from: G
to: boris@insiderlouisville.com
date: Wed, Jul 27, 2016 at 2:05 PM
subject: Say Yes to Education
Please call
g
From: Boris <boris@insiderlouisville.com>
to: G
date: Thu, Jul 28, 2016 at 11:38 AM
subject: Re: Say Yes to Education
signed-by: insiderlouisville-com.20150623.gappssmtp.com
George,
nice talking to you.
I’m definitely interested in getting more information and making some calls to communities that have received support from Say Yes.
I’d appreciate your help.
Thanks.
Boris.
Boris Ladwig
Staff Writer
Insider Louisville
812-764-2852
to: Boris <boris@insiderlouisville.com>
date: Thu, Jul 28, 2016 at 12:21 PM
subject: Re: Say Yes to Education
What's amazing is none of the questions have been answered, and we have received no direct push back from Say Yes
Not a cease and desist or threat of legal action.
Call with questions.
g
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.
http://greensboroperformingarts.blogspot.com/2016/06/say-yes-to-educations-amazing-quite.html
http://greensboroperformingarts.blogspot.com/2016/07/ponzi-needs-new-town-jul-25-2016-459-am.html
http://greensboroperformingarts.blogspot.com/2016/07/if-say-yes-guilford-has-35-million.html
How is Say Yes supposed to give both Guilford County and Louisville $15 million?
Why has Say Yes declined to provide their 2014 IRS form 990?
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.
"...The foundation said that with its support, more than 5,000 students have gone to college."
At what cost?
What was the average payout per student?
What were the operating costs?
What was the endowment charged?
Why is most of Say Yes' money in the Caribbean and South America?
Why did the Hartford Chapter of Say Yes close in June 2005?
Why did the Philadelphia Chapter close in 2000?
Why did the Cambridge, MA Chapter close in 2008?
What happened to the New York, NY Chapter which opened in 2004?
How much money would it take to pay for every Guilford County High School graduate who was promised "a free college education"?
What is the anticipated average per student scholarship expected to be for Guilford County's 2016, 2017, 2018 and 2019's graduating classes?
How much money does Say Yes Guilford have on hand to fund the scholarships?
As the number of dollars provided for scholarships should about double again after the first year, and then double again in four years, how is Say Yes going to pay for it?
What is Say Yes Guilford's estimated annual payroll?
What percentage of the total amount raised will be directly given to students each year?
What are Say Yes Guilford's expected yearly fundraising costs?
Should Say Yes Guilford be considered a fiduciary for Guilford County students?
How much has Say Yes Guilford actually raised to date, as opposed to the total pledged?
How much is Say Yes Guilford is going to let Greensboro and High Point's Community Foundations charge to manage monies destined to be distributed to scholarship recipients?
What is Say Yes Guilford going to allow Greensboro and High Point's Community Foundations to invest the money in?
What is the money invested in now?
I believe I have uncovered a serious discrepancy between the monies Say Yes to Education declares it made as investment returns filed with the IRS and George Weiss' publicly available fund performance.
The 990 says all the monies are located in the Caribbean and South America, which also appears to be very problematic.
These are serious problems no one wants to address because it sounds so good, which is why the following questions need answered for Syracuse and Guilford County, North Carolina;
Why did the Hartford Chapter of Say Yes close in June 2005?
Why did the Philadelphia Chapter close in 2000?
Why did the Cambridge, MA Chapter close in 2008?
What happened to the New York, NY Chapter which opened in 2004?
How many students will the "Full Tuition Scholarship Incentive" cover for 2016's graduating class,
and what is the expected pay out by Say Yes Guilford [over the next ten years]?
How much will Say Yes Guilford need to raise and make on the endowment each year
to remain sustainable?
Why has Say Yes, the City of Greensboro and Guilford County Schools
so far declined to provide all documentation and communications
concerning the investment management fees for the endowment?
Why has Say Yes, the City of Greensboro and Guilford County Schools
so far declined to state if Say Yes Guilford is to be considered a fiduciary over the investment assets?
Why has Say Yes, the City of Greensboro and Guilford County Schools
so far declined to report if the investment managers will be considered fiduciaries?
If Total Assets ended st $37,312,562 at the end of 2012,
and Investment Income for 2012 was $10,318,728,
and $37,312,562 - $10,318,728 = $26,993,834,
Say Yes to Education made about 38% on investments in 2012,
without considering when the $9,106,701 of Contributions came in.
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.
In 2012, "The S&P 500 gained 13.4%, marking the benchmark U.S. index's largest annual return since 2009 and fourth-largest return in the last decade.
The Nasdaq Composite Index was up nearly 16%.
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.
If Total Assets ended st $49,116,492 at the end of 2012,
and Investment Income for 2013 was $16,752,747
and $49,116,492 - $16,752,747 = $32,363,745
Say Yes to Education made about 52% on investments in 2013,
without considering when the $7,627,023 of Contributions came in.
In 2013; "Tallying its fourth monthly advance,
and up 29.6 percent for the year,
the S&P 500 also advanced to an all-time finish
The Nasdaq rose 22.39 points, or 0.5 percent, to 4,176.59,
a yearly advance of 38.2 percent, and its best year since 2009."
.
.
George Weiss, whose Say Yes to Education funds are located down south, beat the markets by more than most for two consecutive years without any fanfare.
If Total Assets ended st $50,968,043 at the end of 2014,
and Investment Income for 2014 was $14,556,976
and $50,968,043 - $14,556,976 = $36,411,067
George Weiss' Say Yes to Education Foundation made about 40% on investments in 2014,
without considering when the $3,049,095 Contribution came in.
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.
From 01/01/2014 Open to 12/31/2014 Close
the S&P 500 Total Annual Return was 14.04%
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.
George Weiss outperformed the stock market by about 25%.
The likelihood of George Weiss outperforming by wide margins
for three straight years without any acknowledgement from the financial press
is mysterious at best, and very problematic at worst
Let's not forget where the money is supposedly located
Weiss Multi-Strategy Advisers LLC, formerly George Weiss Associates Inc, is a multi-strategy hedge fund manager that was founded in 1978 by George Weiss
.
.
Something is very wrong
Weiss Multi-Strategy Advisers LLC fund November 2013 to 2014 total return = 13.5%
The 5 Year Return = 47.29% / 5 = 9.458% per year,
which is nowhere near what Say Yes is claiming in the IRS filings
