The WMRC Endowment had another good year, increasing from ~$34,000 at the end of 2017 to ~$38,000 at the end of 2018. Thanks to our all-star roster of donors, we received over $6,000 in endowment donations which was the primary driver of the increase in our endowment balance. Slightly offsetting these contributions, the endowment lost 7.6% or ~$2,000. This was a difficult year (and in particular a difficult fourth quarter) for our investments, but we’re still confident that long-term returns will be positive. In fact, on a life-to-date basis since April 2014, we’re still up more than ~$3,000 from the amount we’ve invested over the years.
The majority of the donations during the year were a result of the 2017 50/50 Campaign. The 2017 50/50 Campaign was another successful campaign and raised over ~$6,000 for the Endowment, approximately half of which was donated during calendar year 2018.
Ultimately, we expect the WMRC Endowment will be able to distribute 5% annually to support Tribe Rowing. Based on our current balance of ~$38,000, the Endowment would distribute approximately $1,900 per year. That could buy us six new concept II oars, three and a half new cox boxes, or 19 new sets of foot stretchers with shoes! If you would like to contribute to the Endowment, donate online today!