ACAP FOUNDATION
ACAP Foundation, shorthand ACAP, is a US 501c3 non-for profit seeking to promote US-Croatian professional and community links and ties. The purpose of the endowment, as hereby described, is to promote ACAP’s charitable interest across education, career, and community efforts of its members, partners, and sponsors. The goal is to support, through networking, volunteering, and donating, various causes promoting people and causes that further strengthen U.S.-Croatian and global, networks and recognition of Croatia in the world.
What is ACAP doing?
ACAP Foundation is setting up an endowment to help with the operating cost of running its operations. The long-term goal, in this case, perpetual endowment, is to generate income to support ACAP Foundation mission of promoting education, careers, and community. To prepare for the management of the endowment, ACAP Foundation is working with ACAP members that are investment professionals and notable in their field. A part of the preparation is this virtual endowment competition, which will help us assess the best approach to managing the endowment funds being raised. To that end, ACAP Foundation is inviting students and ACAP members interested in investments and finances to apply to participate in this competition. The application deadline is May 20, 2024.
The Approach
ACAP Foundation monetary support of scholarships, mentorships, communities require continuous fundraising. The virtual endowment contest fits in ACAP Foundation efforts to both promote mentoring in financial services industry, a part of its education and careers mission, as well as to gain some insights on managing an endowment directly, with the help of its members investment professionals and participating students. Teams will manage virtual funds through an online app, with the help of investment professionals and mentors, and in line with the endowment goals.
In 2025 and after, the actual endowment and the funds raised through ACAP Foundation efforts will be managed to generate operating income to support ACAP Foundation, while maintaining the principal balances, i.e. donations received, for direct 100% support of the foundation’s education, careers and community, in line with is 100% pledge.
The Competition
The competition will last 12 months and starts on June 1, 2024. A maximum of four teams can participate, each with up to three members. Teams of 3 students would manage a virtual endowment of $1m, following prescribed ACAP Endowment goals and criteria. Once a month, they will meet with the ACAP investment professionals and members to review results and discuss ongoing performance. At the end of the program, all teams will present back to the ACAP Board, and the winning teams will earn cash prizes.
To apply for the Competition, you must be an ACAP member. The student membership fee is $25. To qualify as a student member and access the application form, please provide documentation confirming your current enrollment as a student.
Mentors
