AAJA is a non-profit organization. It relies heavily on charitable contributions. Programs and services have been totally dependent on funding received from foundations or media companies from year to year. Most of AAJA's foundation support are one-time only grants, placing the burden on the organization to continuously look for new or alternative funding or tap into its precious reserves.
Recent economic conditions have posed a significant challenge to the organization's fundraising efforts, with traditional funding sources scaling back on their contributions.
The endowment is needed as a stabilizing force in the organization's future, giving it the ability to weather economic downturns and further consolidation in the industry. Interest from the endowment is projected to help the organization pay for needed programs in those years.
This is not intended to replace fundraising for new initiatives worthy of foundation consideration, nor revenue-generating activities such as the annual convention, which comprises more than 50 percent of its annual budget. It will, however, provide AAJA with a new component -- AAJA investing in itself.
The Goal
The goal for the endowment is to raise $2 Million. The campaign began Fall 2004 and continues today.
Who should support this Endowment?
AAJA looks to all its members, beneficiaries and allies who support the long-term vision of AAJA's mission:
- AAJA board members and chapter board members
- Individual AAJA members
- Industry leaders
- Media companies
- Foundations
- Individuals who support an informed society and see Asian American and Pacific Islanders as part of the American discourse
How will the Endowment be used?
The $2M endowment fund will be invested. It is expected to yield $80,000 for the first year, net of investment account fees and taking into account a 3% inflation rate.
The yearly earnings will ensure partial but stable funding for a combination of national programs, scholarships, internships and fellowships. For example, $80,000 will pay for:
- 40 high school students to attend J Camp
- Training expenses to conduct the Introductory Session of ELP with a class size of 25 people
- 30 AAJA members to attend a regional skills-building workshop
- 10 AAJA national scholarship awards
- help fund AAJA's MediaWatch and other initiatives to ensure fair and accurate coverage of Asian Americans and Pacific Islanders and issues
Updated April 2007