On 30 September 2023, UWC Stock Weinberg Edward Sutcliffe ONLUS held a Gala event in Venice to launch the UWC Adriatic Endowment, a new legacy project to guarantee scholarships for future generations and ensure long-term financial security for the College.
In contrast to traditional fundraising, donations to the UWC Adriatic Endowment fund are collected together and invested. These investments generate an annual income, which returns to the College to provide scholarships which continue every year, without ever spending the original donation.
During the Gala evening and over the following months, over 50 alumni, parents and friends of UWC Adriatic together established The First UWC Adriatic Endowment Scholarship, which will be awarded every year to refugee or displaced students from the next academic year, in partnership with UNICEF & UNHCR..
Thanks to these and further donations, the UWC Adriatic Endowment Fund currently has a total of two full Endowed scholarships, with a third to arrive before the end of the month. On Tuesday 16 January 2024, the fund was invested by UWC Endowment Management, a company that will manage the investments of UWCIO Endowment as well as many of the 18 UWC Colleges and National Committees. The purpose of the UWC Endowment Management is to maximise collective returns, minimise overheads and ensure responsible governance inline with UWC principles.
This first investment from the Endowment Fund marks the beginning of a long-term strategy to ensure the College’s financial resilience and to guarantee scholarships for the next generations of students in Duino. The short-term target of the Endowment is to raise €5m, equivalent to 10 full perpetual annual scholarships. The long-term ambition for the fund is to guarantee scholarships for 50% of students at Duino, requiring a fund of €50m.
Our thanks to those alumni and friends who have supported the Endowment and to those who are considering supporting. To find out more, please contact us at development@uwcad.it
