Here, as recalled by Marshall Steel is the story.

There are different classifications of Foundations according to the IRS, including public and private. When Indian Village and Navajo were transferred from the Monterey Peninsula Foundation to the Del Monte Forest Foundation (DMFF, a private Foundation), there was an obvious need to fund maintenance requirements and possible further acquisitions. Marshall Steel, Jr., then president of the DMFF, looked up the regulations applicable to private Foundations and discovered it was permissible to raise money subject to approval of the IRS; in August their verbal telephone OK was received with the provision that funding be done within a period of four to five years. Written confirmation was to follow.

Prior to Thanksgiving weekend of the same year a message to call the IRS in Washington, D.C., the following Monday was left on Mr. Steel’s answering machine. The call was made and the message received – that after further review the verbal ruling was rescinded! Informed that some $65,000 had been raised under their former approval, the IRS stated firmly that it would be necessary for all monies raised to be spent by the following December 31, and if not spent, each DMFF Director would be held personally responsible, and suit filed against the individual members of the Board.

Knowing that Sally Hermann (Mrs. Grover) had planned to will a parcel adjoining her property to the DMFF, Mr. Steel met with her, explained the jam, and must to her surprise begged her to deed the property in question immediately and for $65,000 rather than as a bequest. Mrs. Hermann with her usual grace complied immediately much to the relief of the DMFF Board reaffirming that all’s well that ends well – in spite of the IRS.