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Athletics Enhancement Endowment
On Friday, January 5 @ 2 PM, my wife and I will be at the Tech Foundation office to sign endowment papers creating the "Athletic Enhancement Endowment". The following is from the Endowment's Addendum and explains how it will work:
1. This endowment is designated for the use and benefit of the Department of Intercollegiate Athletics at Louisiana Tech University. The annual allocation is designated for improvements and enhancements to the athletic program including, but not limited to, equipment and technology purchases, facility upgrades, and improvements to athletic department infrastructure. The types of projects funded will be those that are non-recurring and outside the scope of the annual operating budget. The following procedure is requested for incorporating the advice and input of the Donors into the process of determining the use of the annual allocation each year: Each year, after the annual allocation is determined, the Athletic Director will generate a written, prioritized list (3-5 potential funding needs) and send this list to the Donors at 1611 College Dr. Pineville, LA 71360. The Donors and/or their designees will review the list of potential projects and communicate their suggestions and recommendations to the Athletic Director as to which of the options to pursue. After receiving the input of the Donors, the Athletic Director will make the determination as to how the annual allocation will be used. The Athletic Director will also send a written report to the Donors as to the project funded and the results achieved.
I plan to post the proposed project list on a thread and collect votes annually from BBB members. Also, the Foundation will provide me a periodic update on the balance of the endowment so that it can be publized on BBB.
Anyone wanting to send in a tax deductible contribution can do so - make the check payable to Louisiana Tech Foundation and attach a note that it is for the "Athletic Enhancement Endowment". Mail to: Lousiana Tech University Foundation, P.O. Box 3183, Ruston 71272.
It would be exciting to see some donations come in on or about signing day.
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Re: Athletic Enhancement Endowment
Great work. I will definately participate in this venture.
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Re: Athletic Enhancement Endowment
is this the same as tech 8000?
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Do we have any projections on how much money is needed to make a significant contribution to the athletic department?
I know it is all dependant on multiple factors, but it would be nice to have a goal.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
touchdown123
is this the same as tech 8000?
No. Tech 8000 is a pledge drive, and when the desired total is reached ($4.5 mil, I think) those who pledged will be asked to make a check to CHAMPS and the funds will go toward a whole list of priority projects.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Tech78
On Friday, January 5 @ 2 PM, my wife and I will be at the Tech Foundation office to sign endowment papers creating the "Athletic Enhancement Endowment". The following is from the Endowment's Addendum and explains how it will work:
1. This endowment is designated for the use and benefit of the Department of Intercollegiate Athletics at Louisiana Tech University. The annual allocation is designated for improvements and enhancements to the athletic program including, but not limited to, equipment and technology purchases, facility upgrades, and improvements to athletic department infrastructure. The types of projects funded will be those that are non-recurring and outside the scope of the annual operating budget. The following procedure is requested for incorporating the advice and input of the Donors into the process of determining the use of the annual allocation each year: Each year, after the annual allocation is determined, the Athletic Director will generate a written, prioritized list (3-5 potential funding needs) and send this list to the Donors at 1611 College Dr. Pineville, LA 71360. The Donors and/or their designees will review the list of potential projects and communicate their suggestions and recommendations to the Athletic Director as to which of the options to pursue. After receiving the input of the Donors, the Athletic Director will make the determination as to how the annual allocation will be used. The Athletic Director will also send a written report to the Donors as to the project funded and the results achieved.
I plan to post the proposed project list on a thread and collect votes annually from BBB members. Also, the Foundation will provide me a periodic update on the balance of the endowment so that it can be publized on BBB.
Anyone wanting to send in a tax deductible contribution can do so - make the check payable to Louisiana Tech Foundation and attach a note that it is for the "Athletic Enhancement Endowment". Mail to: Lousiana Tech University Foundation, P.O. Box 3183, Ruston 71272.
It would be exciting to see some donations come in on or about signing day.
Did they happen to mention any special instructions for people who want to give online?
Also, is there any limit to the amount (like a minimum) that can be given to it at any one time, or to the frequency one can give to it?
Thanks for your work on this.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Brian96
No. Tech 8000 is a pledge drive, and when the desired total is reached ($4.5 mil, I think) those who pledged will be asked to make a check to CHAMPS and the funds will go toward a whole list of priority projects.
When did this happen? I've never heard of this and definately haven't been asked to give.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
bulldawgs03
When did this happen? I've never heard of this and definately haven't been asked to give.
http://www.latechbbb.com/forum/showt...highlight=8000
It's been discussed on here at length.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Brian96
Did they happen to mention any special instructions for people who want to give online?
Also, is there any limit to the amount (like a minimum) that can be given to it at any one time, or to the frequency one can give to it?
Thanks for your work on this.
The only special instruction, whether by check or online is to indicate that it is for "Athletic Enhancement Endowment". There is no limit on the amount or frequency.
I plan on asking for the principle balance on the endowment quarterly so it can be posted for everyone to see how we are doing.
Thanks for your support of Tech Athletics!!
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Re: Athletic Enhancement Endowment
Here is a link to the article on the endowment signing posted by Jimmy Hand:
http://latechsports.com/article.php?...01_08_16:15:33
I am counting on all you Tech supporters to get on board. My wife and I have stepped up our committment level because we think the time is right.
If you think the time is right; buy season tickets, give to Champs or to this endowment or do all three.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Tech78
Here is a link to the article on the endowment signing posted by Jimmy Hand:
http://latechsports.com/article.php?...01_08_16:15:33
I am counting on all you Tech supporters to get on board. My wife and I have stepped up our committment level because we think the time is right.
If you think the time is right; buy season tickets, give to Champs or to this endowment or do all three.
