Will,
Thanks for sending out this notice; it is important that the former members of the KCWF committee be aware of the future of the fund they help start.
As Will stated, at the February 5 meeting of the board of USA Wrestling-Kansas, the subject of the dormant committee was discussed. With the resignation of Sean McCarthy, and the lack of anyone stepping forward to take the very active role that Sean had maintained, it was decided to redesign the focus of the fund. The following are the key points agreed by the board:
There is clear interest in maintaining an endowed fund for the benefit of college wrestling in the state.
The current funds in the KCWF account will continue to be held for the purpose of endowing Kansas colleges that provide wrestling.
The KWCA/College director, who is a member of the board of USAW-Kansas, will create a committee for the purpose of
Promoting the endowed fund and soliciting contributions
Soliciting feedback from Kansas colleges on an annual basis on how they are benefiting wrestling in Kansas
Recommending grant amounts to the USAW-Kansas board at the annual budget meeting
USAW-Kansas has a long history of providing significant funding to Kansas colleges and universities. This tradition began decades before the start of the KCWF, and the board expects to continue to budget annual grants from general funds. Starting in the 2017-18 budget year, this amount will be supplemented by annual distributions from the college endowment fund (KCWF fund). The annual distribution will be equal to 5% of the balance in the fund at the end of the fiscal year. The hope is that this will allow the endowed fund to grow, providing increasing grants in future years.
Finally, in case anyone is interested, the board decided that the amount which had been budgeted to cover the costs of the KCWF for the current year would be deposited into the account with the other endowed funds. This $3500 grant will benefit college wrestling for years to come, as will the other balances currently in the fund along with all new contributions.
If anyone has any questions, concerns or suggestions, please let me know. The current KWCA/College Director is Scott Edwards, whom I have copied with this email.
Mike Juby
mikejuby@usawks.com
www.usawks.com
