ANNUAL REPORT OF THE TREASURY HISTORICAL ASSOCIATION

DOUBLE ISSUE 2004 - 2005

The Treasury Historical Association
Established December 13, 1973
Purpose: To assist the Department of the Treasury by fostering education on the history of that Department and its current and past constituent bureaus and by promoting and assisting in the historic preservation of Treasury properties, especially the National Historic Landmark Treasury Building next to the White House. Incorporation: THA is chartered and incorporated under the laws of the District of Columbia, and categorized under Section 501(c)(3) of the Internal Revenue Code as a nonprofit organization. Membership Categories: There are six categories of contributing membership available. As of December 31, 2005, the categories and levels of giving are: General, $12 per year; Supporting, $50 per year; Patron, $100 per year; Sustaining, $250 per year; Life Sponsor, $500 one-time; and Life Donor, $1,000 or more, one time. All membership contributions are tax-deductible for Federal income tax reporting, to the extent permitted by law. Benefits of Membership: All members receive advance notice of tours and lectures, publications issued periodically, volunteer opportunities, and discounts on THA commemorative products. Members who contribute at the Supporting level and above receive their choice of a special THA appreciation gift, which varies by year. Those members who contribute at the Patron level and above receive special recognition in THA’s Annual Reports and are given an appreciation certificate. Life Sponsor and Life Donor members receive special appreciation certificates, and the latter category of donors’ names are engraved on an appreciation plaque that is on display in a prominent location inside the Historic Treasury Building in Washington, DC. For Further Information: To learn more about the Treasury Historical Association, please contact THA at any of the following contact points: By writing to: Treasury Historical Association P.O. Box 28118 Washington, DC 20038-8118 By e-mail to: info@treasuryhistoricalassn.org By phoning:
On the web:

(202) 298-0550
www.treasuryhistoricalassn.org

TREASURY
Historical Association
Post Office Box 28118 Washington, DC 20038-8118

December 31, 2005 Dear Member of THA, This Treasury Historical Association (THA) Annual Report, which covers two years, 2004 and 2005, documents the Association’s activities during this period and our support to the Department of the Treasury in its educational and historic preservation efforts. During these two years, we were able to help the Department in significant restoration initiatives in the Building, including the magnificent triple-skylight dome in the West Wing, following removal of the elevators from the two spiral stairwells, and the West Wing Lobby. Additionally, two significant noontime lectures were sponsored by THA to help promote knowledge about the Department’s illustrious history. THA is totally dependent upon the generous contribution of time by our volunteers who work on our Board and on our committees and upon the donation of financial help from all our members. I want to publicly thank all who support THA, especially the officers who manage the daily activities of the Association and to those who chair our committees. THA is approaching its one-third century mark. We have “made our mark” in providing needed assistance to Treasury in helping to restore the Treasury Building and in honoring the history of this great department, through our educational lectures, our commemorative ornaments and their historical enclosure cards, and our research services. The success that THA has had during the past two years is directly attributable to the generosity of you – our members and our directors. We hope we can continue to count on you for help in future years, as we continue our efforts of providing assistance to the Department of the Treasury and enhancing education and knowledge of the history of this great government institution. Sincerely,

Thomas P. O'Malley Chairman, Board of Directors

Summary Financial Reports
2004 Opening Balance, January 1 Receipts Dues Interest (all accounts) Commemorative Product Sales (all items) Other Total Receipts $183,256 2005 $178,136

$ 10,867 $ 5,301 $ 4,588 $ 1,023 $ 21,779

$ 13,571 $ 4,557 $ 3,183 $ 1,000 $ 22,311

Sub-Total

$205,035

$200,447

Disbursements Administrative Expenses and Supplies Audit/Tax Services Contractor Services Gifts to the Department of the Treasury Postage Printing and Copy Services Purchase of Historic Items THA’s Treasury History Book Miscellaneous Expenditures Total Disbursements

$ 4,367 $ 450 $ 1,869 $ 5,820 $ 882 $ 899 $ 1,649 $ 10,143 $ 820 $ 26,899

$ 2,550 $ 450 $ 0 $ 43,970 $ 1,192 $ 279 $ 93 $ 19,790 $ 0 $ 68,324

Closing Balance, December 31

$178,136

$132,122

Note: All amounts have been rounded to the nearest dollar. Therefore, totals may vary from actual sum of categories. THA’s accounting records have been audited by an independent Certified Public Accountant, Eugene S. Sheskin. After examining the records of the Treasury Historical Association in conformance with generally accepted auditing standards, the auditor reported that the financial statements for the years ending December 31, 2003, December 31, 2004, and December 31, 2005 present fairly, in all material respects, the financial position of THA, including its revenues, expenses, members’ equity and cash flows.

