Harvard Men's Ultimate Frisbee Club has established an endowment to supplement its budget.
Club teams at Harvard University receive a stipend from both the Undergraduate Council and the Athletics Department, but they rely heavily on player dues and alumni donations to support their overall operating budget. The establishment of this endowment will help fund the Men's Ultimate Frisbee Club's travel schedule.
Harvard graduate and former Frisbee Club captain William Chen said in an e-mailed response to questions that this endowment is the result of the club's fundraising efforts. After the student-governed club launched a fundraising campaign in spring 2013, more than 150 contributors — virtually all of whom were former players — provided the endowment with “somewhere in the $150,000 to $250,000 range.”
“We are awaiting a final report with the figures,” Mr. Chen added. Mr. Chen, along with Charlie Cheever and Arthur Rudolph, organized the endowment's creation.
The Ultimate Frisbee endowment is managed by the Harvard Management Co. as part of the Cambridge, Mass.-based university's $36.4 billion endowment.
Club co-captains Wynn Tucker, Jeremy Nixon and Mark Vandenberg will decide how the club endowment is used.