The WMRC Endowment made additional progress during the second quarter of 2019, increasing from ~$43,000 at the end of March 2019 to ~$45,000 at the end of June 2019. Donors contributed nearly $1,300 in new Endowment donations this quarter, which combined with ~$700 of investment gains to add 4.7% to the Endowment this quarter. For the YTD period ending the date of this post (8/15/19), the Endowment has returned 13.2%, largely as a result of recovering some of the losses that occurred at the end of 2018.
Ultimately, we expect the WMRC Endowment will be able to distribute 5% annually to support Tribe Rowing. Based on our current balance of ~$45,000, the Endowment would distribute ~$2,250 per year. That could buy us almost four new cox boxes annually! If you would like to contribute to the Endowment, donate online today!