Tech 78, can we get an update on the endowment numbers? Thanks.
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Tech 78, can we get an update on the endowment numbers? Thanks.
The balance on hand August 31, 2016 will be used for the July '17 payout.
The endowment was started in January 2007. The first payout to athletics was made for the '08--'09 academic year. The Foundation Board sets the percentage each year. The payout amount is based on the endowment's corpus from the previous year's August 31 balance.
Balance of the Endowment on August 31, 2014 was $92,640 which was used to determine 2015-16 payout of $3,706.
Balance of the Endowment on August 31, 2015 was $100,650 which was used to determine 2016-17 payout of $4,026.
The payout history for the endowment:
2008-2009 -- $ 981 for Athletics ticketing system
2009-2010 -- $ 683 for Athletics facilities landscaping improvements
2010-2011 -- $1,111 for Tech logos at JAS
2011-2012 -- $1,871 for equipment updates for sports medicine / trainers
2012-2013 -- $2,165 lights for soccer field
2013-2014 -- $2,473 athletic's scholarship fund
2014-2015 -- $3,310 Sport and Movement Laboratory
2015-2016 -- $3,706 Sport and Movement Laboratory
2016-2017 -- $4,026 Soccer / Tennis Locker Room Renovation
Total to date $20,326 paid out.
Congratulations Tech78 on having over a $100K in the endowment and paying out over $20K since inception. You are making a difference in the landscape of Tech athletics. I wish more would designate some of their LTAC donations to your effort.Originally Posted by Tech78
Yep, Tech78 is a stud.
Is today the last day to contribute for this fiscal year? That used to be an important cut-off date.
twss
Have until the end of August now. They moved the date.
What is the current status of the endowment? I plan to give part of my LTAC donation to the endowment this year. Thanks Tech78!
twss
The balance is approximately $110,000. I just received notification that the payout this year (2017-2018) is $4,250.
I currently plan on holding this amount to combine with next year's payout to see if it could meet a larger need, assuming something is identified.
Donations received by end of August 2017 will be used in next year's payout calculation - write those checks now and note they are for the Athletics Enhancement Endowment. Thanks to everyone for contributing to the long-term support of Tech Athletics.
The payout history for the endowment:
2008-2009 -- $ 981 for Athletics ticketing system
2009-2010 -- $ 683 for Athletics facilities landscaping improvements
2010-2011 -- $1,111 for Tech logos at JAS
2011-2012 -- $1,871 for equipment updates for sports medicine / trainers
2012-2013 -- $2,165 lights for soccer field
2013-2014 -- $2,473 athletic's scholarship fund
2014-2015 -- $3,310 Sport and Movement Laboratory
2015-2016 -- $3,706 Sport and Movement Laboratory
2016-2017 -- $4,026 Soccer / Tennis Locker Room Renovation
2017-2018 -- $4,250 Holding until next year
Total to date $24,576 paid out.
Any update from donations through June?
The balance as
of 6/30/17 is $110.8. Any donations by 8/31/17 will be used to calculate next year's payout. Time to write that big check for the Athletics Enhancemet Endowment!
I have given part of my LTAC donation to the foundation for several years. This year they would not give me credit toward football parking for any portion I proposed to give to the foundation. Thus, I did not give to the foundation this year.
I think it is a poor policy since the foundation has a chance to make a difference over time. I have a very good friend that is not buying season tickets this year because of the parking cost and the fact he cannot make all of the games. As he pointed out, it is not like we are selling out our games. Tech keeps cutting back on available parking and the prices continue to rise. My friend will buy single game tickets when he knows he will be going.
I appreciate what Justin started and I hope it will continue to grow.
another reason why loyal, long time boosters of the athletic program are walking away.
Lets be very, very careful to avoid any criticism or any adverse comments regarding the Foundation. Without them there would probably be no new press box or suites. You must remember that they loaned the athletic dept the $11mil needed to build the press box and suites. The athletic dept is obligated to repay that but there is no timeline or set amount due at any time thus it will be repaid if and when the athletic dept has the money. Only problem with this is the note is interest bearing at 5% and interest added to principal, if no payments are made, could balloon into an unimaginable amount over time.
Shhh... we make fun of the universities that get money from the he state for their projects. My thoughts are if you can get it, take it! They aren’t doing anyone any favors.
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