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re: Who are these billionaire LSU boosters that are throwing money around?

Posted on 11/28/15 at 12:43 am to
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 11/28/15 at 12:43 am to
quote:

So you're telling me that LSU shields their donor contributions from public record altogether?


Very rarely, and in insignificant amounts, does a donor make a gift directly to the University.

They are made to Tiger Athletic Foundation for athletics, or the LSU Foundation for academics. These are 501c3's for the sole benefit of LSU but are not state-entities. Therefore their records are shielded from public records laws.
Posted by ipodking
#StopTalkingAboutWomensSports
Member since Jun 2008
56295 posts
Posted on 11/28/15 at 12:43 am to
Shaq is giving us the money he made from those Gold Bond commercials.
Posted by The Third Leg
Idiot Out Wandering Around
Member since May 2014
10046 posts
Posted on 11/28/15 at 12:49 am to
The revenues are still reported when the money is transferred into the AD for use. If there were ten million dollar gifts just flowing in, don't you think they would spend it here and there?
Posted by fightin tigers
Downtown Prairieville
Member since Mar 2008
73681 posts
Posted on 11/28/15 at 12:51 am to
quote:

The revenues are still reported when the money is transferred into the AD for use. If there were ten million dollar gifts just flowing in, don't you think they would spend it here and there?



So, you are saying, if I make a donation to TAF and then TAF makes a donation to LSU my name is reported?

I just want to make sure I get your story straight.

Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 11/28/15 at 12:53 am to
quote:

The revenues are still reported when the money is transferred into the AD for use.


It depends. A good bit of the time the money is spent directly by the foundation. e.g. Construction projects.

Even if it's transferred, there aren't donor names attached.
This post was edited on 11/28/15 at 12:55 am
Posted by The Third Leg
Idiot Out Wandering Around
Member since May 2014
10046 posts
Posted on 11/28/15 at 1:00 am to
I am not saying names are attached. I said several posts ago you can remain unknown.

I am saying the dollar amounts that pass through these funds have visibility. If you are pushing massive amounts of money through it, people are going to know. Even if the money is spent directly on construction, the dollars will be reported along the way.

If LSU had boosters regularly stroking ten million dollar checks, they would be leading the charge in fundraising and it would be a story, because they would spend the damn money. You can't keep these things totally off the grid.
This post was edited on 11/28/15 at 1:03 am
Posted by fightin tigers
Downtown Prairieville
Member since Mar 2008
73681 posts
Posted on 11/28/15 at 1:03 am to
Do you think there aren't massive amounts flowing through?

I really don't get where you are coming from with this. There isn't a T Boone Pickens type donation, but monthly/quarterly contributions are made. Also one time donations.
Posted by The Third Leg
Idiot Out Wandering Around
Member since May 2014
10046 posts
Posted on 11/28/15 at 1:09 am to
There are massive amounts flowing through all of them, but just stop and use your head for a minute here.

LSU is the flagship institution of Louisiana. If you live in Louisiana and are successful, there is a good chance that you went to LSU or dial into LSU football. Thousands of people at play here that give money. Only a handful, maybe fifty can really kick it up a notch, but we will say oil say flushed them with cash to burn and LSU has a cat that kicks in ten million every three years and others that kick in a few million.

This would create a cash surplus that would constitue an irregularity. People would notice, largely investigative journalists, that LSU has been raising and spending a frickton of money.
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 11/28/15 at 1:10 am to
And TAF would tell those journalists to kick rocks.
Posted by The Third Leg
Idiot Out Wandering Around
Member since May 2014
10046 posts
Posted on 11/28/15 at 1:13 am to
On what grounds? You think an endowment just builds shite and hands it over and nobody has any idea what it cost to construct? As if nobody is wondering, hey, where the frick did that building come from?

The only way to shield the money is to sit on it. I can assure you they are not doing that with any amounts that matter.
Posted by skinny domino
sebr
Member since Feb 2007
14339 posts
Posted on 11/28/15 at 1:14 am to
quote:

Your analogy implies that someone worth $500k won't give $10k over 5 years.
tks, I know it is late, however, figures in my head was about the same.
Posted by cave canem
pullarius dominus
Member since Oct 2012
12186 posts
Posted on 11/28/15 at 1:16 am to
quote:

So, you are saying, if I make a donation to TAF and then TAF makes a donation to LSU my name is reported?

