The
Virginia Master Gardener Association Endowed Fund Agreement
Update!
This is a
very exciting time for VMGA and for Virginia Master Gardening! We have already
had an anonymous donor make a challenge grant with $50,000! The donor will match all donations made to the fund, up to
$50,000. That is quite a boost and we
haven’t even really started yet! It is also very exciting that, once
again, Virginia is a national forerunner with
this endowment. Ohio, which lost its state leadership to budget cuts, and
Georgia are also establishing endowments. Ohio has endowed its 4-H program
since 1946!
FAQ’s
About the Coordinator Endowment
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. We’d love to visit!
Because
this is a contractual document, it does contain a lot of the legalese most of us
usually avoid. A summary has been prepared to make this easy for you, following
the section titles.
“Introduction
and Source of Gift”
This
contract establishes a partnership between VMGA and Virginia Tech, where VMGA
will raise funds to support the State Coordinator position. The goal is
$1,000,000 by the end of 2007, but the language allows some wiggle room
concerning the amount and the timeframe.
“Background
and Use of Gift”
In
describing the VCE-MG program, we are making it clear to VT what motivated us to
fund this endowment. The mission of Extension is followed by a description of
what we volunteers do as Master Gardeners and what the State Coordinator does
that makes all this possible.
“Matching
Funds and Fund Management”
If
matching funds are available to us, our fund is eligible. We are assured that
this fund will be managed by the Virginia Tech Foundation in accordance to its
policies. We can add to the fund in the future.
“Disposition
of Annual Distributions”
This
section specifies that the money distributed annually will be used for the
salary, benefits, and travel and program expenses associated with the State
Coordinator position. It also specifies that VMGA leadership will be involved on
the interview panel when a new State Coordinator must be hired.
“Disposition
of Funds under Extraordinary Circumstances”
The VT
Foundation looks at each of the parties wishing to establish an endowment to see
if the reason for the endowment will still exist after 100 years. They, like
VMGA, think that there will be VCE-MGs in another 100 years. It is inconceivable
that Master Gardeners would disappear, but should that happen, this paragraph
specifies that the fund should then be used for something similar. The reason
this document is so specific about what the program does and what the State
Coordinator does is that, in the event of “extraordinary circumstances” our
intent will be carried out.
…move
that VMGA enters into the agreement with The Virginia Tech Foundation to
establish the State Master Gardener Coordinator endowment as specified in the
agreement.
On
Saturday, December 11th, the Board of Directors of VMGA voted to
enter into this agreement.
Questions
or comments may be directed to
Kathryn Debnar ,
Coordinator Endowment Committee Chair or to VMGA
President
Betty
Villers. If you have any questions about giving a gift or want
some counseling about a larger gift please contact our representative with the
Foundation and avid Master Gardener
Dawn Lerch
INTRODUCTION AND SOURCE OF GIFT
In order to document the intentions and understanding of the
parties, the Virginia Master Gardener Association, Inc., (the “Donor”), and
the Virginia Tech Foundation, Inc. (the “Foundation”), in support of
Virginia Polytechnic Institute and State University (“Virginia Tech”), for
use of a gift intention of $1,000,000 to be given by members and friends of the
Virginia Master Gardener Association, Inc. on or before December 31, 2007, and
all other contributions directed to the Fund created herein, the Donor and the
Foundation agree as follows:
BACKGROUND AND USE OF GIFT
Recognizing
the continuing need for endowed funds to support the Virginia Cooperative
Extension programs at Virginia Tech, the Donor directs that the above-referenced
gift, along with all other contributions to this Fund, shall be held in an
endowed fund, specifically the Virginia Master Gardener Association Endowed
Fund, (the “Fund”), to provide program support for the Virginia Cooperative
Extension-Master Gardener (“VCE-MG”) program at Virginia Tech.
The Donor has made this commitment to help ensure that the mission of
Virginia Cooperative Extension (“VCE enables people to improve their lives
through an educational process that uses scientific knowledge focused on issues
and needs”), in relationship to the Master Gardeners, is carried on in
perpetuity.
Since
inception in the 1980’s, the VCE Master Gardener program has disseminated the
unbiased, research-based information of the land grant universities in Virginia
toward the VCE mission. Requiring
specialized training, Master Gardeners are dedicated to working
with the community to encourage and promote environmentally sound horticulture
practices through sustainable landscape management educational programs.
Community needs are assessed, programs developed and delivered. Impacts
are reported and programs evaluated. Programs are delivered through
lectures, consultations, field days, demonstration sites and publications, with
Master Gardeners administering all aspects of the programs.
The
position of State Coordinator is critical to focus local VCE-MG volunteer
efforts on relevant issues. The State Coordinator must develop and disseminate
educational materials that serve the changing needs of the units in response to
horticultural and environmental issues and train VCE-MGs throughout the state so
that they can better serve the mission. The State Coordinator is necessary to
provide a unified voice and consistent directives from the state level to
maintain the strength of the collective group. It is the vision of the Virginia
Master Gardener Association Endowment to provide full-time leadership at the
state level in perpetuity.
MATCHING FUNDS AND FUND MANAGEMENT
It is understood and agreed that this Fund’s earnings shall
qualify for such matching funds as may be provided by the Commonwealth of
Virginia, or any other state, and under any applicable public or private
program. This endowed Fund shall be
maintained and managed by the Foundation in accordance with the Foundation’s
endowment management and accounting policies. The Donor and others may make
additional contributions to the Fund over the years.
DISPOSITION OF ANNUAL DISTRIBUTIONS
Annual income distributions from the Fund, as determined by
the Foundation’s endowment policies, shall be used to provide funding support
for the State Master Gardener Coordinator position in the Virginia Cooperative
Extension program within the College of Agriculture and Life Sciences,
using the following guidelines:
1)
Funds will be
used to provide program support for the position of a state coordinator for the
Virginia Master Gardener program, an educational outreach program utilizing
specially-trained volunteers to extend university-based research to the citizens
of the Commonwealth in horticultural and environmental stewardship.
In particular, funds will be used to support salary, benefits, travel and program expenses associated with the position of State
Coordinator of the Virginia Cooperative Extension Master Gardener volunteer
program.
2)
As has been the
practice in the past, VCE leadership will be involved with VMGA leadership on
the interview panel at such times when the state coordinator position is vacant
and the hiring process has commenced.
In the event no funds are used in a given academic year or
there are remaining unused funds, the Donor directs that the unused annual
distributions be returned to the principal of the Fund in order to increase the
corpus.
DISPOSITION OF FUNDS UNDER EXTRAORDINARY CIRCUMSTANCES
In the event the Fund created herein cannot be used for the
purpose intended because the purpose is no longer appropriate, necessary,
practical, or possible, or if for other substantial and lawful reasons the
purpose cannot be accomplished, the Foundation may, in its discretion, and in
consultation with the donor, use the distributions from the Fund for a
substantially similar purpose, or for such other purpose as will foster and
promote the growth, progress, and general welfare of Virginia Tech, as the
Foundation may specify, keeping in mind the original intent of the Donor.
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