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The Michael Paul Wein Charitable Foundation

"Underpromise and Overdeliver"

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Since our mission includes encouraging universal transparency from our grantees, obviously we also expect to be transparent ourselves.  This page includes our most recent attempt to do so.   Below we disclose as much as we know as of this latest date of posting:

We post this on our web-site, but also instruct  our trustees to publish this information (after the death of the Founder) wherever it is appropriate.

This page includes the following information:

Where this information should be published
Information regarding the source of this Foundation's endowment
Information regarding the beneficiaries of the Founder
Information regarding our endowment
Information regarding our investments, cash flow, and expenses

Where this information  should be published

At very least, the information below should be sent

to Atencion and any other local English-language publications, 
to Rider University and The American Civil Liberties Union Foundation (ACLUF) which are two of the founder's major institutional beneficiaries, 
to all of this Foundation's current grantees, 
as well as to others that might seem appropriate after the Founder's death.

Information regarding the source of this Foundation's endowment

The Will of Michael Wein, the founder of this Foundation, provides for the following distributions of funds after his death.  More historical background can be found at funding and at history-estimates.  The most recent information and estimates are included in this table.   All values are in US dollars.

description of category (according to Founder's will)

Dec 15, 2005

the founder's entire estate is valued at this amount, at this date $7,012.000***
1st, $1,000,000 goes directly to the MPWCF (this foundation) (1,000,000)
if founder's house is sold for more than $1,000,000, the excess also goes to the MPWCF see *** below
2nd, 5% of the remaining balance goes to Rider University and 10% to the American Civil Liberties Union Foundation    (804,000)
3rd, after the above distributions, 30% of the remaining balance goes to sister Gloria, in trust, so that she may have income from this for life.  However, after her death, it goes to the MPWCF.  Gloria was born in 1928 and obviously will not live forever.  (1,562,000)
4th, although there is no way at present to know the status of the USA or Mexican estate tax laws at the date of the founder's death, we over-estimate (very conservatively) that the maximum estate taxes will be this amount or probably less.  (1,200,000)
5th, after all of the above is paid out, any balance is to go to the remaining beneficiaries under the Founder's will with the proviso that IF any of them pre-decease the Founder, their shares go to the MPWCF also (see also founders will  - point c)  (2,446,000)
All of the above means that the MPWCF will get funds from above clauses #1st, #3rd, plus a potential from #5th.  THEREFORE, the following statement is true:  
Amount currently and conservatively calculated to go to The Michael Paul Wein Charitable Foundation, Inc. at very minimum shortly after the Founder's death.  This amount excludes even more funds which might also go to the MPWCF due to the potential of clause #5th amounts, excludes the value of the house in excess of $1,000,000, excludes the value of the Founder's Profit Sharing Plan in excess of $1,000,000, excludes a lower amount for estate taxes, and excludes probable increases in the value of the estate between this most recent calculation and the eventual time of the Founder's death. $1,000.000

  1,562,000

 $2,562,000,  or probably much more (see notes at left of this)

*** the founder's house is included above at its out-of-pocket cost of us$520,000.   However it was appraised by 3 separate and independent  local appraisers  at values of us$675,000, us$695,000, and us$700,000 in October 2001, and San Miguel property values (especially in the centro area where the house is located) have steadily increased since 2001.  In August 2005, the house was appraised at us$1,000,000, almost us$500,000 higher than the value included in above computations.

Information regarding the beneficiaries of the Founder

The primary beneficiaries of the founders will are this foundation (the MPWCF), the American Civil Liberties Union Foundation (ACLUF), Rider University, and individual persons who are related to or friends of the Founder (both in San Miguel and in the USA).