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THA Board of Directors
Donald C. Alexander Former Commissioner of Internal Revenue Suzanne Cosme Management Analyst Internal Revenue Service William F. Falls Retired Director of Market Research, Savings Bonds Bureau of the Public Debt John F. Flood, Jr. Retired Management Analyst Office of Management Support Systems Departmental Offices Abby L. Gilbert International Economist, Office of Economic Policy Departmental Offices Judith S. Ochs Program Analyst, Office of the Fiscal Assistant Secretary Departmental Offices Paula A. Mohr Former Curator of the Treasury Building Departmental Offices David J. Monroe Director, Office of Cash and Debt Management Departmental Offices Clifford R. Northup Former Deputy Assistant Secretary (Legislative Affairs) Departmental Offices Thomas P. O’Malley Retired Director, Management Programs Directorate Departmental Offices Marcus W. Page Retired Deputy Fiscal Assistant Secretary Departmental Offices Charles H. Powers Former Deputy Assistant Secretary (Public Affairs) Departmental Offices Maggie K. Rindler Retired Program Analyst Internal Revenue Service Michael D. Serlin Retired Assistant Commissioner Financial Management Service Mary Ellen Withrow Former Treasurer of the United States

Ex Officio Members of the Board
Current Secretary of the Treasury John W. Snow Former Secretaries of the Treasury James A. Baker, III Lloyd Bentsen W. Michael Blumenthal Nicholas F. Brady G. William Miller Paul H. O’Neill Robert E. Rubin George P. Shultz Lawrence H. Summers

THA Officers
Chairman President Vice President Secretary Treasurer Thomas P. O’Malley Michael D. Serlin Mary Ellen Withrow Marcus W. Page David J. Monroe

Committee Chairs
Capital Development Commemorative Product Sales Finance Membership Programs Publications Public Communications Clifford R. Northup Thomas P. O’Malley David J. Monroe William F. Falls Mary Ellen Withrow Paula A. Mohr Charles H. Powers

Incorporators
Edward C. Schmults John K. Carlock Robert R. Fredlund

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2004 and 2005 Membership
Categories of Members
Life Donor Life Sponsor Sustaining Patron Supporting General Ex Officio Total

2004
42 14 0 20 92 129 1 295

2005
49 12 0 24 79 159 1 324

Life Donors (Continued
John W. Snyder (deceased) C. Eugene Steuerle John Vogt Paul A. Volcker Mary Ellen Withrow

Life Sponsors
Myles J. Ambrose Helen G. Bayer Mr. and Mrs. Jack Bennett Henry H. Booth Marilyn E. Brookens Commissioners of Internal Revenue Eleanor Johnston Ford Richard Krahn Judith S. Ochs Kurt Schuler Dr. and Mrs. Charls Walker Van Zeck

Life Donors
Anonymous Donald C. Alexander Nelson Page Aspen James A. Baker III Romana Acosta Banuelos Jane E. Bardon Cynthia G. Beerbower Mr. and Mrs. Allen Morris Bissell W. Michael Blumenthal Mr. and Mrs. Nicholas F. Brady John E. Chapoton Edwin S. Cohen (in memory of Nathan Gordon) Jon Andrew Cohen Dorothy Roper Daly Kenneth and Marcia Dam C. Douglas Dillon (deceased) The Dillon Fund F.P. Dominguez Paul W. Eggers John F. Flood, Jr. Henrietta Holsman Fore Henry H. Fowler (deceased) Matthew P. Goodman Grunley Construction Company, Inc. Clark W. Hart Judith F. Hernstadt M. Rita Lynch (deceased) J. Cecelia Masters (deceased) G. William Miller Carl L. Moravitz Clifford R. Northup Thomas P. O’Malley Paul H. O’Neill Marcus W. Page Charles H. Powers Randal Quarles and Hope Eccles Donald T. Regan (deceased) John F. W. Rogers Mr. and Mrs. Robert E. Rubin Mr. and Mrs. Ray Samuelson (in memory of Philip Freiman) Michael D. Serlin George P. Shultz William E. Simon (deceased)

