Subject: $1M management proposal
From: "Skip Lockwood" <[email-masked]>
To: "Mr. Hunter Biden" <[email-masked]>, "Dr. Thomas Moody" <[email-masked]>, "Mr. Tom Quinn" <[email-masked]>, "Mr. Jonathan Schwartz" <[email-masked]>
Cc: "Jamie Bearse" <[email-masked]>, "Kevin Johnson" <[email-masked]>, "Betsy London" <[email-masked]>, "Kathy Costigan" <[email-masked]>
Date: Tue, 19 Apr 2011 16:21:30 -0400

Members of the Finance Committee and Mr. Chairman,

Attached to this email is a proposal from J.P. Morgan about how best to
handle the $1 Million anonymous gift for the greatest long-term benefit.
You will recall that several weeks ago I sent around a document detailing
the proposed usage of the money for various expense needs.  (I have attached
it again for your reference)  The proposal from J.P. Morgan would modify
some of those expenses.  Rather than spending the money directly we would
make use of a substantial credit line at a minimum interest rate to preserve
the bulk of the dollars over time.  For instance, we would use the credit
line to purchase a new DRIVE vehicle and pay the line down over time rather
than making a lump sum payment of $300K.  The proposal would also allow us
to have a more substantial reserve that the organization would use to
produce additional revenue.  Please have a look at this document.  Chris
Mason, our representative from J.P. Morgan would be happy to make a
presentation to the committee via teleconference.  He is also available to
make a presentation to the full Board at the June Board meeting.

Jamie and I have met with Suntrust, Bank of America, and Cardinal bank and
J.P. Morgan has the best offer by far.  I welcome your feedback on this
issue.  We will need a recommendation from the Finance Committee as well as
the approval of the Board to move forward on this issue.

Call or email if you have questions.

--Skip

-- 
Skip Lockwood
President and CEO
ZERO -- The Project to End Prostate Cancer
10 G St., NE
Suite 601
Washington, DC 20002
202-463-9455 (main)
202-463-9456 (fax)

Virginia Office:
515 King St.
Suite 420
Alexandria, VA 22304

www.zerocancer.org
Twitter:  www.twitter.com/digitalskip
Facebook:  ZERO — The Project to End Prostate Cancer
Combined Federal Campaign #12161
______________________________________