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Thread: Athletic Dept Endowment Funds

  1. #1
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    Default Athletic Dept Endowment Funds

    There are two endowment funds at NDSU specifically for the Athletic Department:

    Scholarship fund - earnings from these endowments help pay for student athlete scholarships. The remainder is paid by Teammakers. This fund is now over $38 million.

    Program operations fund - earnings from these endowments help support specific sports expenses. This fund is now over $11 million.

    Read the article released by NDSU yesterday:

    https://gobison.com/news/2020/5/18/g...for-bison.aspx

    The following has allowed me to pay zero income tax to the state of North Dakota the past five years.

    All donations made to the NDSU Athletics endowment fund are 100 percent tax-deductible charitable gifts. North Dakota residents may take an additional 40 percent state income tax credit.

    533 In a row

  2. #2
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    Default Re: Athletic Dept Endowment Funds

    There are 212 endowment funds which provide support for athletic scholarships. For the 2021-2022 year, the earnings from those endowments will provide $1,365,000 to NDSU for scholarship costs. The principal value has grown to over $40 million.

    Nearly 80 of the endowments are funded by former NDSU student athletes.

    533 In a row

  3. #3
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    Default Re: Athletic Dept Endowment Funds

    Wow good info. I didn't realize we had an endowment fund. Long term, that could be a monster. Right now it's paying 20% of all scholarships just based on existing.
    .


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  4. #4
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    Default Re: Athletic Dept Endowment Funds

    So a $200 million endowment would pay for all scholarships at present levels?
    Get your BB tickets now!!!

  5. #5
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    Default Re: Athletic Dept Endowment Funds

    Quote Originally Posted by Gully View Post
    So a $200 million endowment would pay for all scholarships at present levels?
    By my amateur math it's close. If 40 million provides $1.5 million of the $5.8 million scholarship bill, wouldn't 160 million be 6 million?

    If that can keep growing, Teammakers role could change and they could take on building projects
    .


    17X National Champions: 65, 68, 69, 83, 85, 86, 88, 90, 11, 12, 13, 14, 15, 17, 18, 19, 21

    Join the Green and the Gold Collective to take Bison football to the next level. Starts at $10 a month

    The Green and The Gold Collective is excited to announce our #DriveToFive membership campaign. The goal of this campaign is to get to 500 monthly members. Reaching this goal will help us provide financial support to NDSU student athletes, including every returning member of the football team that saw action on the field last year!

    https://thegreenandthegold.com

  6. #6
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    Default Re: Athletic Dept Endowment Funds

    Quote Originally Posted by HerdBot View Post
    By my amateur math it's close. If 40 million provides $1.5 million of the $5.8 million scholarship bill, wouldn't 160 million be 6 million?

    If that can keep growing, Teammakers role could change and they could take on building projects
    Teammakers is raising the money and paying for the new outdoor track. So it is already happening.

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  7. #7
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    Default Athletic Dept Endowment Funds

    Already posted

  8. #8
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    Default Re: Athletic Dept Endowment Funds

    This is great stuff and informative. I have a question for the Tax\CPA folks out there. The endowment page references all charitable contributions are 100% tax deductible, and then references the ND Tax effect. The vast majority of us mature folks now take the standard deduction (since it's increase) vs itemizing....primarily because we are on the back 1/3 of mortgages and live in a relatively low tax state. So, the question....Is the 100% tax deductible statement still accurate?

  9. #9
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    Default Re: Athletic Dept Endowment Funds

    Quote Originally Posted by fanbison View Post
    This is great stuff and informative. I have a question for the Tax\CPA folks out there. The endowment page references all charitable contributions are 100% tax deductible, and then references the ND Tax effect. The vast majority of us mature folks now take the standard deduction (since it's increase) vs itemizing....primarily because we are on the back 1/3 of mortgages and live in a relatively low tax state. So, the question....Is the 100% tax deductible statement still accurate?
    I’m not a tax professional so do not construe this as actual advise but my understanding is that there is a limited deduction available to those who take the standard deduction for cash contributions to certain qualified charities limited to something like 600 dollars.
    I have the honor to be Your Obedient Servant - B.Aud

    We all live in stories... It seems to me that a definition of any living vibrant society is that you constantly question those stories... The argument itself is freedom. It's not that you come to a conclusion about it. Through that argument you change your mind sometimes... That's how societies grow. When you can't retell for yourself the stories of your life then you live in a prison... Somebody else controls the story. - S. Rushdie

  10. #10
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    Default Re: Athletic Dept Endowment Funds

    Thank you...I was coming to the same conclusion, hoping for a different result

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