Just an observation: It didn't seem like the article mentioned that anyone can contribute to the endowment you established. It kind of made it sound like y'all established one, and here is how others can establish endowments as well.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Brian96
Just an observation: It didn't seem like the article mentioned that anyone can contribute to the endowment you established. It kind of made it sound like y'all established one, and here is how others can establish endowments as well.
I agree with your observation. IMO that is because historically Tech's endowments have been for scholarships and professorships. This is the first general endowment for Tech Athletics; all others are for athletic scholarships to date. However, any endowment can be added to by any donor, but someone has to get it started - that is all we did in this case.
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I still don't think that I fully understand this, but I will gladly check my finances after the 15th, and would like to contribute to this and to also the First Pitch program for baseball.
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Re: Athletic Enhancement Endowment
The Foundation Office has set up a link to the online giving form that is already populated with the special designation to the Athletic Enhancement Endowment. Here it is for anyone interested
http://www.latechalumni.org/secure/gifts/index.php?fd=Athletic%20Enhancement%20Endowment
There is an article at latechsports.com about the endowment.
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Re: Athletic Enhancement Endowment
As I promised when the Athletics Enhancement Endowment was created in January, I would post a quarterly update. As of 3/31/2007 the balance is $ 20,700. A total of 3 people have contributed.
Thanks to the other two contributors and I encourage others to support Tech when and how they can.
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Re: Athletic Enhancement Endowment
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Re: Athletic Enhancement Endowment
Tech78 - Thats great. The signs are looking good for a new day at Tech.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Tech78
As I promised when the Athletics Enhancement Endowment was created in January, I would post a quarterly update. As of 3/31/2007 the balance is $ 21,700. A total of 3 people have contributed.
Thanks to the other two contributors and I encourage others to support Tech when and how they can.
remind us how we can give to the Endowment.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
TECHLAX
remind us how we can give to the Endowment.
See post #14 in this thread. Essentially you just designate a gift to the Foundation, which you can do online with your credit card.
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Re: Athletic Enhancement Endowment
sorry...i forgot to open my eyes
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Re: Athletic Enhancement Endowment
Will the admins sticky this thread?
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I thought I'd sent another donation to the athletic enhancement endowment and accidentally didn't designate it except for athletics. It went to CHAMPS, so be sure you designate carefully!
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Re: Athletic Enhancement Endowment
2nd Quarter 2007 Update on the Athletics Enhancement Endowment:
As of 3/31/2007 the balance is $ 20,700. A total of 3 people have contributed.
As of 6/28/2007 the balance is $ 21,200. A total of 3 people have contributed.
Thanks to the other two contributors and I encourage others to support Tech when and how they can.
__________________
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Re: Athletic Enhancement Endowment
Just mailed in my donation to the Endowment. This is truly a great way to support our school for the long term.
GO DAWGS!!
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
JAB
Will the admins sticky this thread?
You got it.
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Re: Athletic Enhancement Endowment
I am going to experiment with selling Tech blankets at the Cenla Champs tent in tailgate alley with the proceeds going to the endowment. My niece is donating her labor and the blankets look great. I took pictures but they were too large to upload (I'll check into getting lower res pictures).
Any predictions on how good blankets will sell with game temperature on 9/1 in the upper 80's?
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Re: Athletic Enhancement Endowment
I can guarantee you will sell at least one. Where is your tent?
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
olddog75
I can guarantee you will sell at least one. Where is your tent?
I like a man who is going to buy without knowing the price. :) The Cenla Champs tent is located on the north end of tailgate alley, across from the Alumni tent. It is white with the state and T on the top and "Cenla Champs" banners on the side. A sample blanket will be flapping in the breeze (we can hope) so the tent should look like a road-side shop - we may add pictures of Champ, Dooley, etc. on black velvet ....:):)
Prices will be $55 for a double sided and $30 for a single sided. I'll take orders if we sale out and they can easily be shipped or picked up at the next home game.
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Re: Athletic Enhancement Endowment
I'll definantly purchase one.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Tech78
I like a man who is going to buy without knowing the price. :) The Cenla Champs tent is located on the north end of tailgate alley, across from the Alumni tent. It is white with the state and T on the top and "Cenla Champs" banners on the side. A sample blanket will be flapping in the breeze (we can hope) so the tent should look like a road-side shop - we may add pictures of Champ, Dooley, etc. on black velvet ....:):)
Prices will be $55 for a double sided and $30 for a single sided. I'll take orders if we sale out and they can easily be shipped or picked up at the next home game.
Make sure you mark it on the map we're trying to get setup for tailgating.
http://www.latechbbb.com/forum/showthread.php?t=43731
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
olddog75
I can guarantee you will sell at least one. Where is your tent?
Make that 2
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Tech78
I like a man who is going to buy without knowing the price. :) The Cenla Champs tent is located on the north end of tailgate alley, across from the Alumni tent. It is white with the state and T on the top and "Cenla Champs" banners on the side. A sample blanket will be flapping in the breeze (we can hope) so the tent should look like a road-side shop - we may add pictures of Champ, Dooley, etc. on black velvet ....:):)
Prices will be $55 for a double sided and $30 for a single sided. I'll take orders if we sale out and they can easily be shipped or picked up at the next home game.
Sign me up for a double sided one. I'm just a big weanie and not coming to the game this week because I'll be less than 2 weeks out from knee replacement surgery, but I'd love to buy one! Can I put a check in the mail to you to get mine on hold?
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Re: Athletic Enhancement Endowment
Tech78,
What kind of interest rate are we getting on the Endowment? Just curious.....
Thanks!
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
techdrummer
Tech78,
What kind of interest rate are we getting on the Endowment? Just curious.....
Thanks!
I checked in with Gary Strebeck at the Foundation regarding your question. Tech follows a strategy of paying out a consistent amount yearly regardless of what the investments return. In good years a reserve is built up to cover the years where the returns disappear or decline. Saying this, they try to allocate 4% yearly to the endowment recipients. It is reviewed yearly to see if adjustments need to be made.
