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Other USRowing Grants include money designated by donors for
specific boats at the World Senior and Under 23 Championships. In 2015
these grants totaled $293,954.

Other Grants for 2015 include money designated for the Frank Shields
Fellowships totaling $7,500.

Marketing and Administrative Expenses include all direct and indirect
costs of marketing, our full and part time administrative staff and
TREASURER'S REPORT supplies and support necessary to carry out the operations of the
National Rowing Foundation. Our marketing and administrative costs
were $342,422 in 2015.
Sources of Funds
The NRF accepts both restricted and
unrestricted/designated gifts from our donors. It
is our policy to use the unrestricted annual gifts, gifts
to the National Team, and endowment income to support our
National Teams. Gifts that are restricted are used in the manner
designated by the donor.

Our 2015 audited results show total contributions and endowment
distribution of $2,228,668. Gifts totaled $2,032,066 of which $89,816
was designated by our donors for addition to our endowment. In 2015,
our endowment funds distribution added $196,602 of additional funds.

Uses of Funds

Senior National Team Grants are paid to USRowing or directly to
vendors of the National Team for the direct expenses related to National
Team development, training and competition. Grants to the Senior
National Team are made from the combination of unrestricted donations
to the NRF, designated donations specifically earmarked for the Senior
National Team and donations designated to particular National Team
Boats. Total grants to support the Senior National Team were $1,172,000
in 2015.

Junior National Team Grants are paid to USRowing or directly to
vendors of the National Team for the direct expenses related to National
Team development, training and competition. Expenses of the Junior
National Team are funded by designated gifts to the NRF. Total grants
to support the Junior National Team were $100,000 in 2015.

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