United States Submarine Service
YOU raised your hand and agreed to serve in this remarkable service for the United States of America. How important was that time spent by you to your life? We know how important it was and is to the United States, but how important was it to you - personally?
Some of us benefited throughout our lives due to the experiences we lived during this critical time in our own lives. Some of us learned how to navigate through difficult times, navigate through uncharted territory, navigate through a life of challenges and rewards.
We really are and you really are special. We really did accomplish and are today, accomplishing remarkable feats, resulting in a continuing way of life for our families and for our country.
Now is the time to recognize the significant impact that the Submarine Service had on your life. Our USSVI membership is nearly 12,000 members. We are looking for 100 members who will create their Living Legacy Pledge of at least $10,000.
Each year we make awards out of the various funds within the Charitable Foundation that are more than $150,000 helping many with these generous awards. Scholarships, Brotherhood assistance, Kap(SS4Kid(SS), Memorials, Museum Boats, and more. All in support of Submarine Veterans and their families and their legacies.
Today you can make a lasting impact on this. Today you can decide to make a lifetime, lasting impact by making a Living Legacy Gift to your USSV Charitable Foundation of any amount, but a recognizable gift of $10,000 that will be recognized with your designated title for this gift. You can fund the gift with an initial payment of 10% and an annual payment of a minimum of 10% until paid in full. You can add to your pledge at any time. You can pay any amount over 10% annually.
If an initial pledge of $10,000 is out of reach, you can pledge less, and your pledge will be added to other shipmates who also pledge less than $10,000; this will be a pooled Living Legacy fund and treated exactly like a Living Legacy Fund.
All these pledges will be Endowment Funds and will last into perpetuity. Earnings from these funds will be distributed as directed by you if you have Gifted into a Living Legacy Fund.
Will you come aboard as one of our 100 Living Legacy Fund sponsors?
Some fine print:
Your pledge is for the period of 10 years to fully fund at the rate of at least 10% per year. In the event you miss fulfilling this pledge, your Living Legacy funds may be moved to a Pooled Living Legacy Fund and merged with other Living Legacy Funds that were pledged for amounts under $10,000. An exception is in the event you have departed on Eternal Patrol, your Living Legacy Fund will continue as originally established and funded as an Endowment Fund and live into perpetuity.
All funds fall under the quasi-endowment funds classification: Quasi-endowment (also known as Funds Functioning as Endowment—FFE). Reserve funds, financial windfalls, or unrestricted gifts that the board elects to put into endowment are quasi-endowments. Because a future board could vote to remove part or all the quasi-endowment's principal, it is not a true endowment. During the history of the USSV Charitable Foundation over 21 years, all funds identified as endowment funds have been treated as such and there is no indication of any change in the future.
This Living Legacy Pledge form allows for you to select the fund or funds to which you want the annual earnings to be distributed. It asks for at least 90% to be distributed. This allows you to let up to 10% of your fund’s annual earnings to stay in your endowment fund which allows for future growth in principle. Of course, this is a matter of personal choice.