Please scroll down to see:

• 501 c 3 Charitable Organization
• Class Funds
• Off-Campus Reunions
• Governance
• Reunion Planning

 
501 c 3 Charitable Organization
 
When did the Class first think about forming a 501 c 3?
 
The earliest rationale for a charitable organization status was a 2011 earthquake in Nepal that affected our Classmate Roop Jyoti.  Stan Mark led an effort to see if Classmates wanted to make contributions to help people in dire need.  There was an outpouring of interest but because the Class was not a charitable organization it could not provide any tax benefit for donations.  There was also concern whether donations to Nepal would be diverted.  But these efforts for Nepal did prove the need for a mechanism for Classmates to make group donations to charitable causes.
 
How does the Class benefit from a 501 c 3?
 
The MBA Class of 1963 formed Partners of ’63, a 501 c 3, to help channel donations from Classmates who wanted to support promising initiatives in education especially those addressing underserved populations and needs.  MBA’s from 1963 wrote large checks that provided them tax breaks and these were deposited in a charity that operated as a socially based venture capital firm.  Ralph James, Executive Director, HBS External Relations at the time asked members of the MBA Class of 1976 to evaluate assuming management of Partners’ of ’63 and/or starting a similar charity.  A substantial number of Classmates were involved in these evaluations and there appeared to be a good consensus to proceed with a 501 c 3 organization.
 
Stan Mark’s undergraduate Harvard class formed a charity ClassAct that also collects classmate contributions for making gifts to well deserving social initiatives.  During the economic carnage of the Covid-19 pandemic there were a distressing number of charitable organizations and academic institutions fighting for survival.  It is possible that crowd funding within the Class to help Classmates involved in struggling charities might find support.  Again, this requires a 501 c 3 corporate structure.
 
The recent Naples Florida Reunion entailed contracts requiring some form of corporate organization and EIN Employer Identification Numbers.  Most contracting parties do not want to work with unincorporated reunion associations that frequently appear to lack discipline, organization and professionalism.
 
When the Class collects funds for charitable purposes will this jeopardize the funds held for off-campus and on-campus reunions?
 
No.  There will be a Chinese wall between these two efforts and rigorous accounting reports to the Class to prove the separation of funds.
 
Do other classes have corporate structures?
 
Yes, there are multiple classes with a charitable status.  External Relations assisted the Class of 1976 in identifying these classes and several of these class’s officers were extremely helpful.
 
Why was the 501 c 3 created in 2016?
 
External Relations initiated a policy during the Class’s 40^th on-campus reunion that said any surplus funds from a reunion for an alumni class that is unincorporated has to stay at HBS under their control until five years later when the next on-campus reunion is held.  The Class argued that reunion funds should be used for both on-campus and off-campus reunions and furthermore the funds were alumni assets.  External Relations took the position they will not permit these funds to be used for off-campus reunions during non-reunion years.  The Class had approximately $22K of surplus funds from the 30^th and 35^th Reunions that it owned and needed to keep separate to facilitate the working capital needed for off-campus reunions like Napa, Naples, et al.  If the Class had not setup the 501 c 3 it would have lost control over its own money that it earned before the 40^th Reunion.  Starting at the Class's 45th Reunion External Relations now controls all contracting and pricing.  A portion of on-campus registration fees now represent a charitable contribution to HBS because they are setting the registration fee to make money.
 
How was the 501 c 3 started?
 
During an early 2016 meeting of the Social Reunion Committee a filing for a 501 c 3 was approved and four of the Classmates attending agreed to become officers and directors.  The change to a corporate structure needed to be accomplished before the Class was to receive any funds since it was important to avoid reporting partial years for two different entities.
 
Did External Relations know about the 501 c 3 filing during 2016?
 
Besides connecting the Class with the other classes who have a corporate structure, the filings submitted to the Internal Revenue Service and Massachusetts were shared with External Relations as they were submitted.  The IRS letter approving the Class’s charitable status was sent to Teele Hall as soon as it arrived.
 
