There is no excess cash from operations, there is a shortfall of cash.
Ketch's 10 Thoughts From The Weekend (It's a put up or shut up NIL world)
- Thread starter Ketchum
- Start date
Hey boss,
I'm guessing you've read my stance on the current NIL world and really more how I believe CFB leadership has a history of failure in these areas.
I stated several times but want to be direct, I appreciate yours (and others) efforts into making lemonade out of the lemons. What you and your team are doing is far beyond what I, and many others, would even consider doing. I am NOT a fan of the overall system, but I am a fan of those who put great effort into making it a little better. Best of luck, hope it gets easier for you!
No excess for $25k at least? Have y'all researched what it would take to start one yet? If I were to let's say be able to garner enough to get $25k (I am a major gift officer for a prominent UT institution as a career) would you be able to apply that to an endowment without using it on operations for example?
BTW thank you for all that you, the Texas One board, and the donors have done to this point.
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So, you could not start an endowment even if someone had the funds to specifically do so? Also, do you have any type of planned giving program in place?
I apologize for the questions. Just trying to see if I can help brainstorm.
It is a very common conversation we are having with a lot of folks that aren't comfortable with NIL for football, which makes it a very easy segway to ask them to get involved with our other sports that aren't full scholarship. Austin's cost is living is dramatically higher than our SEC competitors and most of the SEC states have state lotto programs and other ways to make their student-athletes fully whole financially. The SEC fanbases really, really care about collegiate sports.
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We could definitely start one if funds were available but folks giving 25k right now want it to go to winning on Saturdays. We need Elon to get some burnt orange in his blood stream or Michael Dell to kick us some allowance money.
I may be able to pledge $25k with the help of some other UT buddies I have if it went to starting the endowment. That said, I know you need that money yesterday particular for endowment purposes (usually takes 12-16 months before they begin spinning off usable funds once they meet 20% of endowment minimum). Do you have any major gift fundraisers or people with that type of experience helping to advise the group right now?
There are definitely major gift prospects of that level and much more out there for something like this. Happy to help if needed.
Well, everyone is now seeing what the culture of the Texas fan base is when the rubber hits the road. Not that’s it’s all bad, it’s not, but it presents unique challenges that they don’t have at places like Auburn. I worked in fund raising here for a number of years and learned a lot about the different fanbase cultures and how it impact’s financial decisions. It’s been bantered about forever that we are passive and a more wine and cheese crowd, and it’s fun to joke, but it isn’t all a joke. It’s just going to be a process, which they are figuring out and navigating now.
