Kinda OT: Quick question

[HistoryHusky]

Does the Boneyard have a foundation or endowment fund? I am asking because people donate money to UConn Foundation, UConn Athletics, etc and I wonder if a such fund exists at the Boneyard. If not, I think it's a great idea to set up one at the Boneyard. I don't know how this can be done legally. Just an idea - posters and people can donate money to the Boneyard. The fund can be used to send students to a bowl game or Final Four, something like that. I could go on about this stuff but I want to hear from you guys if this is something that can be done.

 

[Sportsman5]

Maybe the money can be used to buy student season tickets for a group of very enthusiastic students who can help paint kids faces, hand out free UConn stickers/ pins etc at tailgates, and organize some sort of tradition where all students go into the stadium together 20 minutes before kickoff

 

[HistoryHusky]

There's not much response here. My question was if it is possible to set up a fund within the Boneyard - I see people have ideas on this board, the Boneyard fund can be used to support these projects, ideas, student season tickets, etc. Even supplies and paper/cardboard for the students to make signs for the game. Maybe the money can be used for a new tradition - like Annual Boneyard Tailgate for the football, basketball, other sports game. This includes donations for select charity organizations as well.

 

[Skiblets]

No Foundation that I'm aware of. The Board has done some great things over the years including donations to the Calhoun Cancer Center, sending four or five students to the Fiesta Bowl etc. Not sure if it can be done legally but episodically this board has been very generous.

 

[Bill Sussman]

No Foundation that I'm aware of. The Board has done some great things over the years including donations to the Calhoun Cancer Center, sending four or five students to the Fiesta Bowl etc. Not sure if it can be done legally but episodically this board has been very generous.

I don't see why it couldn't be done legally in my expert non lawyer opinion. As long as the money isn't being distributed to student athletes.

How about opening up a Super PAC as well?

 

[Jarhead_1775]

The hardest part is the management thereof. I wouldn't want to do it. Who decides where money goes? Sounds a lot like you'd need a board. Now you need by-laws, etc. invariably there'd be one guy who didn't like what was being done with the money, demand an audit... See where this is going?

 

[Skiblets]

Agreed. This board has shown tremendous generosity in the past but also can take the most innocent thread and turn it into an ugly pissing match. Think episodic contributions are the way to go as management of a fund would be a disaster..

 

[CL82]

There is no reason why one couldn't be established, but it is way more efficient to use the UConn Foundation. They've been good, supportive partners in the past and bring experience and resources that we would need to recreate otherwise.

 

[FfldCntyFan]

This could be set up painlessly if we didn't concern ourselves with deducting any of the contributions. If we wanted to do that, the entity receiving funds would need to qualify as a 501(c) private charitable foundation (not willing at the moment to get into public charitable foundations) and with that, activities such as aiding a student's trip to the final four would not fly.

If there were specific, truly charitable UConn athletics related causes, using the UConn Foundation as a conduit (as we did when JC retired) would make the most sense while setting up a fund for non charitable purposes could solve the other issues.