INDIANAPOLIS, Ind., Aug. 12, 2009 – The National Gymnastics Foundation, in partnership with USA Gymnastics, is creating a Collegiate Gymnastics Developmental Fund. The fund’s goal is to provide solutions to support collegiate programs in peril and offer educational and business training for coaches and program administrators to assist them in building financially secure programs. The Collegiate Gymnastics Developmental Fund complements the initiatives USA Gymnastics already has in place to support collegiate gymnastics.

“Collegiate gymnastics is a vital part of the gymnastics fabric in the United States,” said Steve Penny, president of USA Gymnastics. “This effort will work to reinforce the importance of our existing NCAA programs and provide a new level of support to the coaches and athletes involved. The fund is intended to create a mechanism in partnership with the various coaches associations and schools that helps collegiate gymnastics programs enhance their presence in communities nationwide. We look forward to working with the National Association of Collegiate Gymnastics Coaches/Women, College Gymnastics Association for men’s gymnastics and the various gymnastics programs as we move forward. ”

In addition to the Collegiate Developmental Fund, the National Gymnastics Foundation already has scholarship programs in place for men’s collegiate gymnastics and trampoline athletes that are endowed through donations and fees. USA Gymnastics organizes national championships for both men’s and women’s gymnastics to supplement the NCAA National Gymnastics Championships. USA Gymnastics has taken an increasingly proactive role in supporting the collegiate arm of gymnastics; earlier this year it hosted a summit to discuss the issues facing collegiate gymnastics and assisted in a fundraising effort for Cal State Fullerton women’s gymnastics team.

The Collegiate Developmental Fund (CDF) will be supported through public and private donations, as well as through some existing funds in the National Gymnastics Foundation. The NGF has dedicated funds valued at $100,000 to seed the CDF.

“The Foundation is still working out the details for the fund,” said Bob Wood, chair of the National Gymnastics Foundation. “No grants will be issued until the guidelines and parameters for funding and distribution are solidified. We are excited about the opportunities the Fund will present, and we hope the gymnastics community will band together to build a solid endowment for this effort.”

"This is a huge step forward," commented Mike Lorenzen, president of NACGC/W. "We are very excited about the opportunity to work with USA Gymnastics and the National Gymnastics Foundation to identify solutions to maintain and develop new college programs."

“It is important for us to work together to sustain NCAA gymnastics as an important goal for all of our athletes,” said Mike Burns, president of the College Gymnastics Association for men’s gymnastics. “USA Gymnastics, the National Gymnastics Foundation and the entire NCAA gymnastics community are vital partners in this effort. I look forward to working on this worthwhile cause.”

The National Gymnastics Foundation was created from the energy and excitement generated by the gold-medal Olympic effort of the 1984 Olympic Games in Los Angeles. Proceeds totaling $1.4 million from the 1984 Olympics were used to establish the Foundation, a 501(c)(3) charitable organization. Today, the Foundation’s assets total approximately $4.3 million.