Admiral Carey’s 100 Year Vision for the the organizations he endows.$10,000 Annual Endowment Time-phased Pro Forma

The following schedule is based on a beginning annual endowment of $10,000, showing time-phased proforma results with the AJJC Foundation required 5% maximum annual distribution and based on an annual asset-base growth of 5%, both for the AJJC Foundation AND for the accumulated residual at the endowed organization. To adjust for endowments that are greater or less, simply extrapolate accordingly. We chose the $10,000 figure because it is a round number and thus easier to deal with in the extrapolation process.

AJJC Base Year	Residual Annual Endmt.	Less AJJC Required Accumulate	Post Maximum	Distribution Balance	Plus 5% ROI	Year-end Balance
1	$10,000	$9,500	$500	$9,500	$475	$9,975
2	$10,500	$20,000	$1,000	$19,000	$950	$19,950
3	$11,025	$30,995	$1,549	$29,426	$1,471	$30,893
4	$11,576	$42,469	$2,123	$40,346	$2,017	$42,363
5	$12,154	$54,518	$2,726	$51,792	$2,590	$54,382
6	$12,762	$67,144	$3,357	$63,789	$3,189	$66,978
7	$13,400	$80,378	$4,019	$76,359	$3,818	$80,177
8	$14,070	$94,247	$4,712	$89,535	$4,477	$94,012
9	$14,774	$108,786	$5,439	$103,347	$5,167	$108,514
10	$15,513	$124,027	$6,201	$117,826	$5,891	$123,717

At the end of 10 years, an initial $10,000 annual endowment from the Admiral James J. Carey Trust administered in accordance with the required donor restrictions will have grown into a fund valued at $123,717 while at the same time also having provided $31,626 in operating funds.

11	$16,289	$140,006	$7,000	$133,006	$6,650	$139,656
12	17,104	$156,759	$7,838	$148,921	$7,446	$156,367
13	$17,959	$174,326	$8,716	$165,609	$8,280	$173,889
14	$18,887	$192,746	$9,637	$183,109	$9,155	$192,264
15	$19,831	$212,095	$10,605	$201,490	$10,075	$211,565
16	$20,823	$232,388	$11,619	$220,769	$11,038	$231,807
17	$21,864	$253,671	$12,684	$240,987	$12,049	$253,036
18	$22,957	$275,993	$13,800	$262,193	$13,110	$275,303
19	$24,105	$299,408	$14,970	$284,438	$14,222	$298,660
20	$25,310	$323,970	$16,198	$307,772	$15,389	$323,161

At the end of 20 years, an initial $10,000 annual endowment from the Admiral James J. Carey Trust administered in accordance with the required donor restrictions will have grown into a fund valued at $323,161 while at the same time having also provided $144,693 in operating funds.

21		$26,576		$349,737		$17,487		$332,250		$16,613		$348,863
22		$27,905		$376,768		$18,838		$357,930		$17,897		$375,827
23		$29,300		$405,127		$20,256		$384,871		$19.244		$404,115
24		$30,765		$434,880		$21,744		$413,136		$20,657		$433,793
25		$32,303		$466,096		$23,305		$442,791		$22,140		$464,931
26		$33,918		$498,849		$24,943		$473,906		$23,695		$497,601
27		$35,614		$533,215		$26,661		$506,554		$25,328		$531,882
28		$37,395		$569,277		$28,464		$540,813		$27,041		$567,854
29		$39,265		$607,119		$30,356		$576,763		$28,838		$605,601
30		$41,228		$646,829		$32,342		$614,487		$30,724		$645,211

At the end of 30 years, an initial $10,000 annual endowment from the Admiral James J. Carey Trust administered in accordance with the required donor restrictions will have grown into a fund valued at $645,211 while at the same time also having provided $389,089 in operating funds.

