North American Sponsorship Program
November 1989 Report
ELAN VITAL P.0. BOX 6130 MALIBU, CA 90264
November 7, 1989
As we approach the start of both a new year and a new decade, it is amazing to realize that never before has Maharaji traveled so much and spoken to so many people in so many places over such a short period of time. During the 3 months following the Festival of Knowledge, Maharaji has conducted over 24 separate events in 16 countries on 6 continents. And still to come before year end are 2 major international events: a 3-day program November 7 - 9 outside of New Delhi, India: and another 3-day Festival of Knowledge, this time in Brussels, Belgium on December 8 - 10.
Maharaji's increasingly extensive travels have bean made possible in large part by the acquisition of a Lear 55 jet. Three years ago, a worldwide effort was initiated to purchase such a plane, and within several months, in March of 1987, the generosity of thousands of individuals from ail over the globe had combined to raise enough money to make the down payment. The balance due on the plane ($2.5 million) was financed with a bank loan, secured in part by Maharaji's Malibu residence. Each month since then, a significant portion of the total amount contributed by sponsors from fifty different countries has gone to reduce that debt.
This coming March, a balloon payment on the Lear loan will be due, meaning that the balance owed (approximately $1.4 million) will either need to be paid in full or refinanced for several more years. Although it would probably be possible to refinance the loan because of the excellent payment record, many people from around the world who have been supporting the project are hoping that we could retire the debt completely. This would have two major advantages. First, it would eliminate the enormous interest payment (approximately $150,000 per year-over $500,000 to date) and could thus free up funds for other important projects. Further, it would eliminate the risk that the loan places on Maharaji's U.S, residence. A resolve to repay the loan was therefore made last December at the International Organizers' Conference in New Delhi, attended by Maharaji.
Obviously everyone's help is needed to make this project successful. Enclosed you will find a card providing for initial contributions by December 5, with additional amounts to be pledged for payment by February 21. Many contributors played a significant role in the original acquisition of this aircraft, while many more have since joined in supporting its ongoing operation. It is hoped that still more will join in a global effort finally to gain outright title to the aircraft. Gifts both large and small are welcome and necessary (contributions toward the Lear down payment ranged from $5 to $50,000).
To continue the operations of the aircraft and the ongoing expenses of Maharaji's work, the Sponsorship Program in 1990 will be more Important than ever, since revenues from events such as the Festival of Knowledge and Rejoice will most likely no longer be available to supplement sponsors' regular contributions, but will instead go towards reducing registration fees. The current level of sponsors' support averages about 35% less than the monthly need. Since repaying the Lear loan will only reduce the budget by about 10%, closing that gap will be a major priority in the new year. We are therefore asking that sponsors consider their contributions towards the Lear purchase to be above and beyond pledges already made through the Sponsorship Program.
Given the number of people providing regular financial support in the U.S., an average gift of $200 per person contributed sometime during the next four months would allow the U,S. to more than meet its share of the worldwide pledge. As you will see from the following sample Chart of Gifts, though, donations in the range of $500, $1,000, $5,000, $10,000 and over will also be needed since not everyone will be able to send $200.
CHART OF GIFTS - EXAMPLE
1 donor x $50,000 = $50,000
2 donors x $25,000 = $50,000
5 donorsx $10,000=$50,000
10 donors x $5,000 = $50,000
20 donors x $2,500 = $50,000
50 donors x $1,000 = $50,000
150 donors x $500 = $75,000
250 donors x $200 = $50,000
500 donors x $100 = $50,000
500 donors x $50 = $25,000
Checks can be made payable to Elan Vital and are tax-deductible as provided by law.
Many cities will be holding meetings in the near future at which time more information about this project will be available. Please refer to your local calendars or schedules for details. In the meantime, any questions may be directed to your community organizer, or write: "Plane Project," c/o ElanVital, P.O. Box 6130, Malibu, CA90264. With many thanks for your support,
Ted Riskin, New York City
Jim Candelet, Boston
Jane McCuire, Miami
Randy Waterhous, Cincinnati
David Mankoff, Denver
Sharon Stokke, San Francisco
Tony Stampfer, Los Angeles