Patron Members
Vernon D. Acree (2004 and 2005) Richard R. Albrecht (2004 and 2005) Michael A. Allen (2004) Martin B. Amdur (2004) Bette B. Anderson (2004 and 2005) Peter A. Bieger (2004 and 2005) Charles L. Bishop (2004 and 2005) Susan A. Dennis (2005) Dorene F. Erhard (2004 and 2005) Michael Faiella (2005) Betty C. Gilbert (2004 and 2005) Michael and Judith Healey (2004 and 2005) Thomas and Margaret Healey (2004 and 2005) Ruth Lord Hill (2004 and 2005) Barbara E. Holloway (2004 and 2005) David H.T. Kane (2004) Edward Knight (2005) Pamela Lew (2004 and 2005) Steven E. Luher (2004 and 2005) Sara Paulson (2005) Anthony H. Poole (2004 and 2005) Maggie K. Rindler (2004 and 2005) Rory Schultz (2005) Dale Tarter (2004 and 2005) Grace K. Testoff (2004 and 2005) Rachel Tyler (2005) Margaret M. Unkle (2005)
This listing was compiled from the records available to us at publication time. We apologize for any inadvertent omissions.

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THA’s Gifts to the Treasury
The Treasury Historical Association, during 2004 and 2005, provided a number of gifts-in-kind as well as financial contributions to assist Treasury in continuing its restoration projects and in expanding its comprehensive collection of images of the Treasury Building. Among many significant gifts-in-kind that THA donated to the Department of the Treasury was an 1828 manuscript copy of J. Goldsborough Bruff’s Book of Heraldry. The book is very significant as an early manuscript associated with a draftsman who spent virtually thirty years of his professional career designing ornamental iron work, lighting fixtures and furnishings for the Treasury Building. Bruff entered the Treasury Bureau of Construction as a “draftsman and artist” in 1853 and a prolific amount of drawings followed as the Department expanded and added its three extensions. Many of the drawings for the wings and their furnishings clearly show the influence of his adventures in the American West. Featured prominently in his designs for chandeliers are North American Indians, animals and vegetation associated with the west. In the cast iron entablatures, the artist depicted arrowheads and acorns, also drawn from the American West. In addition, Bruff is credited with the design of the “Secretary’s Mantel,” a white marble mantel that Treasury purchased for the West Extension. Another significant gift-in-kind was a set of four sconces that were manufactured to match the recently-acquired antique chandelier that was installed in the West Wing Lobby. The additional lighting generated by the four matching sconces help illuminate the space to a higher level, as needed for the overall treatment of the area. Other gifts included a number of historical images of the Treasury Building, in postcards, etchings, engravings, and published articles. These historical images have been of great use to the Office of the Curator in their research on the appearance of Treasury Building architectural features over many decades. Also given as donations were a number of books for the Treasury Library, such as Ron Chernow’s Alexander Hamilton, THA also conveyed as gifts a number of items that had been donated to the Association by its members, including Nelson Page Aspen’s published History of Bermuda Paper Money and a number of Treasury mementos given by Adrienne Burch, including a framed U.S. Savings Bonds Minuteman logo branded on decorative cowhide.

Restored Monumental Dome and Skylights of West Wing

Some of THA’s Board of Directors, with one of the sconces donated for the West Lobby. Shown are (left to right) Board Chairman Tom O’Malley, incoming Vice President Judy Ochs, incoming Secretary Bill Falls, Past President Mike Serlin, and incoming Board Members Cora Beebe Fosdick and Jerry Murphy.

During both years, THA contributed significant funding to the Department for the restoration of the Monumental Dome and triple skylight area above the center spiral staircases of the West Wing of the Building. The beauty of this space had been hindered and hidden for over 120 years by the elevator shaft and mechanical equipment installed through the stairwell almost up to the surface of the dome. Also, THA provided funding to Treasury for the repair and restoration of ceiling stenciling in the Diplomatic Reception Room, where the plaster had been damaged by water leaks.

