Monday, November 5, 2007
47-1

Successful Development and Use of An Endowment Fund for a Branch Station.

Steven Petrie, PO Box 370, Oregon State University, Columbia Basin Ag Res Ctr., Pendleton, OR 97801

The Oregon State University Columbia Basin Agricultural Research Center (CBARC) consists of two separate units, the Sherman Station and the Pendleton Station, located 190 km apart. The Sherman Station serves the low rainfall region (< 300 mm) while the Pendleton Station serves the intermediate rainfall region (300 – 450 mm). The Sherman Station was threatened with closure in the early 1990's during a series of budget crises in state government brought about by ballot measures that limited property taxes. In response to the threatened closure, local growers banded together and met with the OSU President to express their support for the station. The growers volunteered to develop an endowment fund to support the station. They solicited donations from local grower co-operatives, input industries, and growers and raised $150,000 within a short time and $300,000 in the first five years. Donations then slowed as the threatened closure became less likely. During the first few years most of the earnings were deposited back in the fund to increase the growth of the fund principal. The fund exceeded $500,000 in 2002 and a press release was provided to local media. The Fund received an unsolicited major donation of $325,000 after the press coverage. The current value of the fund exceeds $1 million. All donors are recognized on a donor wall. Funds have been used to purchase two tractors, a grain drill, several smaller items and provide partial funding for a storage building.