The market value of Virginia Tech Foundation Men's Rugby Endowment fund currently stands at:
About the Endowment Fund:
Virginia Tech Men's rugby has an Endowment Fund within the Virginia Tech Foundation Inc. Our initial goal was to reach the minimum required of $25,000 within three years - we achieved this goal in a little over 12 months. Now the 25K minimum has been reached, each quarter there will be a payment made to Virginia Tech Men's rugby from the Virginia Tech Foundation.
Rugby at Virginia Tech has gone as far as it can go as a standard Club Sport. We need paid coaches, a recruiting budget and many other things that can attract the best High School rugby players from across the country and abroad. The only way to do that is to let money do the talking and invest in our schools investment fund - the Virginia Tech Foundation.
Our stated goal has got to be to get the Endowment fund to $100,000. At that stage, not only only will we be able to offer more and and larger scholarships, but we will be in a position to talk to the school about the status of the team. By investing in the Virginia Tech Foundation, the team is raising its status on campus and with the administration.
The Virginia Tech Foundation endowment performance has been in the top five in the nation among institutions of higher education. So these funds are being managed extraordinarily well. By the end of 2014 we reached our target of over 50K and were able to start awarding scholarships.
Please think about leaving a lasting legacy with your rugby team today.
About the Virginia Tech Foundation:
Virginia Tech Foundation, Inc. is a 501(c)(3) nonprofit nonstock corporation that receives, manages, and disburses private gifts in support of Virginia Polytechnic Institute and State University. Donations received by the Foundation are credited to the account designated in the donation and the money is pooled in a large investment account that is aggressively managed to provide income and funding for the University. The endowment accounts own "stock" in the Foundation much like a mutual fund. When donations are accepted, they purchase units of the Foundation Account at the current market value of the Foundation's investments. Earnings by the Foundation are then provided to each account like a Dividend to be used as specified by each endowment agreement.
Donations made to the Endowment are made directly to the Virginia Tech Foundation and are therefore tax deductible. The Tax ID number for Virginia Tech Foundation, Inc. is 540721690.