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January 27, 2004
RE:
Compliance with the Veteran’s Entrepreneurship
and Small
Business Development Act of 1999
To Whom It May Concern:
Palumbo Bergstrom LLP represents the American
Freedom Funds and Mischler Financial Group, the
exclusive service disabled veteran broker nationwide for
the American Freedom Funds. They
have asked us to provide you with our analysis of the
Veteran’s Entrepreneurship and Small Business
Development Act of 1999.
By way of background, Mischler is a
FINRA /SEC
Broker-Dealer specializing in conservative investments for
Institutional clients on a Global basis. Mischler has long
standing relationships with most of the major securities
firms on Wall Street and has access to virtually all
investment grade securities in the New Issue as well as
the Secondary markets. Mischler is certified as a
“Service Disabled Veteran Enterprise” and a “Small
Business” by the Department of General Services Office
of Small Business Certification and Resources, the
California State Treasurers office and Various other
Governmental Agencies throughout the
United States
. Mischler has specialized in serving state and local
government, financial institutions, government
contractors, insurance companies, universities, private
and public pension funds.
Mischler's status as a Service Disabled Veteran
Enterprise allows it to meet public agency and government
contractors' procurement requirements pursuant to the
“Veteran’s Entrepreneurship and Small Business
Development Act of 1999” (the “Act”).
The Act requires the Small Business Administration
and other federal agencies to implement policies and
programs assisting veterans (particularly service disabled
veterans), in among other things, the procurement of
contracts with federal agencies. The Act authorizes the
President to establish annual government-wide goals for
procurement contracts awarded to small business concerns
owned and controlled by service disabled veterans (“SDV’s”).
The
government-wide goal for participation by SDV’s must be
at least 3% of the total value of all prime contract
awards for each fiscal year. Any department, agency or organization which receives
federal funds, can comply with the new Act by utilizing a
services disabled veteran-owned small business, such as
Mischler.
The head of each federal agency, in consultation with the SBA is
responsible for establishing annual agency-specific goals
for participation by SDV’s.
At the conclusion of each fiscal year, the head of
each Federal agency must report to the SBA on the extent
of participation by SDV’s.
The reports must contain justifications for failure
to meet the annual goals.
The SBA will annually compile and analyze the
reports submitted by the individual agencies and submit
them to the President and to Congress.
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