USRowing Creates Foundation to Assist Funding

USRowing has announced the formation of the USRowing Foundation.

“The USRowing Foundation will be a separate 501c3 organization from the National Governing Body but will work shoulder-to-shoulder with USRowing to provide funding for our priorities and initiatives,” said USRowing Chief Executive Officer Amanda Kraus. “We have an incredible group that has signed on and we look forward to adding additional members as the Foundation becomes more established.”

The foundation, chaired by F. William McNabb, former chairman and chief executive officer of Vanguard, will enable USRowing to raise funds to complement other funding sources and will bring individuals closer to the organization.

“USRowing is at a critical inflection point, where long-term and sustainable funding must be secured to help the organization and the athletes that we serve reach their full potential,” said USRowing Board Chair Nobuhisa Ishizuka. “USRowing and the USRowing Foundation will follow the model of other successful National Governing Bodies, with the Foundation under the same umbrella as the NGB.”

There are currently 18 USRowing Foundation members, representing a wide range of professional expertise and rowing connections.

“Our intent is for this group to represent a diverse group of perspectives and geographies, which reflect the immense reach that our sport has in this country,” said USRowing Foundation Chair Bill McNabb. “This group of committed and creative individuals will lead the way to changing how we support and fund our most important initiatives and will ensure the long-term financial stability of the organization.”