UPDATED TO 3.5 M! AD Email - GEORGIA TECH LAUNCHES COMPETITIVE DRIVE INITIATIVE

[HurricaneJacket]

 

[HurricaneJacket]

The first sentence is the truly important part. "In a unified endeavor, Georgia Tech, the Georgia Tech Foundation, Georgia Tech Athletics and the Alexander-Tharpe Fund "

 

[BuzzThePlumber]

Awesome, let's all get on board!

 

[leatherneckjacket]

And here it is

Georgia Tech Launches Competitive Drive Initiative

Initiative kicks off with Accelerate GT Match Program, with goal of $5 million impact by Dec. 31

ramblinwreck.com

$5 million? That is it. That is not even half of Collins' buyout.

 

[HurricaneJacket]

$5 million? That is it. That is not even half of Collins' buyout.

The big, exciting thing to me is the first sentence of the press release: " In a unified endeavor, Georgia Tech, the Georgia Tech Foundation, Georgia Tech athletics and the Alexander-Tharpe Fund..."

 

[bobongo]

$5 million? That is it. That is not even half of Collins' buyout.

This is specifically for athletic scholarships, and he probably doesn't want to siphon money away from other projects already in place.

 

[leatherneckjacket]

Why cap the match at $2.5 million? That seems low considering the endowment is over $2 billion. Also, a total of $5 million is only half of the Collins' buyout.

 

[85Escape]

We were all clamoring for a change. Now we have it.

So it's time to put up or shut up.

Even the smallest donation helps...and it helps twice as much now. If at all possible, give something just to send a message that you are All-In.

 

[HurricaneJacket]

Also a fund-raising goal of 2.5 million in in 65 days is pretty aggressive. That's approximately $38,500 per day above previous year's giving quantities.

 

[leatherneckjacket]

This is specifically for athletic scholarships, and he probably doesn't want to siphon money away from other projects already in place.

Ok, but we need much more than $5 million to endow all the ships.

 

[HurricaneJacket]

Why cap the match at $2.5 million? That seems low considering the endowment is over $2 billion. Also, a total of $5 million is only half of the Collins' buyout.

It's $38,500/day above previous year giving. That's a pretty ambitious goal in the middle of inflation/start of a recession + the holiday season. Let's find a way to meet the goal Jackets.

 

[MidtownJacket]

Yeah the "above previous giving" stipulation is a tough one and likely why the cap is there. You don't want to "miss" the target on your first roll out of the gate. I wonder if we have a kicker in line for if/when we beat the number quickly as a reserve option.

I did see corporate matches count, so if you're eligible for 1:1 with your company you get essentially quad points on new gifts.
$1 from you = $1 Original donation + $1 from Company + $2 Match from Donor X = $4 given.

 

[whitegoldsphinx]

I like that the first thing you see, even before the article starts, are links to give and to make a commitment. If you're asking for money, make it as easy as possible to donate.

 

[whitegoldsphinx]

There is a $50 minimum for your gift to be eligible for a match.

 

[85Escape]

I did see corporate matches count, so if you're eligible for 1:1 with your company you get essentially quad points on new gifts.
$1 from you = $1 Original donation + $1 from Company + $2 Match from Donor X = $4 given.

Yeah...it means that if you can somehow give $7,500 and have matching from your company for that amount, you would be able to give a full scholarship and be in the insider's clubs (meetings with the AD, etc.)
Or if you can give $750 you'll be a "Golden T" member and get the nice little "T" lapel pin and get an invitation to the hospitality suite for a home game.

*Note: Most companies limit the amount that they'll match, so check with your companies policies.

 

[GTpdm]

Sweet! Time to get out the checkbook.

Uh-oh...I just read the fine print. Looks like this is being specifically targeted to draw in new donors:

To be eligible for the dollar-for-dollar match, a donor must make a new gift to the Athletic Scholarship Fund by Dec. 31. For donors that made gifts to the Athletic Scholarship Fund during the 2022 Giving Year (July 1, 2021-June 30, 2022), a new gift is defined as any amount greater than that donated in 2022, and the match will be applied to the amount of the new gift.

That's not a bad thing, per se...but for those of us who already gave in the previous giving year, it will be necessary to "up the ante" in order to earn the match.

 

[TooTall]

Ok, but we need much more than $5 million to endow all the ships.

This will more than likely get us through the current academic year so we don't go in the hole. But sure go ahead and see a negative on this guy's day 4 of being in charge.

 

[85Escape]

Also a fund-raising goal of 2.5 million in in 65 days is pretty aggressive. That's approximately $38,500 per day above previous year's giving quantities.

All from new donors too. Smart, build the base by making it easy to get started.

 

[GTpdm]

Ok, but we need much more than $5 million to endow all the ships.

Every avalanche starts with a few pebbles...

 

[GaTech4ever]

This is great. But one question/concern. Did I read it right that this initiative only lasts about eight weeks? Is that normal? Just seems like odd timing because the holidays are when people are most strapped for cash. For the less financially stable and/or younger crowd, there’s only four paychecks between the start and end of this initiative, and people are saving up to travel/buy gifts. Just wish they gave folks more time to save up/figure out how to donate - if I was still a young alumni, I’d find it hard to set aside any kind of significant cash over the holidays to donate.