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Theosophical Investment Trust

Apr 24, 1998 07:49 AM
by M K Ramadoss

In the January 1998 issue of AT, on pp. 19, in the President's Diary is an
interesting statement:

Refering to the Theosophical Investment Trust, which oversees the
investments of TSA -- (which runs into millions of dollars,) it states that
it has seven Trustees. Three Trustees are Ex-Offico -- TSA National
President, one of the National Vice Presidents, and the National Treasurer.
Four others (which is in a  majority of 7), are *self* *perpetuating* but
may not be officers of TSA.

Do you all understand what *self* *perpetuating* means? How many of you
have followed the 18 year litigation relating to another institution which
had such a *self* *perpetuating* situation? The Krishnamurti Trusts had the
same problem and when Krishnamurti was alive, these Trusts have to be sued
by a new Foundation and the California Attorney General to extricate the
Trusts from the self-perpetuating situation -- at enormous cost both in
terms of time and large sums of money that cost the lawyers to litigate.

TSA has not learned the lesson from Krishnamurti Trusts in spite of the
fact that one of the Officers of the TIT Trust was one of the Trustees of
the Krishnamurti Trust and was a defendant in the litigation. (Many members
of TSA do not know about this fact).

I have brought this to the attention of the TSA National President and the
Board of Directors couple of years ago. I also pointed this out at the time
of the last bylaws change which was presented as *house* *keeping* and all.

The recently proposed bylaws change also does not address this important

My Brothers, if for any reason, TSA's charter is revoked voluntarily or
involuntarily, then *all* the assets go to the TIT and from then on the
*self* *perptuating* trustees are not answerable to *anyone*. 

And we will have a re-run of a worser situation than what we saw in
Krishnamurti Trusts. At least Krishnamurti, the beneficiary, was alive at
that time. With charter revocation, you and me, the dues paying members of
TSA are no longer members and hence have no right whatsover to find out
what the trustees are doing with all the millions of dollars funds and
billions worth of real estate or with who is on the board of trustees.

With dwindling membership and branches, time is now for members to wake up
and do something about it. Contact your Directors, and other
representatives. Arrange to attend the Annual Meetings. Send in your
Proxies not to some one who is not in the current administration. Do
anything else you can think of? What we do now will affect whether TSA as
we know it will be there for our children and grand children.

My 0.02


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