In what state is the 501 c 3 incorporated and domiciled?
 
Massachusetts was chosen to minimize issues between different state statutes.  Selecting Harvard University’s home state was presumed to minimize legal and tax issues between the Class and HBS.
 

 
Class Funds
 
How much money does the Class have in its 501 c 3?
 
The cash balance as of 31 May 2020 was $38,511.28.
 
Who owns the money alumni send in registering for off-campus and on-campus reunions?
 
The FUN Committee thinks Classmates own and should control any surplus funds from reunion events.  External Relations, effective with the 45th Reunion, now claim all registration fees are their property.
 
Is the amount of money the Class holds appropriate?
 
The upfront costs for the Napa Reunion were approximately $30K and total expenditures for the Naples Florida Reunion were close to $15K.  During the 40^th Reunion the Class directly paid $22K of expenses, its entire starting balance, and saw its checking balance get as low as $3K.  The Class needs working capital in advance for off-campus reunions.  During the period 2006 to 2020 the Class has never incurred a loss but had the Naples Reunion been scheduled one weekend later it is possible Classmates and/or the Class Treasury could have sustained a loss as high as $13K.  The Class needs a significant balance to cover upfront event costs and the possibility of incurring losses from unforeseen events.
 
How much money does the Class spend each year?
 
There is substantial variability of expense levels based on the volume of events for the Class.
 
Are there financial statements available?
 
Please see the 501 c 3 section of this Class website.  A balance sheet dated 31 May 2020 is presented along with footnotes.  An aggregate cash flow statement from January 2016 to May 2020 is included as well as annual statements for 2016, 2017, 2018, 2019 and year-to-date for 2020.  The cash flow statement for the Naples reunion is also provided to show specific off-campus reunion details.
 
Are the Class financial statements audited?
 
No.  QuickBooks reports can answer most questions that are raised.  The cash flow through the bank statements is quite simple.  The most relevant assessment is the funds flows for each major reunion.  There is a report of the Naples financials in the 501 c 3 section of this website.
 
How transparent is reporting of class funds for most reunion classes?
 
Other than the reunion planning group no one generally sees this information nor cares to see it.  During the 30th, 35th and 40th Reunions there were no requests by Classmates for this data.  There is no standard reporting format provided by External Relations.  This Class website is providing an unprecedented level of detail and disclosure that to our knowledge no other class has ever done.
 
Off-Campus Reunions
 
How many off-campus reunions has the Class had?
 
One of the amazing things about the Spirit of ’76 is how many Classmates have been involved.  The Women Alumnae have organized parties that have maintained and deepened their connection with one another.  Section G has organized multiple section-only parties domestically and internationally.  Fred Eustis has been leading a Section H golf outing for over a decade.  The FUN Committee has focused on class wide events like Napa, NYC, NYC Lower Manhattan, Naples Florida, Bordeaux France, etc.  In the past 45 years External Relations has organized 9 unique events for the MBA Class of 1976.  Classmate initiated off-campus reunions exceed 40, a five-fold difference.
 
How many off-campus reunions are held by other HBS MBA Classes?
 
External Relations is the best source for this information but many classes do not have the sustained energy to do what the MBA Class of 1976 has achieved.  Off-campus reunions require extensive effort by teams of Classmates and this generally does not exist.  External Relations’ policy that Classmates registration money now belongs to HBS means no Class has working capital available for funding off campus reunions.  Without a corporate structure, many class reunion activities are dismissed by hotels, event venues, caterers, bus companies etc. as disorganized and unreliable.  Off-campus reunions require working capital to cover upfront contractual commitments.
 
What is External Relations’ position on off-campus reunions?
 
External Relations is the best source for this information but during the 40^th Reunion on-campus there were clear statements that class specific reunions occur every five years and only on the HBS campus.
 
