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.