Casque and Gauntlet Trust

“The treasurer and executive director review the 990 before it is filed to check for accuracy and correctness. They also provide a copy of the finished product to the trustees before filing.”

“The organization allows the public to request the documentation and it is provided upon request.”

“From june 1964 until march 15, 2020 (when the covid pandemic caused dartmouth college to cease in-person operations), the casque & gauntlet trust used its real estate holding at 1 south main st., hanover, nh and its financial resources to provide housing and programmatic support for the casque & gauntlet, inc., an entity that comprised an alumni association of prior members linked to a senior society at dartmouth college. Beginning in late march 2020, the trustees of the casque and gauntlet trust met several times to discuss how the trust could continue to survive in the short term as well as what its longer-term future might be based on the several significant challenges confronting it -- including that dartmouth's move to virtual operations had reduced the organization's real estate income to $0 even while expenses continued. On may 8, 2020, the trustees concluded as follows: 1. Reflecting continuing consideration of a) several years of increasing real estate losses even without including any provision for significant unfunded and accumulated depreciation, and b) greatly increased complexity of its operations, the trustees determined that it did not appear likely there was a sustainable go-forward financial model for the real estate as a residence for the casque & gauntlet, inc. 2. In order to avoid imminent financial insolvency based on a) the impact of the covid pandemic on the rental revenue for the real estate, b) impending increased monthly losses, and c) dwindling trust cash balances, the trustees decided to launch immediately an attempt to lease the real estate to the trustees of dartmouth college and to so inform both the board of directors and student delegation of the casque & gauntlet, inc. On july 31, 2020, the trust signed a three-year, $1 per year lease for 1 south main st. With the trustees of dartmouth college whereby, on behalf of the several graduate school programs at the college, dartmouth would manage, utilize, and cover all operating expenses for the real estate used for graduate student housing. The lease allowed the trust to avoid insolvency as well as time to modestly restore its cash balances. Importantly, it also assured that the trustees would have 3 years to assess thoughtfully their questions regarding viable go-forward financial and operating models for the real estate as well as regarding the future of the real estate and the trust itself - all in the context of the mission of the organization. Subsequently and largely unrelated, on december 31, 2020, the board of the casque and gauntlet, inc. Made the independent decision to reorganize the corporation into two newly created complementary entities, each building on a different aspect of the corporation's focus. Following this, the corporation suspended all ongoing activities except for administrative duties related to its dissolution. Given the above, it is the trustees' expectation that, working collaboratively with dartmouth college and in the context of the mission of the trust, an appropriate use for the real estate will be identified by mid 2023. Depending on the specifics of whatever arrangement is determined most appropriate, and since the trust's primary purpose has always been to manage its real estate in support of its mission and dartmouth college, the trust may then continue to operate or it may dissolve.”