Other university endowments that have followed this strategy for years have found the 4% - 4.5% range to be sustainable. This makes sense since it also allows for reinvestment to protect the principle from inflation once a reserve is established.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Tech78
2nd Quarter 2007 Update on the Athletics Enhancement Endowment:
As of 3/31/2007 the balance is $ 20,700. A total of 3 people have contributed.
As of 6/28/2007 the balance is $ 21,200. A total of 3 people have contributed.
Thanks for the details, 78. I appreciate it.
Doing some rough math............So even if no one ever donated another dollar to the Endowment, we're looking at around $890 to direct as we see fit every year.
That's great and the more donations that come in, the higher that annual allocation dollar amount will be. :) :) :)
I've said it before, but it bears repeating. This is truly a great way to support Tech for a long time. Keep those donations coming!!
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1 Attachment(s)
Re: Athletic Enhancement Endowment
This is a picture of the double-sided fleece Tech Blanket that is being sold / ordered at the Cenla Champs tent in tailgate alley (across from Alumni tent) for the benefit of the Athletics Enhancment Endowment. Double-sided will be $55 and single-sided is $30.
I will have a few for sale and will take orders. They can be shipped for an additional $6. I have no idea what the response will be, so be patient as I resolve any logistical issues.
Everyone needs a blanket for the 90+ temperature on Saturday!!!
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Re: Athletic Enhancement Endowment
3rd Quarter 2007 Update on the Athletics Enhancement Endowment:
As of 3/31/2007 the balance is $ 20,700. A total of 3 people have contributed.
As of 6/28/2007 the balance is $ 21,200. A total of 3 people have contributed.
As of 9/30/2007 the balance is $ 22,130. A total of 5 people have contributed.
Assuming a 4% annual payout, this would result in an $ 885/year payout in today's dollars.
Tech Athletics thanks you!!
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Re: Athletic Enhancement Endowment
Thanks for the update.
Does anyone know what other endowments there are for athletics (other than scholarships)? I really feel that it would be a good idea to take a percentage of all gifts to the athletic department (or at least undesignated gifts) and put it into our endowment. (Actually, I think a portion of all gifts to the university should go to Tech's endowments.)
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Those blankets are incredible. Bought 3 at the Lady Techsters welcome back supper.
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Not trying to tell anyone what to do, but you know, for those who feel they cannot support CHAMPS while Oakes is in charge, giving to this endowment is a way to give to the University, help out the Foundation folks who are working so hard to make things happen, and keep the cash out of Oakes' budget control.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Brian96
Not trying to tell anyone what to do, but you know, for those who feel they cannot support CHAMPS while Oakes is in charge, giving to this endowment is a way to give to the University, help out the Foundation folks who are working so hard to make things happen, and keep the cash out of Oakes' budget control.
I concur with your assessment. I received my end-of-year gift solicitation today from the university. This is the reminder that you have one more month to make that tax-deductible contribution. Of course, the Athletics Enhancement Endowment was not mentioned so I have to make a plug for it in this post.
Remember that the endowment benefits go on in perpetuity and we will have a say in what the money is spent for annually. This thing can really grow into something substantial over time. Dr. Reneau likes to talk about getting more contributors on board. Well this endowment in less than a year equals signing up 3, $25 a month contributors - and no one has to worry about it not pledging again next year, spend any money and time soliciting, don't have to send thankyou notes, etc.
One last plug - blanket sales are still going. Perfect Christmas gift for the Tech fan or for the current and/or soon-to-be Techster. Blanket sales have already resulted in more than $500 going to the Endowment.
One more last plug - we now have attractive Tech scarfs for only $5 each. What a deal! Hope to be selling at the home MBB and WBB games in December.
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Re: Athletic Enhancement Endowment
4th Quarter 2007 Update on the Athletics Enhancement Endowment:
As of 3/31/2007 the balance is $ 20,700. A total of 3 people have contributed.
As of 6/28/2007 the balance is $ 21,200. A total of 3 people have contributed.
As of 9/30/2007 the balance is $ 22,130. A total of 5 people have contributed.
As of 12/31/2007 the balance is $ 25,870. A total of 6 people have contributed.
Assuming a 4% annual payout, this would result in an $ 1,035/year payout in today's dollars.
Tech Athletics thanks you!!
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Re: Athletic Enhancement Endowment
Just made a contribution to this fund in conjunction with a donation to the ATAC fund.
As I make such a big deal about Tech's endowments, I just wanted to say that I plan to make a donation to a related endowment every time I make another contribution to Tech. (In fact, I would love to see a standard percentage of ALL gifts given to the university put into endowments automatically, but I'm not sure how they would go about setting that up.)
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Brian96
Just made a contribution to this fund in conjunction with a donation to the ATAC fund.
As I make such a big deal about Tech's endowments, I just wanted to say that I plan to make a donation to a related endowment every time I make another contribution to Tech. (In fact, I would love to see a standard percentage of ALL gifts given to the university put into endowments automatically, but I'm not sure how they would go about setting that up.)
Great!
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Re: Athletic Enhancement Endowment
1st Quarter 2008 Update on the Athletics Enhancement Endowment:
As of 3/31/2007 the balance is $ 20,700. A total of 3 people have contributed.
As of 6/28/2007 the balance is $ 21,200. A total of 3 people have contributed.
As of 9/30/2007 the balance is $ 22,130. A total of 5 people have contributed.
As of 12/31/2007 the balance is $ 25,870. A total of 6 people have contributed.
As of 03/31/2008 the balance is $ 28,981. A total of 7 people have contributed.
Assuming a 4% annual payout, this would result in an $ 1,159/year payout in today's dollars.
Tech Athletics thanks you!!
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Re: Athletic Enhancement Endowment
Thanks for the update, I'm hoping to make another contribution soon.
