Hello Wisco Alumni and Friends
What is an endowment?
A financial endowment is essentially a large savings account that generates revenue from investments. Endowments through the Union generally make about 5% of themselves annually, meaning that if we are eventually able to meet our total fundraising goal of $4 million, the Team would obtain the annual budget of $200,000. Because we will only spend the endowment’s annual revenue, the account will never shrink, ensuring the financial independence and stability of the Team long into the future.
“I came to Wisconsin not knowing really anyone, and I’ve found my people here with the Team. The leadership of my teammates, especially the upperclassmen, has helped me become a better person and a better sailor just by being around them. I’ve grown a ton since my first days with the Team, and I attribute that to the people I’ve worked with. My experiences here are ones that I cherish more than I can say.” -Mary Daniels, ‘24
Why do we need an endowment?
Currently, the Team relies on donations from alumni and friends to survive. Without the annual generosity of donors, the Team would be unable to function as it does today. Donations to our annual letter campaign, and to our annual nationals fundraiser are the main reasons we can afford to travel and compete at all. This financial mode of operation does not guarantee us success or stability into the long term future. An endowment would solve this problem and grant us financial independence and long term stability.
Additionally, the Team today falls behind fellow teams in the ICSA in terms of finances and resources. Most of the teams we compete against are supported by their university through varsity athletics programs that provide them with professional full time coaching, free and low stress travel to events, spring break training trips, and much more. Without these resources, Wisconsin is at a large competitive disadvantage compared to other teams. A $4 million endowment will enable the Team to provide these resources and narrow the gap, advancing us to our next level in competition.
Moreover, between team dues, travel expenses, and spring break, the average team member spends about $1000 to be a competitive member of the Team each year. This financial barrier prevents many college students from ever considering competitive sailing as an option during their college experience. An endowment will allow the Team to make this financial burden virtually non-existent, and allow less financially privileged students access to the sport.
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“At the end of my freshman year I became very sick. In the middle of Covid, in a city away from home, finding medical support was extremely difficult, and doing it alone felt even more overwhelming. However, this team showed me that even during the off season, even off the water, I am never alone. Through my 12 week intensive medical testing, each member of the team showed their support for me personally, from buying me groceries to driving me to the ER in the wee hours of the morning. Aside from wanting to sail, the team motivated me to take care of myself and become healthy for myself. I truly don’t know if I would be where I am without the love and support the team has shown me on a personal level.” -Nicole Giuliani, ‘24
A $4 million endowment would more than double our annual budget. Here are some of the exciting changes this will allow the Team to implement...
Professional full time coaching
In our current financial state, the Team can only afford to have coaching at practice half of the time. Additionally, our current coach is not a full time employee and his resources are limited to his availability during practice time only. An endowment would allow us to hire a professional college sailing coach as a full time employee with both a competitive salary and university benefits. As a full time employee, our coach will provide team members with high level coaching at every practice, at competitive regattas, and at on land practices and chalk talks.
Safer, stress free, and affordable travel
For years, the Team has traveled to events in UW fleet vehicles. Often, team members are driving 15+ hours to regattas and through the middle of the night. Despite this being dangerous, it does not allow team members to be well rested and energized the morning of competition and contributes to the aforementioned gap between us and other teams in the ICSA. Team members additionally pay hundreds of dollars annually in travel dues, hotel rooms, and food. An endowment will allow the Team to provide members with flights to events, housing, and food.
Spring break
Every year, the Team partially funds a training trip during our spring break. The trip includes 40 hours of intense competitive sailing and is a huge opportunity for sailors to grow. Team members pay on average $500-600 to attend this trip each year. The Team will cover these expenses for team members with the help of an endowment.
Nationals
For the college sailing national championships, the Team launches a large fundraising campaign annually to allow sailors to travel to and compete in the event. The endowment will allow the Team to fund these events internally, and alleviate the financial burden from our generous donors.
Fleet turnover
In order to practice and compete at the highest level, it is critical that team members are able to practice on high quality boats that are similar to the boats they will sail in competition. The endowment will allow the team to purchase a new fleet of boats about every 4-5 years.