What is the SEDS Endowment?
The SEDS Endowment fund are dedicated donations which support the operations and annual operating expenses of the organization. Endowment donations are controlled by an independent Trust of industry leaders, professionals, and alumni. These funds are used strictly as the principal for investments, and only the interest from these investments is used for operations, providing long term stability for the organization.
What is the money for?
Endowment funds provide support for the following areas of SEDS-USA:
- Funding for national projects: administration, prizes for competitions, start-up monies, etc
- Starting student teams: seeding teams to compete in challenges and projects
- Scholarships: funding for outstanding high school students and college students for their work in promoting and furthering the exploration and development of space
- Publicity: printing posters, fliers, and making other promotional items for booths at conferences and expansion mailings
- Publications: Providing resources for printing and producing of newsletters and other status updates.
- Travel fund: supporting students in travel and lodging to conferences, namely first-time conference attendees and chapter representatives and presidents
Why the Endowment is critical:
The money for 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 facilitates 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 Grants, and, for the SEDS National Conference SpaceVision, from the conference organizers if money is left over. 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 would benefit greatly from a yearly cashflow.
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 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.
If you would like to contribute, please contact firstname.lastname@example.org today!
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 Board of Directors 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?
SEDS is recognized by the IRS as a not-for-profit organization under section 501(c)(3) of the Internal Revenue Code.