Do you know when the first annual payout will be?
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
techdrummer
Thanks for the update, I'm hoping to make another contribution soon.
Do you know when the first annual payout will be?
The first payout will be available to Athletics as of July 1, 2008 for approx. $981.00
The payout is calculated based on the principal on hand June 30, 2007 and this year is 4.5%.
The money in an endowment must be on hand at least 12 months before a payout is made so whatever the balance is at the end of a fiscal year (June 30) will be the basis for the payout for the fiscal year 12 months later (July 1). The percentage payout is variable, but is targeted to be approx. 4% per year.
Good idea to get donations in before June 30 if you want the money to start paying out at the earliest possible date. Tech benefits whenever the money is deposited however. I plan on getting my '08 endowment donation in before June 30th now that I know how the payout is calculated.
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Re: Athletic Enhancement Endowment
Reminder -
Only a couple of weeks left in June. Good idea to get donations in before June 30 if you want the money to start paying out at the earliest possible date. Tech benefits whenever the money is deposited however. I plan on getting my '08 endowment donation in before June 30th now that I know how the payout is calculated.
This year's payout is calculated based on the principal on hand June 30, 2007 and this year is 4.5% for $981.00.
The money in an endowment must be on hand at least 12 months before a payout is made so whatever the balance is at the end of a fiscal year (June 30) will be the basis for the payout for the fiscal year 12 months later (July 1). The percentage payout is variable, but is targeted to be approx. 4% per year.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Tech78
Reminder -
Only a couple of weeks left in June. Good idea to get donations in before June 30 if you want the money to start paying out at the earliest possible date. Tech benefits whenever the money is deposited however. I plan on getting my '08 endowment donation in before June 30th now that I know how the payout is calculated.
This year's payout is calculated based on the principal on hand June 30, 2007 and this year is 4.5% for $981.00.
The money in an endowment must be on hand at least 12 months before a payout is made so whatever the balance is at the end of a fiscal year (June 30) will be the basis for the payout for the fiscal year 12 months later (July 1). The percentage payout is variable, but is targeted to be approx. 4% per year.
Do you have a current balance for the endowment?
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Re: Athletic Enhancement Endowment
981/.045 = 21,800 would be my guess
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Brian96
Do you have a current balance for the endowment?
I post an update of the balance right after the end of each quarter. Here are the numbers after 1st quarter of '08:
1st Quarter 2008 Update on the Athletics Enhancement Endowment:
As of 3/31/2007 the balance is $ 20,700. A total of 3 people have contributed.
As of 6/28/2007 the balance is $ 21,200. A total of 3 people have contributed.
As of 9/30/2007 the balance is $ 22,130. A total of 5 people have contributed.
As of 12/31/2007 the balance is $ 25,870. A total of 6 people have contributed.
As of 03/31/2008 the balance is $ 28,981. A total of 7 people have contributed.
The amount on hand at the end of June '07 is what is being used for this year's payout i.e. $21,200 balance.
I will get the exact balance in a couple of weeks and that amount will be used for next summer's payout (July '09). I know that the current balance is at least $36,981. Hopefully everyone can see that it is steadily growing and that it doesn't take very long for it to start being meaningful. Tech isn't about to go out of business so we have lots of time ...
The endowment is at a point where it is giving the equivalent of $123 / month to Athletics in perpetuity!!!
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Tech78
I post an update of the balance right after the end of each quarter. Here are the numbers after 1st quarter of '08:
1st Quarter 2008 Update on the Athletics Enhancement Endowment:
As of 3/31/2007 the balance is $ 20,700. A total of 3 people have contributed.
As of 6/28/2007 the balance is $ 21,200. A total of 3 people have contributed.
As of 9/30/2007 the balance is $ 22,130. A total of 5 people have contributed.
As of 12/31/2007 the balance is $ 25,870. A total of 6 people have contributed.
As of 03/31/2008 the balance is $ 28,981. A total of 7 people have contributed.
The amount on hand at the end of June '07 is what is being used for this year's payout i.e. $21,200 balance.
I will get the exact balance in a couple of weeks and that amount will be used for next summer's payout (July '09). I know that the current balance is at least $36,981. Hopefully everyone can see that it is steadily growing and that it doesn't take very long for it to start being meaningful. Tech isn't about to go out of business so we have lots of time ...
The endowment is at a point where it is giving the equivalent of $123 / month to Athletics in perpetuity!!!
Excellent news
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Re: Athletic Enhancement Endowment
Dropping another Endowment check in the mail today!
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Re: Athletic Enhancement Endowment
I post an update of the balance right after the end of each quarter. Here are the numbers after 2nd quarter of '08:
2nd Quarter 2008 Update on the Athletics Enhancement Endowment:
As of 3/31/2007 the balance is $ 20,700. A total of 3 people have contributed.
As of 6/28/2007 the balance is $ 21,200. A total of 3 people have contributed.
As of 9/30/2007 the balance is $ 22,130. A total of 5 people have contributed.
As of 12/31/2007 the balance is $ 25,870. A total of 6 people have contributed.
As of 03/31/2008 the balance is $ 28,981. A total of 7 people have contributed.
As of 06/30/2008 the balance is $ 36,875 . A total of 8 people have contributed.
The $21,200 balance on hand at the end of June '07 is what is being used for the '08 payout.
The $36,875 balance on hand at the end of June '08 is what will be used for the '09 payout.
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Re: Athletic Enhancement Endowment
That's very impressive - I wish I had some to give! Would $50 be too little?
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
okiealdawg
That's very impressive - I wish I had some to give! Would $50 be too little?
No amount is too little and donations count for towards your LTAC membership as do all donations to Athletics. Thanks for the consideration.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Tech78
I post an update of the balance right after the end of each quarter. Here are the numbers after 2nd quarter of '08:
2nd Quarter 2008 Update on the Athletics Enhancement Endowment:
As of 3/31/2007 the balance is $ 20,700. A total of 3 people have contributed.
