June 2022 update: Class of ’72 Plank-Owner Campaign Project

Posted: 6/15/2022

So close…and yet so far away

Welcome to summer 2022, and only four months until our 50th reunion in October. At the class business meeting, I’ll provide a report regarding how we’ve done with respect to our last successful campaign (the ’72 Athletic Facility & Excellence) and our current Class of ’72 Plank- Owner Campaign. By the way, I’ll also be leading a tour during the weekend of Rickett’s Hall and the Class of 1972 Sports & Rehabilitation Centre, so watch for further details.

In summary, our last campaign (which is finishing up this year) has gone great. We set a goal of $5 Million, we’re now just around $7 Million, and almost half of you are participating. No other class in the history of USNA has achieved this!

However, our current campaign (goal of $750K) needs some help. We’ve raised $650K with 55 classmates participating….so close! Can we close the gap before the reunion?

First some background on our current campaign:

  • We’re raising funds for the new Alumni Association & Foundation Centre (AAFC – see image below), which is currently being constructed outside the Yard & across the road from the baseball field. It’s a $36 Million project. Many classes are helping to fund it.
  • Our $750 K will go toward: (1) A class naming opportunity ($500 K) for a conference room AND (2) a $250 K class major “plank-owner” plaque that would be displayed with other class plaques in the North Garden Terrace (see images below). Funds raised so far mean we have either the “plaque”, or the conference room…but not both.
  • For those of you that pledged a full five years to our last successful campaign, your last pledge comes due this year (2022). Please consider extending your pledge to this new campaign from 2023 onward (up to five years). Here’s a link to our class pledge form, which can be filled out online, saved, and sent directly to USNA via an e-mail: http://www.bit.ly/72pledgeform

The facility—targeted to open in 2023—will provide a premium venue for a wide range of alumni events, enhance Alumni Association and Foundation operations, and providing ideal space to celebrate alumni achievements.

  • Some of you with IRAs might consider using a portion of your required minimum distribution (RMD) which begins for us at age 72. Your RMD will be counted by the IRS as income, meaning you’ll need to report it for both state and federal taxes. HOWEVER, if you use all/some of your RMD as part of a qualified charitable deduction (QCD), you to avoid paying taxes on the amount being donated. Here’s a link with more information on the QCD: http://www.usna.com/plannedgivingIRAQCD.

Now, here’s the kicker. One of our classmates has made a commitment that he’s willing to match, dollar for dollar, any pledge up to a cumulative $50K! So, if those of you out there on the fence, and already thinking about helping, this is the way for us to make up that last $100K. This classmate wants to remain anonymous (no, it’s not the same one as in the last campaign).

We have until the end of this year to close out our pledges for this current campaign, but my personal goal is for the class to reach goal BEFORE our class meeting so that I can report that the class of 1972 has met or exceeded its goal in every 5-year cycle for the last 20 years!

So, if you are interested in participating in the class “plank-owner” campaign but have not yet gotten around to filling out the pledge form, please consider doing so now by clicking on the link provided above. If you have an IRA, please consider saving yourself the income tax “hit” by using the QCD tool to donate directly from your IRA.

Thanks again for your support on this. Let me know if you have questions or need some help!

Jeff Beard (jeffreyb72@icloud.com).