The Delancey Foundation Trust, is a dedicated fund invested with the purpose of providing continuing income to support the charitable work of the DeLancey Foundation for the Preservation of Music and the Arts. It is handled in a pooled fashion by the funds management group founded originally to provide this service specifically for this fund, the DFIG.
The DeLancey Foundation is a non-profit organization established by the estate of the reclusive Nancine Abigail Delancey, a musician, and songwriter active in the late 1960s. The control of the Delancey Foundation is via a Board of Trustees, who prefer to remain anonymous.
The DeLancey Foundation is represented by the Eruditus Group Attorneys at Law. The foundation is independently funded by the DeLancey Foundation Investments Group. Official corporate offices located at DFIG Titan.
History of the Trust
1996-
The initial formation of the Delancey Foundation Trust was as an estate settlement account generated from a life insurance policy issued via Mutual of Omaha in the amount of $500,000.00 USD. Additional pledges and donations were given as a result of the public Memorial for the artist Ann Gale, real name Nancy DeLancey, swelled the total of the estate to 4.11 million USD. As the last will, and the effects of the deceased did not enable proper identification of the next of kin, stated wishes for the funds were put into effect. The legal entity DeLancey Foundation for the Preservation of Music and the Arts was created as the estate's sole beneficiary, with the proviso that if the brother, or a blood descendant Ms. DeLancey or her brother could be found, the funds of the initial payment and interest would revert to their ownership. The DFIG was created October 22nd, 1997 with the purpose of maintaining the estate against inflation.
The manager of the Trust was initially Nicholas Erris ESQ., attorney at law. The DeLancey Scholarship was established and provided for students seeking education in pursuit of musical degree programs, as well as leftover funds to be donated to city public school music programs. The total scholarship funds released in the first five years was $205,500 USD. This was calculated as a sustainable scholarship based upon reasonable return of investment, inflation and operating expenses.
2000-
The four-year investment returns far outstripped anyone's imagination, due to a boom in the stock market. Combined with royalty payments and donations, the Delancey Foundation Trust had swelled to a value exceeding 50 times the initial declaration at its creation. As a result, projected scholarship endowments were raised and a yearly dispensation of $302,500 USD yearly instead of the initial $205,500 USD projected in the five-year plan, with a yearly budgetary evaluation planned.
With the size of the Trust now grown so significantly, a different investment strategy was adopted, with diversification into real estate and mineral rights being the primary holdings moving forward.
2002-
The firm of 'Erris & James Attorneys at Law' became the manager-of-record for the DFIG and Delancey Foundation Trust. Further, scholarship endowments were once again lowered reflecting the severe deflation of the stock market. $98,000 a year was earmarked for dispensations of the DeLancey Scholarship.
2006-
The firm of Erris, James & Ford, Attorneys at Law register in the city of Philadelphia 2006 and operating at 2002 Delancey Place, became the 'manager of record' for the DFIG and Delancey Foundation Trust.
The Trust continued to see growth, with a better than the average return on investments over the previous five-year period. Not including the additional donations and royalties, the DFIG value continued to grow for 25 years, averaging a financial return on the investment of 8-10%, allowing for continued stability and expansion of the risk capital as well as repaying speculation.
With additional capital from the Delancey Foundation Trust, the DFIG was able to pay off business loans significantly early, resulting in more liquidity to reinvest into more capital and real estate.
This growth rate continued to improve for twenty-five years under the steady hand of the firm of Erris, James & Ford, earning their name and commission. The DeLancey Scholarship fund quickly began to see more endowment than available students. A decision was made to expand into preservation efforts.
Donations to the effort increased with the introduction of preservation efforts. Royalty assignments continued to be willed to the Foundation by the estates of artists claiming to have been friends of, or influenced by Ann Gale, or merely wishing for their legacy to be linked with the work of the Foundation.
2031-
As of 2031, the estimated value of investments managed by the DFIG was in excess of $1.0 billion USD. The DeLancey Scholarship Fund itself was holding a liquid $224,997,481.90 USD, with a dispensation of nearly 1.2 million USD annually from bank interest alone. Unfortunately, the actual scholarship dispensation record did not survive for the period of 2032-2053.
