HRSFA now has an endowment, or more precisely a small share (a little over $25,000) of Harvard University’s endowment: approximately half of this money came from the proceeds of the last few Vericons, while the remainder came from generous individualdonations and purchases of HRSFA eternal memberships. This chunk of money will produce yearly returns based on the performance of the general endowment: a smaller percentage will be distributed to HRSFA each year, while the remainder will be automatically reinvested in order to produce greater future returns. While the endowment is currently sized to just about pay for the general annual expenses (munchies for SIGs, subsidized outings, etc.), over time this account will grow and will allow HRSFA to do more for its members than ever before.
Thank you to each and every one of you who donated your time, energy, and money to the recent reunion events and fundraising campaign. We are planning a party in honor of the first disbursement from the endowment at which we will unveil the plaque commemorating our donors. Stay tuned for details.1 comment