The John B. Derick

TAM Endowment Fund

We are celebrating 30 years of the Trail Around Middlebury!

We’re almost there! MALT is securing the future of the TAM by establishing an endowment fund. We’ve already raised $100,000 towards our $125,000 goal and you can help us preserve this fantastic resource for Middlebury, VT by contributing today.

You can download and print this form and mail your pledge to us today.

TAM 25th Anniversary Series in the Addy Indy. Click here for more information.

ABOUT THE TAM:

In November of 2013 a new MALT Committee was formed with the charge of raising funds for a TAM endowment knowing that in less than a year, in September 2014, there would be a celebration of the 25th anniversary of the trail at the TAM Trek event. After a few meetings and some outreach it was decided that a goal to garner $125,000 over two years was needed such that the interest of 3 to 4% on that principal would generate between $3,750 and $5,000 annually.

For a quarter of a century John Derick, the TAM coordinator, has been the one constant driving force behind the trail from its early development to its ongoing maintenance and improvement. It was only appropriate that the endowment fund be named in his honor in recognition of his long-standing dedication. Thus, as an acknowledgement of John’s selfless service and that of the many volunteers, landowners, past executive directors and all those who have helped to make the trail what is has become today, we have formally established the The John Derick TAM Endowment Fund for the Future of the Trail Around Middlebury to help provide for the ongoing maintenance and improvements on the trail. Inspired by his contributions and to ensure a quality hiking experience, MALT has established this Fund with the following provisos:

This fund is entirely dedicated to the care and longevity of the TAM.

1. The intent of this Fund is to invest the principal to generate interest. This interest from the fund may be used each year to help pay for annual maintenance and improvement costs for the TAM.

2. MALT’s Board of Directors shall oversee the Fund’s investment with the Vermont Community Foundation or some other reliable investment or management entity, and shall authorize expenditures from the Fund’s interest.

3. Only in exceptional circumstances of need for purposes related to the TAM may the Board authorize a withdrawal out of the Fund’s principal. Any funds used in this manner must be repaid according to a reasonable schedule to be determined by the board. Major capital improvements should not be considered as “exceptional circumstances” and, therefore, such projects would have a separate fundraising campaign.

Annual cost for the TAM runs approximately $18,000 and John has volunteered his time and materials virtually free of charge though eventually that in-kind support will become a reoccurring expense and therefore the endowment fund will be essential to cover that gap. This fully funded endowment would not only supplement that added annual cost for the TAM, it will also ensure the trail’s future viability and enjoyment for generations to come.

Thanks you so much for visiting this page and for your consideration of a generous gift to help realize this ambitious undertaking to provide for vibrant and enduring Trail Around Middlebury. It will certainly be a gift that keeps on giving.