Also as of 2031, the DFIG was firmly ensconced as one of six primary investors in the Lunar and asteroid colony movement, with investment in the Luna 13, Orbital Platform Geosynchronous over Tycho City, Luna, nine active habitats and forty-one active productions sites ranging from He-3 development for fusion reactors and mineral production for raw materials supporting the new race to inhabit near space.
2047-
William DeLancey II was identified as an heir to the DeLancey Estate. Rather than make the demand the fund be sundered at that time, he instead accepted a scholarship to pursue a degree in music composition. Additionally, an annual dispensation of a portion of the interest on the fund was given to support living expenses and pursuit of an additional degree in finance.
2049-
William DeLancey II joined the firm of Erris, James & Ford, Attorneys at Law and became one of the three-person board that made decisions on the DFIG moments with the DeLancey Fund while he completed his study of finance in his home country of England.
2053-
May 1st, 2053, the bombing of Philadelphia resulted in the death of all but nine employees of the firm of Erris, James & Ford'. With the resulting chaos of what historians know as the climax of World War III, the real estate and investment holdings of the DFIG went untended for a time.
2079-
After the time known as the Post-Atomic Horror, as governments were recovering and attempting to live up to the funding requests of the United Earth Government there was a move to nationalize assets unclaimed by survivors.
William DeLancey spearheaded the move to reclaim the assets of the DFIG and Delancey Foundation Trust, though liquid assets in the banking system and digital records of investments were not retrievable, the physical assets still held value. In his family's name, he made legal claims to billions of Eurodollars in mineral rights and facilities on Titan, Luna, Earth Orbital, the Sol asteroid colonies and mines on Ceres, 4 Vesta, 2 Pallas, and 10 Hygiea and full claim over a series of wildcatter worked rare earth and exotic mineral asteroid mines and refineries on 1862 Apollo, 1865 Cerberus, 1917 Cuyo, 1864 Daedalus, 1620 Geographos, 1666 Icarus, 216 Kleopatra, 10775 Leipzig, 3200 Phaethon, 1915 Quetzálcoatl, 1866 Sisyphus, 1685 Toro, and hundreds of lesser asteroids between Mars and Jupiter orbits and throughout the Oort cloud, as well as a major resource collection operation among the Jupiter Trojans.
The entrepreneurs who still continued in the vacuum of voice from the DFIG fund managers for 16 years did not all yield to international legal claims. Settlements were made to create partnerships with wildcatters which had been sponsored originally, and yielding majority share of profit for the time without Earth support. The colony based mining claims were restored to DFIG control with the growth of capital intact.
Arguments were made that the claims were not voided as a result of world war, and an effort on behalf of the DFIG to retain control of assets in space via facilities on Titan following the war. Management was loose, but not completely absent, thus giving no valid government claim for nationalizing the assets.
*The efforts to regain control of the financial proceeds and capital had been engaged in since WWIII and would be ongoing for nearly a decade. It was marked for this time period as this was the beginning of the attempt to avoid nationalization.
*A series of DFIG funded Oort cloud probes launched had registered dozens of claims in the Sol system, as well as eventual claim to 161 cometlike bodies in the Alpha Centauri system.
2080-
Legal assistance from Barrister at Law, Simon Smythe, working out of Cambridge, England, began to make a sincere difference in the legal argument to retain resources the new United Earth government had attempted to nationalize. Despite the new United Nations operating from an orbital station, the governmental body attempted to grasp control of many resources of those who had perished in the previous three decades in the name of lifting up all of humanity. While no legal argument against the movement was posted, an argument was made that the new nationalization act was onerous against those attempting to reclaim family legacies.
The official operations of the DFIG were once again moved to 2004 DeLancey Place late in the year after the building was rendered habitable.
2083-
A major endowment of assets was granted to the effort of preservation and reconstruction in the city of Philadelphia. The endowment was listed as near the entirety of liquid assets of the DFIG at the time.
2087-
Barrister at Law, Simon Smythe, had initiated the legal separation of the Delancey Foundation Trust on January 18th, 2087. As such, both were completely separate entities allowing for better legal control of the funds for the family. At the time, he was under instruction from the legal heir to the fund, to arrange the capital to purchase the colony ship which would be named the SS Agata. March 29th, 2087 the liquidation of assets was canceled, as the bid for the colony ship was lost to another organization out of Europe called the Vega Concern.
