NCHSAA Endowed funds exist through contributions from individuals, businesses and other private sources. Contributions are invested and a portion of the interest income generated from these investments is available for use as designated and approved by the NCHSAA Board of Directors.
The NCHSAA Endowed Funds were established, respectively, in 1991 and 1996. The General Endowment's stated purpose at inception was to preserve and create opportunities for student-athletes statewide participating in athletic programs at NCHSAA member high schools and to allow the Association to maintain quality programs and services for its member high schools.
The Hall of Fame Endowment was created to preserve, recognize and honor school administrators who have given years of time, experience, passion for sports, and mentoring to the young athletes they worked with when actively coaching and teaching. Recognition is given at an annual Hall of Fame Banquet in the spring as well as special recognition at a collegiate game in the fall.
Initially, the intent of the General Endowment was to provide funds for the NCHSAA to use to underwrite special events, championship events and other programs and services for member schools if funds were not available through corporate support.
In light of a healthy corporate program, the Board initiated distribution of funds in 2000-01 to all member schools from interest income generated. Reimbursements were calculated based on the number of student athletes at each respective school. Between 2000-01 and 2007-08, a total of $670,000 was distributed accordingly to NCHSAA member schools.
Interest income uses have varied. Between 1994-95 and 1998-99, a total of $215,000 was approved by the Board to underwrite Olympic sports championship events. The funds were utilized to offset expenses related to championship events for volleyball, men's and women's tennis, men's and women's basketball, track & field, swimming, football, wrestling, men's and women's golf as well as a non-sports event, the Hall of Fame Banquet (Note: The Hall of Fame Endowed Fund was established in 1996 and therefore, not yet at a point to generate adequate funding for the event). In addition, in 2007-08, due to loss of funding in the Winston-Salem community, slightly over $45,000 was designated to cover football-related expenses.
More recently, through campaign efforts, numerous scholarships have been established to benefit young men and women annually as they continue their education beyond the secondary level. Since 2005, almost $150,000 in scholarships and cash awards have been presented to deserving student-athletes or coaches. Two cash award programs were established to recognize outstanding coaches, the Toby Webb Coach of the Year Award and the Pat Gainey Coach Award. Since their inceptions, $44,000 has been awarded.
Between 2007-08 and 2009-10, the NCHSAA undertook a project to offer AED (automated external defibrillator) units to member schools in need. Over 100 units were placed as a result of the NCHSAA AED Placement Project at a cost of about $150,000 – funded by Board designated funds from the NCHSAA Endowment Fund.
The NCHSAA Board of Directors revised some policies related to distribution of money several years ago to return even more funds to the membership, including 50% of the income from interest earned from the General Endowed Fund and a percentage of the one-dollar surcharge on playoff tickets. That has resulted, since 2011-12, in more than $1.2 million being returned directly to NCHSAA member schools for their use.
In all, $2,447.791.11 has been utilized since 1994 for distribution of funds to member schools, offsetting costs of Olympic playoff events and special events, student scholarships and other uses.
In addition, schools have been allowed to play an Endowment Game since 1993 in any revenue-producing sport, with 25% of the money from those games restricted to the fund. This means that schools have benefited through their participation and have shared in over $9 million dollars!
The Endowment has directly benefited the NCHSAA and its member schools in a variety of ways.