The WMRC Endowment had another good year, increasing from ~$21,500 at the end of 2016 to ~$34,000 at the end of 2017. Thanks to our all-star roster of donors, we received over $9,000 in endowment donations which was the primary driver of the increase in our endowment balance. In addition to these contributions, the endowment benefited from a return of 18.2%! Not bad for a diversified portfolio of ETFs!
The majority of the donations during the year were a result of the 2016 and 2017 50/50 Campaigns. The 2016 Campaign was a great success, raising ~$10,000 for the Endowment, including ~$4,250 that was received during calendar year 2017. The 2017 50/50 Campaign is still ongoing, but has raised ~$3,000 for the Endowment during 2017. The 2017 50/50 Campaign closes this Friday, 2/16/18, so if you’ve been waiting for your chance to donate, now is the time! Visit the 50/50 Campaign Page for additional information.
Ultimately, we expect the WMRC Endowment will be able to distribute 5% annually to support Tribe Rowing. Based on our current balance of ~$34,000, the Endowment would distribute approximately $1,700 per year. That could buy us five new concept II oars, three new cox boxes, or 17 new sets of foot stretchers with shoes!