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- The US Synchronized Swimming Foundation has its roots in the 1984 Los
Angeles Olympic games. Synchronized swimming was granted a $1 million
dollar share of the profits from those games.
- The Board of Directors of United States Synchronized Swimming chose to use
those funds to create a permanent endowment for the Organization and
established the Foundation.
- The Foundation was to be led by independently-elected Trustees, with a mission
to grow the initial endowment in order to ensure long-term financial support of
United States Synchronized Swimming and synchronized swimming in the United
States.
- The Foundation Trustees actively managed the investments and the principal
(corpus) grew. As financial markets became more volatile in the late 1990's, the
Foundation invested the principal with the U.S. Olympic Foundation, to be
managed by its professionals.
- In 2006, the Trustees reported that the corpus of the fund had surpassed $2
million in value, and that the fund had awarded over $1 million in grants since its
inception.
- Each year, the Foundation Board of Trustees receives requests from
organizations (including USSS) for grants to assist with their work in promoting
synchronized swimming.
- The amounts vary from year to year because most of the money distributed
through the grants comes from the Foundation’s earnings, preserving the corpus
of the endowment.
- Grants have been awarded for the following types of programs:
- Grass roots development by and for community recreation departments.
- Coaching Certification Program support for coaches.
- Training for new coaches in a geographic area.
- Publicity and public relations in an area that is trying to develop the sport.
- Training for judges.
- Development of materials for coach, judge, and athlete training programs.
Synchronized Swimming Foundation |
