Burton: “We want to be a leader in NIL in Group of Five”

[JMick]

Someone has to have been giving a lot in recent years. The endowment has grown from $53 million in 1995 (the year of our first National Championship) to well over $600 million recently.

So we didn't outpace the stock market. That's not great lol

 

[CCSUblue]

Someone has to have been giving a lot in recent years. The endowment has grown from $53 million in 1995 (the year of our first National Championship) to well over $600 million recently.

It's not just giving though, it's investment too.

For instance, Texas's endowment is so huge (50b) in part because they co-own (with A&M - 19b) over 2 million acres of land in the Permian Basin.

University of Texas System’s Oil and Gas Participation Fuels Bid to be Biggest Endowment | Chief Investment Officer

The University of Texas System endowment’s oil and gas revenues from its 2.1 million acres of land in the West Texas Permian Basin has it competing with Harvard for biggest endowment by net assets.

www.ai-cio.com

 

[huskymedic]

 

[ZooCougar]

Litchfield County, Fairfield County, New Haven County, and Hartford County should be enough.

So where is the private money that is supposedly flowing into UConn?

That’s not enough.

 

[husky429]

We are a Power school, not a G5 school.

Lol, have you seen our football team?

 

[BigTenFan]

If UConn is ranked 5th in state support-it tells me they are very poorly run

 

[UConnJim]

If UConn is ranked 5th in state support-it tells they are very poorly run

Here is a chart listing support by state. If you look at the 15 year growth in state funding, you will understand why UConn has had to ramp up fund raising. Basically, Connecticut has kept pace with inflation:

https://shef.sheeo.org/report-2/?report_page=state-funding-and-enrollment

 

[BigTenFan]

Here is a chart listing support by state. If you look at the 15 year growth in state funding, you will understand why UConn has had to ramp up fund raising. Basically, Connecticut has kept pace with inflation:

https://shef.sheeo.org/report-2/?report_page=state-funding-and-enrollment

That's some great data- Thanks for sharing

 

[Patman]

How is the Damelio Collective a for profit entity? What does that even mean? He pockets any money that he doesn't spend?

while it is important to keep on top of things for profit vs not for profit often comes down to tax issues and governance structures. If all the money is being spent on business then taxes are minimal in the for profit version but leadership is more stable because whoever owns the venture keeps the venture. Not for profits conversely can pay themselves out perverse money and is beholden to a board which may have its own interests in mind.

 

[ZooCougar]

Here is a chart listing support by state. If you look at the 15 year growth in state funding, you will understand why UConn has had to ramp up fund raising. Basically, Connecticut has kept pace with inflation:

https://shef.sheeo.org/report-2/?report_page=state-funding-and-enrollment

Horrendous

School needs a steady run of competent leadership.

 

[DoctorWho85]

I'm glad Burton is back on board. We should have listened to him 12 years ago.

 

[huskymedic]

I'm glad Burton is back on board. We should have listened to him 12 years ago.

This is Robert Burton’s son…

 

[J187Money]

For profit doesn’t necessarily mean he is profiting off of it- a lot of the “non-profit” collectives have had challenges proving their non-profit status. A lot of collectives take the money needed to cover operating costs and allocate the rest to athletes

Because they are just handing out money.

The Bleeding Blue collective - they ask for the students to do something for charity in return for their money. Also means that Bleeding Blue is tax deductible, but giving to D'Amelio isn't.

 

[BigTenFan]

Horrendous

School needs a steady run of competent leadership.

I just got my two kids Spring semester tuition bills....not UConn
Just trying to scrape together enough money to get them through school.

 

[PackTheRent]

So we didn't outpace the stock market. That's not great lol

Haha. Yeah, he did not run the math. The people who run the endowment must be morons. Collectively we are bad at supporting the school by giving $. But why give when the state can pay for stuff.

 

[PackTheRent]

I am skeptical of the D'amelio collective. 10% goes to overhead per website. So if it gets up to $3 million then $300k for overhead??? That buys a lot of nice dinners and travel expenses and tickets for sporting events. And we get no say in which athletes get the money. Sounds sketchy?!!!!!

 

[PackTheRent]

How is the Damelio Collective a for profit entity? What does that even mean? He pockets any money that he doesn't spend?

Your question is on the right track. It may buy nice dinners to discuss "fundraising"

 

[PackTheRent]

Many of UConn's most fanatical fans didn't go to UConn and are from the state. It's the pro team for the state. You don't need to be a wealthy grad to donate money to the school.

Almost all the fanatical fans i know are alums or have kids that go there. Otherwise, very few people care enough to attend a game (except a big bball game) let alone donate significant money. We have pro teams to northeast and southwest and that's what people care about. And they are as bad as Uconn football right now. Connecticut is the center of sports hell in football, baseball, and hockey.

 

[J187Money]

Haha. Yeah, he did not run the math. The people who run the endowment must be morons. Collectively we are bad at supporting the school by giving $. But why give when the state can pay for stuff.

Did he factor in the outflows? It isn't like you just put $50M in the market and let it ride forever.

 

[cullaville]

Connecticut is the wealthiest state per capita and our AD budget is larger than any of the 24/25 G5 programs.

