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Wow - MGN Silver Membership is now $250 :-(

  • goterpss said... (original post)

    Again, if academic side and other organizations can raise money without offering tangible benefits, why can't athletics?

    Iron Dukes is a primary example -- they have a $14 million scholarship bill each year to pay and have an athletics endowment 6x ours. How many of their donors are getting bball tickets? (let's agree that access to Duke football tickets have nil value). Most of their donors are from out of state too. They are raising a ton of dollars from donors who see very little benefits in return.

    Army raised $20 million this year, purely on philanthropy (slightly different culture there I know).

    As for the road football trip, i'm pretty sure there was one in 2010 (UVA game?). It wasn't going to work this year and was communicated to donors in July I believe. They stepped up the annual football banquet in lieu.

    Not disagreeing with you that they've continued the away trip. But for years it was listed as a benefit so they had to deliver on it otherwise they could be accused of a bait and switch. They then pulled it from the printed benefit list but continued to have it "just because". Once they pulled it and didn't deliver, there is nothing technically anybody could do because they weren't "promised" the trip. Again, it's a technicality. I've been on the trips and thought they did a nice job with them.

    As for athletics raising money without benefits - just my opinion - athletic departments have been using the tickets, parking, etc. forever. There is just a different mindset amongst donors. Donors give to academics and don't expect anything because they know going into the donation that there is nothing to get in exchange. They also know that there are basketball tickets/parking, football tickets/parking, etc. and for that reason the donors have a different mindset re: academics v. athletics. I'm not saying it's right. It's just my opinion.

    The trend recently is to amp up the benefit side of giving to athletics. For example - Michigan. Up until a couple of years ago, no donations were required for football tickets. Not anymore. New AD came in and made donations mandatory to keep tickets.

  • just appear in championship games, thats what id do

  • SATerp

    MikeFan said... (original post)

    either way, few of us are going to go to it.

    You SHOULD go to it....

    And there sure is a lot of scrambling by 'insiders" and apparently KA to confuse and obscure how the University of Maryland ended up with the worst possible football coach possible. I wonder why that is?

  • goterpss said... (original post)

    Again, if academic side and other organizations can raise money without offering tangible benefits, why can't athletics?

    Iron Dukes is a primary example -- they have a $14 million scholarship bill each year to pay and have an athletics endowment 6x ours. How many of their donors are getting bball tickets? (let's agree that access to Duke football tickets have nil value). Most of their donors are from out of state too. They are raising a ton of dollars from donors who see very little benefits in return.

    Army raised $20 million this year, purely on philanthropy (slightly different culture there I know).

    As for the road football trip, i'm pretty sure there was one in 2010 (UVA game?). It wasn't going to work this year and was communicated to donors in July I believe. They stepped up the annual football banquet in lieu.

    Yep, and there was one in the works for FSU this year but I think it fizzled. These latter two events were heavily subsidized by those going.

  • Tag/Crofton, is there any word on if the audits are done and KA has a truly objective look at the financial picture?

  • sugarmag said... (original post)

    Tag/Crofton, is there any word on if the audits are done and KA has a truly objective look at the financial picture?

    My guess, and it is just that, is that the audit findings will never see the light of day. The AD knows exactly what was done by his predecessor as well as the course of the financial situation if unaltered by an influx of new income. There is just so money much you can cut out of the IAD given Women's Basketball appears untouchable and our need to spend smart money to have any hope in harvesting the revenue potential in our football program!

  • Kevin's discussed with the accounting dept at Maryland and the Finance folks at the University to conduct an independent audit. I know it sounds crazy, but having an independent audit on an individual dept of the University is very rare (you're also talking another 250K in expense at least). I gave him my opinion, that an independent audit provides some comfort and verification to stakeholders (i.e. donors) that there isn't any hanky panky going on.

    They've cleaned up the books and they know what the run rate is to operate the ship, which was documented in the President's Commission and helped lead the path to the recommendation to cut sports. What Debbie had did, was muddy up what the true operating cost was of running the Athletic Dept and I think Kevin and team have a very good idea of what that is.

  • goterpss said... (original post)

    Kevin's discussed with the accounting dept at Maryland and the Finance folks at the University to conduct an independent audit. I know it sounds crazy, but having an independent audit on an individual dept of the University is very rare (you're also talking another 250K in expense at least). I gave him my opinion, that an independent audit provides some comfort and verification to stakeholders (i.e. donors) that there isn't any hanky panky going on.

