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Osher at CMU Endowment — Fund For the Future

Fellow members I am pleased to announce that the Board of Directors has approved the creation of a new Endowment Fund to help secure our future. You are probably wondering why and why now? We have been fortunate that over the years that the revenue from the generous Osher Foundation Endowment has helped a good portion of our annual budget. Post-Covid, with our decline in membership and higher inflation, our gap between revenue and expenses is increasing. Our mission is to keep this program vibrant and affordable for all. Earnings from this $1 million Endowment will go a long way towards helping us fulfill this goal. Thank you for your support!

Sankar Seetharama
President
Osher at CMU Board of Directors

Frequently Asked Questions

Please take a moment to read through our FAQ to learn more about this endeavor!

Why is the goal of $1M suggested as the goal?

The Board views $1M as a minimum endowment goal. A lesser amount will not generate sufficient revenues to make an impact into the future.

What is our timing? How quickly are we trying to do this?

Since revenue will not be available to support operations until the $1M goal is reached, we would like to fully fund the endowment as soon as possible.

Who is going to administer the endowment fund?

An investment management company will manage the fund as they do our current financial assets.

Once you reach the $1M, will additional contributions be necessary?

Since the $1M goal is a minimum, contributions will always be welcomed into the endowment.

Can we get more money from the Osher Foundation?

No. The Osher Foundation has told us that they are not doing any additional funding.

How much do you expect the annual income to be from the endowment?

Based on the amount generated annually by the existing $2M endowment, we estimate that income from a $1M endowment will be approximately $50,000 annually.

If there is an emergency, can this money be accessed?

No. The endowment principal is restricted to provide income on an annual basis. A separate emergency fund is already in place for the organization.

Is Osher at CMU going to contribute to the endowment fund?

The Board has committed an estimated $300K to the endowment fund.

While the balance sheet shows cash and investments of $1.25M, the following commitments exist:

An estimated balance owed to CMU for the 4.0 Project of $300K;
Ongoing operations require $250K; and,
The Board has determined that $400K needs to be set aside for operating deficits, un-budgeted expenses, and emergency expenses.

How are we controlling our expenses?

We implemented several actions. Key examples include:

Staff reductions and frozen salaries;
Elimination of the printed catalog;
Transfer of other communications to digital format; and,
Exit from an expensive copier lease.

Why should I give?

Establishing an endowment will provide revenues to support future operations, and keep the program as affordable as possible.

How can I contribute?

Cash or check payable to Osher at CMU should be sent to the office with a note/memo of Endowment Donation.

Credit card payments may be made online at the Osher at CMU website. Login to the registration website, and click on the blue "Donate to Our Endowment Fund" button! Please be sure to choose “Endowment Fund” as the donation type when making online donations.

Contributions are tax deductible.

How can I contribute?

Cash or check payable to Osher at CMU should be sent to the office with a note/memo of Endowment Donation.

Contributions are tax deductible.

Non-Member Donations

If you would like to make a donation and you are not a current member of Osher at CMU, please call the Osher office at 412-268-7489.