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|Tom Powers Fund Guidance Document|
Tom Powers Fund Guidance Document
In 2012, Thomas Powers, a founding and longtime member of the AAVPT, bequeathed approximately $34,000 to the AAVPT. Although these funds were not allocated to any specific purpose, the Executive Council of the AAVPT felt that they should be used in a way that recognized the contribution of Tom to the profession. An ad hoc Tom Powers Fund committee was formed (Carol Davis – chair, Mark Papich, Anthony Lucas and Ronette Gehring) to come up with ideas on how to use the funds.
In January 2016, the Executive Committee of the AAVPT reviewed recommendations of the ad hoc committee and voted that proceeds from this fund were to be used to support a distinguished speaker to present the keynote address at the Biennial Symposium of the AAVPT.
Specifics of this include:
The principal and any earned interest will be maintained in a separate fund, explicitly for the purpose of supporting the keynote speaker.
The keynote speaker’s presentation will be known as the “Tom Powers Keynote Address”.
The speaker will be selected by the AAVPT biennial symposium organizing committee based on the theme and objectives for the symposium.
The proceeds from the fund will be used, if required, to cover travel, accommodation and an honorarium for the keynote speaker.
The total amount available for the keynote speaker will be equal to the interest earned since the last biennial symposium.
If additional funds are required in excess of the amount of interest earned since the last biennial symposium, the additional money will come from the budget of the upcoming biennial symposium.
If less than the total amount of interest earned since the last biennial symposium is required, the unused money will remain in the fund, increasing the principal in the fund (for clarity, any unused interest does not carry over between biennial symposia).
If the keynote speaker does not require or is unable to accept the money, the speaker can either donate the money back to the Tom Powers fund or to the VPRF. If the money is donated back to the Tom Powers fund, the money will increase the principal of the fund.