The Endowment is very important to ABI's research and education mission. The Endowment Fund now totals over $1.6 million in cash and pledges, and enjoys nearly 100 percent participation from the ABI Board. Interest from the fund is available for scholarly grants awarded by the Research Grant Committee, chaired by Judge Steven Rhodes.

The capacity to perform seminal research is an integral part of ABI's presence on Capitol Hill, and an important part of the ABI mission to educate the membership about the potential effects of bankruptcy law. The 2005 bankruptcy law presents some unique opportunities to develop research projects that will help us assess the effect of the law on the industry, and perhaps the future direction of subsequent changes to the law. Yet the Endowment has only $100,000 in research funds that are not yet committed for 2006.

The Fund has three sources of revenue. Ten percent of the net income from the ABI Annual Spring Meeting and Winter Leadership Conference each year is donated to the endowment. These amounts totaled almost $90,000 in 2005.

Second, members have the opportunity to make a voluntary contribution with their dues renewal, now $45.00. This could total roughly $65,000 in 2005, perhaps as much as $25,000 more than 2005 if contributions continue at the current rate. Third, members are invited to participate in a club level recognition program. Pledges for these donations may be paid over five years. All donations are tax deductible.

The Endowment Committee, chaired by raised more than $120,000 in pledges this year through this effort. In addition, Melyssa Barrett of VISA has sought and obtained a pledge of $30,000 to support a program examining the impact of the Bankruptcy Abuse and Consumer Protection Act of 2005.

Through the Committee's efforts, we have already doubled the new pledges receivable from all of calendar year 2005. In addition, we have identified regional endowment chairs who will be raising funds at the regional level. Many of you may hear from the following insolvency professionals:

Bankruptcy Battleground West
Scott Gautier, Peitzman, Weg & Kempinsky

Central States Bankruptcy Workshop
Doug Lutz, Frost, Brown Todd LLC
Anne Miller, Novare Inc.

Mid-Atlantic Bankruptcy Workshop
Troy Taylor, Algon Group

New York City Bankruptcy Conference
Chester Salomon, Stevens & Lee

Rocky Mountain Bankruptcy Conference
Carl A. Eklund, Ballard Spahr
Gil A. Miller, Price Waterhouse
Michael Pankow, Brownstein, Hyatt & Farber PC

Southeast Bankruptcy Workshop
Jerry Markowitz, Markowitz, Davis, Ringel & Trusty
Luis Salazar, Greenberg Traurig, LLP

New Lifetime Members ($10,000-$24,999)

McDonald Hopkins Co. LPA—Shawn M. Riley

New Benefactors ($5,000-$9,999)

Jones Day—Richard A. Chesley & Paul E. Harner
H. Slayton Dabney Jr.—King & Spalding LLP
William Q. Derrough—Jefferies & Co. Inc.
Reginald W. Jackson—Vorys, Sater, Seymour & Pease LLP
Peter S. Kaufman—Gordian Group LLC
Joseph Samet—Baker & McKenzie LLP
Troy Taylor—Algon Group LLC
Jack F. Williams—Georgia State Univ./BDO Seidman LLP

New Sustaining Members ($2,000-$4,999)

Vernon E. Inge Jr.—LeClair Ryan, A Professional Corp.
Bruce H. Matson—LeClair Ryan PC
Suzanne S. Palmer—CIT Corporate Finance
Jean R. Robertson—McDonald Hopkins Co. LPA
Steven R. Strom—Jefferies & Co. Inc.
Ann vom Eigen—American Bankruptcy Institute
Wayne R. Walker—Walker Nell Consultants Inc.

New Donors ($100-$1,999)

John C. Akard—U.S. Bankruptcy Court
Douglas Bacon—Latham & Watkins LLP
Linda B. Riegle—U.S. Bankruptcy Court
Daniel W. Sklar—Nixon Peabody LLP.