Who organizes off-campus reunions?
 
Anyone in the Class who is motivated!  The FUN Committee has developed a template that involves a feet on the ground team of 3-5 Classmates who take ownership for an event through an organizing committee.  The Naples Reunion was led by Roger Harris, Tom Rogan, Leo Au, Mario Mahler and Gustav Christensen who all have homes around Naples.  But all the Section Correspondents, prior reunion leaders and many other members of the Class also pitched in to help make this event a success.  The Planning Group for the HBS 1976 NOLA Party has included over 20 Classmates.
 
Who decides the off-campus reunion itineraries and events?
 
The Naples Reunion is a great example of collegiality and collaboration in deciding a first-ever event in Naples.  The initial registration fee planning was at $850, it was then reduced to $150.  The original plan followed the Napa template but everything was then essentially shifted to a la carte choices.  A very expensive sunset sail and dinner on a yacht was transformed to a sail on a catamaran and informal dinners at six great Naples restaurants.  There were important differences of opinion that were worked through to get to a much better collective outcome.
 
Who decides what off-campus reunions are held?
 
The FUN Committee holds listening sessions to solicit ideas from Classmates.  Some great ideas are generated but the focus is on developing those where there appears to be the most enthusiasm from a large number of folks.  Increasingly the FUN Committee is attempting to identify locations where a 3-hour drive time radius can cover 50-100 Classmates; the HBS Directory indicated 43 Classmates with property in Florida.
 
Governance
 
Who manages what the Class does?
 
The fund committee reports to External Relation and follows their lead.  The FUN Committee reports to Classmates and handles everything except fund raising.  The FUN Committee comprises many who have been working together for over 40 years.  A board of directors is required by the IRS and Massachusetts for the 501 c 3.
 
What are the respective roles between the fund committee and FUN Committee?
 
Since the announcement of the FUN Committee in late 2019, and with all Class communications since 2020, there has been a consistent and clear message that there are two distinctly different groups.  There was even some fun poked at the fund committee with the logo for the FUN Committee.
 
Harvard University has a century long tradition of keeping fund raising entirely separate from social committees planning reunion events.  The FUN Committee will continue to follow Harvard’s strict Church & State separation.  The fund committee has an important assignment from External Relations.  The FUN Committee has an important focus serving the Class.
 
What is the role of the 501 c 3 Board and the FUN Committee?
 
The Board of Directors of the HBS MBA Class of 1976 Inc. elects new directors, officers and the Co-Chairs of the FUN Committee.  The operations of the 501 c 3 have to comply with legal and tax reporting requirements but the predominant activity is done through the FUN Committee.
 
Who are the officers and board members of the 501 c 3?
 
President  & Treasurer Terry Kungel
Secretary Roger Harris
Board Member Laure Aubuchon
Board Member Jim McGee
Board Member Cory Gardiner
 
Why do board members have a five year term?
 
Many classes are organized primarily around five year reunions.  At each reunion decisions need to be made about who will lead the next event.  There is also an argument that continuity is important to maintain between reunions so annual changes of officers and directors would likely be counterproductive.
 
Who is managing the FUN Committee?
 
The Co-Chairs of the FUN Committee are Laure Aubuchon and Terry Kungel.  They work with an amazing group of Classmates who have been creating and contributing to the Spirit of ’76 for over 40 years: Fay Hannon, Roger Harris, Pete Bricker, Darice Grippo Wareham, Oliver Cromwell, Alec Garbini, Patty Frolin, Doug Bennett, Cathy James Paglia, David Frost, Marshall Toplansky, Leo Au, Debby Farrington, Scott Cook, Chris Rodriquez, Fred Eustis, Kristin Zimmermann, Ira Neaman, Barbara Keck, John Lilly, Stan Mark, Michael Zimmerman, Chris Webb Letts, Dale Garth, Kirk Henckels, Doug Rosen, Tom Ostrander, Dan Scinto, Della Oliver Leathers, Bernard Lirola, Dorothy Swithenbank, Randy Piechocki, Paul Steinle, Chris Crane, Terry Plochman, Art Buckland, Bjorn Saven, John Day, Sharyar Aziz, Naomi Glass, Guy de Chazal, and Buford Alexander.  This is a representative list, certainly not an exhaustive one, of so many who have been involved in previous efforts to reconnect Classmates.  The Naples Reunion would not have been possible without Roger Harris, Tom Rogan, Leo Au, Mario Mahler and Gustav Christensen.  If you would like to get involved in off-campus reunions please click on the Contact Us tab and send us a note, we would love to hear from you.

