The Investment Fund of Esperanto-USA was originally started with large donations by John Massey and the estate of Ella Gibson. The principal was not available for use without a direct vote by the Board. In 1991, the Board voted to split the fund into its two components, The Gibson Fund and the Massey Fund.

Over the years a number of funds have been added. The Investment Committee manages all the investments held by a broker. Interest earned from these investments is allocated quarterly to each of the funds proportionally. Currently D. Gary Grady heads the Investment Committee.

Unrestricted funds

In the past, ELNA used some of the funds from the Gibson Fund for operational expenses, currently leaving $24,894 in this fund. Any interest earned by the Gibson fund is placed into the General Fund, thus making it available for current expenses.

The H. E. Reed Education Fund consists of quarterly receipts from the estate of H.E. Reed. The capital is held in the form of a Trust, with ELNA as sole Trustee. Income is used by Esperanto-USA towards various expenses of promoting Esperanto through Education. This use of the funds is shown on the Investments statement as a transfer to the General Fund. Esperanto-USA Commissioner for Wills and Gifting, William R. Harmon, is responsible for administration of the Trust.

The Life Membership Fund consists of the income received from everyone who contributed toward a life membership (currently at $800). Each year an allocation is made to annual dues as an amortization of the life memberships outstanding.

The Glenny Fund was established to place copies of the Richardson Book into libraries. No guidelines have been established for the use of the fund, therefore the fund will continue to grow until such guidelines are established. The Esperanto Library Committee is currently headed by Orlando Raola.

The Publishing Fund was established to finance publishing projects of Esperanto-USA. Each year 50% of the profits from the sale of these books is allocated back into this fund for future publishing projects. Tim Westover currently heads the Publishing Committee.

Donations are welcome to the Gibson Fund, the Glenny Fund, and the Publishing Fund for their respective purposes. Life membership contributions can be made at any time and, as the name implies, carry with them the benefits of life membership in Esperanto-USA.

Other funds

The Hester Renfro Wood Fund was created by Margaret Zarchy to honor her mother. The interest from this fund was used for scholarships to help worthy students attend the SFSU summer Esperanto courses. This fund was closed in 2000 and the money transferred by the request of Margaret Zarchy.

The History Fund was initiated by Gigi Harabagiu to eventually produce a book on the U.S. Esperanto movement. This book was produced in 2002 and all the money was used for the publishing costs.

The next article will explain the remaining funds.