The WMRC Endowment continued to grow during the first quarter of 2019, increasing from ~$37,800 at the end of 2018 to ~$43,000 at the end of March 2019. Donors contributed nearly $900 in new Endowment donations this quarter, which is a great start to the year. Investment gains were even more impactful with increases in the market value of our investments adding nearly $4,300 to the Endowment balance. This represents over a 13% return year-to-date, largely the result of recovering some of the losses that occurred at the end of 2018.
Ultimately, we expect the WMRC Endowment will be able to distribute 5% annually to support Tribe Rowing. Based on our current balance of ~$43,000, the Endowment would distribute ~$2,150 per year. That could buy us almost two new Concept2 Model E ergometers, six and a half new Concept2 oars, four new cox boxes, or 21 new sets of foot stretchers with shoes! If you would like to contribute to the Endowment, donate online today!