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Board of Directors Meetings 2004
March 17, 2004
In attendance at this meeting were Mss. Cosme, Gilbert, Ochs, Rindler and Withrow, as were Messrs. Falls, Flood, Monroe, O’Malley, Page, Powers and Serlin. Mr. Monroe’s Treasurer’s report indicated receipts and expenses, with a balance of $184,933. The Board requested that future reports show amounts committed against the balance, e.g. for the Treasury history book. Mr. Serlin announced the appointment of Ms. Withrow to chair the Programs Committee; she, in turn, reported that the Committee would be scheduling an event shortly --with R. Bruce Craig, author of Treasonable Doubt, a recount of the Harry Dexter White spy case at Treasury. Mr. Falls, as Membership chairman, reported on his analysis of membership count over recent years, noting a decline in members that should be addressed. He also announced selection of the 2004 appreciation gifts for larger donors, a marble paperweight with a vintage Treasury view and a rosewood pen and pencil set for 2005. Mr. O’Malley presented the Commemorative Products Committee report, noting that sales during 2003 totaled about $6,000. He reported on the development of “refrigerator magnets” from stones with vintage Treasury views that were remaining from the 2000 ornament; the magnets were a best seller at the December Cash Room holiday sale event. Mr. Serlin announced the selection of Ms. Mohr to chair the Publications Committee. Mr. O’Malley on Ms. Mohr’s behalf, reported that they were reviewing the third revision of Chapter I of the Treasury History Book, which is being written by recognized architectural history expert, Pamela Scott. Mr. O’Malley presented a motion to authorize the publisher of THA’s 2000 photograph calendar to discard all remainder copies except for 300 in his possession and 300 in Mr. Flood’s possession. A second motion he presented was for THA to provide to Treasury $30,000 (of which $20,700 would be drawn from the remaining balance from a previous THA gift) to be used to restore the water-damaged decorative ceiling treatment of the Diplomatic Reception Room. A third motion was presented by Mr. Falls, to authorize the Membership Committee to use the 7-view Treasury postcard set as a means to foster increased membership, viz., by sending a set to each member to use to contact 7 persons who might be interested in joining THA. All three motions passed by voice vote.

June 16, 2004
The Board meeting was convened, after a lecture by R. Bruce Craig, author of Treasonable Doubt. Present were Mss. Cosme, Gilbert, Mohr, Ochs, and Withrow, and Messrs. Falls, Flood, Monroe, O’Malley, Page, Powers and Serlin. Also as a guest was Elaine Rand, of Treasury Recreation Association’s Board of Directors. Mr. Monroe’s Treasurer’s report indicated receipts and expenses that resulted in a net increase of about $2,500 during the first five months of this year. Ms. Withrow reported on future lectures and events being considered by the Programs Committee, including a possible lecture on Robert Mills or by Ron Chernow, author of a new book on Alexander Hamilton. Mr. Falls presented a new THA member recruitment poster of Alexander Hamilton in the familiar World War II “Uncle Sam Wants You” picture. Mr. Flood reported on his contact with the Treasury Credit Union to develop an article in its newsletter to attract new THA members. Responding to a member’s suggestion, Mr. Falls offered a motion to permit THA to sell any extra appreciation gifts for $15. The motion was passed by voice vote. Mr. O’Malley presented his Commemorative Products Committee report, stating that sales were slow. He and Ms. Rand are developing an agreement between THA and the Treasury Department Recreation Association for the latter to sell commemorative products for THA. For the Publications Committee, Ms. Mohr reported that the 2002-2003Annual Report would be produced shortly, saving production and mailing cost by combining two years into one report. The Communications Committee Chair, Mr. Powers, reported on his preparing a release on the Bruce Craig speech to the Treasury Press corps and that he had developed a THA Communications Plan for review. Mr. Falls reported that he had been apprised by an attorney that THA was included in a will of a late member who wished to leave $1,000 to the Association. Following the meeting, Mr. O’Malley presented e-mail motions to: (a) modify THA’s contract with author Pamela Scott to provide a new schedule for chapter deliveries and partial payments; (b) support Treasury’s lecture by Ron Chernow, author of Alexander Hamilton biography; and (c) purchase and provide as a gift to Treasury manuscripts of J. Goldsborough Bruff, noted designer of Treasury Building metal architectural artwork. All motions passed by e-mail vote.

