Stephen Van Sickle, Ralph Merkle, Michael R. Seidl, and Brian Wowk of the Alcor Board of Directors answered questions from the audience for the last session of the day. The Board addressed questions about the current state of Alcor finances. Alcor is financially stable, with the following sources of income:
- 1/3 membership dues
- 1/3 bequests and estates
- 1/3 grants and donations
At the current number of members (approximately 800) Alcor cannot support all the efforts it needs to support. Employees must wear many hats to cover all the administrative and technical tasks required. Better fund-raising was a popular suggestion for improvement by Board members.
“Alcor will aways muddle through,” said Van Sickle, stressing that this was both a strength and a weakness.
Maintenance costs are expected to remain stable over the next few decades, but operations costs are generally less stable. With more members, Alcor could see economies of scale, but exactly how does Alcor gain new membership? Rudi Hoffman, a certified estate planner who helps people secure the necessary level of life insurance to cover the Alcor fees, suggested using the Internet and mapping, with their permission, local Alcor members so that prospective members can contact them for more information.
Alcor does not intend to open up voting for choosing directors to the membership (this in response to a member question submitted to the conference emcee Susan Fonseca-Klein.)
Van Sickle briefly discussed a wealth preservation trust that would better protect a member’s estate upon their death. Alcor’s lawyers are trying to develop this type of arrangement, but it may take many years before it becomes available as an option.
A minor few members were relatively emotional about the statement regarding membership voting for directors. Otherwise, it appears (from a show of hands) that most members are happy with the board and how the board continues to choose its own members.