2088-
Previously unrecovered liquid assets in excess of $500 million USD value were discovered and immediately funneled into the recovery of the downtown Philadelphia area and neighborhood known as DeLancey Place. This was a valuable public relations move that secured work for the growing Badi population in the city, as well as gaining favor with the city fathers and local population.
Later that year, the Delancey Foundation Trust and the Family Trust were officially split financially, with a majority of the Family Trust now redirected to future plans for the survival of the Clan Badi.
2095-
With the passing of William DeLancey II, the manager-of-record for the DFIG became William DeLancey III. By-laws were established under his directorship which established a Board of Trustees for the Delancey Foundation and a Board of Directors for the DFIG, as well as all the additional subsidiaries and sub-corporations operating under its umbrella within the reach of the United Earth Government. This was in preparation for the family migration, and an effort to see to their posterity on Earth, as well as protect a century of work from what was feared to be a government unable to govern the world.
2101-
The Managing Director of the DFIG leveraged equivalent to $20,000,000,000 of the assets of the DFIG to bring the available capital up to successfully win the bid for a colony ship under construction, the Hieronymus, contracting equivalent to $33.5 billion USD to ensure that the Badi clan could secure the colony ship and outfit it.
2109-
The Board of Directors for the DFIG was expanded from the lawyers and family to include business partners for which the DFIG was a majority stockholder. In preparation for stepping back from control, the effort was put into action making the organization healthy for future generations and ensuring the health of the Delancey Foundation Trust.
2121-
Managing control of the DFIG was transferred to the Board of Directors, while in the absence of the Director during his transit to the Vega system.
2153-
With the advent of significantly advanced travel capabilities, high-speed travel, and communications the management of far-flung assets became more possible, as well as the proper accounting of said capital. The new Director DeLancey was able to maintain communication and make the family voice heard again on the boards.
2158-2160
Losses of personnel, mining assets, probes, and capital during the conflict with the RSE, as well as claims lost to the Romulan Neutral Zone treaty, were significant, amounting to roughly 15% of the DFIG assets. This inspired a drastic drawdown on prospecting, and focus on mining, refining and support of mining concerns. The value of the Delancey Trust and Delancey Foundation Trust were severely impacted, causing drastic reduction in aquisition and preservation efforts.
2268-
In Memoriam for Brigid Anne Connery (DeLancey), the personal dispensation for Mrs. Connery will not be discontinued with her death, but instead will be continued to be dispensed to her survivors. At this time, this included her stepson, Callan A. Connery who would in the following years become very active and rise to the head of the Board of Trustees of the Foundation with controlling interest in the DFIG.
2325
Following the disappearance of Callan A. Connery his son Thomas_C._Connery stepped up to take the family seat on the Board of Trustees, and in time the chairman position. Thomas would go on to oversee the most successful run of recoveries including original works, first editions, manuscripts, archive footage and musical press masters in 200 years.
2351
After celebrating a very successful career in advancing the efforts of the foundation and unearthing a new trove of lost original works Thomas_C._Connery suddenly announced his intent to step down as head of the board and discontinue association with the Foundation. All remaining dispensations were signed back to the foundation care and the Connery family was officially separated from the trust.
2359
Negotiations with the alien species Horta resulted in a partnership which result in a drastic increase in Pergium production in the Vega system. The new head of the mining operations, having gained experience with several non-federation companies discovered something astounding. In the largest of the mining operations he discovered that the slag pits were filled with an element greatly valued outside of Federation space. His orders expanded the mining efforts to include the collection and refining of the new element known as Latinum. The value of this newly discovered element, was purely because it could not be replicated, and was thus rare. The windfall was a significant boost to both the Delancey Foundation Trust and the Delancey Trust.
2409-Early
Fully half of the freighter fleet of the DFIG based out of Vega are lost with all hands. Massive losses are taken at the hands of a Borg attack in the sector causing a significant loss of life, material and resources.
Due to the disastrous attack on the Vega Colony, the Delancey Trust is placed into a holding. The funds are separated to make them accessible by survivors of the DeLancey family and Clan Badi. Unfortunately, it is believed that there are no survivors of the Delancey family remaining. The Board begins the legal process of transferring the Delancey Trust into receivership for the Clan Badi survivors they hoped would be found.