How transparent is governance for most reunion classes?
 
The first time many alums know anything about the reunion committee is when they arrive on campus and see a listing of the volunteers.  The other means is through volunteer communications soliciting attendance.  There is no standard reporting format provided by External Relations.  This Class website is providing an unprecedented level of detail and disclosure that to our knowledge no other class has ever done.
 
Reunion Planning
 
Who decides on-campus registration fees?
 
The registration fee is generally actively debated within the planning committee with some Classmates desiring something extra special and others more focused on something simpler and at a lower price point.  During the 30^th, 35^th and 40^th reunions the registration fee was reached by group consensus.  Since the 45th Reunion Classes have little to no say about the registration fee.  These are dictated by External Relations.
 
How are on-campus registration fees set?
 
When the Class is staying at the Charles Hotel, sponsoring some Friday Night Section Parties in the Harvard Faculty Club and hosting the Saturday Night Gala at the Harvard Club on Commonwealth Avenue, costs are high.  The goal of all FUN Committee events is solely to break even, there is no intent to generate a substantial surplus at any event.  External Relations now decides and communicate what registration fees will be for on-campus reunions.
 
How important are registration fees?
 
Those traveling to Boston from long distances have airline and lodging costs that are substantial and these are more like to determine whether price conscience Classmates will attend. 
 
Is the FUN Committee using on-campus registration fees to fund off-campus reunion events?
 
No, each reunion, on-campus or off-campus, is simply designed to break-even.  The FUN Committee has never tried to maximize income or minimize costs to achieve a big surplus.  What’s the point of excessive registration fees that may reduce attendance?  What’s the point of generating more surplus if the Class has adequate working capital?  No off-campus reunion has ever been planned to lose money and so far none have.
 
The surplus percent in the financials suggest the registration fees may have been set too high, is that a correct interpretation?
 
The surplus percent for the 40^th Reunion is overstated because of multiple party management.  HBS received all the 40^th Reunion registration fees and paid only a portion of the reunion costs out of these fees.  The Class directly paid $22K of 40^th Reunion expenses.  The Class received a check from HBS that repaid the $22K that was it's opening balance.  There was a disagreement about what funds should have been remitted to the Class after the 40th Reunion.  There is not an adequate matching of income and costs based solely on the Class’s financial statements.  Please look at the Naples Florida report in the 501 c 3 section of this website that shows a complete picture of income and expense and essentially a break-even operation.  The goal for reunion events.
 
Who decides the venues for on-campus reunions?
 
External Relations handles everything with HBS and Harvard affiliated institutions.  The Class worked with External Relations for the 40^th  and 45th Reunions reserving the Harvard Faculty Club, the Harvard Club on Commonwealth Avenue, and the chapel for the memorial service.  All of the venues not under the management of External Relations are handled directly by the FUN Committee and the Section Party Hosts.
 
Who decides the itinerary for on-campus reunions?
 
External Relations handles everything that is repeated at every reunion.  The FUN Committee has organized an early Women’s only reception before the normal Thursday night start.  The FUN Committee organized an art show at one reunion and invited every Classmate who wrote a book to do book signings at another reunion.  The FUN Committee continues to offer events to refresh and renew the on-campus reunion experience.