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2009-10_Report-Edith Johnston Trust 

Submitted by Webmaster on   3/7/2011
Last Modified

ANNUAL REPORT OF THE EDITH JOHNSTON
MEMORIAL TRUST FUND

Presented by Phil Krahn at the Circus Fans Association of America
2010 Annual Convention at Grand Rapids, Michigan

The Edith Johnston Memorial Trust Fund committee is pleased to report that in 2010 three of the ten qualifying requestors received grants totaling $2,200.00 from the Edith Johnston Memorial Trust. Recipients were:

Wenatchee Youth Circus, Wenatchee, WA $1,000
Circus City Festival, Peru, IN $ 700
Openair Circus, Somerville, NY $ 500

The fiscal year of the trust is from May 1 to April 30. The value of the fund at April 30, 2010 was $103,843.95 and the annual income was $2,531.78. We are pleased to report that the trust value increased from last years ending value of $89,107.17. Maturing CD’s were used to purchase U. S Treasuries to maintain the 20% required to be invested in “direct obligations of the U. S Treasury.” With CD rates, Treasury rates, and dividends at low values it is expected that the current fiscal year income will be less. Expenses for the 2009-2010 fiscal year have been $260.42 for the Morgan Stanley Smith Barney service charges and $37.21 for stationery supplies and postage.

With my term as a member of the board expiring I thank all present and past committee members, the White Tops editors, Cheryl Deptula and Mary Banister (trust secretary-treasurer), for their support in the team effort that has allowed the fund to grow from Mrs. Johnston’s initial grant of $88,644.85 to 103,843.85 and make eighteen grants totaling $14,900. I think we are accomplishing what Edith Shrimplin Johnston wanted CFA to do.

Respectfully submitted,
Phil Krahn, Chairperson

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