AFYHS YORKTOWN ALUMNI CREW EQUIPMENT FUND

ENDOWMENT POLICY

(Rev. 5/8/2007)

PURPOSE

The purpose of the AFYHS Yorktown Alumni Crew Equipment Endowment is to provide funding for the purchase of equipment specifically in support of competitive high school rowing at Yorktown High School. Funds for the endowment will not be used to provide scholarship or other financial incentives for either athletes or staff, nor will they be used to help cover operating costs, travel expenses, repairs or other incidentals.

The endowment is managed by the Alumni & Friends of Yorktown High School, Inc. for the sole benefit of Yorktown rowing program, for so long as that activity is continued at Yorktown High School. Should a portion of the rowing program at Yorktown High School cease, the endowment will remain the benefice of the remainder of the program. Should the entire rowing program at Yorktown High School cease, the endowment will then be used to support the rowing program as a varsity team in accordance with the above-stated purpose.

The type of equipment purchased using money derived from this endowment will be at the discretion of the Yorktown High School faculty advisor, in consultation and with the approval of the Yorktown Crew coaches. Should rowing become a varsity sport, purchases shall remain at the discretion of the coaching staff in a procedure to be outlined and amended to this document by the incumbent officers of the Yorktown Crew with the approval of the High School's Athletic Director or successor position of comparable responsibility.

Created: 2001

Contributions to Date:    ~$2,500

Cost to Endow a Seat: ~$2,250

Cost of New 8 (5 year cycle, @ 6%, sales proceeds applied to new purchase at 1996 prices):    ~$17,500