As of 6/28/2007 the balance is $ 21,200. A total of 3 people have contributed.
As of 9/30/2007 the balance is $ 22,130. A total of 5 people have contributed.
As of 12/31/2007 the balance is $ 25,870. A total of 6 people have contributed.
As of 03/31/2008 the balance is $ 28,981. A total of 7 people have contributed.
As of 06/30/2008 the balance is $ 36,875 . A total of 8 people have contributed.
The $21,200 balance on hand at the end of June '07 is what is being used for the '08 payout.
The $36,875 balance on hand at the end of June '08 is what will be used for the '09 payout.
Just out of curiosity, when you say "8 people have given," that means 8 distinct individuals, right? Not 8 contributions? (I have given twice, and I know you have given more than once. I hope that doesn't mean there are just 3 people giving to this thing!)
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Tech78
No amount is too little and donations count for towards your LTAC membership as do all donations to Athletics. Thanks for the consideration.
Just to reiterate, NO amount is too little.
As I have said before, I really wish that Tech invested a portion of all contributions (or at least all undesignated contributions) in endowments. (I know of other not-for-profits that do this, and it gives them guaranteed income for the long run.)
As Tech doesn't do this automatically, I do it myself. Whenever I give to LTAC, I designate at least 10% (and as much as 50%) of my total gift to this endowment and the rest to the LTAC general fund.
Schools that are achieving great things have large endowments. Tech can spend like madmen now, but unless we are also establishing big money in endowments, we will never reach the next level, in athletics or in academics. Even ULL has nearly twice as much money in total endowments!
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Re: Athletic Enhancement Endowment
When will we discuss the best use of the payout this year? Or has that already been decided?
Thanks
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Tech78
: Each year, after the annual allocation is determined, the Athletic Director will generate a written, prioritized list (3-5 potential funding needs) and send this list to the Donors at 1611 College Dr. Pineville, LA 71360. The Donors and/or their designees will review the list of potential projects and communicate their suggestions and recommendations to the Athletic Director as to which of the options to pursue.
I plan to post the proposed project list on a thread and collect votes annually from BBB members.
Thanks spoiled, but I was referring more to this part of the arrangement. Any info on that?
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
techdrummer
Thanks spoiled, but I was referring more to this part of the arrangement. Any info on that?
I have been working on this since the new fiscal year for the university began July 1. I have sent a couple of emails to Bruce V. asking him to first get info on the terms of the endowment from the Foundation and then contact me with their top 3-5 needs. I have not heard back from him as of yet, but will now pursue the topic again since opening day is over with and he has been very busy with the start of the season.
I still plan on polling for the way the money should be spent here on BBB.
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Re: Athletic Enhancement Endowment
I post an update of the balance right after the end of each quarter. Here are the numbers after 3rd quarter of '08:
3rd Quarter 2008 Update on the Athletics Enhancement Endowment:
As of 3/31/2007 the balance is $ 20,700. A total of 3 people have contributed.
As of 6/28/2007 the balance is $ 21,200. A total of 3 people have contributed.
As of 9/30/2007 the balance is $ 22,130. A total of 5 people have contributed.
As of 12/31/2007 the balance is $ 25,870. A total of 6 people have contributed.
As of 03/31/2008 the balance is $ 28,981. A total of 7 people have contributed.
As of 06/30/2008 the balance is $ 36,875 . A total of 8 people have contributed.
As of 09/30/2008 the balance is $ 36,965 . A total of 8 people have contributed.
The $21,200 balance on hand at the end of June '07 is what is being used for the July '08 payout.
The $36,875 balance on hand at the end of June '08 is what will be used for the July '09 payout.
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Re: Athletic Enhancement Endowment
I post an update of the balance right after the end of each quarter. Here are the numbers after 4th quarter of '08:
4th Quarter 2008 Update on the Athletics Enhancement Endowment:
As of 3/31/2007 the balance is $ 20,700. A total of 3 people have contributed.
As of 6/28/2007 the balance is $ 21,200. A total of 3 people have contributed.
As of 9/30/2007 the balance is $ 22,130. A total of 5 people have contributed.
As of 12/31/2007 the balance is $ 25,870. A total of 6 people have contributed.
As of 03/31/2008 the balance is $ 28,981. A total of 7 people have contributed.
As of 06/30/2008 the balance is $ 36,875 . A total of 8 people have contributed.
As of 09/30/2008 the balance is $ 36,965 . A total of 8 people have contributed.
As of 12/31/2008 the balance is $ 38,733 . A total of 8 people have contributed.
The $21,200 balance on hand at the end of June '07 is what is being used for the July '08 payout.
The $36,875 balance on hand at the end of June '08 is what will be used for the July '09 payout.
No one contributed during the 4th quarter of '08. The $520 added came from my Tech blanket and scarf sales.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Tech78
I post an update of the balance right after the end of each quarter. Here are the numbers after 4th quarter of '08:
4th Quarter 2008 Update on the Athletics Enhancement Endowment:
As of 3/31/2007 the balance is $ 20,700. A total of 3 people have contributed.
As of 6/28/2007 the balance is $ 21,200. A total of 3 people have contributed.
As of 9/30/2007 the balance is $ 22,130. A total of 5 people have contributed.
As of 12/31/2007 the balance is $ 25,870. A total of 6 people have contributed.
As of 03/31/2008 the balance is $ 28,981. A total of 7 people have contributed.
As of 06/30/2008 the balance is $ 36,875 . A total of 8 people have contributed.
As of 09/30/2008 the balance is $ 36,965 . A total of 8 people have contributed.
As of 12/31/2008 the balance is $ 37,485 . A total of 8 people have contributed.
The $21,200 balance on hand at the end of June '07 is what is being used for the July '08 payout.
