SEDS-USA Endowment Fund
What is the SEDS Endowment?
The SEDS Endowment will be a sum of money invested in a mutual fund
or other similar portfolio, the interest from which will fund SEDS’ annual
operating expenses. Only the interest from the
endowment will be used: the principal will remain in the endowment, providing
operating funds for SEDS for generations to come. The goal is to raise $300k
by the 30th Anniversary of SEDS in 2011.
What is the money for?
It has been determined that money is needed in the following areas to support SEDS-USA:
- Funding for national projects: administration, prizes for competitions, start-up monies, etc
- Starting student teams: seeding teams to compete in challenges such as the NASA Centennial Challenges
- Travel fund: supporting students in travel and lodging to conferences, namely first-time conference attendees and chapter representatives and presidents
- Scholarships: funding for outstanding high school students and college students for their work in promoting the exploration and development of space
- Publicity: printing posters, flyers, and making other promotional items for booths at conferences and expansion mailings
- Publications: Printing and producing of newsletters and other status updates.
Why the Endowment is critical:
The money for the above activities and programs has in the past often come either from individual chapters
or members. In the case of large projects, fundraising was done specifically for those projects, but seed
money from an endowment fund would facilitate the fundraising process greatly as it is easier to fundraise
once some progress has been made. Travel funding sometimes comes from universities, organizations such as
Space Grant, and, for the SEDS National Conference SpaceVision, from the conference organizers if money is
leftover. Publications currently do not receive any funding, but could be enhanced greatly by funds to
produce and publish them. In general, the national organization is capable of running without an Endowment
Fund, but the board’s ability to support its chapters and members and ability to reach out to the community
is greatly hindered.
Strategy
The success of the endowment fund is therefore dependent upon the generosity and vision of those who support
SEDS and its mission to support the exploration and development of space by engaging the next generation while
still in school. Furthermore, donors will receive recognition on the national website http://seds.org , at the
national SEDS conference SpaceVision, and exposure to many of the brightest and most dedicated students who will
soon be entering the workforce dedicated to the exploration and development of space.
Utilizing the strategy described above, it is hoped to raise the necessary money for the endowment fund from
alumni and companies. This will be done in a large fundraising campaign where this idea is pitched to SEDS
alumni and companies that are likely to contribute to the fund.
Governance
In order to check the amount of money that is used from the fund each year, a budget will be drafted. This budget
will be submitted to the SEDS-USA Board of Trustees and must be approved yearly by three quarters of the trustees.
It will be submitted by the Executive Board to the Board of Trustees by December 12th and the Board of Trustees
has until January 1st to approve or stipulate changes. If, at any other point in time, three quarters of the
SEDS-USA Board of Trustees decides that the mutual fund budget should be changed, then the Vice Chair must
submit a revised budget to the Board of Trustees for review. The budget may be changed only if at least three
quarters of the Board approves. The amount budgeted each year shall never exceed the yearly interest of the
fund minus expenses.
How do I Contribute?
If you would like to make a contribution to the SEDS Endowment, please contact Ryan McLinko (SEDS-USA Vice Chair)
at mclinkor@mit.edu.
SEDS is in the process of being recognized by the IRS as a not-for-profit organization under section 501(c)(3) of the Internal Revenue Code.
Endowment_Fund_Packet.zip