Just days before the completion of the process, a last surviving member of the Delancey family is found. The board is split in decision, places a hold on the Trust. The board was unanimous however in decision to provide the candidate disaster relief during the verification process. A property held in trust for hundreds of years was made available for housing and scholarship is provided to grant access to schooling for the candidate's chosen profession. Even without genetic proof, the board was satisfied that refugee service funds were properly dispensed.
2409-Late
The survivor of the Delancey line is verified, and is believed to be the last. Ms. Delancey is granted a seat on the Board of Trustees as is tradition of the foundation. Determination of the family trust is still ongoing, with a dispensation to be granted monthly to Ms. Delancey. As a first request to the board, and unanimously voted to existence, a large portion of the family trust is converted into a trust to support survivors of the Vega IX disaster.
2410-
Legal establishment of the Vega Survivors Fund, to be administered as a DFIG affiliated organization reporting to the Delancey Foundation Trust Board of Trustees and Stockholder's union.
The loss of the Vega colony was a personal one to the Delancey Foundation and many of the DFIG members in kind. At the behest of the sole inheritor of the Delancey legacy, one third of the family fund is dedicated to the aid of the survivors of the Vega disaster. This is to include those survivors of the colony itself, and the survivors and family members of the many lost performing DFIG operations within the system.
The fund is intended to provide refugee relief, relocation and rebuilding effort funding, as well as research and physical aid of types not yet determined.
2417-
The Vega Survivors Fund begins a program of hiring private surveyors to find new colony sites for expansion and placement of displaced individuals having minor success. By the end of the year, the board ratifies the decision to form a civilian fleet to serve the needs of displaced individuals and refugees. A new ship class is commissioned to be designed to meet these needs, cargo and colonist transportation independent of the established organizations.
2423-
August, 5, 2423, Chairwoman Delancey submitted a proposal to create an endowment for the preservation of Roman traditional art and music still preserved on Magna Roma. The proposal was unanimously voted through. The goal was not only to collect samples and preserve them in the annuls of the Foundation, but to partner with the people of traditionalist population to create a Foundation of their own overseen by their own board of trustees to accomplish what our Foundation has accomplished for Earth. The funds were directed from the Delancey Trust, and co-sponsored by three powerful original families of Magna Roma, Antonia, Julia, and Lycinia. Each of the families will maintain familial seats on the local board, while the Delancey Trust will hold an advisory seat. Anthropologists and artisans will be working in concert from both organizations, exchanging and hosting to share knowledge and skills of methods and traditions to preserve history through art.
Additional funds are being requested set aside for duplicate programs on other worlds.
2424
As of September, 15, 2424, Dr Delancey turned over control of her Board of Trustees vote to her proxy and fellow board member C.M "Mick" Mcnale citing professional conflicts during her duty as a Starfleet officer. While still acting as Chairwoman, her interaction is largely through her proxy and some consider to be ceremonial. While still the only officer of the Delancey Trust, her sign off is still required for certain expenditures.
2425-
The DFIG Board of Directors reassigns the proceeds of the Vega Survivors Fund to the reconstruction of the Vega Colony, with the CFO of the effort elected from the survivor, Nine of Twelve as he has chosen to be known. The Board also voted that "Seventy Five Percent" of all profits of the entire conglomerate that is the DFIG will be funneled to the reclamation efforts and reconstruction of the Vega Colony for a period of not less than five years. The two recovered freighters will also be reconditioned and turned over to the colony for their benefit and use.
The DFIG sponsored a new research concern studying Borg technology left behind in the Vega system. The Vega Cybernetics Research Center will concentrate on returning benefit from the tragic Borg incursion, and aid the affected in returning to productive individual lives.
2426
The proposal offered by Director DeLancey concerning the partition of a significant portion (1/3) of the Delancey Foundation Trust with the intent to create a few Trust and Charitable Work. Considering the massive expenditures in Vega under way, the DFIG Rep on the Board of Trustees voted against, but the remainder all vote to affirm the project, possibly in memory of the Director. Steps to divest the assets to create the Foundation for the Preservation of Music and the Arts Trust (FPMA-Trust) were undertaken and established. A vote to maintain a singular board was passed pending the second steps.