The $36,875 balance on hand at the end of June '08 is what will be used for the July '09 payout.
No one contributed during the 4th quarter of '08. The $520 added came from my Tech blanket and scarf sales.
When I renew my LTAC donation in a week or two I am going to designate $100 to go to the athletic enhancement endowment. Any updates on where the money is going?
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
detltu
When I renew my LTAC donation in a week or two I am going to designate $100 to go to the athletic enhancement endowment. Any updates on where the money is going?
Thanks for supporting the endowment!!
The survey that was conducted on BBB back in the summer supported spending the money towards a new ticketing system. I was told that the implementation is imminent.
One day the endowment will be large enough to make standalone purchases for the department...
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Tech78
Thanks for supporting the endowment!!
The survey that was conducted on BBB back in the summer supported spending the money towards a new ticketing system. I was told that the implementation is imminent.
One day the endowment will be large enough to make standalone purchases for the department...
Awesome. Thanks. It will be next week when I renew my LTAC donation.
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Re: Athletic Enhancement Endowment
I renewed my LTAC membership and designated $100 of my donation go to the Athletic Enhancement endowment. I always do my donation in monthly installments so I am not sure when or how they will add my contribution to the endowment, but it should be there at some point.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
detltu
I renewed my LTAC membership and designated $100 of my donation go to the Athletic Enhancement endowment. I always do my donation in monthly installments so I am not sure when or how they will add my contribution to the endowment, but it should be there at some point.
Excellent. I think it is a great idea to swing some money toward an endowment whenever you give to Tech. Helps Tech now, and helps ensure there will be income down the road.
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Re: Athletic Enhancement Endowment
Tech78,
I am kinda the guy who tries to rally the DFW Dawgs and I would like to host a golf tournament this spring and the money raised go into the endowment.
What I would really like to see is it become a LA vs. Texas tournament, so my question is how many Louisiana Alums would come over to play golf one weekend????
I would love to see the winner take home a trophy and get to host the tournament in their state the next year and get a fun rivalry that would spark all these Bulldogs in DFW.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
DallasDog
Tech78,
I am kinda the guy who tries to rally the DFW Dawgs and I would like to host a golf tournament this spring and the money raised go into the endowment.
What I would really like to see is it become a LA vs. Texas tournament, so my question is how many Louisiana Alums would come over to play golf one weekend????
I would love to see the winner take home a trophy and get to host the tournament in their state the next year and get a fun rivalry that would spark all these Bulldogs in DFW.
Just another suggestion for a fundraiser...
I was in a Spring/Summer league for softball here in Atlanta and one of the events we had was a 9 pin Strike tournament.
We held it on a Saturday in the Summer when people were looking for a cool place to go in the middle of the day to have fun. The Alley donated the lanes but they made money from all the beer and refreshments that they sold to the participants(+people had to pay their shoe rental). We charged like $20 per participant(3 games). It was a fun way to gather and an easy way to have a fundraiser. There were also split pot raffles during each game for the pin winners.
I think we made about $1,500.00 but these were just some people associated with softball. I would hope a Tech Alumni event might draw even more people.
* 9 pin Strike for those that don't know is that if you get 9 pins down - it counts for a strike. It encourages more participation because the competition is not as serious.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Brian96
Excellent. I think it is a great idea to swing some money toward an endowment whenever you give to Tech. Helps Tech now, and helps ensure there will be income down the road.
That and I think Tech needs to work on its endowment situation. Our endowment (not just talking about athletics) is really lacking. The best I can tell our endowment is at about 39 million. ULL has an endowment of about 93 million. We got work to do guys.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
DallasDog
Tech78,
I am kinda the guy who tries to rally the DFW Dawgs and I would like to host a golf tournament this spring and the money raised go into the endowment.
What I would really like to see is it become a LA vs. Texas tournament, so my question is how many Louisiana Alums would come over to play golf one weekend????
I would love to see the winner take home a trophy and get to host the tournament in their state the next year and get a fun rivalry that would spark all these Bulldogs in DFW.
I suck at golf but I love to play. I would be willing as long as my poor performance didn't count against my state. A four man scramble and I could get quite a few people involved.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
detltu
That and I think Tech needs to work on its endowment situation. Our endowment (not just talking about athletics) is really lacking. The best I can tell our endowment is at about 39 million. ULL has an endowment of about 93 million. We got work to do guys.
It's hard to find up-to-date numbers. Last year when I looked it up we had about $65 million and ULL had about $120 million. Like everyone else, though, school endowments have been hit hard by the economic downturn, and according to the latest Tech Report, our endowments have suffered a net DROP of several million dollars over last year.
But you are absolutely correct: we need SERIOUS work on our endowments. As I've said on here many, many times, schools that are growing have either significant endowments or are strongly anchored to a growing metropolitan area. Tech has neither at the moment. Until we have a significant presence in Shreveport and get serious about growing our endowments, we will be treading water. And if we continue to do neither and the state budget situation continues to spiral, we could REALLY be looking at dark times. Trudging along and relying on government handouts might have been sufficient for growth in th 1960s, but those days are long since over.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Brian96
It's hard to find up-to-date numbers. Last year when I looked it up we had about $65 million and ULL had about $120 million. Like everyone else, though, school endowments have been hit hard by the economic downturn, and according to the latest Tech Report, our endowments have suffered a net DROP of several million dollars over last year.
But you are absolutely correct: we need SERIOUS work on our endowments. As I've said on here many, many times, schools that are growing have either significant endowments or are strongly anchored to a growing metropolitan area. Tech has neither at the moment. Until we have a significant presence in Shreveport and get serious about growing our endowments, we will be treading water. And if we continue to do neither and the state budget situation continues to spiral, we could REALLY be looking at dark times. Trudging along and relying on government handouts might have been sufficient for growth in th 1960s, but those days are long since over.