31		$43,289		$688,500		$34,425		$654,075		$32,703		$686,778
32		$45,453		$732,231		$36,612		$695,619		$34,781		$730,400
33		$47,726		$778,126		$38,906		$739,220		$36,961		$776,181
34		$50,112		$826,293		$41,315		$784,978		$39,249		$824,227
35		$52,618		$876,845		$43,842		$833,003		$41,650		$874,653
36		$55,249		$929,902		$46,495		$883,407		$44,170		$927,577
37		$58,011		$985,588		$49,279		$936,309		$46,815		$983,124
38		$60,912		$1,044,036		$52,202		$991,834		$49,591		$1,041,425
39		$63,958		$1,105,383		$55,269		$1,050,114		$52,506		$1,102,620
40		$67,156		$1,169,776		$58,489		$1,111,287		$55,564		$1,166,851

At the end of 40 years, an initial $10,000 endowment from the Admiral James J. Carey Trust administered in accordance with the required donor restrictions will have grown into a fund valued at $1,166,851 while at the same time also having provided $845,923 in operating funds.

41		$70,514		$1,237,365		$61,868		$1,175,497		$58,775		$1,234,272
42		$74,040		$1,308,312		$65,416		$1,242,897		$62,145		$1,305,042
43		$77,742		$1,382,784		$69,139		$1,313,645		$65,682		$1,379,327
44		$81,629		$1,460,956		$73,048		$1,387,908		$69,395		$1,457,303
45		$85,710		$1,543,013		$77,151		$1,465,862		$73,293		$1,539,155
46		$89,996		$1,629,151		$81,458		$1,547,694		$77,385		$1,625,079
47		$94,496		$1,719,575		$85,979		$1,633,596		$81,680		$1,715,276
48		$99,221		$1,814,497		$90,725		$1,723,772		$86,189		$1,809,061
49		$104,182		$1,913,243		$95,662		$1,817,581		$90,879		$1,908,460
50		$109,391		$2,017,851		$100,892		$1,916,959		$95,848		$2,012,807

At the end of 50 years, an initial $10,000 annual endowment from the Admiral James J. Carey Trust administered in accordance with the required donor restrictions will have grown into a fund valued at $2,012,807 while at the same time also having provided $1,647,261 in operating funds.

51	$114,861	$2,127,668	$106,383	$2,021,285	$101,064	$2,122,349
52	$120,604	$2,242,953	$112,148	$2,130,805	$106,540	$2,237,345
53	$126,634	$2,363,979	$118,199	$2,245,780	$112,289	$2,358,069
54	$132,966	$2,491,035	$124,552	$2,366,483	$118,324	$2,484,807
55	$139,614	$2,624,421	$131,221	$2,493,200	$124,660	$2,617,860
56	$146,595	$2,764,455	$138,223	$2,626,232	$131,312	$2,757,544
57	$153,925	$2,911,469	$145,573	$2,765,896	$138,295	$2,904,191
58	$161,621	$3,065,812	$153,291	$2,912,521	$145,626	$3,058,147
59	$169,702	$3,227,849	$161,392	$3,066,457	$153,323	$3,219,780
60	$178,187	$3,397,967	$169,898	$3,228,069	$161,403	$3,389,472

At the end of 60 years, an initial $10,000 annual endowment from the Admiral James J. Carey Trust administered in accordance with the required donor restrictions will have grown into a fund valued at $3,389,472 while at the same time also having provided $3,078,061 in operating funds

61	$187,096	$3,576,568	$178,828	$3,397,740	$169,887	$3,567,627
62	$196,451	$3,764,078	$188,204	$3,575,874	$178,794	$3,754,668
63	$206,274	$3,960,942	$198,047	$3,762,895	$188,145	$3,951,040
64	$216,588	$4,167,628	$208,381	$3,959,247	$197,962	$4,157,209
65	$227,417	$4,384,626	$219,231	$4,165,395	$208,270	$4,373,663
66	$238,788	$4,612,451	$230,623	$4,381,829	$219,091	$4,600,920
67	$250,727	$4,851,647	$242,582	$4,609,065	$230,453	$4,839,518
68	$263,263	$5,102,781	$255,139	$4,847,642	$242,382	$5,090,024
69	$276,426	$5,366,450	$268,323	$5,098,128	$254,906	$5,353,034
70	$290,247	$5,643,281	$282,164	$5,361,117	$268,056	$5,629,173

At the end of 70 years, an initial $10,000 annual endowment from The Admiral James J. Carey Trust administered in accordance with the required donor restrictions will have grown into a fund valued at $5,629,173 while at the same time also having provided $5,349,583 in operating funds.

