Commems Collection Modern: 1992 Christopher Columbus Quincentenary Foundation Follow-Up

In the 1992 Christopher Columbus Quincentenary - Authorization thread, nickelsearcher asked:




Yes, the program was launched and did award funds to "Columbus Scholars" in the areas of Science/Technology and Arts/Humanities/Humanitarian. It also gave awards to teachers, community support programs and middle-school students. In addition, it actively collaborated with the National Gallery for America's Young Inventors.

Unfortunately, the Foundation was found to be spending more on administrative costs than its awards and came under the scrutiny of those looking to maximize efficiency in the US Government (the Foundation was established as an independent Federal Agency when it was created).

As the surcharges from coin sales did not reach the hoped for levels (see 1992 Christopher Columbus Quincentenary - The Coins), the Foundation's operations needed to receive ongoing Federal appropriations to continue. These Federal funds opened the Foundation up to audit and close review.

The Foundation fought for years against its critics to maintain its funding/operational activities. Unfortunately, it lost the battle in 2017 via the Consolidated Appropriations Act which repealed the authorization for the Foundation/Agency in May 2017.

The repeal was not immediate, however, it did not become effective until one-year after the Act's enactment. This was done to give the organization time to privatize if it desired/could. Despite the "grace period" provided, the organization did not become a privately-funded operation and its remaining funds were transferred into the General Fund of the United States ("US") Treasury.

On a side note, Frank Annunzio left Congress after serving in its 103rd (1991-1993). He died on April 8, 2001 - He was not available to save his creation.


For other of my posts about commemorative coins and medals, including other Columbus Quincentenary stories, see: [b]Commems Collection