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September 13, 2004
The Board meeting was convened, following the lecture by Ron Chernow, author of Alexander Hamilton. In attendance were Mss. Cosme, Gilbert, Mohr, Ochs, and Withrow; also present were Messrs. Alexander, Falls, Flood, O’Malley, Powers and Serlin. Mr. Monroe’s Treasurer’s report indicated receipts and expenses, with annotation of amounts due to the author of the Treasury history book, now in development. A motion to annotate future summary statements with total anticipated expenses was passed by voice vote. Ms. Withrow, Programs Chair, briefed the Board on the initial planning of her committee on a possible event on Robert Mills, as well as on potential speakers for the annual open membership meeting in December. Mr. Falls’ Membership Committee report included his follow-on efforts to work with the Treasury Credit Union to include an article in their newsletter to stimulate THA membership interest. Mr. O’Malley presented his Commemorative Products Committee report, noting that sales continue to be very low, with some limited sales occurring via E-Bay postings. The Publications Committee Chair, Ms. Mohr, reported the Annual Report has been issued, posted on THA’s website and mailed in hard copy to members without Internet access. Several other new business topics were discussed at the Board meeting, with motions proposed to: (a) for a Committee for Development, the responsibilities of which will include efforts to pursue corporate sponsorship; and (b) discuss with Treasury actions needed to take care of water damage in the North Lobby that occurred recently. Both motions were passed by voice vote.

December 8, 2004
The Board meeting was held following a special lecture presentation on the Treasury Restoration and Renovation Project, with guest speaker James A. Thomas, Jr., Director of the Treasury Office of Facilities and Support Services. In attendance at this meeting were Mss. Gilbert, Ochs, and Withrow, as were Messrs. Falls, Flood, Northup, O’Malley, Page, and Serlin. In Mr. Monroe’s absence, Mr. Page presented the Treasurer’s report, which showed a closing balance of $178,024, with commitments to the completion of the Treasury history book annotated as a footnote. Ms. Withrow reported on the Programs Committee’s discussions on future speakers for THA noontime events, possibly Secretaries Shultz and Blumenthal. Mr. Falls’ Membership Committee report showed that current membership is at 281, and that mailings were made to some 60 of last year members who had not yet renewed for 2004. He also reported that recent publicity in the Credit Union newsletter did not yield any new membership contributions. Mr. O’Malley reported that the Commemorative Products Committee’s proposal to the Treasury Department Recreation Association, for marketing THA products to employees, has been signed by both, and that the agreement will take effect on January 1, 2005. Mr. O’Malley also reported on behalf of Mr. Powers and the Public Communications Committee, noting the continuing efforts to discuss possible coverage of the historic Treasury Building with the Discovery Channel. Mr. Northup, newly-appointed chair of the Development Committee announced his efforts to identify through contacts with Treasury those initiatives that would be appropriate to pursue fundraising efforts for. Also, he will work with Ms. Withrow’s Programs Committee on planning of the potential event on Robert Mills.

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Board of Directors Meetings 2005
March 16, 2005
In attendance at this meeting were Mss. Cosme, Gilbert, Mohr, and Ochs, as were Messrs. Falls, Flood, Monroe, O’Malley, Page, and Serlin. Mr. Monroe’s Treasurer’s report for the close of 2004 indicated a balance of $178,136. He indicated that THA’s annual review by an independent auditor has begun. Since the first of January 2005, receipts amounted to $5,034 and expenses to $9,780, the latter mostly for progress payments for incremental completion of the Treasury History Book. Mr. Serlin reported on behalf of Mr. Northup’s Development Committee, noting the efforts to coordinate with senior Treasury officials on the possibility of THA hosting a fund-raising event in the Cash Room, using corporate sponsorship. Mr. Falls’ Membership Committee report showed an increase of 28 new memberships resulting from the December lecture meeting and the Cash Room Holiday Sale event. He also apprised the Board that THA is the beneficiary of a $1,000 gift from a former member’s estate, pursuant to his will. Mr. O’Malley presented his Commemorative Products Committee report, noting that the Cash Room holiday sale brought in $1,200. He asked for Board approval to use the IRS note cards for membership solicitation to IRS executives and managers and proposed to authorize THA’s marketing partner, White House Gear, to order additional THA 1993 ornaments (IRS) from THA’s supplier, since the stock is exhausted. Both motions were approved by voice vote. Ms. Mohr reported that the Publications Committee has received 2 of the 5 chapters of the Treasury history book and is pleased with the quality. The target date for completion has been slipped until April 2006. Mr. Serlin, on behalf of the Public Communications Committee, reported in Mr. Powers’ behalf that he is in the process of working with the Discovery Channel to examine the possibility of special program on the Treasury Building. At a date following this Board meeting, Mr. O’Malley presented a motion for THA to contribute $40,370 to Treasury for restoration of the large dome with triple skylights in the West wing of the Treasury Building. The motion was approved by e-mail voting.

