it ain't boone pickens level, but this is a damned nice thing!
http://www.colorado.edu/news/r/1ead08b57c081531a504dad2ac4400d2.html
http://www.colorado.edu/news/r/1ead08b57c081531a504dad2ac4400d2.html
But Reed had always loved athletics. A passion for skiing inspired her to teach for a period in Telluride, where she was paid in gold nuggets.
What a wonderful gift!
Also, I couldn't help but to notice this...erm...nugget...
Turns out TBD is on to something after all.
What a wonderful gift!
Also, I couldn't help but to notice this...erm...nugget...
Turns out TBD is on to something after all.
I wonder how they'll use it. Endowment, perhaps? No, I know that that's a piddly amount for an endowment, but it would pay for 4-5 scholarships a year.
It will endow 10 schollies per the article.
OK. I was just doing my own math and guestimating at the annual cost of a scholarship. So yeah, I would think that would be a good start. I heard through some kind of grapevine that USC's entire athletic department is funded via endowments. That has to be pretty nice.
Very nice. Does anyone have an idea how to explain in what ways this will benefit the AD? Will it free up money for things like the basketball facility? Or, something else?
But she specifically focused on football and men's/women's basketball. Does this money automatically go into the CU Fund?After I actually read the article, it mentions that the funds are to be used to fund athletic scholarships. If they do establish an endowment (or add to an existing one), then it will allow the AD to spend those funds on other things in coming years.
In roundabout figures, I'd guess that CU has something in the area of 200 athletes on scholarship. This would fund 5% of that annual cost.
Wow that is amazing.
She sounded like an interesting woman.
What a wonderful gift!
Also, I couldn't help but to notice this...erm...nugget...
Turns out TBD is on to something after all.
But she specifically focused on football and men's/women's basketball. Does this money automatically go into the CU Fund?
Very nice. Does anyone have an idea how to explain in what ways this will benefit the AD? Will it free up money for things like the basketball facility? Or, something else?
My interpretation is that the gift endows 10 scholarships on the FB and BB teams. This means the AD could take funds normally directed towards these scholarships and allocate that money elsewhere. That might include debt service, facility upgrades, equipment, coaching salaries, whatever.
I could see how a school like Stanford might have 50 donors for every Louise Reed at CU, thereby endowing 500 Stanford scholarships. With that kind of dosh, it gets easier to understand how Stanford can field all those sports programs.
Maybe a few sugar daddies are out there who can match or exceed the generocity of Ms. Reed. She didn't even get her degree from CU and she is the record setter.
Bu wha if they use the money for the schollys and take what is saved from the AD.