"FHSU Endowment is the ONLY fund in existence in Kansas to INSURE that funds will be used solely for wrestling and they are earmarked to INSURE that a wrestling program is continuously operating in KS."
I would bet not the "Only" college in Kansas with an endowment. I have seen huge endowments - for example a $2.5 million at Notre Dame dedicated for wrestling it disappeared and went into the athletic general fund/endowment - likes some of these threads.
Here is another college - the first one I looked at and the only one and it is a public institution
https://www.guidestar.org/profile/48-0926092NEOSHO COMMUNITY COLLEGE FOUNDATION ENDOWMENT
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www.NEOSHO.EDUMISSION STATEMENT
THE NEOSHO COUNTY COMMUNITY COLLEGE FOUNDATION CREATES AND FOSTERS TRUSTWORTHY COMMUNITY PARTNERSHIPS THAT SUPPORT AND ADVANCE THE COLLEGE'S MISSION OF PROVIDING QUALITY EDUCATIONAL PROGRAMS, SERVICES, AND ACTIVITIES FOR ITS STUDENTS AND THE COMMUNITY BY MANAGING, SOLICITING AND ADMINISTERING GIFTS OF MONEY AND/OR PROPERTY FOR SCHOLARSHIPS, PROGRAMS, FACILITIES, CAPITAL IMPROVEMENTS AND ENDOWMENT
It is this use of a board position by Alumni of FHSU to send funds to their former college and other programs that can benefit the board, family members, and/or other business associations.
I would encourage you all to read rules and regulations of a 501-c-3 they operate different than for profits - but it was for profits that forced some of the rules to be changed to for profits and non-profits.
Most colleges have some form of an endowment.