There is no telling how old my info is. It is definately hard to find up to date information. I agree that it is an area that Tech needs to work hard on.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
DallasDog
Tech78,
I am kinda the guy who tries to rally the DFW Dawgs and I would like to host a golf tournament this spring and the money raised go into the endowment.
What I would really like to see is it become a LA vs. Texas tournament, so my question is how many Louisiana Alums would come over to play golf one weekend????
I would love to see the winner take home a trophy and get to host the tournament in their state the next year and get a fun rivalry that would spark all these Bulldogs in DFW.
I'm sure that Dwayne's Duffers would come over there and show you how it's done. :)
Hopefully HD and his crew will come over and collect a sleeve of tennis balls at the end. :icon_wink:
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
DocMarvin362
I'm sure that Dwayne's Duffers would come over there and show you how it's done. :)
Hopefully HD and his crew will come over and collect a sleeve of tennis balls at the end. :icon_wink:
That would be fun, wouldn't it? Especially the HD part.
Remember, Boys & Girls Club tourney April 24 . . this year at Pine Hills in Calhoun.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Dawgpix
That would be fun, wouldn't it? Especially the HD part.
Remember, Boys & Girls Club tourney April 24 . . this year at Pine Hills in Calhoun.
Uuuhhhh..... not sure I can make that one.
I have to get my car's oil changed that day.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
DocMarvin362
Uuuhhhh..... not sure I can make that one.
I have to get my car's oil changed that day.
Now, what kind of remark is that????
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Re: Athletic Enhancement Endowment
..... washing my hair???
:D :D :D :D
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Re: Athletic Enhancement Endowment
I post an update of the balance right after the end of each quarter.
1st Quarter 2009 Update on the Athletics Enhancement Endowment:
As of 3/31/2007 the balance is $ 20,700. A total of 3 people have contributed.
As of 6/28/2007 the balance is $ 21,200. A total of 3 people have contributed.
As of 9/30/2007 the balance is $ 22,130. A total of 5 people have contributed.
As of 12/31/2007 the balance is $ 25,870. A total of 6 people have contributed.
As of 03/31/2008 the balance is $ 28,981. A total of 7 people have contributed.
As of 06/30/2008 the balance is $ 36,875 . A total of 8 people have contributed.
As of 09/30/2008 the balance is $ 36,965 . A total of 8 people have contributed.
As of 12/31/2008 the balance is $ 36,965 . A total of 8 people have contributed.
As of 03/31/2009 the balance is $ 37,982 . A total of 9 people have contributed.
The $21,200 balance on hand at the end of June '07 is what is being used for the July '08 payout.
The $36,875 balance on hand at the end of June '08 is what will be used for the July '09 payout.
Make your donation by June 30 if you want to help Tech Athletics starting with the summer of 2010 payout.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Brian96
It's hard to find up-to-date numbers. Last year when I looked it up we had about $65 million and ULL had about $120 million. Like everyone else, though, school endowments have been hit hard by the economic downturn, and according to the latest Tech Report, our endowments have suffered a net DROP of several million dollars over last year.
But you are absolutely correct: we need SERIOUS work on our endowments. As I've said on here many, many times, schools that are growing have either significant endowments or are strongly anchored to a growing metropolitan area. Tech has neither at the moment. Until we have a significant presence in Shreveport and get serious about growing our endowments, we will be treading water. And if we continue to do neither and the state budget situation continues to spiral, we could REALLY be looking at dark times. Trudging along and relying on government handouts might have been sufficient for growth in th 1960s, but those days are long since over.
Looking at some endowment stuff and found this report from last year: http://www.nacubo.org/documents/rese...arketValue.pdf
We aren't on there but Some other schools are and if you use the 65 million number you gave me Tech would rank 8th in the WAC and last in the C-USA. ULL and ULM didn't report but Mcneese did at 50 million in Endowments. Centenary is at 118 million as of 2008. I suspect Marshall is at the bottom of the C-USA with around 85 million. From those who report and figuring ULL is still way ahead of us we would rank 6th in the State in Endowments behind : Tulane, LSU, Loyola, Centenary, and ULL.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
detltu
Looking at some endowment stuff and found this report from last year:
http://www.nacubo.org/documents/rese...arketValue.pdf
We aren't on there but Some other schools are and if you use the 65 million number you gave me Tech would rank 8th in the WAC and last in the C-USA. ULL and ULM didn't report but Mcneese did at 50 million in Endowments. Centenary is at 118 million as of 2008. I suspect Marshall is at the bottom of the C-USA with around 85 million. From those who report and figuring ULL is still way ahead of us we would rank 6th in the State in Endowments behind : Tulane, LSU, Loyola, Centenary, and ULL.
Thanks for the info.
The last good numbers I had for ULL had them at ~$120 million and ULM at ~$30 million.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Brian96
Thanks for the info.
The last good numbers I had for ULL had them at ~$120 million and ULM at ~$30 million.
I would like to see us make a big push to get to 100 mil similar to what tulane did to get to a bil. Engineering and science has the Techs BEST program but I don't think they do a very good job of promoting it. They have been getting some new chairs and professorships though.
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Re: Athletic Enhancement Endowment
Bringing this back to the Athletics Enhancement Endowment, how about we work to get this thing to $50K by June 30?
I'll fill the year in later...:(
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Tech78
Bringing this back to the Athletics Enhancement Endowment, how about we work to get this thing to $50K by June 30?
I'll fill the year in later...:(
I think you should go ahead and fill in 2010 for that.
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Re: Athletic Enhancement Endowment
Reminder -
Still time to get a donation in for the endowment before the end of June. Good idea to get donations in before June 30 if you want the money to start paying out at the earliest possible date. Tech benefits whenever the money is deposited however. Endowment donations count towards LTAC membership.