June 6, 2005
The Board meeting followed a talk by the Treasurer of the United States, Anna Escobedo Cabral. In attendance at this meeting were Mss. Cosme, Gilbert, Ochs, Rindler and Withrow, as well as Messrs. Alexander, Falls, Northup, O’Malley, Page, Powers and Serlin. In Mr. Monroe’s absence, Mr. O’Malley distributed the Treasurer’s report which showed THA’s gift to Treasury of $40,370 for work on the triple-skylight dome. Mr. Serlin advised of his invitation to former Secretary James A. Baker III to speak at the annual meeting to be held in December (date later changed to November 1). Mr. Northup briefed the Board of initial plans for a gala fundraiser, which he is in the process of coordinating with Treasury officials. Included in the plans is a predinner reception with the Secretary. A series of meetings will be set up for further planning of this event. Mr. Falls presented the Membership Committee’s report, citing 200 new year renewals received thus far, and noting the remaining 118 past year members will be receiving a second request for 2005 renewal donations. The Commemorative Products Committee report was presented by Mr. O’Malley, who indicated that he had sent 100 IRS note cards, with membership information to senior executives and managers at IRS. Thus far, only one new member has joined from this effort, and two orders were received for boxes of the IRS cards. In Ms. Mohr’s absence, Mr. O’Malley also presented the Publications Committee’s report, advising the Board that an increment of Chapter III of the Treasury history book was received, with four chapters remaining to be written. Mr. Powers briefed the Board on the Public Communications Committee’s work with the Discovery Channel, in the hopes of their producing a program on the historic Treasury Building. Discovery’s assessment was that they needed to have some human interest stories included in any production that they might develop, so all Board members were invited to submit to Mr. Powers any suggestions that they might have. Ms. Cosme advised that it was too late for THA to apply for Combined Federal Campaign status this year, but that we should consider this in the future. Mr. Serlin asked that a subcommittee of the Development Committee pursue the process for getting THA into the CFC.

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September 14, 2005
In attendance were Mss. Cosme, Gilbert, Ochs and Withrow; also, Messrs. Alexander, Falls, Flood, Monroe, Northup, O’Malley, Page, Powers and Serlin. Mr. Monroe’s Treasurer’s Report showed receipts and expenses that resulted in a net reduction of about $33,000 due to the recent $40,000 gift to Treasury. He also reported a bequest had been left to THA by a late member, in the amount of $1,000. The chair of the Programs Committee, Ms. Withrow, advised that she would be resigning from the Board, and spending more time in Florida. Mr. Serlin thanked her for her help with the Board’s activities during her term. Mr. Monroe, Nominating Committee chair, advised that three directors will not be continuing, and that six THA members wish to be considered for Board vacancies. The Committee recommended increasing the size of the Board from 15 members to 18, temporarily, to permit these six to serve. The motion was passed by voice vote. Mr. Falls, chair of the Membership Committee, provided data on THA population. Discussed after his report was whether one could upgrade a membership from Life Sponsor to Life Donor. Mr. O’Malley reported that a precedent had been set years ago on this question, and that such a donor could, indeed, upgrade by remitting the difference between the two life membership categories. The Board was briefed by Mr. Northup on the Development Committee’s initial planning for the fundraising gala and his coordination with Treasury. Mr. O’Malley reported that the Commemorative Products Committee had very limited sales this year, mainly through E-Bay and Treasury Department Recreation Association sales. On behalf of the Publications Committee chair, Ms. Mohr, who was absent, Mr. O’Malley reported that the third chapter of the Treasury history book has been completed and submitted for review. Mr. Powers, of the Public Communications Committee, advised that he was in contact with History Channel, to promote interest in a program on the Treasury Building. Mr. Serlin reported that he, Mr. O’Malley and Treasury Curator Richard Cote, have begun to meet with the PNC Bank, successor to Riggs Bank, to discuss donation of historic Riggs collection to THA or Treasury. At a later date, Mr. O’Malley introduced a motion for THA to donate to Treasury four reproduction wall sconces to match the antique chandelier purchased by the Department for the West Lobby. The motion for expenditure of $12,000 for these sconces was passed by e-mail vote.

