An extremely important program for the IASC was inaugurated during the 21st Annual Scientific Seminar. It was called the Endowment Fund.
   The idea was conceived by one of our IASC Board Members, Mr. Scott McKnight, and it was in the planning stage until the seminar.
   After the formal welcome was conducted on day one of the seminar, a presentation was made by Mr. McKnight. A 15-minute Industry video following his presentation was generic in nature and was felt to be a great Industry tool.    The video was followed by a power point presentation explaining the need for and the benefits of the Endowment project.
   The objective of this project was to have five million U.S. Dollars or more pledged by IASC members over a 10-year time frame. This money would be put to work and the interest generated would be money to help fund the growth costs and projects desperately needed by the Council. The principle will not be used, only the interest.
Companies funding this Endowment would have tax advantages and the pride in this much appreciated funding.
   The project was designed to have at least five million US dollars pledged before we conclude this drive.
   Naturally, we can look at expansion in the future if we feel it would be advantageous. The total pledge is over a ten-year period. One tenth each year. A fifty thousand U.S. dollar pledge would relate to five thousand dollars annually. For those not in a position to pledge fifty thousand dollars, they can pledge any amount.    Recognition of those pledging and the amount will be in a continual listing on the IASC website and Inside Aloe until the amount is reached. Then a permanent recognition area will be created to remain for posterity in the IASC office. Those that pledge less than fifty thousand dollars will be listed alphabetically by company without the amount shown.

   A special mailing will be made to every IASC member and to new members until our goal is reached. Please start giving this heavy thought and we urge you to respond when your letter arrives.
   When we reach the five million dollar goal in 10 years, this will mean that the full amount is now in the bank and the full amount will be producing revenues of up to one half million dollars per year on a perennial basis.
   Along with the income from membership and certification, this should place the IASC in a position to handle bigger and better projects to enhance the Aloe Industry. The first full year ending in December 2003 should give us a big boost with only one tenth of the full pledge.
   This is probably the most important project ever in our 21 years as an Aloe Association. Please contact us as soon as possible as to what you can do. Together we can make a remarkable difference in building the image of the unbelievable great Aloe market. Your company should grow along with the Industry as the Endowment grows.
   This will be a project to help you, the IASC and the Industry. This is a win win situation.