Per Capita is true but I am guessing that this # is skewed. The largest earners are probably a lot higher than the national average and skews the total per capita because of CTs relativity small population. Then you need to assume that a lot of these higher earners have an interest in sports and specifically UCONN to contribute to NIL.

CT's population of about 3.6m. Compare this to FL population of 21.2m. That is a much larger population that may be willing to donate, although in smaller per person contributions, but the overall amount has the potential to be greater.

Just because the per capita is greater does not necessarily mean that CTs NIL should be the highest in the nation.

 

[superjohn]

Almost all the fanatical fans i know are alums or have kids that go there. Otherwise, very few people care enough to attend a game (except a big bball game) let alone donate significant money. We have pro teams to northeast and southwest and that's what people care about. And they are as bad as Uconn football right now. Connecticut is the center of sports hell in football, baseball, and hockey.

Almost all the fanatical fans I know didn't go to UConn. They're fanatical about UConn men's basketball, have always had season tickets...some going back like 50 years.

Don't really understand your point about pro sports. Michigan, Wisconsin, Indiana, Ohio etc. all have pro sports in their states, Connecticut doesn't.

 

[BigTenFan]

Per Capita is true but I am guessing that this # is skewed. The largest earners are probably a lot higher than the national average and skews the total per capita because of CTs relativity small population. Then you need to assume that a lot of these higher earners have an interest in sports and specifically UCONN to contribute to NIL.

CT's population of about 3.6m. Compare this to FL population of 21.2m. That is a much larger population that may be willing to donate, although in smaller per person contributions, but the overall amount has the potential to be greater.

Just because the per capita is greater does not necessarily mean that CTs NIL should be the highest in the nation.

Florida also has many more Public Institutions including 2 state flagship Universities.
We only have 1

 

[FfldCntyFan]

Because they are just handing out money.

The Bleeding Blue collective - they ask for the students to do something for charity in return for their money. Also means that Bleeding Blue is tax deductible, but giving to D'Amelio isn't.

I imagine that the use of the donation will be the determining factor for Bleeding Blue contributions.

The IRS has already deemed donations for the purpose of NIL as nondeductible.

 

[UConnJim]

UConn did a good job developing the football fan base until the Fiesta Bowl. Then the program started a slow decline during the PP years and the decline accelerated under Diaco and RE 2.0. It seemed like the school was not focused on building the football program as they didn’t invest, but I sense the attitude has changed the last 2 years.

You have to developed the fan base before you can find the donors.

 

[J187Money]

I imagine that the use of the donation will be the determining factor for Bleeding Blue contributions.

The IRS has already deemed donations for the purpose of NIL as nondeductible.

https://apps.irs.gov/app/eos/

If you go here and search for Bleeding Blue for Good - you will find the IRS 501c3 letter stating that donors can deduct contributions under IRC Section 70.

The D'Amelio collective has no such letter that I can find.

 

[cullaville]

Florida also has many more Public Institutions including 2 state flagship Universities.
We only have 1

My idea is that just because CT has the greatest per capita income the wealth is concentrated in fewer individuals. A state with a greater (much greater) population may actually have more high earning individuals than CT willing to contribute to an NIL program.

 

[BigTenFan]

My idea is that just because CT has the greatest per capita income the wealth is concentrated in fewer individuals. A state with a greater (much greater) population may actually have more high earning individuals than CT willing to contribute to an NIL program.

I agree- and actually only having only 1 state Flagship should make it easier to concentrate dollars rather than Michigan/MSU, Florida/FSU etc..

 

[PackTheRent]

Almost all the fanatical fans I know didn't go to UConn. They're fanatical about UConn men's basketball, have always had season tickets...some going back like 50 years.

Don't really understand your point about pro sports. Michigan, Wisconsin, Indiana, Ohio etc. all have pro sports in their states, Connecticut doesn't.

Interesting viewpoint on fanatical fans. Due to the small size of CT relative to midwest states, the average fan here probably has a shorter drive to pro sports than in WI OH etc. UConn football is not a sub for pro sports since we have good access on this area.

 

[MTHusky]

I am skeptical of the D'amelio collective. 10% goes to overhead per website. So if it gets up to $3 million then $300k for overhead??? That buys a lot of nice dinners and travel expenses and tickets for sporting events. And we get no say in which athletes get the money. Sounds sketchy?!!!!!

10% for a non-profit startup charity's overhead is very low let alone for a for profit organization. In general, QuickBooks recommends that a nonprofit should try not to exceed an overhead ratio of greater than 35%. It’s often recommended that you should attempt to reach an overhead rate of less than 10%. Anywhere between these two rates is the standard breadth you’ll find most nonprofits

 

[FfldCntyFan]

https://apps.irs.gov/app/eos/

If you go here and search for Bleeding Blue for Good - you will find the IRS 501c3 letter stating that donors can deduct contributions under IRC Section 70.

The D'Amelio collective has no such letter that I can find.

The D'Amelio is not a 501c3.

I imagine (as bleeding blue is also gong to participate as an NIL collective) that they will provide confirmation of taxable status for all donations. If a donation to them is directed (by the donor) for NIL us, that donation won't be deductible.