Dear Friends of Carleton Ultimate,
The Carleton Ultimate Fund (CUF) requests your donations to help us support CUT and Syzygy as they compete at the highest level of college ultimate. Similar to the College, June 30th is our 2018 fiscal year-end. Your donations to Carleton and CUF provide financial stability and strengthen our community as we strive to build on the Carleton Ultimate legacy!
CUF has taken many steps forward over the past year. Our Board, which had been all CUT alumni, now includes three Syzygy alumnae. The financial support we provide to the teams is split equally by CUT and Syzygy. And, the Carleton Ultimate Endowment Fund was established to build a long-term financial resource.
CUF’s work is possible thanks to the generous donations from the Carleton Ultimate community. Donations in fiscal year 2017 were our best ever at just under $40,000. With one week to go, donations for 2018 are within striking distance of $40,000 and we hope you can help us set a new annual record for total donations.
The CUF Board wants to be transparent in our financial management and has set target allocations for our annual budget. 70% of our budget will go directly to the teams, 25% of the budget will be directed toward the Endowment Fund, and 5% is for “marketing”. Our annual budget will be determined by averaging the total donations received over the past two fiscal years.
So, for the 2018-2019 school year, we have set our budget at $40,000. We will provide direct financial support of $14,000 to both Syzygy and CUT. That total is 12% more than we gave the teams for the past year. We will invest $10,000 into the endowment and $2,000 will be used to collect funds and promote Carleton Ultimate through youth coaching efforts.
Here are a few specifics about the Carleton Ultimate Endowment Fund (CUEF). Established in May, endowment assets will be invested in the Carleton College endowment. CUEF is a restricted fund in the larger Carleton endowment portfolio and the teams will receive an annual grant from the endowment. On average, the endowment distributes 4-4.5% of its value each year to support the college budget.
The CUF Board has made an initial $25,000 contribution to CUEF from our cash reserves which have built up over the past few years. Pledges have been received from alumni and parents for an additional $30,000+. We are planning a fund raising campaign for the endowment to begin this fall.
For now, we still need your donations to CUF. Please consider a contribution today, or better yet, join over 50 of your fellow Friends of Carleton Ultimate who make monthly donations to CUF. If we surpass last year’s $40,000 in total donations by June 30, we will direct all dollars above $40,000 directly to the Endowment Fund.
You can make a one-time gift or set up monthly donations here: https://carletonultimate.org/donate/
Thank you for your generous support of Carleton Ultimate!
~The CUF Board
Brent Nystrom ’92, President
Chris Borden ’84, Treasurer
Rich Price ’90, Secretary
Laura Blaisdell ’97
Alex Evangelides ’11
Miranda Roth Knowles ’04
Emily Muirhead McAdam ’08
Chase Sparling-Beckley ’04
Ted Weldon ’83
PS – Please forward along this appeal to other Friends of Carleton Ultimate you might know that would be interested in giving to the Carleton Ultimate Fund!