USA Volleyball Foundation
Mission Statement
The vision of the USA Volleyball Foundation is to fulfill the mission of USA Volleyball. The goal of the USA Volleyball Foundation is to develop a long-term endowment, to protect the original investment principal, and grow the assets to fund USA Volleyball programs and operating expenses.
After the 1984 Olympics in Los Angeles, the LAOOC gave the United States Volleyball Association $1,280,000 out of the net profits from the Games. The USVBA Board designated these monies as a restricted asset to be invested for the long term without ever formally identifying the funds as a permanent endowment. In the mid-1990's, financial difficulties of the organization required the USVBA to borrow against the restricted funds to finance operating expenses. Subsequently, the USVBA Budget Committee and Board revised budgetary and investment planning and practices of the organization to reduce and gradually eliminate the organization's dependency on these funds as a source of loan collateral. In addition, a plan was instituted to restore the value of the portion of the funds which had been consumed and, moreover, to invest additional funds for the long term. These goals were achieved.
For a number of reasons, the USA Volleyball Foundation was established as a "support organization" for USA Volleyball, the USA Volleyball Education Foundation, and the Regional Volleyball Associations of USA Volleyball. A support organization is a type of charity created under the Internal Revenue Code to support specifically identified charities, the beneficiaries of those other charities, and/or the purposes of those other charities. In 2005, USA Volleyball transferred the $1,280,000 LAOOC funds to the Foundation to serve as the beginnings of a permanent endowment.
The development goals of the USA Volleyball Foundation and USA Volleyball are distinct and clear. USA Volleyball would endeavor to obtain donations of (i) money for specific programs, events, purposes, and teams, and (ii) products such as uniforms, shoes, balls, equipment, and the like. The USA Volleyball Foundation would endeavor to obtain donations of financial assets (money, stock, life insurance, etc.) to add to the permanent funds under its control for the benefit and purposes of USA Volleyball. The clarity of these distinct development goals should facilitate development programs for both organizations. The USA Volleyball Foundation is devoted to supporting and enhancing the purposes, programs, and beneficiaries of USA Volleyball through long-term investment and development.
USA Volleyball Foundation shall have the responsibility for:
A. Asset Protection
B. Long Term Investment
C. Development Opportunities
D. Ensure Compliance with USA Volleyball Policies and Procedures
Through prudent management of the USA Volleyball Foundation's assets, the goal is to protect the original principal, develop a long-term investment endowment, and along with additional funds from income and appreciation, fulfill the mission of USA Volleyball.
USA Volleyball Foundation Educational Grants
The USA Volleyball Foundation will accept grant applications from organizations and individuals for volleyball educational projects benefiting groups not individuals. Preference will be extended but not limited to non-profit organizations. At the present time grants are limited to a maximum of $5,000 annually.
