http://www.tribeathletics.com/news/2016/...r-mtn.aspx

These stunning endowments will ensure our women's soccer and men's tennis programs will be nationally competitive at the highest levels in future years. By endowing the salaries of the two sports respective coaches it will allow the use of the money we spend from the athletic budget to go towards recruiting, scheduling, etc.

Now we need to get the same type of endowments for basketball.

(04-14-2016 07:19 AM)BigTribe2 Wrote:  http://www.tribeathletics.com/news/2016/...r-mtn.aspx

These stunning endowments will ensure our women's soccer and men's tennis programs will be nationally competitive at the highest levels in future years. By endowing the salaries of the two sports respective coaches it will allow the use of the money we spend from the athletic budget to go towards recruiting, scheduling, etc.

Now we need to get the same type of endowments for basketball.

------------------------------------------------------------------------
How much are these "endowments" for in terms of $$$?? I think it is great that these alums would do this but the Press Release contains no real details.

For so many years W&M's athletic department was underfunded and donations were maybe, not as strong as it could have been. In the past ten years large commitments have been made for facilities like The Laycock Center, lights and now renovations to Zable, indoor baseball facility, and now a generous gift for two non revenue sports and, I may be overlooking other gifts. I congratulate all who made the commitments to The College and to those who did the work to stimulate these projects.

Well, I guess with this gift will ensure these two fine programs cannot be cut to help start a W&M men's lacrosse program .... Lol

Let's hope these gifts inspire other successful alums (athlete or not) to take the plunge. Piggybacking/Domino effect might be ripe for the picking.

If $1M is enough to endow one scholarship player for $25K or so, Im guessing a coaching endowment would be somewhere around 10-15M

(04-14-2016 10:12 AM)nogretheogre Wrote:  Let's hope these gifts inspire other successful alums (athlete or not) to take the plunge. Piggybacking/Domino effect might be ripe for the picking.

If $1M is enough to endow one scholarship player for $25K or so, Im guessing a coaching endowment would be somewhere around 10-15M

$2.5 million would endow about $100,000.

(04-14-2016 10:12 AM)nogretheogre Wrote:  Let's hope these gifts inspire other successful alums (athlete or not) to take the plunge. Piggybacking/Domino effect might be ripe for the picking.

If $1M is enough to endow one scholarship player for $25K or so, Im guessing a coaching endowment would be somewhere around 10-15M

I think you're overestimating what a women's soccer or men's tennis coach makes. The head coach makes about 60k, an assistant 30k for women's soccer, and tennis is about the same.

(04-14-2016 10:18 AM)Tribe4SF Wrote:  

(04-14-2016 10:12 AM)nogretheogre Wrote:  Let's hope these gifts inspire other successful alums (athlete or not) to take the plunge. Piggybacking/Domino effect might be ripe for the picking.

If $1M is enough to endow one scholarship player for $25K or so, Im guessing a coaching endowment would be somewhere around 10-15M

$2.5 million would endow about $100,000.

---------------------------------------------------------------------------
So nobody knows. The dollars involved with the Zable upgrade was/is public as well as names of the principal donors and the amounts given, The amount raised for the Laycock Center was public and had multiple donors. The names of the guys who donated for the Stadium lights was public as well as the cost of the lights. Jim Kaplan and his wife donated $7 Million to support the Tribe Mens basketball program - much of it as an endowment for scholarships.

(04-14-2016 10:40 AM)TDenverFan Wrote:  

(04-14-2016 10:12 AM)nogretheogre Wrote:  Let's hope these gifts inspire other successful alums (athlete or not) to take the plunge. Piggybacking/Domino effect might be ripe for the picking.

If $1M is enough to endow one scholarship player for $25K or so, Im guessing a coaching endowment would be somewhere around 10-15M

I think you're overestimating what a women's soccer or men's tennis coach makes. The head coach makes about 60k, an assistant 30k for women's soccer, and tennis is about the same.

Was thinking more in line of what it would take to endow BBall and Fball -
300K-500K/year

Because we are a public university, do the amounts need to be disclosed or can the Mackesys (the donors) keep such amount quiet if they choose as a condition of donating the funds?

There are many gifts to the school in which $$$ amounts are never announced as well as those where the names of donors are not made public (anonymous gifts). The Tribe Club and other W&M fund drives are private.

Since these soccer & tennis gifts are described as program changing and will endow the coaches salaries each year you have to figure they are in the millions.

A wonderful gesture and a great day for these two longtime sports at W&M.

Perhaps we'll see men's tennis return to the halcyon days of Bernard Bartzen, Fred Kovaleski and Gardner Larned when W&M won two consecutive NCAA Team Championships in the late 1940s and won 86
dual matches in a row.

And we should see, with the funds now available to do it, aggressive international recruiting by the Tribe for its woman's soccer program.

One thing worth highlighting (particularly given some of the discussion on other threads):

"The endowments will allow each program to draw on the funds that would have otherwise been steered to the salaries of the head coaches and use them to enhance its operating budget. Both programs will be able to use 100% of the funds donated for this purpose."

Glad that the money freed up from the endowment will stay in each program. I know there was concern about donations to basketball causing the funds they "displace" to go elsewhere resulting in no net gain for the sport. It sounds like that is NOT the case with this gift, and hopefully is a trend going forward.

That was my big takeaway from the release, as well. There was a time, all too recently, when that wasn't the case.

(04-14-2016 12:33 PM)BigTribe2 Wrote:  There are many gifts to the school in which $$$ amounts are never announced as well as those where the names of donors are not made public (anonymous gifts). The Tribe Club and other W&M fund drives are private.

Since these soccer & tennis gifts are described as program changing and will endow the coaches salaries each year you have to figure they are in the millions.

A wonderful gesture and a great day for these two longtime sports at W&M.

Perhaps we'll see men's tennis return to the halcyon days of Bernard Bartzen, Fred Kovaleski and Gardner Larned when W&M won two consecutive NCAA Team Championships in the late 1940s and won 86
dual matches in a row.

And we should see, with the funds now available to do it, aggressive international recruiting by the Tribe for its woman's soccer program.

--------------------------------------------------------------------------
At W&M these days, everything is described as "program changing". Endowing a coach's salary does not necessarily mean that the entire coach salary is paid for by an endowment.

Tribe gals crushed JMU to win another CAA Title.