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KP4IG > SAT 28.11.03 23:15l 123 Lines 5252 Bytes #999 (0) @ AMSAT
BID : ANS-334.01
Read: GUEST
Subj: AMSAT-NA President November NewsLetter
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Sent: 031128/2106Z @:KP4IG.#JD.PR.USA.NA #:9518 WFBB7.00i $:ANS-334.01
From: KP4IG@KP4IG.#JD.PR.USA.NA
To : SAT@AMSAT
AMSAT News Service Bulletin 334.01 From AMSAT HQ
SILVER SPRING, MD. November 30, 2003
To All RADIO AMATEURS
BID: $ANS-334.01
The Buck Stops Here.
Greetings and a Happy Thanksgiving to all USA readers.
As President of AMSAT-NA, I am responsible to provide to you the information
which you need so that you can support the Funding of our Projects.
Several of you have been asking questions on the AMSAT-BB about the funding
of ECHO and the need for an ECHO launch Campaign fund. Let me start off by
saying that I have not read AMSAT-BB for some time as I try and deal with
some forty AMSAT related letters each day and reading the -BB would make
life almost impossible, so with no apologies I state that I don't read -BB.
However I do get briefed on the contents, regularly by AMSAT Officers.
I will try and answer some of your questions one by one below:-
1) How much does ECHO cost.
There is no exact answer to that, because as you know we entered into a
contract with SpaceQuest of Fairfax Virginia to build the "Basic Parts of
ECHO".
As in most commercial contracts there was a clause which prohibits AMSAT
from releasing the actual value of the satellite, however I can tell you
that I believe the price was very fair and I doubt that we (AMSAT-NA) could
have designed, built and tested ECHO for close to this figure, particularly
as ECHO does use the triple Junction High effeicieny (27%) Solar Cells. I
estimate that with SpaceQuest, AMSAT-NA additions and experiments, Export
permits, meeting ITAR requirements,Testing, Launch etc the total
expenditures will be in the order of $350,000.
A real bargin for a complex satellite.
2) Where did AMSAT-NA get the funding from for ECHO?
The funding for ECHO was taken from our reserves, a large proportion of
which came from the work done by AMSAT-NA Builders & Designers on the
University of Toronto MOST project.
3) Why cannot the reserves pay for the launch?
AMSAT-NA has to maintain a small reserve of about one years operating
expenses, according to our Accountants, we are around that level now. If
the ECHO launch were paid for from the remaining reserves we would fall
below thesafe operating level.
4) Why have our reserves fallen so low?
In the year 2000 our reserves were over $600,000 mostly in good investments,
but they had got there through both good investing and the rapid escalation
of the Stock market in that year. You may recall that during 2000 the
market bubble burst and with 911 ENRON, WorldCom etc. the Market continued
to slide until this year. In January we had lost about $100,000 and our
payments for ECHO were coming due.
AMSAT-NA was fortunate to have a good Security and Investment advisor who
had our investments well diversified, so we lost comparatively a smaller
amount.
5) You have posted a "Thermometer" on the web Page where did this $22,000
come from?
Members have provided only $7053 of this amount. The rest is a gift from
AMSAT-UK Somebody on the web page suggested that "$25 dollars from each
member would be enough" - Yes that is Theoretically true, BUT remember there
are Members who cannot pay, Members who will not pay and Members who forget
to pay. That puts the average amount to about $125 not $25
6) If there is surplus money in the reserves after ECHO has been launched,
what will AMSAT-NA do with it?
In addition to being a financial operating reserve for our day to day
operations, the reserve is also a building fund reserve which enables us to
continue with the design and development of new satellite projects so that
satellite construction can continue between "funding appeals".
Our next satellite "Eagle" has continued at a very low activity level during
the rapid design, development and construction of ECHO. Once ECHO is "up and
running" AMSAT reserve dollars will be applied to Eagle.
7) You mentioned in a previous letter that AMSAT-NA was sending a person to
the launch site is this really necessary?
The State department requires that every satellite developed in the USA must
have a US citizen with it at all times up to launch. (ITAR rules). In
addition it is very advisable to have a person who understands the
satellite present, to monitor progress and see that all systems are
functioning at launch time. So yes, it is necessary.
8) If I donate to the ECHO Launch Fund, can my donation also be a part of
the "President's Club"?
Yes, it most certainly can. For our accounting purposes make sure that
Martha (in the office) understands that you want the money to go to the
Launch Fund - but you also want President's Club recognition.
9) Is there any limit to the amount I can give?
No Limit at all, It is a good way to get a Tax letter from AMSAT-NA.
Remember if you donate early then you may be able to reduce your amount of
Tax payable next year (USA Members only).
I am sure that you have other questions you would like me to answer on this
subject, if so please post them directly to me (VE3FRH@amsat.org) and I will
reply via the December Presidents Letter.
Once more have a great Thanksgiving weekend....
73
Robin Haighton VE3FRH
President AMSAT-NA
[ANS thanks Robin Haighton VE3FRH for the above information]
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