Records of the fund are maintained in several locations. Fund headquarters currently reside in Education 507. Two desk drawers are dedicated to fund records. Each find is recorded by date, finders name, general location of the find, the amount and a running total is noted. The record is kept for a month, then sent to Carol Yenni Wilson for safekeeping. At the end of each month, the totals are recorded in an 18-year calendar and a huge found ledger provided by Lee and Arlene Woodbury of Littleton, Colorado; both are alumni of the University. After $25 - $30 has been collected, the cash is taken to gift receipting and processed appropriately as a gift to the University for the FMFI for academic excellence.
During summer semester, 1995, the fund was designated it’s own entity not associated with academic excellence. Anecdotal files, articles about the fund, and news clippings are kept by Ms. Wilson. At present, the collection of news clippings is quite large. Another impressive collection is a miscellany of coin look-alikes, toilet tokens, arcade tokens, and adult video machine tokens. This repository resides in a large decorative jar on my desk. The contents are for sale but represent valuable addenda to the collection.
A few old wheat pennies are kept in the fund headquarters, along with some old $2.00 bills given to the fund by former UI history professor Dr. Fred Winkler. This collection given to the fund in a turn-of-the-century physicians satchel, includes:
- 2.00 bill found on campus in the 1950s by Prof. Mabel Locke (now with C. Wilson).
- $1.51 in miscellaneous old Canadian/U.S. silver.
- $9.00 Dr. Winkler bills (4@$2.00/1@$1.00).
- $ .83 Dr. Winkler wheat pennies.
In addition, some found coins were placed in the 50-100 year celebratory time capsules. These include in the 50-year capsule $15.00 in silver Roosevelt dimes. It is expected that these be sold at an auction in 2039 to keep the fund going. Additionally, in the 100-year capsule will be found eight silver dollars, $1.00 given by Mrs. Lambert Ericksen in memory of her father, three Liberty nickels and 19 Indian head pennies. There is also a $ .50 commemorative coin from the Columbian Exposition in 1892.
Administering the Fund Post 2089
As this is written, there remain 88 years before the investment returns of the fund can be realized. To provide for the orderly, fair dispersal of the investment income it is proposed that the following be ordered:
- A committee known as the (“High-Low” Committee) be constituted for the purpose of the yearly distribution of fund interest (capital gains shall be added along with “finds” to the principal).
- The High-Low Committee shall consist of the following members:
- The oldest and youngest registered students.
- The oldest and youngest officer of the University with rank of academic dean.
- The chief student affairs officer.
- The tallest and shortest student majoring in life science (broadly defined).
- A relative or heir of Carol Yenni Wilson and/or Terry Armstrong.
- A member of the Alumni Association Board of Directors.
- A member of the UI Foundation Board.
- The High-Low Committee will hear requests for fund support in the form of a single 8½ x 11 page proposal that utilizes the following outline:
- Overview of the request.
- Statement of need.
- Justification of request.
- Evaluation of request results.
- Budget narrative.
- The High-Low Committee will entertain proposals (from any University employee, agency or duly constituted student group). Priority should be given to requests that establish or contribute to new or existing trust accounts.
- Twenty points shall be awarded each criterion on the budget outline. Ten points may be awarded additionally for meritorious requests that relate to the priority note in #4.
- Proposals will be judged on the concept of “does this proposal significantly advance the image of the University?”
- The High-Low Committee will conduct its business during the first week in October. Proposals will be solicited from the office administering the investment funds.