quote:
. I have asked the people who do their financial reports and no one can give me the answer to the following question.

Outside of the “Tradition Fund fee” how much money does TAF raise?

My first thought is, "So what?!?" Your question sounds like you're just looking for an excuse to not donate to TAF. How TAF achieves its revenue is irrelevant.

My second thought is, "You're lying."

TAF's audited financial statements are posted on their website. The latest year's statements are for 2017 since 2018 haven't been completed yet.

All the contributions are accounted for with the ticket donation amounts specified in its own line item on the financial statements and is explained fully in a footnote on page 14 of the audited financial statement.

quote:
Contracts Receivable and Deferred Revenue

Included within the statements of financial position are contracts receivable that represent the Foundation’s right to receive cash under contracts with its members in exchange for the members’ right to purchase tickets for future LSU athletic events, primarily the right to purchasecertain “premium seating” football tickets in Tiger Stadium. The Foundation’s receivables include contracts for the 2018, 2019, 2020, 2021, and 2022 seasons. These receivables result in deferred revenue at December 31st. At December 31, 2017 and 2016, the Foundation’s deferred revenue included $46,589,551 and $50,292,882, respectively, of receivables related to these contracts. The revenue from these contracts will be recognized in the year that the athletic season associated with the ticket(s) is completed. Deferred revenue also included $18,615,032 and $13,125,540 as of December 31, 2017 and 2016, respectively, that is related to payments receivedby the Foundation in advance of the activities associated with those cash receipts having occurred.

The amount of the above totals that is specific to those contractual donations for the right to purchase certain “premium seating” football tickets in Tiger Stadium is pledged for the payment of debt service mentioned in Note 7.

And on page 54 in the notes to the financial statements, there is a chart which shows the amount of philanthropic donations for each year starting with 2007. In 2017 the amount of philanthropic donations was $11,408,840 which was down from 2016's total of $13,136,944.

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Posted by Uncs

Member since Aug 2008

3080 posts

Posted on 4/18/19 at 1:54 pm to LSURussian

Thank you Russian.

The point I am making is that the amount of money that they raise in Philanthropic Campaigns is Minimal to what they raise in comparison to holding everyone’s seats hostage. And with your above numbers it’s shows.

Russian. The two amounts you show, one over 46 million and the other 50 million so looks like possibly 96 million for a CALANDER year raised . Not necessarily a fiscal year because as you state the tradition fund is collected commensurate with the schedule of the athletic team. Correct??? so safe to say. In a calendar year they raise a little over 96 Million?

Then Philanthropic Donations we a little over 11 million?

So, if the above calculations are correct, all in your pushing 107 Million raised by TAF. Of that 107 million 90% of that 107 million (96 million) is generated from Tradition Fund! That right there is my whole point. Without the Tradition Fund these guys are freaking LAME DUCKS AT RAISING MONEY!
They raise money by holding season tick holders seats hostage for their little Tradition Fund fee.

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