The Michael Paul Wein Charitable Foundation

"Underpromise and Overdeliver"

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The founder's estate is conservatively valued at, and distributions are to be made from, the following amounts.   All values are in thousands of US dollars (as in $000 omitted).  Values shown are as of various year-end December 31st dates:

description of category (according to Founder's will) 12/31/96 12/31/03 12/31/04
estate's entire value (except house is valued only at cost **) on (date in column) (for the history of these values, see history)  $3,517.0 $5,803.6 $6,509.8
1- the highest of the following ($1million dollars, or the value of my house, or the value of my profit sharing account) goes directly to the MPWCF n/a (1,000.0) (1,000.0)
balance left for additional clauses in my will $3,517.0 $4,803.6 $5,509.8
2-of this balance, 5% goes to Rider University. and 10% to the American Civil Liberties Union Foundation (527.6) (720.5) (826.5)
balance left for additional clauses in my will $2,989.4 $4,083.1 $4,683.3
3- 30% of this goes to my sister, Gloria, in trust, so that she may have income from this for life; after her death, it goes to the MPWCF.  Gloria was born in 1928 and obviously will not live forever (896.8) (1,224.9) (1,405.0)
balance left for additional clauses in my will $2,092.6 $2,858.2 $3,278.3
4- there is no way at present to know the status of the USA or Mexican estate tax laws as of today, but I over-estimate (and very conservatively) that the maximum estate taxes will be these figures (650.0) (900.0) (1,000.0)
balance left for additional clauses in my will $1,442.6 $1,958.2 $2,278.2
5- all of the above balance is to go to the remaining beneficiaries under my will with the proviso that IF they do not outlive me, their shares go to the MPWCF also (see also founder's will - point c) ($1,442.6) ($1,958.2) ($2,278.2)
All of the above means that the MPWCF will get funds from above clauses #1, #3, plus a potential from #5 (if I outlive some of my other beneficiaries) - THEREFORE, the following statement is true:      
Amounts to go to The Michael Paul Wein Charitable Foundation, Inc. at very minimum (this excludes even more funds which might also go to the MPWCF due to the potential of clause #5 amounts) as of these dates

there was no MPWCF in 1996

 $2,224.9 $2,405.0

** 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.

It should be noted that there are clauses in the founders will to protect him from harm.  If there was any possibility that his death or disability was from unnatural causes, such as from murder, abuse, or other harm  caused by either friends or foes, including medical malpractice,  the first duty  of the executor or  executrix is  to allot  us$x00,000 ($x00.0 of the above) to  a fund  which is to be  used to Investigate,  pursue,  and  then  prosecute the  offending  individual  or individuals.  

Another provision in the founders will that ensures continuation of the Founder's wishes can be read by you at the very bottom of founders will (written in larger print and in the color red). This ensures outsider's independent review of the Foundation's operations after the Founder's death.

It should ALSO be noted that the above endowment will most probably increase significantly as the years go on.  See more about the expected increases in history&estimates. 

For informational purposes only, the "estate's entire value (except house is valued only at cost **) on" line was valued at us$7,042,000 as of November 22, 2005, and the preliminary value as of December 31, 2005 is $6,998,000.  Even more current information may be found at our recent status web-page

 

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.
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