In May 2018 CUF established the Carleton Ultimate Endowment (“CUE) in an effort to ensure the long-term vitality of Carleton College’s Ultimate Frisbee program. CUE is the first college ultimate fund with a mission to support both Men’s and Women’s teams equally. As the endowment grows, CUT and Syzygy can expect to receive about 4 to 4.5% of the fund’s value to subsidize the teams’ expenses each year in perpetuity. CUE assets will be invested as a restricted account within the Carleton College endowment portfolio.
Growing the endowment is a long-term project, but to get off to a strong start in 2018, we are excited to announce the Carleton Ultimate Endowment Kickoff Campaign! The CUF Board has allocated $25,000 from cash reserves to seed the endowment. Current and former Board members have pledged an additional $30,000 over the next 4 years.
To further kick-start CUE’s growth, we are excited to announce a $10,000 “challenge gift” from a CUT alum’s family! The challenge formula is CUE will receive a $250 match for each donor who donates $250 or more to the endowment fund before 12/31/2018. We need at least 40 Friends of Carleton Ultimate to support the endowment this year to release the full value of this generous gift.
To help build the endowment over the long-term, CUF will allocate 25% of its annual budget to CUE. The 2018-2019 fiscal year budget is $40,000, so CUF will add $10,000 to CUE by 6/30/2019. The CUF Board plans to allocate 70% of the annual budget directly to CUT and Syzygy, so it is critical for the current teams that we continue to receive your regular annual donations.