Endowment Campaign

Endowment Campaign Update - February 2008
Virginia Polo is the premier collegiate polo program in the country. While we have the luxury of a great facility and horses, the program does not enjoy the financial security it deserves.

Virginia Polo has a $300,000 annual operating budget. In keeping with its mission of making polo affordable, each student member pays dues of only $1,000 per year, while the actual cost per student is $8,000 per year. The majority of the funds needed to run the program come from annual fund contributions from alumni, parents, grandparents and friends of the program. The University of Virginia does not support Virginia Polo, with the exception of a small amount in student activity fees. When contributions do not meet our budget, the program must use funds from savings.

In the spring of 2005, the Virginia Polo Board voted to conduct an Endowment campaign. The primary purpose of the campaign is having an endowment, the annual income from which will be used to support Virginia Polo's programs and facilities. For instance, the arena roof must be replaced in the near future. A second component of the campaign is to raise funds to build a Student Caretaker Cottage at the Virginia Polo Center which would create a 24/7 presence at the facility. This security is critical because of a large development planned to surround our facility. The goal for the campaign was set at $4 million, which included the cottage endowment. At the Board's spring 2007 meeting, the Endowment goal was raised to $4.6 million to fund a much needed Assistant Manager/Coach position. The entire Board supports the Endowment Campaign conceptually and financially.

As of February 29, 2008 over $2.1 million has been raised. $250,000 has been raised for the cottage and the endowment component stands at over $1,850,000. 47 donors have made a commitment to the campaign, with an average gift of $45,700.

Throughout our 50 + years, all student polo has been subsidized by Virginia Polo supporters. If each family simply contributed their subsidy ($7,000/yr x 4 years = $28,000), we would easily reach our goal.

All donations are tax-deductible and are included towards University donation society levels. Deferred pledges are accepted. Please help us reach our goal to ensure the future of this great program.

If you have any questions, please contact Dick Riemenschneider 703-777-1403 or Shockey Gillet 410-825-3722.

Capital Campaign Pledge Form (pdf)
Stock Donation Instructions (pdf)

Campaign Committee
Sherlock S. Gillet, Jr., Co-Chairman
Richard C. Riemenschneider, Co-Chairman
Daniel W. Colhoun, Jr.
James R. Dunlap
Stephen A. Orthwein
Robert H. Rinehart