Word: rheault
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...Rheault, a Lampoon trustee for the past 20 years, recalls that when the three 'Poonsters made their offer, the Board of Trustees voiced skepticism about the project. "We figured it couldn't hurt, and then two or three years later the money started flowing in," he says, noting that the Harvard organization has received particularly large royalties--computed on a percentage basis--in recent years because of the success of the National Lampoon-produced movie Animal House...
...Animal House was wonderful while it lasted, and we got a big chunk of that, "Rheault says. He expresses concern, however, for the continued profitability of the organization, noting "we have some severe doubts about how long the royalties we get from the National Lampoon will continue Humor magazines don't go on forever...
...Rheault says the National Lampoon royalties have dwindled considerably in the last few years, and are now "less than half" of what the Harvard organization received in the heyday of the Animal House period...
...Lampoon also makes money from its parodies of popular magazines like Newsweek and People; according to Rheault, a spoof of the Tolkien Ring trilogy, Bored of the Rings, still generates large royalties almost 15 years after it came out. In addition, the Lampoon has a separate endowment, administered by the group's board of trustees, which in 1981 declared income of almost $20,000 and assets of nearly $200,000. Karlock notes, however, that the Lampoon incurs considerable expense in subsidizing the regular issues of the magazine, as well as maintaining its nearly three-quarters-of-a-century-old building...
...avoid losing this status, the trustees of the Lampoon met in 1976 with President Bok to discuss contributing funds to the University. That year, the Lampoon gave $60,000 as "an outright gift," Rheault says. Although legally the University can do whatever it wants with the money. Epps has faithfully followed the Lampoon's suggestions regarding who should receive grants evaluating proposals received from the Houses on the basis of their "artistic and cultural" merit...