Yes, we have an endowment! The ASWU Endowment was created in 2001 as a one-time investment in the Willamette University Endowment Fund after a budget surplus carry-over of $33,000 during 2000-2001 fiscal year. In 2001, ASWU VP of Finance, Andrew Cockrell, encouraged Finance Board to make a fiscally responsible investment of the windfall into the Willamette Endowment in trust for the student body. The Finance Board recommended an initial allocation of $10,000. This investment was to be the first step in a journey of designing the financial stability and sustainability of student activities and organizations at Willamette University. During the 2002-2003 academic year, the Finance Board endorsed the recommendation of VP of Finance, John Turner to invest an additional $10,000 into the Endowment.
The purpose of the ASWU Endowment is simply to empower student organizations and provide a financial reality for the dreams and visions of students at Willamette. The Endowment could finance the purchase of lights and SFX equipment for ASWU sound, help buy the hardware for the WIRE’s move to a low or high power FM station, or fund the construction of a student organization resource room in a new Student Center.
The Endowment is not a process to be laden with red tape and administrative headache. The money is not kept hidden away from students. The Endowment fund is an effort to ensure the longevity of student activities and clubs at Willamette. Furthermore, our motto, “Not onto ourselves alone are we born” will be embodied through the future administration of the Endowment as current students invest in future students.