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Thread: Endowment Lunch Ceremony

  1. #1
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    Default Endowment Lunch Ceremony

    Today was the 6th annual endowment luncheon at the Ramada Inn.

    This year there are 81 endowed scholarship funds that provide money to the NDSU athletic department for athletic scholarships. There are another 13 scholarship funds already set up that will kick in earnings in future years. These scholarship funds are very important because they provide a foundation for permanent funding of scholarship needs. The money donated by these contributors is never spent. It is invested along with the other NDSU Development Foundation assets, and only the earnings on those funds are distributed to the athletic department. The amount of each scholarship fund varies, but most do not cover the entire scholarship cost of an athlete.

    Each scholarship fund is designated to go to an athlete or athletes in the sport of choice by the contributor. The lunch is a way for those athletes receiving the scholarships to meet those that donated the money. It was nice to meet our future starting quarterback, Nick Mertens, at the lunch today. He is the recipient of the "roadwarrior" scholarship fund!

    Erv Inniger reported that $673,000 was earned this year through this program and the Cornerstone of DI programs.

    533 In a row

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    Default Re: Endowment Lunch Ceremony

    thanks to you, roadwarrior!
    Many thousands are in want of common necessaries; hundreds of thousands are in want of common comforts, sir."
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    Scrooge-"And the Union workhouses." . "Are they still in operation?". "Both very busy, sir..."
    "Those who are badly off must go there."
    "Many can't go there; and many would rather die."
    Scrooge- "If they would rather die," "they had better do it, and decrease the surplus population."

  3. #3
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    Default Re: Endowment Lunch Ceremony

    Thanks Road! And Thanks to everyone else who supports NDSU in any way!

  4. #4
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    Default Re: Endowment Lunch Ceremony

    I'd take a bunch of guys like you road over one Ralph! Thanks and congrats.

  5. #5
    tcbison's Avatar
    tcbison is offline Senior Member Gets their mail at the West Parking Lot
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    Default Re: Endowment Lunch Ceremony

    Rep points to roadwarrior!

    17 Times Football National Champions
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    Default Re: Endowment Lunch Ceremony

    Sweet...Good job and thanks!

  7. #7
    EagleBison's Avatar
    EagleBison is offline Senior Member Gets their mail at the West Parking Lot
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    Default Re: Endowment Lunch Ceremony

    Quote Originally Posted by roadwarrior View Post
    Today was the 6th annual endowment luncheon at the Ramada Inn.

    This year there are 81 endowed scholarship funds that provide money to the NDSU athletic department for athletic scholarships. There are another 13 scholarship funds already set up that will kick in earnings in future years. These scholarship funds are very important because they provide a foundation for permanent funding of scholarship needs. The money donated by these contributors is never spent. It is invested along with the other NDSU Development Foundation assets, and only the earnings on those funds are distributed to the athletic department. The amount of each scholarship fund varies, but most do not cover the entire scholarship cost of an athlete.

    Each scholarship fund is designated to go to an athlete or athletes in the sport of choice by the contributor. The lunch is a way for those athletes receiving the scholarships to meet those that donated the money. It was nice to meet our future starting quarterback, Nick Mertens, at the lunch today. He is the recipient of the "roadwarrior" scholarship fund!

    Erv Inniger reported that $673,000 was earned this year through this program and the Cornerstone of DI programs.
    You are a great asset to NDSU RW. It was my first time, and nice to meet the athletes and see the awesome support of NDSU at the luncheon. Made for a long day of driving, but well worth the trip.
    Collector of Bison Homecoming pins - Buy or Trade

  8. #8
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    Default Re: Endowment Lunch Ceremony

    Example of donating stock:

    You bought 100 shares of stock in XYZ Corp in 1995 for $40 per share. The stock did a 2 for 1 split in 2001, so you now have 200 shares of stock. XYZ Corp has done very well over the years and the stock is now selling for $75 per share. Your original cost of the stock was $4,000 and the value today is $15,000. If you sold the stock, you would have to pay capital gains tax on the $11,000 gain.

    If you donated the stock to the NDSU Development Foundation, you would NOT have to pay any capital gains tax on the gain, since you did not sell it. The IRS then lets you take a itemized deduction in the amount of $15,000 for the gift to the university. Assuming your combined federal and state marginal income tax rate was 30%, you would save $4,500 on your income taxes in the year you made the donation.

    The original cost of $4,000 would provide you with $4,500 in tax savings. Yes, you would miss out on the $11,000 gain, but think what that would mean to NDSU!

    533 In a row

  9. #9
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    Default Re: Endowment Lunch Ceremony

    Quote Originally Posted by roadwarrior View Post
    Example of donating stock:

    You bought 100 shares of stock in XYZ Corp in 1995 for $40 per share. The stock did a 2 for 1 split in 2001, so you now have 200 shares of stock. XYZ Corp has done very well over the years and the stock is now selling for $75 per share. Your original cost of the stock was $4,000 and the value today is $15,000. If you sold the stock, you would have to pay capital gains tax on the $11,000 gain.

    If you donated the stock to the NDSU Development Foundation, you would NOT have to pay any capital gains tax on the gain, since you did not sell it. The IRS then lets you take a itemized deduction in the amount of $15,000 for the gift to the university. Assuming your combined federal and state marginal income tax rate was 30%, you would save $4,500 on your income taxes in the year you made the donation.

    The original cost of $4,000 would provide you with $4,500 in tax savings. Yes, you would miss out on the $11,000 gain, but think what that would mean to NDSU!
    You'd miss out on the $11,000 gain less the capital gains tax @ 10% or $9,900. So your $4,000 nets a $4,500 tax savings (disregarding inflation) and you get the satisfaction of donating $15,000 for the price of $5,400. You're getting almost 3 to 1 on your money.
    I have the honor to be Your Obedient Servant - B.Aud

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  10. #10
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    Default Re: Endowment Lunch Ceremony

    Quote Originally Posted by roadwarrior View Post
    Example of donating stock:

    You bought 100 shares of stock in XYZ Corp in 1995 for $40 per share. The stock did a 2 for 1 split in 2001, so you now have 200 shares of stock. XYZ Corp has done very well over the years and the stock is now selling for $75 per share. Your original cost of the stock was $4,000 and the value today is $15,000. If you sold the stock, you would have to pay capital gains tax on the $11,000 gain.

    If you donated the stock to the NDSU Development Foundation, you would NOT have to pay any capital gains tax on the gain, since you did not sell it. The IRS then lets you take a itemized deduction in the amount of $15,000 for the gift to the university. Assuming your combined federal and state marginal income tax rate was 30%, you would save $4,500 on your income taxes in the year you made the donation.

    The original cost of $4,000 would provide you with $4,500 in tax savings. Yes, you would miss out on the $11,000 gain, but think what that would mean to NDSU!
    I may need to consider this soon as all the kids will soon be out of college and off dependent status. I will need a tax break to soften the impact of the IRS and also be a benefit to Bison Athletics. Thanks for the info Road. Is the investment typically in the $4000 to $5000 range?

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