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Message from the Board of Directors:

As we complete our second decade of operations, we continue to believe that our support of athletics through our mission is a worthwhile endeavor.  It is good for our community and for its citizens whom we serve, including our leaders of tomorrow in both the public and private sectors.  We hope you share our belief and find our story worthy of support.

Our business is as set forth in our mission:  it is a business we will continue for the long term, providing scholarships and program support.  Endowment building to support our mission is a long-term process.  As we grow, our financial need to support our annual activities is also growing.  Our asset base now exceeds $1.3 million, which suggests an annual endowment distribution of not to exceed $65,000 (five percent).  Current annual revenue support from all sources is about $274,000.  Our annual administrative expense is 3.1% of our asset base, leaving substantially all donated funds available for mission support.  As explained below, our annual program support is limited because our scholarship programs are not fully endowed.  The shortfall is met from annual revenues, which are allocated in part to pay for program and scholarship expense with the balance applied to increasing endowment.  

    The foundation has two primary scholarship activities:

• The funding of a $1,500 scholarship for each graduating senior MAC Scholar Athlete at 27 area high schools, representing a $40,500 annual cost; and
• The Loprinzi Scholarship, which awards annually currently about $20,000 to a number of graduating seniors, primarily to fund a portion of their college freshman year expense.  

The MAC Scholar Athlete expense is not fully endowed.  The Loprinzi Annual Scholarship expense is endowed at minimum levels but that endowment should be increased so as to ultimately fund a portion of the recipients’ annual college expense for four years.  Until these two scholarship expenses are fully endowed the foundation draws upon annual revenue sources.  

Given the foregoing, the foundation’s goal is to increase the endowment to $5 million.  To reach this target, our plan includes:
    
1. Better educating the community that we serve to enhance our potential revenue sources.

2. Leveraging off the history of MAC;

3. Building a planned giving capability; and

4. Retaining experienced investment management.

The Tom Wrightson bequest to our foundation is the pioneer in planned giving.  While we need to focus on our endowment base, planned giving is a logical extension of our total fundraising effort.

As part of our education effort, we hope you will learn more about our business, share our enthusiasm, and help us increase the financial support that we provide in carrying out our mission.  Please contact any member of the board for information on how to make a financial contribution to the foundation.

Thank you.

The Board of Directors

Last Updated: 3/28/2012, 9:41 AM (Lisa Bendt)