Giving Day 2024

gmujim92

Hall of Famer
GIVING DAY 2023
We are at 99 Donations! 11 more to match CTS goal!
Up to 118 now and over $88,000. Pretty respectable showing folks … usually hoops gets boat-raced by wrestling but it’s only a $10k difference this year with less than 2 hours left.
 

gmujim92

Hall of Famer
GIVING DAY 2023
Actually, scratch that — wrestling is now opening a can of whoopass on every other team as usual
 

gmujim92

Hall of Famer
GIVING DAY 2023
Final tally appears to be: 123 donors and $93,320 raised.

Lost to the wrestlers again but those folks are fundraisers on a whole other level.
 

The Great PATSby

All-Conference
⭐️ Donor ⭐️
Does anyone know how these funds are used? More specifically, are the funds raised used/exhaused within the next year? Same applies with the Patriot Club donations. I would like to see a % of these funds going towards a holding endowment that generates interest that can be used towards Atheletics in years to come.

Sorry for my ignorance if this type of information is published somewhere.
 

MasonSAE4

All-American
⭐️ Donor ⭐️
Does anyone know how these funds are used? More specifically, are the funds raised used/exhaused within the next year? Same applies with the Patriot Club donations. I would like to see a % of these funds going towards a holding endowment that generates interest that can be used towards Atheletics in years to come.

Sorry for my ignorance if this type of information is published somewhere.
Honestly, if someone set up a basketball endowment I would donate to it. I like the idea of solving our anemic fundraising by a dedicated mechanism that runs purely off interest.
 

The Great PATSby

All-Conference
⭐️ Donor ⭐️
Honestly, if someone set up a basketball endowment I would donate to it. I like the idea of solving our anemic fundraising by a dedicated mechanism that runs purely off interest.

I would too. Realistically, it would probably take many years to collect enough funds to generate material interest. But thats the beauty of compound interest over time. Gotta start somewhere.
 

gmujim92

Hall of Famer
GIVING DAY 2023
Honestly, if someone set up a basketball endowment I would donate to it. I like the idea of solving our anemic fundraising by a dedicated mechanism that runs purely off interest.
Who’s going to manage said endowment? The athletic department doesn’t have enough staff for what it has to do now, and volunteers are running the NIL collective.
 

gmujim92

Hall of Famer
GIVING DAY 2023
Does anyone know how these funds are used? More specifically, are the funds raised used/exhaused within the next year? Same applies with the Patriot Club donations. I would like to see a % of these funds going towards a holding endowment that generates interest that can be used towards Atheletics in years to come.

Sorry for my ignorance if this type of information is published somewhere.
Tony sent out an email saying the primary focus for MBB donations yesterday will be funding their overseas trip in summer 2025.
 

The Great PATSby

All-Conference
⭐️ Donor ⭐️
Who’s going to manage said endowment? The athletic department doesn’t have enough staff for what it has to do now, and volunteers are running the NIL collective.

It probably could be connected to the overall University endowment which is already managed. If not, just put it in low risk CD's or Bonds and let it sit which doesn't require much management.
 
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mkaufman1

Administrator
Staff member
⭐️ Donor ⭐️
GIVING DAY 2023
Tony sent out an email saying the primary focus for MBB donations yesterday will be funding their overseas trip in summer 2025.
That was a first. Baby steps taken to actually tell us versus generic buckets.

Hopefully next Giving Day they change it up a bit...
 

The Great PATSby

All-Conference
⭐️ Donor ⭐️
Another idea, Eagle Bank offers a pretty decent High Yield Savings account rate of 4.65% APY at the moment. Offer a promotion to the Mason community. If you open a savings account with EagleBank, EagleBank will donate a % of the bank's interest income from those accounts to George Mason Athletics. It's a win-win. EagleBank makes money by acquiring more funds to loan out and buy bonds while also taking a tax deduction on funds donated to Mason. Mason makes money off of the EagleBank donations. The Mason community can earn interest on their High Yield Savings account while still indirectly donating to Mason Athletics without actually having to donate money because you can withdraw those funds whenever.

So hypothetically, if I deposit $1,000 into a EagleBank Savings account. Annually, I make $40+ in a year in interest. EagleBank makes say conservatively $120+ off of a 12% personal loan minus the $40 they gave me. Which leaves $80. Eagle Bank then donates a small percentage of that $80 to Mason. Seems like everyone wins. This is obviously contingent on decent interest rates that fluctuate.

Please don't judge or criticize me. It's just an idea.
 
OP
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GMUgemini

Hall of Famer
⭐️ Donor ⭐️
Who’s going to manage said endowment? The athletic department doesn’t have enough staff for what it has to do now, and volunteers are running the NIL collective.

Who manages the current scholarship endowments? I’d assume the same people.
 

MasonFanatic

Moderator
Staff member
⭐️ Donor ⭐️
GIVING DAY 2023
Tony sent out an email saying the primary focus for MBB donations yesterday will be funding their overseas trip in summer 2025.
I got a similar email for nearly every sport that I donated to in the past, each one with a specific statement like this. For example, women's volleyball will use their funds for renovating their locker room. I really appreciated seeing that kind of detail.
 
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