the Foundation to present the 2006 Doctoral Award. The Foundation intends to continue making additional awards as soon as the accumulated fund balance reaches $100,000.
In order to realize our goal of supporting more scholarships and research awards, we must reach our first modest financial benchmark of $100,000 in assets by early 2007. Your contribution will make a real difference. The Foundation received its exempt status as a charitable organization from the U.S. Internal Revenue Service in September of 2005, which enables all U.S. donors to claim a charitable deduction on their annual income tax submissions. The Foundation is also exploring ways in which non-U.S. contributions can be solicited in ways that benefit individual donors.
Initially, the Foundation intends to concentrate most of its income on supporting scholarships and research, but over time will also sponsor strategic summits and program awards. The intent is to accumulate enough funds to generate income levels that will enable the Foundation to make significant contributions to achieve our strategic objective of being the authoritative international advocate for the application of Systems Engineering and related disciplines in solving the most pressing problems facing society. To this end, our target is to have more than $5 million in the fund balance within the next decade.
As a matter of information, the Foundation is a separate legal entity from INCOSE but both organizations are closely aligned in philosophy, strategic direction and values. The Foundation has its own separate Board of Directors, several of whom are also elected INCOSE Board members. They are committed to helping the Foundation make a difference in improving people’s lives, and we ask you to join us with whatever contribution you can afford.
All contributions should be sent to the INCOSE Foundation, 2150 North 107th Street, Suite 205, Seattle Washington 98133-9009. Thank you in advance for your support.
For more information on the INCOSE Foundation, visit the information pages on the INCOSE website. All questions may be directed to Shirley Bishop (+1 206-361-6607 or toll-free U.S. 800-366-1164).