FSU Athletic Endowment Update

https://floridastate.forums.rivals.com/threads/lets-talk-fsu-scholarships-and-endowment.125853/


This is a $50,000 scholarship from the Panama City Seminole Club for a football scholarship. This year their scholarship was given to Trey Marshall. As you can see the scholarship made $3,309 in interest this year and has made $17,857 in the little over 5 years since they endowed this scholarship. The total value of this scholarship is 67,857 over the life. Of course it takes more than one $50,000 scholarship to fund Mr. Marshall's education, housing, meals, etc so there are probably other donors with Mr. Marshall as the student athlete their scholarship supports. Boosters tries to give you a student athlete close to your location (Bay County will have Janarious Robinson this coming fall, the 1st player since Bert Reed)




Here is our Seminole Booster Athletic Endowment report. As you can see it was at $53,425,635 and after addition and subtraction we ended 2015 at $56,295,549. To fully endow we need somewhere in the ballpark of $250,000,000 and the cost rises annually. Our numbers are low mainly because we only started football in 1948 and most people that leave scholarship endowments usually leave larger amounts in their wills. While most of the larger schools have been playing since the 1800s and have had generations that have passed and left their school in their wills we have some of our fans that are still alive that went to school here in 1948. My uncle Cal graduated in 1952 and is still kicking around at 90 something years old. It takes generations to fully endow a whole athletic departments scholarships and we have 20 sports with scholarship athletes costing the athletic department over 9,500,000 per year. The far majority of our scholarship costs are currently paid from annual donations from our Booster memberships (Chiefs, Tomahawks, Renegade, etc.) Imagine if that could be achieved through a permanent endowment and how powerful that would be financially for the athletic department?


If anybody would like to talk about how they could help endow a scholarship through a gift paid annually (many of our donors do this as a pledge over a period of 5 years)or leaving a legacy by endowing a scholarship through their will or trusts, I would love to talk to you. The principal would never be spent and the returns would fund athletic scholarships for eternity making you a Seminole Booster in this life and the next. The endowment fund you create can be in your name and will be recognized publicly in the Moore Athletic Center. Some advantages to giving back in this way include the ability to be able to write your gift as a deduction to help with income tax or possibly helping with estate tax problems. Other tax savvy strategies could include giving appreciated securities or land that could save with capital gains tax and income tax. Bottom line, is that there are many ways to give back, not just writing a check. Talk to us about gift planning and giving back, every person is different, we can help you with how to achieve your philanthropic goals as well as your personal financial goals, there are tools that can help with both. There are over 500 student athletes at FSU in need of scholarship support, an endowed scholarship is a fantastic way to help a student achieve their dreams.


You can contact me at any time at jamnolfin@hotmail.com or 850 527 0701

 

1 jamnolfin, Today at 1:10 AM