I just want to make sure I get your story straight.



What he is saying is that the TAF does not take in enough money for this donor to exist. Or in other words he is calling the poster a lying POS in as nice a way as possible.

Is everybody straight now?
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 11/28/15 at 1:18 am to
I think you're confusing yourself here.

Donors give to the private organization. Their data remains private unless they agree to publicize (introduction at halftime, naming rights, etc.).

The amount transferred to the state is the only thing that becomes public record. And that's lumped together with literally thousands of contributions. But as I said earlier, the foundations will spend as much as they can privately to benefit LSU before anything is transferred.

My guess is that Les would receive his buyout directly from TAF as to shield the details of the transactions.
Posted by fightin tigers
Downtown Prairieville
Member since Mar 2008
73681 posts
Posted on 11/28/15 at 1:20 am to
I really don't know what the TAF brings in a year, several 10MM I would assume. You are asking them to increase in a manner or 5% or so to cover all of this.

So an increase of 5% is going to raise eyebrows?
Posted by biohzrd
Central City
Member since Jan 2010
5602 posts
Posted on 11/28/15 at 1:24 am to
Here are some:

E. Robert Theriot AKA TAF Chairman

Tyron D. Picard TAF BOD

William W. Rucks TAF BOD

Dr. Eric T. Geist TAF BOD

Along with some Morans, Todd Graves, and the likes.

This was posted by someone on tRant. Gives you the names of the Board members as of 2014. TAF Tax Record
This post was edited on 11/28/15 at 1:28 am
Posted by The Third Leg
Idiot Out Wandering Around
Member since May 2014
10046 posts
Posted on 11/28/15 at 1:30 am to
There is an guy in this thread who says he knows a guy that strokes ten million regularly.

Iowa renovated their football stadium for seventy-five million, it was a massive fundraising effort.

If LSU had guys that gave such money, they would be flush with cash surplus and it would be visible when spent. Sure, they can pay nominal expenses under the radar here and there but any major money spent is visible.

These people do not exist en masse. If they did, LSU would have the absolute best of everything, top to bottom.
Posted by dinner roll
buttery goodness
Member since Feb 2006
6365 posts
Posted on 11/28/15 at 1:32 am to
quote:

I'm related to one but won't tell you his name. Just know a good hire is coming. He's not a billionaire though. He hired Saban though, and Dinardo.


How's Charlie doing these days?
Posted by cave canem
pullarius dominus
Member since Oct 2012
12186 posts
Posted on 11/28/15 at 1:32 am to
quote:

I really don't know what the TAF brings in a year, several 10MM I would assume. You are asking them to increase in a manner or 5% or so to cover all of this.

So an increase of 5% is going to raise eyebrows?



According to the financials that are readily available on google 2014-2015 the TAF took in a total of 32 million (all time record) with out this 10 million dollar man. prior to that the average was in the low 20 mil. range. there is just not room in the car for all these big time mulimillion donations.

While individuals need not be named if they choose not to take the tax deduction, the TAF must still report all proceeds as a non-profit.

Deep pockets as a athletic foundation- Yes

Single donors giving 10's of millions a whack with regularity -
Posted by fightin tigers
Downtown Prairieville
Member since Mar 2008
73681 posts
Posted on 11/28/15 at 1:33 am to
Depends on the definition of regularly. And LSU facilities are top of the line.

TAF probably spends 10MM in salaries across the board. Add a couple stadium expansions and many of the other buldings and it goes quick.
Posted by The Third Leg
Idiot Out Wandering Around
Member since May 2014
10046 posts
Posted on 11/28/15 at 1:35 am to
I understand that, but those amounts do not support regular ten million dollar donations.

Wealthy athletic department capable of firing any coach on any contract, boosters withstanding, just as most top revenue producing programs are.
This post was edited on 11/28/15 at 1:36 am
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