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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 The Third Leg
Posted on 11/28/15 at 12:43 am to The Third Leg
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 on 11/28/15 at 12:43 am to Asgard Device
Shaq is giving us the money he made from those Gold Bond commercials.
Posted on 11/28/15 at 12:49 am to Golfer
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 on 11/28/15 at 12:51 am to The Third Leg
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 on 11/28/15 at 12:53 am to The Third Leg
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 on 11/28/15 at 1:00 am to fightin tigers
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.
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 on 11/28/15 at 1:03 am to The Third Leg
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.
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 on 11/28/15 at 1:09 am to fightin tigers
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.
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 on 11/28/15 at 1:10 am to The Third Leg
And TAF would tell those journalists to kick rocks.
Posted on 11/28/15 at 1:13 am to Golfer
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.
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 on 11/28/15 at 1:14 am to Golfer
quote:tks, I know it is late, however, figures in my head was about the same.
Your analogy implies that someone worth $500k won't give $10k over 5 years.
Posted on 11/28/15 at 1:16 am to fightin tigers
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 on 11/28/15 at 1:18 am to The Third Leg
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.
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 on 11/28/15 at 1:20 am to The Third Leg
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?
So an increase of 5% is going to raise eyebrows?
Posted on 11/28/15 at 1:24 am to Asgard Device
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
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 on 11/28/15 at 1:30 am to Golfer
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.
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 on 11/28/15 at 1:32 am to bicroundstic2008662
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 on 11/28/15 at 1:32 am to fightin tigers
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 on 11/28/15 at 1:33 am to The Third Leg
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.
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 on 11/28/15 at 1:35 am to fightin tigers
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.
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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