Why a Masonry Foundation?
The Masonry Foundation will provide perpetual resources for our industry
The industry needs to build an endowment to actively work to promote masonry as a system through continued research and education. As an industry we have little resources to keep pace with competitors.
The industry needs a perpetual funding source. One that will never end, run out of money, lose political favor, etc. A well supported endowment will do just this. By constitution, the Foundation can’t touch the endowment, only the proceeds from the endowment (with the exception of start-up costs and BIM funding which must be repaid to the endowment). A 5 million dollar endowment will produce on average $250,000 per year; a 10 million endowment would produce a half million dollars a year. While our phase 1 and phase 2 goals are to reach 5 million, there are many who believe and the initial research showed that the industry could and was willing to support a 10 million dollar endowment.
“There is nothing as important to this industry as securing a healthy and stable future for our members.”
- Mackie Bounds, Brazos Masonry, Inc.
If the Foundation reaches its 5 million dollar goal soon, likely a phase 3 will be added to raise our goal.
The Foundation will provide perpetual resources for our industry while at the same time allowing the Board to review the needs of our industry and to respond quickly to its needs.
The Foundation is a separate independent 501 C3 corporation. It has a separate governing board and is for the industry. It has no current plans for staff and is administered by the MCAA.
Foundations permit businesses and individuals the highest level of return on their investment through tax breaks. Everyone should check with their financial advisors for specific details.
The Foundation will enable the industry to go on the offensive and develop plans to take back market share through education and research. See the prospectus for some of the goals identified for the foundation in our initial survey of the industry.
The Foundation enables individuals to create a legacy by allowing them to engage in planned giving to the foundation. They can give back to an industry that provided their livelihood utilizing their wills. Not only is this a way for them to leave a legacy, it has tremendous tax advantages to the estate and allows the individual to leave money to their industry rather than Uncle Sam.
There are so many more benefits and reasons why our industry needs a robust and healthy foundation and perpetual endowment. The real question should be why not and what took so long? For more information on The Masonry Foundation visit www.masonryfoundation.org or to make a pledge contact the MCAA office today at 224-678-9709.
About the Author
Jeff Buczkiewicz is the President and CEO of the Mason Contractors Association of America. Jeff has worked in the masonry industry for several years as the Executive Vice President of the Building Stone Institute and the Director of Marketing and Membership for the Mason Contractors Association of America. Jeff has also served as Secretary on the Board of the Natural Stone Council and is a former Board Member of the StonExpo Federation.