Endowments » The SARA Endowment
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The Timothy A. Marcovy LAW'77 Coaching Endowment
SARA set up a coaching endowment with CWRU in 2012 as part of the
Alumni Victorious Campaign.
The tremendous alumni generosity allowed SARA to engage the university to create the first-ever endowment fund
for a club sport at CWRU.
The edowment start-up funds (Phase 1) of approximately $35,000 were provided by Pete Whittaker '04, Dan Bachmann '97, Tom Hudak '92,
Doug Rathburn '97, Stacie Ringleb '97 and Mark Schoenenberger '96 in 2011.
After the endowment was approved by the university Board of Trustees in 2012, the fund is now open for additional funding at any gift level.
The SARA coaching endowment fund resides at the university and is managed as part of the wider endowment pool of funds
(in 2014 about $2.1 billion). The fund is managed to grow the principal and disperse 4-6% annually -- with a target of 5%.
Fund values and distributions are calculated each fiscal year end for the university (June 30). It is fund number END534500
with the endowment office.
Based on our agreement with the university,
the annual distributions from this fund are "restricted" and can only be used for coaching related expenses: head coach and/or
assistant coach stipends, coach's travel expenses, coach training. Basically, anything related to defraying costs related to coaching.
The members of SARA suprised long time coach and friend of Case Crew Tim Marcovy by re-naming the endowment after him at the 2016
Alumni Dinner. Over 60 alumni, parents and friends donated to the cause -- pledging or donating over $32,000. You can see the results here:
2016 Marcovy Endowment Gifts. As the pledges
come in and we hand over the funds to the university the endowment will be well over $100,000!
With Phase 1 endowment funding complete, including recent donations to the endowment, the fund currently stands at about $85,000.
Given the university's 5% target payout, the team will receive roughly $4,250/year even if we don't receive any more donations to the endowment!
A nice stipend for a part time coach.
For Phase 2 we are targeting increasing the fund to $200,000, which will generate roughly $10,000 per year in perpetuity.
At $10,000 per year we feel that we will be able to truly attract top coaching talent as a part time position.
If you plan on contributing to this fund please contact the SARA President
or designate your gift to the "Spartan Alumni Rowing Association Coaching Endowment (END534500)" when giving to the university directly.
Since the fund resides at the university and not SARA, it is a great way to give to the team and leverage your company matching program.
Mail checks directly to:
c/o Case Western Reserve University
Adelbert Hall 124
10900 Euclid Ave.
Cleveland, OH 44106-7008
Make the check to "Case Western Reserve University" and designate "Spartan Alumni Rowing Association Coaching Endowment (END534500)" in the memo section or attached note.
Giving to the endowment via the web:
1. Visit the CWRU "Make a Gift" web site here.
2. Click on the "I would like to give to a specific school or area at CWRU".
3. Scroll all of the way to the bottom of the options and select "Other - Please specify in Special Instruction".
4. Then type "Spartan Alumni Rowing Association Coaching Endowment" in the special instructions box.
5. Finally, fill out the donation information per usual.
The Need for Other Endowment Funds
Large, competitive crew programs rely on endowments. Full stop. WashU's full time head coach is completely paid for by an endowment (salary & benefits).
Here is a sample of funds at MIT: HERE. As of Sept 2013
the market value of MIT's various endowments totaled $12 million. Also, the Washington Husky Crew has an endowment over $6 million.
Just for the rowing teams!
Similar sized endowments exist at all of the large rowing schools. At Cal the rowing team gets about $400,000/year from their
various endowments. Endowments are becoming an increasingly
popular vehicle to ensure the longevity of rowing at a university. Endowments represent restricted funds and in order to respect the donors
wishes the university must use the funds for that purpose. Though it occasionally happens, universities are not in the business of upsetting
As our endowments grow, our stature within the university and athletic department will also have to increase. During our lifetime the annual
endowment payouts and annual fund contributions can, and will, rival varsity sports.
A few years ago the Rochester women's crew made the transition from club to varsity. When the club-turned-varsity head coach sat down with the
athletic director to discuss the season's budget, the AD handed him a "varsity" budget less than his "club" budget from the previous year!
Using a program like MIT as a guide, we have some work to do. We will need to develop endowments for:
Please use the links in this Endowment and Planned Giving section of our web site to get more familiar with the concept.
Endowments are the best way to leave a lasting legacy with the team.
When you're ready to make a donation please reach out to us and we can help structure a plan.
Next: The Cost of Excellence