    They've cleaned up the books and they know what the run rate is to operate the ship, which was documented in the President's Commission and helped lead the path to the recommendation to cut sports. What Debbie had did, was muddy up what the true operating cost was of running the Athletic Dept and I think Kevin and team have a very good idea of what that is.

    You seem to be in the know. Can I ask why there has been no talk of possible prosecution of Debbie Yow for misuse of public funds? I'm being dead serious here. She simply cooked the books at a public institution and altered the financial books to portray herself in a positive light. That's what it comes down to.

  • Dear xxx,

    I hope you are enjoying the holiday season. The response from our last MGN email blast has been great. Our membership for 2012 is growing daily. It seems like many of you are excited about the upcoming Recruiting Celebration on Wednesday, February 1st, the first event exclusively for 2012 MGN members.

    As you are aware, we will be holding a general membership meeting for all 2011 & 2012 members on Wednesday, January 11th at 5:30 p.m. in the Glazer Auditorium of the Gossett Football Team House. Coach Edsall and myself will discuss the status of the MGN, answer questions pertaining to the program, and talk about how beneficial your support is to our program. Members of the staff will be available for guided tours of Gossett to show some of the changes that have been made in the past year.

    As a part of our membership drive, I'd like to ask you to bring one other guest with you to the event that shares your similar passion for Maryland Football.

    We plan on recording the meeting and it will be made available for viewing on the Internet. In the future, we hope that we'll have the ability to simulcast events like this exclusively for MGN members.

    I hope that you will be able to make it on the 11th. The meeting will run until 6:40 p.m., right before tipoff of Men's Basketball taking on N.C. State over in the Comcast Center. Parking is available in Lots 1 & Z and in Union Lane Garage. There will be shuttles available before and after the basketball game to and from Lot 1 and Comcast.

    Please let me know if you have any questions and I look forward to meeting each of you!

    Have a safe and happy new year!

    Rick Jaklitsch
    Rick Jaklitsch
    MGN President

  • goterps said... (original post)

    You seem to be in the know. Can I ask why there has been no talk of possible prosecution of Debbie Yow for misuse of public funds? I'm being dead serious here. She simply cooked the books at a public institution and altered the financial books to portray herself in a positive light. That's what it comes down to.

    She didn't do anything illegal. In fact, per some friends who work in government, she did nothing different than what many other legislators do. It's government accounting which is different than GAAP. It makes them look good today, and somebody else's problem tomorrow. Not ideal, but not illegal. It's good she moved on as did her CFO.

    One of the very strong things about Kevin is the transparency he is providing. Under DY, you would never have had a President's Commission that detailed actual operating budgets, etc.

  • goterpss said... (original post)

    She didn't do anything illegal. In fact, per some friends who work in government, she did nothing different than what many other legislators do. It's government accounting which is different than GAAP. It makes them look good today, and somebody else's problem tomorrow. Not ideal, but not illegal. It's good she moved on as did her CFO.

    One of the very strong things about Kevin is the transparency he is providing. Under DY, you would never have had a President's Commission that detailed actual operating budgets, etc.

    But my understanding is, among other unilateral actions, she accelerated the naming rights payments to be received from Comcast for the arena so that she could show extra revenue in the present at the cost of not getting those payments for years 10 through 15 of the contract. I can't imagine that the Athletic Director has the authority to do something like that when it's money that technically (and indirectly) belongs to the State of Maryland.

  • goterps said... (original post)

    But my understanding is, among other unilateral actions, she accelerated the naming rights payments to be received from Comcast for the arena so that she could show extra revenue in the present at the cost of not getting those payments for years 10 through 15 of the contract. I can't imagine that the Athletic Director has the authority to do something like that when it's money that technically (and indirectly) belongs to the State of Maryland.

    Corporate (and government) treasurer's have done crap like that forever. Makes them look better, kicks the can down the road (see Federal looting of Social Security funds). Makes whoever's the AD in a decade have a tougher time, and look worse, but makes the current (Yow) incumbent look better. That's all they care about.

  • Let's be clear, she is not accused or thought to have over stepped her authority or powers. There are likely several employees in the state of MD outside of the treasurer who have the authority to bind their departments to agreements and/or move cash.

    To the above poster, it's a little less common in the corporate world since you have companies that report their earnings under U.S. GAAP which tries to give less wiggle room in revenue recognition. Government accounting (and I'm no expert here) gives a lot more wiggle room.

  • Perhaps I just have a dream involving her showing up at Byrd next year for the Terps-State game and immediately being cuffed and apprehended. No need for extradition.