The NUMBALUMS have embarked on a mission to create and fund an endowment to keep NUMB thriving for generations to come! To donate, visit http://go.numbalums.org/pushonfund. Learn more about the endowment in the Q&A below.
What is an endowment?
An endowment is a financial instrument, like a 401K. The big difference is that you only use the interest off your principal. By not touching our underlying principal balance, the NUMBALUMS can maintain a well-invested endowment for perpetuity.
Why are we creating an endowment for NUMB?
Flatly, because maintaining a top-tier marching band is expensive. The endowment will provide stable funding to advance recruitment, instrument replacements, stipends, and much more. These expenses add up, and paying for them out of donations is difficult and, frankly, not sustainable over the long term. An endowment is a reliable, consistent funding source that will only grow.
Does anyone else do this?
Endowments are increasingly common among elite university marching bands such as those at Michigan, Wisconsin, Minnesota, and USC.
Northwestern endowments require at least $100,000 to begin releasing interest; however, that threshold is going up to $250,000 in 2018. We're therefore asking NUMBALUMS to contribute any amount they can—whether that be $5 once or $1,000 annually, which will earn you a spot in the John P. Paynter Director's Circle.
The John P. Paynter what now?
So far, five alumni have stepped up and offered at least $1,000 annually. They are charter members of the John P. Paynter Director's Circle. To recognize these donors' generous contributions, the Circle will be offered exclusive opportunities to interact with NUMB.
Hmm, okay. But if I don't donate a thousand dollars, what do I get?
Primarily, you get the joy of knowing that you are helping sustain the Band for generations to come. As an added benefit, all donors will receive booster membership* in the NUMBALUMS, and the donation can be counted as your annual contribution for the NU Loyal donor society.
I'm convinced! What should I do?
Thank you for helping us to build an endowment to keep NUMB thriving for generations to come! To donate, visit https://www.give-northwestern.org/donate and type "NU Bands Push On Fund" as "My Designation."
If you make a contribution, double your impact! Contact us and let us know the amount; NUMBALUM BJ Mitchell has offered to match donations of trombone alumni up to $500!