December 7, 2005
Present were Mss. Gilbert, Ochs and Rindler, as well as Messrs. Falls, Flood, Monroe, Northup, O’Malley and Serlin. Also attending were incoming Board members Gary Grippo, Elaine Rand, Lori Santamorena and Lillian Wright. Mr. Northup reported on the gala event in initial planning to serve as a fundraiser for THA. The Development Committee is seeking 4-5 major corporate and trade association sponsors. Mr. Monroe presented the Treasurer’s Report, noting that the balance of $137,000 was down $47,000, due to the $40,000 gift to Treasury for restoration of the West wing dome and $20,000 to the author of the Treasury history book for incremental completion. Mr. Falls reported the Membership Committee statistics, only one new member since November 1 and an upgrade of Life Sponsor membership to Life Donor. Mr. O’Malley, on behalf of the Commemorative Products Committee, reported that sales this year to date have totaled $2,000, and that the following day would be the Annual Cash Room Holiday Sale, at which THA usually sells over $1,500. Mr. O’Malley also reported for the Publications Committee, in Ms. Mohr’s absence, stating that the author of THA’s history book on the Treasury Building has completed the fourth chapter, covering the West Wing of the Building. He noted that the author’s research has uncovered important new discoveries not previously known to Treasury, and of great interest and value to the Office of the Curator. Mr. Serlin reported on the continuing liaison with the PNC Bank, with respect to THA being the possible recipient of donations from the Riggs Bank historic archives collection. Discussions with PNC Bank, successor to Riggs, are ongoing. A general discussion ensued on the status of the Treasury tour program, with expressions of hope that the Saturday tour program will be resumed in the near future. At the end of the meeting, the election of officers for 2006-2007 took place, with the following results: Chairman, Tom O’Malley; President, Dave Monroe; Vice President, Judy Ochs; Secretary, Bill Falls; Treasurer, Gary Grippo. Prior to this meeting, on November 1, a slate of Board directors was presented to all THA members in attendance. This resulted in the election of six new directors to replace three out-going directors of the Board, in accordance with the Board’s previous authorization to temporarily increase the size of the Board from 15 directors to 18, as a means of facilitating successor planning for the Association.

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Annual Open Membership Meetings
December 8, 2004 and November 1, 2005
At each of these two Annual Open Membership Meetings, held in the Cash Room and open to all members of the Association and guests, each Committee chairman or an alternate delivered a brief status of their activities to apprise attendees of both past efforts and planned actions for the future. At both meetings, brief, capsulated reports were provided to attendees by the Finance Committee, the Membership Committee, the Publications Committee, the Commemorative Products Committee, the Public Communications Committee, and the Programs Committee. At the 2005 Annual Meeting, the THA Nominations Committee Chairman, David Monroe, distributed ballots to current THA members for the election of the 20062007 Board of Directors. Most of the Board composition from the 2004-2005 term were included in the slate, with three of the 15 Board members declining to serve for the next term. As a result of the Nominations Committee’s outreach, six individuals were identified to have great interest to serve on the Board. To accommodate successor planning, the Board, by voice vote, approved an interim increase in the size of the Board, from 15 to 18. Therefore, ballots provided to attendees at the meeting included 18 candidates for the temporaryapproved 18 positions on the Board. Results of the election were tallied, and Mr. Monroe announced the new THA Board composition for the next two years, which included six new members, Cora Beebe Fosdick, Gary Grippo, Gerald Murphy, Elaine Rand, Lori Santamorena and Lillian Wright. Subsequent to the Annual Membership Meeting, officers were elected for the subsequent term. Following the business portion of the two meetings, the guest speakers were introduced. At the 2004 meeting, the guest speaker was James A. Thomas, Jr., Director of the Treasury Office of Facilities and Support Services. Mr. Thomas provided a progress report on the multi-year Treasury Building and Annex Renovation and Restoration (TBARR) project. In his presentation, he recognized the important role that THA had assumed, in assisting Treasury in many ways during the recent past years. He also gave THA a preview of the removal of the elevators from the spiral staircase well in the West Wing of the Treasury. The elevators were slated to be relocated into what is currently office space down the hall from their present location. At the 2005 meeting, the guest speaker was James A. Baker III, former Secretary of the Treasury and former Secretary of State, as well as former Chief of Staff both under President Ronald Reagan and President George H.W. Bush.

Former Secretary of the Treasury James A. Baker III , as he addresses THA members and their guests at the November 1, 2005 Annual Open Membership Meeting.

Secretary Baker provided a very informative and humorous account of several “behind-the-scenes” experiences he had during his political career both in Texas and in Washington, DC. Following each of the Annual Membership Meetings’ presentations by the guest speakers, a brief reception and refreshments were provided to the attendees, giving them an opportunity to meet the guest speakers.