This year's payout is calculated based on the principal of $36,875 on hand June 30, 2008 with the target percentage of 4% for $1475 to be available to Athletics in July '09.
The money in an endowment must be on hand at least 12 months before a payout is made so whatever the balance is at the end of a fiscal year (June 30) will be the basis for the payout for the fiscal year 12 months later (July 1). The percentage payout is variable, but is targeted to be approx. 4% per year.
__________________
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Tech78
Reminder -
Still time to get a donation in for the endowment before the end of June. Good idea to get donations in before June 30 if you want the money to start paying out at the earliest possible date. Tech benefits whenever the money is deposited however. Endowment donations count towards LTAC membership.
This year's payout is calculated based on the principal of $36,875 on hand June 30, 2008 with the target percentage of 4% for $1475 to be available to Athletics in July '09.
The money in an endowment must be on hand at least 12 months before a payout is made so whatever the balance is at the end of a fiscal year (June 30) will be the basis for the payout for the fiscal year 12 months later (July 1). The percentage payout is variable, but is targeted to be approx. 4% per year.
__________________
I always donate my entire LTAC contribution to this. I believe this is a great cause to insure the long-term success of our athletic programs. I believe everyone should give a portion to this and other endowments across campus every year to help sustain the university.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
firedog
I always donate my entire LTAC contribution to this. I believe this is a great cause to insure the long-term success of our athletic programs. I believe everyone should give a portion to this and other endowments across campus every year to help sustain the university.
+1
That is funny, I was planning to make the exact same post.
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Re: Athletic Enhancement Endowment
im real slow. the link in post #14 didnt work anymore.
how do i contribute?
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
JAY
im real slow. the link in post #14 didnt work anymore.
how do i contribute?
I just wrote in the Comments section that I wanted X dollars to go to the Athletics Enhancement Endowment. Other than that its just like making a regular LTAC donation.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
detltu
I just wrote in the Comments section that I wanted X dollars to go to the Athletics Enhancement Endowment. Other than that its just like making a regular LTAC donation.
ohhhh
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
JAY
ohhhh
They used to have an auto-populated form for the endowment, but they no longer do. So we just do it manually, like delt said.
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Re: Athletic Enhancement Endowment
I am admittedly slow, but we're on board with this fine Tech Athletics Endowment program as of today.
DogsWin
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
DogsWin
I am admittedly slow, but we're on board with this fine Tech Athletics Endowment program as of today.
DogsWin
It is okay to be slow as long as you get the bone (Dog speak).
The endowment is going to outlast all of us so what a legacy you have just left for Tech Athletics.
Still time for the other "slow Tech Fans" to make donations to the Endowment before June 30 (cut-off date for 2010's payout).
Thanks DogsWin!!!
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Re: Athletic Enhancement Endowment
I was reading Tulane's Athletic Foundation and they had a record 2800 members last year. But they only had 1.8 million donated. Athetics is supported mostly by endowments. I think with the AE endowment, we could sock a good chunk of money away with a good push.
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Re: Athletic Enhancement Endowment
Any updates on the value from June 30th 2009 and the payout for next year?
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Re: Athletic Enhancement Endowment
I post an update of the balance right after the end of each quarter.
2nd Quarter 2009 Update on the Athletics Enhancement Endowment:
As of 3/31/2007 the balance is $ 20,700. 3 different contributors life to date.
As of 6/28/2007 the balance is $ 21,200. 3 different contributors life to date.
As of 9/30/2007 the balance is $ 22,130. 5 different contributors life to date.
As of 12/31/2007 the balance is $ 25,870. 6 different contributors life to date.
As of 03/31/2008 the balance is $ 28,981. 7 different contributors life to date.
As of 06/30/2008 the balance is $ 36,875 . 8 different contributors life to date.
As of 09/30/2008 the balance is $ 36,965 . 8 different contributors life to date.
As of 12/31/2008 the balance is $ 36,965 . 8 different contributors life to date.
As of 03/31/2009 the balance is $ 37,982 . 9 different contributors life to date.
As of 06/30/2009 the balance is $ 42,465 . 11 different contributors life to date.
The $36,875 balance on hand at the end of June '08 is what is being used for the July '09 payout. The payout this summer is $683 (down due to the poor market conditions).
The $42,465 balance on hand at the end of June '08 is what will be used for the July '09 payout.
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Re: Athletic Enhancement Endowment
We should all contribute to this Endowment because it can only grow and the principle can't be touched.
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Re: Athletic Enhancement Endowment
Its a gift that keeps on giving. Thanks Tech78.
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Re: Athletic Enhancement Endowment
Quote:
Originally Posted by
Tech78
I post an update of the balance right after the end of each quarter.
2nd Quarter 2009 Update on the Athletics Enhancement Endowment:
As of 3/31/2007 the balance is $ 20,700. 3 different contributors life to date.
As of 6/28/2007 the balance is $ 21,200. 3 different contributors life to date.
As of 9/30/2007 the balance is $ 22,130. 5 different contributors life to date.
As of 12/31/2007 the balance is $ 25,870. 6 different contributors life to date.
As of 03/31/2008 the balance is $ 28,981. 7 different contributors life to date.
As of 06/30/2008 the balance is $ 36,875 . 8 different contributors life to date.
As of 09/30/2008 the balance is $ 36,965 . 8 different contributors life to date.
As of 12/31/2008 the balance is $ 36,965 . 8 different contributors life to date.
As of 03/31/2009 the balance is $ 37,982 . 9 different contributors life to date.
As of 06/30/2009 the balance is $ 42,465 . 11 different contributors life to date.
The $36,875 balance on hand at the end of June '08 is what is being used for the July '09 payout. The payout this summer is $683 (down due to the poor market conditions).
The $42,465 balance on hand at the end of June '08 is what will be used for the July '09 payout.
I really think we can hit 50K by June of next year. I will be increasing my contribution in January.