An endowment gift is one of the most powerful gifts a donor can make to the athletics program. Endowed funds provide a lasting source of support for Virginia Athletics. Gifts can be made to establish endowed scholarship funds or sport-specific operational funds to assist with annual budgetary needs.
When a gift is made to the endowment, the Foundation invests it with the University of Virginia Investment Management Company (UVIMCO) for long-term growth. The earnings generated by the investment are used to support the scholarship or operational needs in the area that you have chosen to endow.
Anyone can make a gift of any size to the endowment. At a time when scholarship and operational costs are dramatically escalating, the growth of the Virginia Athletics Foundation endowment is critical if Virginia Athletics is to continue its commitment to a broad-based and successful athletics program.
On an annual basis, approximately five percent of the endowment value is distributed for scholarship support and operational support as designated by the donor. In 2009-10, the endowment supported 21% of the total scholarship expense, with the remainder being supported by annual giving. An endowment of approximately $275 million is needed to fully fund the entire scholarship expense.
Beginning last year, donors making an endowment gift will receive annual campaign credit for gifts designated for the endowment at the minimum level of $50,000.
Scholarship Endowments
The Foundation is able to fund the 316.6 athletic scholarships allowed by the NCAA each year, but only a fraction of those are funded by the endowment. The majority of the scholarship funds are raised each year as part of the annual campaign.The goal is to endow all of the scholarships in order to rely less on the annual campaign. This would allow the annual giving funds to be utilized on other strategic initiatives to benefit the student-athletes and improve the overall financial stability of the athletics department.
Gifts to establish endowed scholarships are invested and an annual distribution is used to provide funding for the designated scholarship recipient.
Naming Opportunites for Scholarship Endowments
Operational Endowments
Fielding a winning team requires more than enrolling talented student-athletes. Each team needs talented coaches, effective recruiting, uniforms and equipment, athletic training, travel and meals for away games; and each sees a rise in cost each year.
Like an endowed scholarship, an operational endowment provides an ongoing source of financial support for the designated team. Gifts to an operational endowment are invested and an annual distribution is used to assist in the funding of the designated team’s budget.
Operational endowments can bear the name of the donor, or they can be named in honor or memory of another.
Operational endowments totaling $2,408,676 have been established by donors to benefit the swimming and diving, wrestling, men’s lacrosse and volleyball programs. In addition, the Foundation has directed funds totaling $1,097,707 to establish operating endowments in support of all sports programs.
Naming Opportunities for Operational Endowments
