What is an endowment and how does it work?

A sum of money (called the corpus) is invested along with other endowment funds, as large sums of money make more money in returns. The funds are managed so that there is steady flow in returns of about 4.7%. We are seeking to put $1,000,000 into the State Coordinator endowment which would result in about $47,000. Now, that's not nearly enough to run the entire VCE-MG program, but even partially-funded programs are more likely to be fully funded by Extension and the university. Perhaps, down the road, we may see the amount increased in the endowment so that we are not dependent on any other sources of money.

We "endow" VT's support through our individual efforts and out-of-pocket expenses. Doesn't the state owe us in return at least one salaried faculty position?

In the greater scheme of things, our MG program is relatively unimportant compared to health care, education and transportation. It would be great if Master Gardening was recognized as important enough to be funded by the state. But with the economy of the state and state budgets in question for at least the next decade, it is unwise to consider this as even a remote possibility.

Why is Tech pushing us to do this?

Tech is not pushing us to do this. To say so is totally false. The idea of an endowment was suggested by a Master Gardener who recognized that it would give us power over our program. VMGA took the suggestion to VCE/VT leadership, who were surprised and so pleased that they pledged their support. Tech does have professional fund raisers in their development office, and we intend to take full advantage of their expertise and resources.

Shouldn't VT be paying for this?

VT has never paid for the state MG coordinator position. Diane Relf, former Environmental Horticulture specialist, was successful in her grant proposals to fund the position in the past. Currently, the state coordinator position is funded through a USDA grant (80%) and the Department of Horticulture (20%), the latter being a development only in the last year.

So if the position is currently paid for, why establish an endowment?

Funding for human services is always a target for budget cuts. The endowment ensures that the Master Gardener program will continue independent of budget constraints.

Won't this increase the likelihood that the university will cut funds to the Master Gardener program even farther?

Just the opposite. A funded position shows that the program is popular. University deans and directors are more willing to fund an even partially-funded position. The saying, "Better to bet on a willing horse," is applicable here!

Isn't it a conflict of interest for Dave Close, the current state coordinator, to be involved?

Dave has resources and data that the Coordinator Endowment Committee needs to write grant proposals. It was the committee that asked that Dave be added to the committee. Dave is also involved because the endowment will benefit the Master Gardener program long after he has moved on. Finding ways to support the Master Gardener program is part of his job. The endowment isn't about Dave; it's about the Master Gardener program. As coordinator, Dave is the VCE liaison on the VMGA Board. Dave is also a dues-paying member of VMGA.

Our unit is small and doesn't have a treasury to afford to support the endowment. What's expected from us?

Direct donations will benefit the endowment most, but there are many, many ways to pitch in. Ask a member of the Coordinator Endowment Committee to come talk with your unit. They'd love to visit!

VMGA's Coordinator Endowment

By Pat Reilly
Chair of the Coordinator Endowment Committee

Realizing that the funds for the state MG Coordinator are stable for now, but never a sure thing, the Virginia Master Gardener Association (VMGA) has set out to partially fund that position through an endowment. The endowment, administered by the Virginia Tech Foundation, ensures that there will always be a Master Gardener program in Virginia.

The goal of one million dollars is a sizable one, but with the generosity that exists in the United States, the goal can be reached. VMGA's endowment committee has targeted 3 main groups - Master Gardener units, foundations, and individuals - through which to secure our program.

Master Gardener units are being asked to contribute a minimum of $100 to the endowment. At this writing, at least 21 of the 51 units have voiced support by making a donation. Once 100% is reached, the case can be made to foundations and other granting agencies that there is a unified, strong endeavor in Virginia that is worthy of their philanthropy. If your unit hasn't yet contributed, please help us by initiating this.

Gifts and grants from corporations and foundations is the second source of funds identified by the committee. Through personal visits and written applications, the committee hopes to add larger sums of money to the endowment.

Individuals who have been touched by the VCE-MG program are the third group that the committee hopes will contribute to the endowment. Master Gardeners are the primary individuals who have benefited from teh program, but there are lots of clients who may also be grateful for the existence of teh VCE-MG program. Individuals are asked to pledge "$50 for 5" - in other words, make a $50 donation to the endowment for each of 5 years. A quick calculation indicated that if every VCE-MG were to do this, the endowment would be fully funded.

Another effort in which individuals can participate is through Food Lion purchases. VMGA is registered so that as money is spent on groceries in any Food Lion store, a small percentage of each purchase goes into an account with Food Lion. Quarterly, the grocery chain will donate up to $350, or $1400 a year. Signing up with Food Lion is free and does not obligate the individual to anything. To find out how to sign up for this program, please visit www.VMGA.net for more information.

Hopefully, every VCE-MG understands how important the state coordinator is to the day-to-day as well as long-term workings of our program. By funding this endowment, the program's future is secured. Each VCE-MG is encouraged to contribute what they are able, but also to assist VMGA in identifying businesses or individuals who are appreciative of our service. More information is available from your unit representative to VMGA or at www.VMGA.net.

or

Click HERE for the endowment pledge form.