The 2009 Tennessee Open tournament was dedicated to "Gene Lindsay" in honor and memory of him as a Master Tennessee Checker Player and a generous supporter and promoter of checkers.   Gene gifted Checkers over $360,920.00.  Mr. Davis announced that Betty Vanover would be present for a special Gene Lindsay presentation.  This would be a good opportunity to personally thank Betty and show our appreciation for this generous Lindsay bequest as funding to our great mind sport.  Lindsay's estate was settled in mid-January, 2009 which wasn't the best timing because of the economy; it would easily have yielded 2-3 times this amount if not in one of the worst real estate markets since the great depression.  A large proportion of Mr. Lindsay's net worth was his apartment complex (income property).  His will specifically provided checkers 7/8 of his estate, although there was surviving family, and a 1/8 went to Ms. Tasha Lane, his niece.  Never the less, we are thankful and appreciative that the funds were dispersed as following: 

• $206,240.00 to the ACF for the 3-Move National Fund.
• The ACF got an additional $51,560.00 to implement an International Match Fund.
• The Tennessee Checker Association got $51,560.00, and
• The WCDF receive $51,560.00 from Gene Lindsay's very generous will - (10% to World Checkers And Draughts Federation to set up a fund for World Qualifying Tournaments")

Betty received other estate equity but excluded from the apartment complex, probably because Gene thought he would outlive her, and Gene's niece received $51,560.00.

This is an exciting time and a strong promising forward step for checkers.  It will help promote Tennessee Checkers and I expect the interest and enthusiasm will greatly increase future TN Open attendance.

Frank Davis explained the Tennessee account was set up by investing it in a 3% CD.  This protects the principal with interest only to be used for tournament expense, and reporting the financial statement annually at the TN Open.  This account requires three signatures to make a withdrawal and therefore protecting the funds from an individual's death or a single individual's withdrawal. 

ACF President, Alan Millhone, indicated that the ACF accounts were set up similarly requiring three signatures. 

The WCDF General Assembly voted at the 2009 (GAYP) WQT in Isle of Wight, England on 9/02/2009, deciding Lindsay's money shall not be spent but invested in an index range of shares and the dividends used to fund WCDF.  It was voted at the GA that the Gene Lindsay money should be invested and the income used to help towards funding qualifying tournaments.  Ian Caws has invested the money at approximate 5% yield which should realize about £2K per annum.