71	$304,759	$5,933,932	$296,697	$5,637,235	$281,862	$5,919,097
72	$318,997	$6,239,094	$311,955	$5,927,139	$296,357	$6,223,496
73	$334,947	$6,558,443	$327,922	$6,230,521	$311,526	$6,542,047
74	$351,694	$6,893,741	$344,687	$6,549,054	$327,453	$6,876,507
75	$369,279	$7,245,786	$362,289	$6,883,497	$344,175	$7,227,672
76	$387,743	$7,615,415	$380,771	$7,234,644	$361,732	$7,596,376
77	$407,130	$8,003,506	$400,175	$7,603,307	$380,167	$7,983,474
78	$427,487	$8,410,961	$420,548	$7,990,413	$399,521	$8,389,934
79	$448,861	$8,838,795	$441,940	$8,396,855	$419,843	$8,816,698
80	$471,304	$9,288,002	$464,400	$8,823,602	$441,180	$9,264,782

At the end of 80 years, an initial $10,000 annual endowment from The Admiral James J. Carey Trust administered in accordance with the required donor restrictions will have grown into a fund valued at $9,264,782 while at the same time also having provided $9,100,967 in operating funds.

81	$494,869	$9,759,651	$487,983	$9,271,669	$463,583	$9,735,252
82	$519,613	$10,254,864	$512,743	$9,742,121	$487,106	$10,229,227
83	$545,594	$10,774,820	$538,741	$10,236,079	$511,804	$10,747,883
84	$572,874	$11,320,756	$566,038	$10,754,719	$537,736	$11,292,455
85	$601,518	$11,893,972	$594,699	$11,299,274	$564,964	$11,864,238
86	$631,594	$12,495,831	$624,792	$11,871,040	$593,552	$12,464,592
87	$663,174	$13,127,765	$656,388	$12,471,377	$623,569	$13,094,946
88	$696,333	$13,791,278	$689,564	$13,101,715	$655,086	$13,756,801
89	$731,150	$14,487,950	$724,398	$13,763,553	$688,178	$14,451,731
90	$767,708	$15,219,438	$760,972	$14,458,467	$722,923	$15,181,390

At the end of 90 years, an initial $10,000 annual endowment from The Admiral James J. Carey Trust administered in accordance with the required donor restrictions will have grown into a fund valued at $15,181,390 while at the same time also having provided $15,257,285 in operating funds.

91	$806,093	$15,987,483	$799,374	$15,188,109	$759,305	$15,947,414
92	$846,398	$16,793,811	$839,691	$15,954,120	$797,706	$16,751,826
93	$888,718	$17,640,543	$882,027	$16,758,516	$837,926	$17,596,442
94	$933,154	$18,529,595	$926,480	$17,603,116	$880,156	$18,483,272
95	$979,812	$19,463,084	$973,154	$18,489,930	$924,497	$19,414,427
96	$1,028,803	$20,443,229	$1,022,161	$19,421,068	$971,053	$20,392,121
97	$1,080,243	$21,472,364	$1,073,618	$20,398,746	$1,019,937	$21,418,683
98	$1,134,255	$22,552,938	$1,127,647	$21,425,292	$1,071,265	$22,496,557
99	$1,190,968	$23,687,524	$1,184,376	$22,503,148	$1,125,157	$23,628,305
100	$1,250,516	$24,878,821	$1,243,941	$23,634,880	$1,181,744	$24,816,624

At the end of 100 years, an initial $10,000 annual endowment from The Admiral James J. Carey Trust administered in accordance with the required donor restrictions will have grown into a fund valued at $24,816,624 while at the same time also having provided $25,329,754 in operating funds.

And so this is the success story of Admiral Carey’s “Hundred Year Vision”. And the equally good news is that his vision is one of perpetuity, and thus so long as these funds continue to be administered in accordance with the Admiral’s required donor restrictions, there is absolutely no reason this endowment and it’s on-going benefit for the endowed organization cannot go on for another hundred years, and then a hundred more years after that, and then again, and again. In fact, IN PERPETUITY.

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