Shelby Foundation/Go Like Hell

[A.J._Baime]

This press release went out today from the Foundation, pretty damn cool... Carroll is auctioning off for charity 66 signed copies of my book Go Like Hell. I figured I'd let members of the Forum know. Hope everybody's doing great!!

**

GARDENA, Calif. – Nov. 11, 2009 – The Carroll Shelby Foundation <http://www.carrollshelbyfoundation.org/> is offering 66 signed copies of “Go Like Hell – Ford, Ferrari, and Their Battle for Speed and Glory at Le Mans.” The critically acclaimed book tells the remarkable story of how Carroll Shelby <http://www.carrollshelbyfoundation.org/solid_carroll.php> helped Henry Ford II, Lee Iacocca and the Ford company defeat mighty Ferrari at the 24 Hours of Le Mans. Each copy being offered by the Foundation has been signed by Carroll Shelby and the book’s author, A.J. Baime.

The books cost $225 each, with all proceeds benefitting the Carroll Shelby Foundation, which provides financial support for children to help overcome life-threatening health issues and promotes continuing education. The signed books are available at CarrollShelbyFoundation.org <http://www.carrollshelbyfoundation.org/> or by calling (310) 327-5072.

“This is a special book about an important time in American racing history,” said Shelby. “A.J. did an amazing job of telling the story of how we took on the prancing horse and shocked the world in France. Each of these autographed copies is a true collector’s item and will be sold to benefit the Foundation.”

The Foundation is offering 66 signed copies of the book to commemorate Ford’s victory at the 1966 24 Hour of Le Mans. Mark Bechtel of “Sports Illustrated” writes, “One of sports’ greatest grudge matches finally gets the treatment it deserves in A.J. Baime’s dramatic and always entertaining book that’s sure to appeal to anyone who enjoys a good underdog story.”

“My goal with ‘Go Like Hell’ was to remind sports fans of how intense the great Ford and Ferrari rivalry was,” explained Baime. “During my research, I quickly learned that it was the relentless nature of the individuals involved that made the Le Mans win possible. Carroll has continued that approach with his Foundation for nearly 20 years now, which is why I’m proud to partner with him to offer this limited number of signed books.”

About The Carroll Shelby Foundation
The Carroll Shelby Foundation was created by legendary racer and automotive manufacturer Carroll Shelby. Headquartered in Gardena, Calif., the Foundation is dedicated to providing financial support for children and medical professionals to help overcome life-threatening health issues worldwide and promoting continuing education. For more information visit CarrollShelbyFoundation.org <http://www.carrollshelbyfoundation.org/> .

[Karl Bebout]

The CS Foundation is an excellent idea. What % of their donations have actually gone to " providing financial support for children and medical professionals to help overcome life-threatening health issues worldwide and promoting continuing education" and what % has gone for "admistrative costs"?

[Old Phart]

Opening up an interesting discussion. I'll fix some popcorn and wait for the replys.

[Karl Bebout]

I'm expecting incoming. Got my cover and flak jacket handy.

[Got the Bug]

Here's a link to an article from August 2009 with some details:

http://www3.signonsandiego.com/stori...ion/?uniontrib

Several quotes from the article:

"The foundation reported net assets of about $6.7 million in 2007, the most recent year for which it has filed tax statements. That's up from $2.9 million in 2005 and $1.7 million at the beginning of the decade. The 2008 filings are not available until the fall."

"But while donations keep streaming in, not much has gone out. The grants amounted to only 1.1 percent of the foundation's net assets in 2007. That compares with 0.086 percent in 2005 and 0.094 percent in 2006."

Carroll Shelby - “When I die, I want to have $10 million in my foundation. I'm not under any obligation to spend money until I reach my goal of $10 million.”

[Dangerous Doug]

Guys,

The basics behind a sustained foundation is to have a fund that is earning interest, and not to spend more than that interest is making. If the foundation is under construction, then the interest gain is directed toward building the $10M fund. Thus, the inflow/outflow question is a moot point.

The question should be how much of those assets are in investments that are generating money for the foundation and it's future recipients. While they build the foundation, outflows, I'm sure, are moderated. If assets are at $6.7M and the goal is $10M by Shelby's death (how old is he?), then I would think they are not burning money on extraordinary salaries. Keep those assets working.

If the goal is to have a $10M fund invested by the time he passes so that the annual interest on $10M can be used to benefit children in need of a heart transplant, what could be the fault in that?

Let those that are currently working their way up to a $10M foundation for ANY cause be the first to cast stones.

DD

[Karl Bebout]

The foundation was established 18 years ago, according to the link Doug listed. I don't ever remember hearing or reading that the "donations" made through purchasing any of the items sold, over the years, would be salted away until a goal was reached. I doubt that I was alone in thinking that the money was to go to help ill childred, in this lifetime. How many have suffered and died that may have been helped while this nest egg has been built.

[Got the Bug]

For years, all I've heard is criticism about Shelby's stewardship of his foundation. Unfortunately, the long term vision of the foundation has never been very clear, which has really hurt the foundation's public image.

I guess the bottom line is that people should donate (i.e. have stuff signed, buy raffle tickets, etc.) if they believe that the foundation will do good things once it reaches its funding goal.

In the end, Carroll Shelby's legacy and the effectiveness of his foundation won't be known until long after he's gone. It's easy to constantly shix on the guy and what he does. I'm not going to do it, because I don't know the man and don't have a crystal ball to predict how the future plays out.

[twobjshelbys]

We made our commitment at BJ Scottsdale 2009.

http://www.barrett-jackson.com/appli...&aid=283&pop=1

[twobjshelbys]

All of this aside, I'm really disappointed that this has turned into this again.

We should be congratulating AJ. His book is now part of the legacy.

Take the dissing somewhere else.

[Dangerous Doug]

Originally Posted by twobjshelbys

All of this aside, I'm really disappointed that this has turned into this again.

We should be congratulating AJ. His book is now part of the legacy.

Take the dissing somewhere else.

Seconded

DD

[Jamo]

move on...

[REAL 1]

Two Shelbys is correct.

This immediate knee jerk reaction to diss the man is what actually made this site counter productive to the advancment of the Cobra legend and the hobby this site purports to promote. This site in many respects is actually toxic to the Cobra legend and the advancement of the hobby as far as I'm concerned. Many of its own members immediately attack the man who but for him the Cobra would not even exist. Disgusting actually.

The fact is he established the foundation which is likely more then many here have done to promote a charitable cause for those in need or less fortunate.

I recently sent a donation to the foundation. Anyone else here?

[jwd]

Originally Posted by REAL 1

I recently sent a donation to the foundation. Anyone else here?

Good for you. I donate to those that distribute 95% of the contributions, not charge 95% as "administrative costs". PT Barnum was right.

Jim

[Jamo]

WTF did my post say?

Closed.