On June 1, 2018 the challenge grant to fund an endowment for maintenance and operations for Virazon II came to an end. Thanks to the great generosity of INA directors, donors, and members, contributions of $689,830 were doubled after the match to total $1,379,660. Even more impressive are the skills of our investment team who added $720,000 in value during the 15 months contributions were accumulating. This means the Virazon II Endowment for Maintenance and Operations has now reached a grand total of $2,100,000!
In the past INA researchers relied on large external grants to fund big projects. Although they will still apply for assistance grants, gone are the days when INA Project Directors were faced with raising large sums to put our research vessel in working order before they could start their project. Those of you who contributed should be as proud as we are that INA can now fund a large portion of our surveys and excavations with this strategic endowment.
The Virazon II Endowment is already proving timely and useful as a major funding source for the Albania project starting later this month. As our own crew gets Virazon II ready to embark on the voyage westward from the Aegean into the Ionian Sea, they will be joined by a crew of five extra sailors. Funding this additional crew, plus a cook, in addition to fuel and food will be possible because of your generous donations to the Virazon II Endowment for Maintenance and Operations.
It’s an auspicious beginning and a big milestone for INA; we thank you all for participating in the Virazon II Matching Challenge Grant and invite you to stay tuned!