Forever Endowment Introduced

HomeForever Endowment Introduced

Forever Endowment Introduced

Categories: Blog, Other

“Like our vision for your team, we want to make sustainable funding a top priority for our Foundation.”
Randy Moeller; MidwayUSA Foundation Executive Director

We recently announced our plans for the MidwayUSA Foundation Forever Endowment, an endowment that will ensure the functions of the Foundation for years and years to come.  Our goal is to reach $30 million in 5 years and we have a plan to do so.  That plan was created over many months of planning with our Board of Directors, to include Larry and Brenda Potterfield, Foundation staff and our external Chief Investment Officer, Goldman Sachs.  Upon reaching our goal, we’ll draw 5% each year, to pay for our operations.  To reach this goal of $30 million, we will use a combination of 3 funding sources.

Annual Potterfield Family Donations  |  Investments Growth  |  Annual 1% Contribution from all endowments [.25% quarterly]

Since inception, Larry and Brenda Potterfield have made annual donations to cover 100% of our operating expenses, as well as, every donation to fund our matching program.  Their generosity and commitment to youth shooting sports will continue but we must plan for a time when we will not receive those contributions.  In addition to their years of funding, they have also committed to give $3.4 million, each year, to the MidwayUSA Foundation Forever Endowment.  There is no question that Larry and Brenda Potterfield believe in the mission of the MidwayUSA Foundation. Growth through our investments is another way we hope to grow our Forever Endowment.  While we know this is market driven, Goldman Sachs has proven they can increase our endowments through their investment strategy, helping us add 12% in 2017.  Finally, an annual 1% contribution from all endowments will be added to the MidwayUSA Foundation Forever Endowment.  To ensure minimal impact on each endowment, we’ll only reallocate .25% each quarter.  Our Board of Directors has passed a motion to begin that allocation this year and the first contribution should take place soon, as we just closed the first quarter of 2018.   We encourage you to visit our Forever Endowment page for more information.  There you’ll find some FAQs and a link to webinars hosted by our Executive Director, Randy Moeller.  The Forever Endowment is another way we’re changing the future of youth shooting sports.