Maybe somebody smarter than me can explain why the NCAA needs to accumulate more than half a billion dollars in net assets.
Filed under The NCAA
Penn State has cash flow problems? Jere Beasley needs cash flow…
Alabama lawya connection!
O’Bannon ain’t gonna pay himself.
boy that is one scary article…..terms like “quasi-endowment” and “potential uses” scare the crap out of any right thinking fan. Those are terms for a slush fund to be used for the executive committee’s personal projects and ,of course. their inflated salaries. In an attempt to answer the Senator’s question of “Why?”… I suggest it’s the same reason President Clinton got a BJ in the Oval office from a stunningly unappealing young intern…… because he could, They are accumulating these funds because they can. Often we all over think things.. Because they can fits as well as any reason I can come up with.
Endowment? For WHAT?
I second you. Why does a non-profit need to accumulate more than 2-3 years reserve, much less 500 million. Why don’t they spend it on more enforcement people and actually send them where there are problems?
If a “non-profit” accumulates $500 Million isn’t that proof that it really isn’t a non-profit? Pay taxes NCAA like everybody else!! Where are the Treasury Department and the IRS? Somebody needs to have their tax-exempt status reviewed.
“Non-profit” is generally the biggest farce ever created. It simply means they “say” they are not profit motivated, not that they don’t or won’t. Since the NCAA protects the future of our fine young gentlemen, they clearly don’t have a profit motive…hehehe.
Mayor, think about it. Non-profits and/or charities have no goods or services to sell and are not only allowed to build reserves, they are prudent to do so. From the article, the NCAA points out that part of this reserve build up is to guard against a “catastrophic loss due to losing the revenue from basketball contract something, something, something.” As in the private, for-profit sector, losses are mitigated by reserve cash on hand. Non-profit planning always includes building reserves.
Now, on the other hand, screw the baztards…
These distributions The Emmert makes to schools…so that goes to the athletic budgets, or at least that is the inference…does anybody know if this moola trickles down to the general fund of the school or does it go only to the athletic budget? (Other than, of course, scholarships, facilities rent or other direct payments to the school’s general fund by the athletics department.)
Point being, there is always a good bit of conversation when this subject comes up about greedy university presidents. Not that I have contributed to that, of course.
How, exactly do these greedy bastards get their hands on the money?
My guess is it doesn’t go any further than the athletic budget: nothing good “trickles.”
The NCAA is well endowed?
That might explain why the fu#k things up so well.
Yeah what a bunch of jerks having savings and all…spend it all and borrow the rest.
And they don’t have the money to get enough people in the streets?
Georgia ranks “among the nation’s best in the bottom line,” McGarity told the board. — AB-H, 2/12/20
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