"We want to do everything we can to help varsity gymnastics programmes succeed," said Robert Wood, chairman of the National Gymnastics Foundation.

"Providing resources is an important part of helping to sustain existing programmes, creating new programmes or converting existing club teams into varsity programmes.

"Collegiate gymnastics is the goal of many young athletes and we are prepared to assist and invest in a stable environment for future success and growth."

The National Gymnastic Foundation's Board has identified three key objectives it hopes these funds will go some way in achieving.

These, according to a USA Gymnastics statement, are; "to support the growth of men's and women's National Collegiate Athletic Association (NCAA) varsity programmes; to assist endowment initiatives at men's and women's NCAA varsity programmes; and to provide grants for NCAA gymnastics programmes as requested from either the NCAA or its member institutions."

The $300,000 funds are hoped to support the growth of University level gymnastics across America ©Louisiana State University/Getty Images



"This initiative creates a mechanism to do more as we go forward," added Wood.

"We believe that we will be better able to build resources and encourage others to participate after taking this step, along with the other actions being taken by USA Gymnastics."

Steve Penny, President of USA Gymnastics, claimed this allocation of funds will "serve as a catalyst for more forward progress" for collegiate gymnastics across the United States as the sport continues to grow in popularity.

"Gymnastics continues to grow in popularity among young people throughout our country," he said.

"This is another proactive step that USA Gymnastics and the National Gymnastics Foundation can take in partnership to recognise the importance of collegiate gymnastics.

"We have provided support in the past, are continuing to do so, and believe that making additional financial assistance available will serve as a catalyst for more forward progress."

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