The Grey Eagles Foundation

(Section 4.18 The Grey Eagle Foundation Policy Manual)

1. The Grey Eagle Foundation exists as a separate entity to The Grey Eagles Inc., having its
own Board of Directors who are charged with managing and disbursing the fund in accordance
with its Charter. The Foundation is a non-profit Corporation and has a tax-exempt status. It was
formed to provide financial assistance to American Airlines pilots and to the spouses and/or
children, natural or adopted, of deceased American Airlines pilots. Prospective recipients of the
Foundation funds are screened by the Foundation Coordinator and presented to the Foundation’s
Board of Directors for approval. The financial assistance is to enable the individuals involved to
maintain a reasonable minimum standard of living, consistent with their individual circumstances
or to compensate for an unexpected catastrophe.

2. The Foundation is supported by donations, either directly through American Airlines
Federal Credit Union deductions, and/or Memorial gifts. Checks and Memorial gifts should be
made payable to THE GREY EAGLE FOUNDATION and sent to the Foundation Treasurer
whose address is printed on page three (3), in the front of the Roster. Acknowledgment will be
sent to both the donor and bereaved in the case of a Memorial.

Grey Eagles Foundation
14600 Trinity Boulevard, Suite 500* Fort Worth, TX 76155-2512
817-233-1620
November 17, 2023

Fellow Grey Eagles,

Here is your update on the fall 2023 status of The Grey Eagles Foundation. Once again, I would like to thank all of you who have so generously given us your financial support over the years, and especially over the last few years. Your recent contributions have put us in an acceptable, but slowly deteriorating financial position.

As you know, the purpose of the foundation is to give financial aid to retired AA pilots, commonly called The Pioneers, and their families who did not have the very fine retirement benefits most of us have received. Over the last 41 years, the foundation has given financial aid to dozens of such pilots and their family members.

The foundation is still giving stipends to two widows of retired pilots, and they will likely be the last recipients of our aid. We now give a total of $2000/month or $24,000/year. In mid-2022, the foundation board voted to raise the monthly stipend to each recipient from $900 to $1000 due to the rapid increase in the rate of inflation. Both recipients are in long-term care facilities and their costs have gone up considerably. They need the money. Their average age is 93. Unfortunately, the board has not been able to raise their monthly stipends in 2023 due to less than anticipated donation income. As of September 30, 2023, the foundation had $70,725 of total funds. By the end of 2023 we will have about $65,000, enough to last less than three years. We need to collect about $15,000 in donations annually to ensure the long-term viability of the foundation until the need is no longer there. In 2022 you contributed $22,900. But, so far in 2023, only $1,725 has been contributed. I am asking each of you who contributed to the foundation in 2022, to contribute the same amount this year. Inflation will continue, and the foundation board would like to give the two recipients another increase in their stipends in early 2024.

Credit card contributions can no longer be made. To contribute, send a check directly to the foundation. Make your check out to The Grey Eagles Foundation and send it to:

The Grey Eagles Foundation
14600 Trinity Boulevard – Suite 500
Ft. Worth, TX 76155-2512

You may also send your check to:

The Grey Eagles Foundation
C/O Steven Fryer – Treasurer
4300 Briar Ridge Dr.
Colleyville, TX 76034-3873                                                                                                        

All contributions are tax deductible, and you will receive a special IRS receipt on contributions of $250 or more. A donation of any amount is greatly appreciated. I thank you in advance for your contributions and continued support.

For The Grey Eagles Foundation Board of Directors,

Captain Steven Fryer, Retired
Secretary/Treasurer
The Grey Eagle Foundation