The Admiral James J. Carey Foundation Announces Endowment Of The Good Samaritans of the Knights Templar Foundation

{Expanded Version: For Immediate Release: 3 July 2008}

Washington, DC: At a meeting yesterday on Capitol Hill in Washington, DC, Rear Admiral [Ret.] James J. Carey announced the launch of Phase III of the strategic plan to achieve the operational goals and objectives of The Admiral James J. Carey Foundation, including the selection of the first organization to be designated for an endowment from the foundation. In announcing this endowment, Admiral Carey said “I’m particularly pleased that The Good Samaritans of the Knights Templar Foundation is the first organization to be selected for an endowment from my foundation. The Good Samaritans have an established track record of doing tremendous good for so many people. I knew when I first traveled to Iraq with them in 1998 to meet with Cardinal Bidawid of the Chaldean Catholic Church in Baghdad that we could accomplish much together to help the less fortunate of the world, and here we are now, 10 years later, with my foundation being able to endow them to ensure that their fine work will continue to benefit humanity in perpetuity.”

The Good Samaritans of the Knights Templar Foundation [GSKT] supports numerous programs and projects focused on a broad range of efforts to aid the less fortunate. One of GSKT’s first programs was an effort to assist the Chaldean Catholic Church in Iraq when Saddam Hussein was in power and humanitarian aid in the form of food and medicine was being intercepted by the Iraqi government and not getting through to the people who needed it. Admiral Carey traveled to Iraq and met with Cardinal Bidawid in Baghdad in an effort to arrange for the direct delivery of this aid through the Chaldean Church. Good Samaritans has also been very involved in the SILENT KNIGHT Program and it’s efforts in promoting anonymous random acts of charity [See www.TheSilentKnight.com ]. In addition, GSKT has provided funds in support of the worldwide microcredit loan program designed to help the less fortunate in lesser developed nations start small businesses and thus, help themselves [See www.Oikocredit.org ]. Through this GSKT endowment, the Admiral Carey Foundation now seeks to fund the Good Samaritans as they reach out to a broad range of youth groups with a goal of training a whole new generation of leadership for involvement in solving world humanitarian aid problems.

The Admiral Carey Foundation is incorporated in the Commonwealth of Virginia, is approved by the Internal Revenue Service as a private 501.c.3 tax-deductible foundation, and Admiral Carey serves as Chairman of the Foundation. The purpose of the foundation is to endow organizations, programs, and projects that are educational, charitable, scientific, or religious in purpose and which focus on the training and education of future generations through internships, fellowships, and scholarships. This endowment for the Good Samaritans has been made to provide continuing support for one of their primary programs called SILENT KNIGHT, a truly outstanding program that supports the less fortunate throughout the world with anonymous random acts of kindness. The focus of this endowment will be on the training and leadership development of young men and women with a particular emphasis on involving them in international diplomacy and world outreach.

Asked why he considered the selection of this first endowment recipient as so important, Admiral Carey responded, “Because this finally gets us started. We’ve now been working on this entire foundation effort for over four years. It has involved a tremendous amount of time and legal work to first establish the trust in which to hold my assets in order to provide for my wife and daughters should anything untoward cause my early demise. That effort took over three years to research, develop, structure, and establish as a legal entity and then transfer my assets and holdings into that structure. We finished that process in late 2006 and then we went through another extensive and equally intensive effort to develop and structure this foundation and the related systemics and methodology to provide for its funding by my trust once my family has been cared for and no longer has need of those assets. That effort is also now completed and we’re fully involved in the process to determine which organizations the foundation will endow, and that is, in part, the reason why the foundation met yesterday. Good Samaritans is the first of several organizations we plan on endowing where the focus will be on youth leadership training. And with this selection of our first endowment recipient, we are now well on our way to fulfilling the purpose of the foundation and all the reasons we’ve been working so hard these past 4+ years.”

Admiral Carey continued, “As I have stated during previous foundation meetings, my foundation’s initial focus is going to be on those organizations and programs that I have been involved with and supportive of during my lifetime. The Good Samaritans of the Knights Templar Foundation is one of those organizations. I have over 40+ years of service on a broad range of organization boards of directors, with some of those experiences I consider as good, and some not so good. Indeed, there is nothing like decades of board service to learn the true inner workings of an organization. You see it all. Which are fiscally sound and prudent and which are not. Which treat their members with dignity and respect and which do not. Which have effective programs that you want to use your lifetime of earnings and your estate to support and continue, and which you do not want your money to be used for because you have seen first hand that all too many programs “do not do what they say they will do”. Quite frankly, I’m looking forward to using that 40+ years of experience to ensure that what gets endowed by my foundation is truly worthy of being funded and can be counted on to provide a true service to the nation and to our society in future generations and for centuries to come”.

Documents were circulated at the foundation meeting indicating that among the other organizations under consideration for endowment are a university, a high school, several fraternal organizations, several knighthood Orders, a broad range of youth groups, an equally broad range of national public policy organizations, and a Religious Order. Endowment plans are structured based upon each individual organization’s programs, policies, and projects and their track record over time as to performance. All endowment decisions are subject to limitations as to which existing or new programs and projects this foundation wants it’s endowment to be used for. All Admiral James J. Carey Foundation endowments are structured so as to continue annual funding in perpetuity, so long as the agreed to commitments in the endowment and the parameters of Admiral Carey’s donor intent are committed to by written agreement and then are strictly adhered to for the life of the endowment. Each endowed organization is required to furnish an annual audit by an independent Certified Public Accounting firm to certify their adherence to the requirements and activities designated to be supported by the endowment.

In closing yesterday’s meeting of the Foundation, Admiral Carey stated, “I’ve been particularly fortunate during my lifetime to have had numerous mentors and organizations that have taken an active interest in my life and whatever talents I may have been born with or taught by my parents and teachers and mentors over the years. One of the reasons I have decided to dedicate my entire estate to my foundation is, in part, to give back to society in recognition of those who helped me succeed in life, since I am unable to repay these mentors individually as almost all are no longer living. In recognizing them, and in endowing deserving organizations and programs that will serve society and our culture in future centuries, hopefully I will be providing future generations with some of the same successes in life that have come to me. I truly hope so, and take these steps today in endowing The Good Samaritans of the Knights Templar Foundation as the beginning of the process to now bring these endowments to fruition. I thank everyone that has agreed to help me bring these efforts into this successful and worthwhile structure. Together, we can do much good for America, and today we begin that effort in earnest.”

The Admiral James J. Carey Foundation is headquartered in the Commonwealth of Virginia. Admiral Carey manages the assets and programs of the foundation, aided by his two daughters, Lynn Margaret Carey of Denver, Colorado, and Sarah Ann Carey Cancel of San Diego, California, who will succeed him as Trustees of both his Revocable Trust and the Foundation should he become infirmed or when he dies. The foundation may be contacted via e-mail at secretary@admiralcareyfoundation.org and Admiral Carey may be contacted at his direct e-mail address: RADMCarey@aol.com Additional information and a list of Frequently Asked Questions can be accessed on the foundation’s web site at www.AdmiralCareyFoundation.org.

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The Admiral Carey Foundation Management Team

Will Brooks
Mr. Will Brooks
Director of Long Range Philanthropy
Admiral Carey Foundation
Jason Nguyen
Mr. Jason Nguyen
Director of Programs
Admiral Carey Foundation
Ms. Hanna Slomianyj
Ms. Hanna Slomianyj
Director of Women's Programs
Admiral Carey Foundation