Dear Friends and Former Foundation Members,
In 1996, I retired as Executive Director of the Foundation and shortly thereafter the Foundation was moved from Wayne, Pennsylvania to Princeton, New Jersey, into the private offices of Chairman Martin Armstrong. Most work at the Foundation actually stopped after the move and no new Executive Director was ever appointed.
For the next couple of years the Foundation was leaderless. In September of 1999, Martin Armstrong was arrested for alleged securities violations and the offices of the Foundation were padlocked. For more than two years it remained so. The existing Board of Directors voted to give the assets of the Foundation to Bethany College and the Market Technicians Association.
In 2003 a very good friend of the Foundation, David Perales, whom I have known now for nearly 20 years, decided to revive the Foundation. The State of Connecticut and the Internal Revenue Service awarded the new board with the original 1941 Charter of the Foundation, and the original tax-exempt 501C-3 non-profit status, and thereby all rights to copyrights and works.
David asked if I would help bring the Foundation back and I agreed. I became the Chief Voluntary Officer. Since then the Foundation has received much of its assets back from the MTA and we have begun to re-publish Cycles Magazine and Cycles Projections.
We currently have a new board with many old friends helping us bring the Foundation into the new century. Project Firebird is a major digitization effort, underway now, which will allow the rapid distribution of the Foundation’s wealth of research and documents – well over 100,000 pages of original materials! Project Firebird also targets the reconstruct a new endowment fund to perpetuate the work of the Foundation by 2010. We hope you will assist us in this great work and vision.
Under the leadership of David Perales, our new President and Executive Director, we have already digitized all issues of Cycles Magazines from 1950 and we are again doing original research in cyclic phenomena. David brings to the Foundation more than 35 years of his own cycle research and has pioneered many original algorithms working toward the goals established by E.R. Dewey in 1941.
Best Wishes, and Welcome Back!
Richard T. Mogey
FSC Executive Director 1989-1996
Head of Research and Chief Voluntary Officer 2003-Present.
