We have an Endowment Fund!!
Post date: May 19, 2010 7:43:14 PM
The GTCA is proud to announce that the GT Crew team officially has an Endowment Fund with the GT Foundation.
Let us explain. The Endowment Fund is what rowers, coaches and alumni have been trying to achieve for over 10 years. The establishment of an endowment will allow the team to earn interest on the money they already have and eventually be able to sustain the team on that interest alone. It will take time, of course, but the path has been cleared and we are at the beginning.
$25,000 was necessary in order to establish an endowment fund with the GT Foundation. With your generous contributions to the trailer fund, the GTCA and the team, we have finally reached that lucky number. Now that we have that - we can start to collect interest. With careful planning and management of the endowment, along with continued fundraising we can work to continue to grow that number into something the team can rely on for generations.
The GTCA gave a check for $6,500 to the team at the Spring Picnic. We will continue to donate every year. This money comes from your donations to the GTCA and any fundraising we do during the year. Although we are not actively fundraising right now, you can always make a tax deductible donation directly to the endowment. Additionally, as you know, your membership to the GTCA is a large part of the annual donation provided to the team.
We hope you share in our excitement and plan to help us grow this fund over the next few years. To learn more about the endowment and how to contribute to the fund, please visit our Donate page.