MSA is considering an endowment fund
Dec. 08, 2000
The Missouri Students Association is looking for a way to augment its budget of nearly $1 million.
By forming an endowment fund, MSA would able to make its money go further by putting some of it in an interest-earning account.
The money that would go into the fund may come through a fund-raising campaign.
"My first idea was to take some of the money we had from carryover of the fiscal year and put it away," MSA Oversight Committee Chairman Billy Wegener said. "But we've been working with (the Department of Student Activities), and the idea came up to get the money from a fund-raising campaign."
The idea of an endowment fund was an item on the Lauren Palmer/Billy Wegener presidential campaign slate. Although they were not elected, Wegener continues to develop the concept.
For MSA, fund raising would mainly entail requesting donations from alumni and others who would like to contribute.
"Some people like to contribute to buildings, and others want to contribute to student groups and organizations," Wegener said. "We want to make donating to MSA an option."
MSA President Susan Manuel said MSA plans to do its fund raising through a development officer.
"Every school and college has a development officer who manages fund-raisers and solicits funds from alumni, people who like the university, who have money and like to donate it," Manuel said. "The development officer goes to the donor and shows them the possibilities."
In order to encourage donors to contribute to MSA, Wegener is writing a proposal that outlines MSA's functions.
"We need to get a proposal done so that when we contact potential donors, we have a good explanation of our main goals," Wegener said.
The amount of money MSA will request has not yet been determined.
"The amount we ask for will depend on how we plan to spend it," Manuel said.
Wegener said the money not spent on projects will be put into an interest-earning account.
"We'll invest the money — probably in bonds or something stable and risk-free," Wegener said. "Then every year, we'll use the 6 percent or so interest for MSA. It gives us a good opportunity to go above and beyond what we're doing right now."