HistoryOver the years the Foundation played a very active role in Cycles Research, publishing “Cycles” magazine and books, holding conferences, and much more. After the death of Dewey in 1978, there were a number of other prominent directors of FSC. They contributed such things as publishing of books, creating an internet presence, holding conferences and doing research in various cycles related areas.
In the mid 1990s FSC had financial problems and came to a halt with the arrest of Chairman Martin Armstrong.
All of his personal and business assets as well as all the Foundation for the Study of Cycles assets were taken over by the court. Richard Mogey and others petitioned the court for the return of the Foundation assets. The judge gave them 24 hours to remove the several truckloads of Foundation file cabinets of accounting and research records, printed materials and other assets. They were moved to a storage facility.
The Foundation Board then negotiated with the Market Technicians Association to accept ownership of all these materials and make them available to the public. The MTA rented space in Woodbridge NJ to house the Foundation materials. The Foundation indicated that it was going out of business, however it failed to complete that process with the state of Connecticut and with the IRS to end its 501 (c) 3 status.
Around 2004, the FSC was re-established with a new headquarters in New Mexico. The foundation was run by David Perales with help from Richard Mogey as Research Director and Chief Economist. Richard Mogey and David Perales found that the IRS had not ended the old Foundation for the Study of Cycles 501 (C) 3 status and that Connecticut had not closed out the corporate status. So, the original Foundation for the Study of Cycles was restored to an operating entity. It then sought the return of its former assets then owned by the Market Technicians Association. Sherman McClellan was on the Board of Directors of the MTA at that time and was instrumental in the return of all accounting records and research materials to the Foundation. All the printed materials such as general interest books and magazines were retained by the MTA (it had lost its library in the Twin Towers destruction of 9/11/01) and now are being administered by the Baruch College library in New York City and with a few exceptions are available to members of the MTA and Foundation. All the Cycles magazines that the Foundation published from 1950-1997 were given back to the Foundation in return for digitized copies that the Foundation then created.
Today
Dr Richard Smith has come forward as the Foundation's new leader, established a new board of directors and is bringing the Foundation back to its original mission of cycles research. Richard attended our Virtual WCCC meeting in May and told us about the re-birth of the Foundation and many new activities to get members back involved. Richard's message is: We are the Foundation for the STUDY of Cycles. We’re here to join forces with you and fulfill the mission of the founders of the FSC – to better understand the role that cycles play in our world and our lives.
They have established a new website at
Cycles.org and this website goes into detail of the mission, membership, activities and resources. You can signup and register as a member to participate in the many activities planned. Donations are $99 per year to have full access to the new cloud based cycles scanner application.