Football donor/funding question

[P-Tizzle]

I was reading an article on The Athletic about Justin Fuente (HC at VTech) and him being dismissed and what the cost of that would be for the university. In the article, the author wrote, “Babcock told TechSideline that 15-20 donors had committed $12 million over the next five years to support football infrastructure, a much-needed boost to a program that financially has had to punch above its weight class”.

This is my question. Do athletic donors make money off of the sport they financially support? If I was a multi-millionaire and was a donor for UM, and I financially supported the university, do I make money back? And if so, how?

 

[Fluffhead]

No and that is one of the 5 dumbest questions I have seen on this site, which is saying something.

 

[P-Tizzle]

No and that is one of the 5 dumbest questions I have seen on this site, which is saying something.

Thanks.
Let me see if I can top it. What is the benefit of a donor then? Just spend 10 million on a transaction that you don’t benefit from?

 

[Fluffhead]

Thanks.
Let me see if I can top it. What is the benefit of a donor then? Just spend 10 million on a transaction that you don’t benefit from?

The first question was worse. There are some tax savings on the contribution and it may also involve estate planning, but by and large, because at a certain point of wealth, $1m, $5m, $10m is like a few thousand bucks to others. When you can buy whatever you want, ego and experiences take precedence and this is one of way to scratch that itch.

If Michigan wants to fire Harbaugh tomorrow, Stephen Ross can write the check tomorrow and wouldn’t know the money was gone from his account.

 

[Cajuncane]

The first question was worse. There are some tax savings on the contribution and it may also involve estate planning, but by and large, because at a certain point of wealth, $1m, $5m, $10m is like a few thousand bucks to others. When you can buy whatever you want, ego and experiences take precedence and this is one of way to scratch that itch.

If Michigan wants to fire Harbaugh tomorrow, Stephen Ross can write the check tomorrow and wouldn’t know the money was gone from his account.

Or from under his couch cushions

 

[TallyCane]

Thanks.
Let me see if I can top it. What is the benefit of a donor then? Just spend 10 million on a transaction that you don’t benefit from?

Cause they love there school but probably cause they want to have a influence on the program and be know as the big donor.

 

[Baba Yaga]

If I could burn half my fortune tonight and still wake up knowing my great-grandchildren would never have to work a day in their lives, our bag-network would make the $EC squirm.

 

[CashMoneyCane]

No and that is one of the 5 dumbest questions I have seen on this site, which is saying something.

Probably top 3, ESPECIALLY in relation to a state school that is entirely non-profit.

There's no such thing as stupid questions, just stupid people.

 

[SPAMM]

If I could burn half my fortune tonight and still wake up knowing my great-grandchildren would never have to work a day in their lives, our bag-network would make the $EC squirm.

I represent someone selling a bridge from Manhattan to one of the newly popular boroughs. You interested?

 

[CashMoneyCane]

Thanks.
Let me see if I can top it. What is the benefit of a donor then? Just spend 10 million on a transaction that you don’t benefit from?

Ugh. Jesus.

One, charitable donations earn tax benefits.

Two, I know this is going to come as a crazy shock to all the 'Canes "fans" on here who have never donated a cent to the university, but some people want their football program to do well, and are ACTUALLY WILLING TO SUPPORT IT WITHOUT GETTING SOMETHING IN RETURN.

 

[CashMoneyCane]

I represent someone selling a bridge from Manhattan to one of the newly popular boroughs. You interested?

Is that the one to the fast-growing borough of Greenland?

It sounds like a no-brainer.

 

[P-Tizzle]

Ugh. Jesus.

One, charitable donations earn tax benefits.

Two, I know this is going to come as a crazy shock to all the 'Canes "fans" on here who have never donated a cent to the university, but some people want their football program to do well, and are ACTUALLY WILLING TO SUPPORT IT WITHOUT GETTING SOMETHING IN RETURN.

“Charitable donations earn tax benefits”.

So then they do receive benefit(s).

 

[Brains]

If I could burn half my fortune tonight and still wake up knowing my great-grandchildren would never have to work a day in their lives, our bag-network would make the $EC squirm.

Oh, if it were up to me, you'd need a small army to take down our bag network. Alas, I'm a regular, everyday normal guy.

 

[Fluffhead]

Probably top 3, ESPECIALLY in relation to a state school that is entirely non-profit.

There's no such thing as stupid questions, just stupid people.

Miami is entirely non-profit too and it would have the same tax effect to the donor.

However, one change from the Cares Act that a lot of people overlooked is for 2020, the charitable contribution limit was raised from 60% of AGI to 100% if someone itemizes.

 

[P-Tizzle]

Miami is entirely non-profit too and it would have the same tax effect to the donor.

However, one change from the Cares Act that a lot of people overlooked is for 2020, the charitable contribution limit was raised from 60% of AGI to 100% if someone itemizes.

Thanks. I appreciate the information.

 

[gogeta4]

These are the guys likely dropping bags in clemson recruitments.

https://iptaycuad.com/

https://www.greenvilleonline.com/st...y-athletics-fundraising-arms-race/1445681001/

Donor in the article says if he doesnt give to Clemson they would be Duke or Wake lol

 

[Fluffhead]

“Charitable donations earn tax benefits”.

So then they do receive benefit(s).

Meant to respond to your question for what year. The year of the contribution, up to the limit, and can can carry the excess forward for five years.

There is this benefit but it is ancillary and not the driving factor when you are talking about firing a coach. If you’re talking about donating for a building, that’s probably more planned out for the benefit. If you’re a big enough fan and that wealthy and a coach needs to go, you are doing it because of your fandom, not some tax benefit.

 

[P-Tizzle]

The year of the contribution, up to the limit, and can can carry the excess forward for five years.

So with all that money needed from donors, they pretty much run the program then?

 

[Fluffhead]

So with all that money needed from donors, they pretty much run the program then?

I honestly can’t tell if you’re taking the **** or if these are genuine questions. Yes, there is a reason the people on the board of trustees are there. And there is a reason Boone T. Pickens at Oklahoma State or Phil Knight at Oregon or Paul DiMare at Miami have the access and input they have.

 

[P-Tizzle]

I honestly can’t tell if you’re taking the **** or if these are genuine questions. Yes, there is a reason the people on the board of trustees are there. And there is a reason Boone T. Pickens at Oklahoma State or Phil Knight at Oregon or Paul DiMare at Miami have the access and input they have.

I’m asking because coaches like Fuente, Harbaugh, and Pruitt have been awful hires. But with 2020 being a year of financial loss, would these universities make a coaching change. And yes, I know that Pruitt recently signed an extension. But if donors have the money, I’m assuming they have the power. If the donors say, “hey we can pay buyouts for current staff of fires and pay salaries for new staff, how much influence does that have? Will ADs make the change?