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Other THA Events
In addition to hosting two guest speakers at the Annual Open Membership Meetings, THA had two additional invitational events during 2004 and 2005. In June 2004, THA member and published history author R. Bruce Craig spoke to members and guests on an important Cold War espionage case that had a Treasury Department connection. This was a 1948 case involving the former Assistant Secretary of the Treasury Harry Dexter White, who was accused, along with Alger Hiss, of colluding with the Soviets. The fact that White died shortly after testifying before the House Un-American Activities Committee only fueled speculation that he was indeed a Soviet spy and that his death was the result of foul play. However, Dr. Craig argues that, while White was involved in a “species of espionage,” his actions fell short of “policy subversion.” In June 2005, THA members and guests were honored to be addressed by the recently-appointed Treasurer of the United States, Anna Escobedo Cabral. Ms. Cabral spoke of her own personal background and her unusual higher educational opportunities that were made possible for her by a very dedicated and helpful high school teacher. Her challenging youthful years helped her prepare for some unusual challenging life experiences.

History in the making – a rare occasion for three U.S. Treasurers to be together. Two previous Treasurers joined the current Treasurer at THA’s noontime lecture event: Mary Ellen Withrow (1994-2001), Anna Escobedo Cabral (current Treasurer) and Kathryn Davalos Ortega (1983 – 1989)

Ms. Cabral also shared her developing interests in the Federal Government, demonstrated by several successive and successful appointments. Immediately prior to taking the office of Treasurer of the United States, Ms. Cabral served as Director of the Smithsonian Institution's Center for Latino Initiatives. Previously, she served as President and CEO of the non-profit Hispanic Association on Corporate Responsibility, and in earlier years served as Deputy Staff Director for the United States Senate Judiciary Committee.
Bruce Craig’s lecture for THA was drawn from his recently published book Treasonable Doubt: The Harry Dexter White Spy Case (University Press of Kansas, 2004).

The new U.S. Treasurer also explained her duties as a spokesperson for Treasury programs and national financial policies of the Administration.

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Commemorative Products
Ornaments
THA continued its past years’ commemorative products during 2004 and 2005. Its 12-year series of commemorative holiday ornaments continues to be of interest to new members and new customers who were unaware of these items during their original issue years. THA’s commemorative ornament program began in 1989 with a souvenir memento of the celebration of the Bicentennial of the Department of the Treasury and ran through the year 2000 for the Bicentennial of the first Treasury Building in Washington, and the Bicentennial of Washington, DC as the Nation’s Capital. Among the best sellers in this commemorative ornament series was THA’s 1993 ornament on the Internal Revenue Service and the 80th Anniversary of the 16th Amendment of the Constitution, which authorized the collection of income tax. The popularity of this 1993 ornament was due, in part, to comedian-columnist Dave Barry’s presentation of it to the general public through his timely syndicated newspaper article, his humorous book on unusual gifts, and his showing it on the late-night David Letterman show. This ornament is now no longer available. Since this commemorative ornament program was begun in 1989, THA has attained net proceeds of over $150,400 from the sale of ornaments, of which $84,000 was attributable to the 1993 IRS commemorative ornament. This has greatly helped the Association’s mission objectives.

Printed Products
During 2004 and 2005, THA also continued to market its Treasury Building South Wing note cards, as well as its large, framable, signed and numbered Treasury Building lithograph. Both of these products were nearing the end of the inventory at the end of 2005, and will no longer be sold by THA. These products are from paintings done by noted local water-color artist Ken Frye.

THA’s full-color signed and numbered lithograph of the National Historic Landmark Treasury Building

THA also continued to sell its seven-view set of picture postcards of the restored rooms of the Treasury Building, as well as a variety box of note cards with the historic architectural features of the Internal Revenue Service’s National Office Building. These cards consist of six montage images that show many of the unique design elements of the Building. To date, THA has attained net proceeds of over $8,600 from sales of these various printed items.

Treasures of the U.S. Treasury Calendar
During the two years covered by this report, THA continued to offer its fine-art photographic collectible calendar for 2000 -- Treasures of the U.S. Treasury. With 13 major photographs and about 50 archival photographs, drawings and etchings throughout, as well as narrative materials on the many historically-important images, this calendar served as a significant educational medium to foster interest in the Treasury Building and in THA’s missions.
“Many Happy Returns” -- THA’s 1993 Ornament that Commemorated the 80th Anniversary of the 16th Amendment, Showing the First Tax Form 1040

“Remainder” copies of this calendar are available directly from THA, without charge, except for minimal postage fees.

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