These beneficiaries, as of our most recent calculations, are to receive:

Beneficiaries current estimate of bequests
The MPWCF - almost immediately after death     $1,000,000
The MPWCF - upon identifying the pre-deceased beneficiaries    undeterminable  at this point
The MPWCF - upon sale of Founder's house        only if proceeds are more than $1,000,000***
The MPWCF - upon death of Founder's sister      $1,562,000
The MPWCF - total of all of the above bequests      $2,562,000
Rider University         $268,000
The ACLUF         $536,000
Friends and relatives, both in Mexico and the USA      $2,446,000

Information regarding our endowment

The Foundation's endowment is expected to come entirely from the execution of the founders will.  While the estate is currently valued as shown above, the estate has a long history of growing as the Founder's needs were always less than his income (both from investments and other sources).  Therefore, the estate might be expected to continue to grow in amounts similar to those shown on the history & estimates web-page.

Information regarding our investments, cash flow, and expenses

Prior to his death, the Founder currently provides funds that are distributed to current grantees.  These grants are relatively modest in amount now and are intended to approximate the net profit from the rental of two apartments attached to his San Miguel house.

However, shortly after the founder's death, the following cash flow is expected to occur.   A report to this effect is to be published annually (and sent to all parties noted at the top of this page, at the end of each of our June 30th fiscal years) and is to follow the formats shown below (in the  investment summary, the cash flow summary, and the listing of overhead expenses).

The trustees should be reminded that the instructions to the Trustees (see more about this at Our trustees web-page) state that the Investment endowment is to increase (on average) from year to year in order for the endowment to keep up with inflation.

The investments summary should look like this ($000 omitted) (using 2016 and 2015 as random example years):

Description June 30 2016 June 30 2015 Increase (decrease) Explain (if necessary)
Investments at end of last year $2,825 $3,000    ($175)       (a)
Purchases at cost    (100)          0      (100)       
Sales at net received      225      125       100  
Income received       125      120            5  
Gain (or loss) in value      420    (170)        590       (a)
Transfers of cash for use in paying grants     (240)    (240)            0  
Investments at end of this year  $3,245 $2,825       $420       (a)

Note (a) - The entire market went down in 2015 (the Dow decreased ___% and our investments decreased ___%, quite comparably.  However, we more than made it up in 2016 by basically following our "hold" philosophy and "just good companies" investment policy.   We also accomplished our goal of keeping up with inflation as the $3,000 at the beginning of the two years increased to $3,245 at the end of the two years, a 4.08% average increase for each of the two years 

The cash flow summary should look like this ($000 omitted) (using 2016 and 2015 as random example years):

Description June 30 2016 June 30 2015 Increase (decrease) Explain (if necessary)
Cash at end of last year  $       6 $          2     $      4  
Income received (as above)       125         120              5  
Net of sales (or purchases) (as above)       125         125              0  
Income received on these money accounts           1             1             0  
Paid to our grantees       (242)        (238)            (4)        (b)
Overhead (see below)           (8)            (4)            (4)  
Cash at end of this year  $        7  $         6   $         1  

Note (b) - we were able to keep our payments to our grantees relatively constant (and at least equal to the prior year) even with a drop in the endowment.   The payments to grantees approximated 8% in both years. 

And finally, since our mission also looks highly on grantees who have low overhead to high mission percentages, we offer our own transparent view of our own overhead expenses.

Description June 30 2016 June 30 2015 Increase (decrease) Explain (if necessary)
Payments or other benefits to officers and trustees, etc. $          0 $          0 $          0  
Professional or other fees to outsiders, etc.     2,500     1,500      1,000        (c)
Rent, utilities, and other similar expenses            0             0             0  
Office expenses        484         319         165  
Entertainment, etc.            0             0             0  
Other (explain)    5,331     2,109      3.222        (c)
Other (explain)            0             0             0  
Other (explain)            0             0             0  
Other (explain)            0             0             0  
Total non-mission payments     $8,315     $3,928   $4,387  
Note (c) - this is just for illustrative purposes (this is where you would explain a significant variation) as I can not at this date (2005) guess what, how, when, or where, overhead might occur.

 

Send all e-mail to mpwinsma@gmail.com with any questions or comments about this web site. SPECIFY EXACTLY (using copy and paste) (and mentioning this page name) what your question or comment refers to.   Note: in the event that the above information is no longer accurate, see the newer web-page listing various subsequent changes to this web-site after the founder's death.
Copyright 2000-2005 The Michael Paul Wein Charitable Foundation, Inc