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?
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.
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.
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?
Re: Athletic Enhancement Endowment
981/.045 = 21,800 would be my guess
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!!!
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
Re: Athletic Enhancement Endowment
Dropping another Endowment check in the mail today!
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.
Re: Athletic Enhancement Endowment
That's very impressive - I wish I had some to give! Would $50 be too little?
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.
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!)
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!
Re: Athletic Enhancement Endowment
When will we discuss the best use of the payout this year? Or has that already been decided?
Thanks
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?