Zeek Biggers & Leo Blackburn highlight initial NIL charity event

[gtchem05]

This is the culmination of a lot of effort from many different volunteers who love Tech. Please consider volunteering for this event, sharing about it with others, and/or making a donation. I'm happy to answer questions as well. Appreciate all the great support!

 

[Tjacket]

This is the culmination of a lot of effort from many different volunteers who love Tech. Please consider volunteering for this event, sharing about it with others, and/or making a donation. I'm happy to answer questions as well. Appreciate all the great support!

Love. This

 

[gtchem05]

Love. This

Thanks! The AJC wrote something on it as well: https://www.ajc.com/sports/georgia-...gia-tech-athletes/ZSUFSON6RRCEJNFZYKGE5UKKME/

 

[randerto]

Thanks for sharing the article in the AJC to better explain this NIL initiative. This seems like a great way for GT fans to donate their money OR their time by attending one of these events and meet/work alongside some of the GT athletes to help make these events successful for everyone involved. Hope many of the ATL locals on this board will consider donating their TIME or money to help get this NIL initiative kicked off in a successful way!

In addition to a potential donation, if you're a Jackets fan and live in the ATL, why not sign up to attend one of these first two local events? If you haven't had a chance to meet one of these four players in person, this seems like a great opportunity to meet and work alongside them within the context of doing something productive to help others in the community. It doesn't cost anything to just sign up and show up.

 

[MountainBuzzMan]

Is there an easy way to donate? A link that for me to enter my credit card? I am not the most comprehensive reader so if I missed it in the article, I appologize

 

[gtchem05]

Is there an easy way to donate? A link that for me to enter my credit card? I am not the most comprehensive reader so if I missed it in the article, I appologize

Yes, making a donation should be super easy. Just go to www.jacketsforatlanthropy.com and click the donate button in the top menu. It will explain the process from there and credit card is accepted. Feel free to click the ‘contact us’ link and send a message if you have any issues. Also, feel free to post here if you have any other questions because others may have the same questions as well. Much appreciated!

 

[randerto]

Without more donations, events planned beyond 7/18 will need to be deferred. So right now is a key early inflection point where the actions of all readers on GTSwarm plus additional potential GT donors can help determine the ultimate success of credible GT NIL initiatives like this one. Certainly hope more GT sports fans can step up and contribute...

With this GT NIL initiative - using the upcoming 7/18 event as an example:

1) Players win by directly benefiting from real actions they take in the local community to directly benefit those in need through local charities. Players can make $1,000-$2,000 in a very small amount of their time by leveraging their NIL to promote events on their social media accounts and word-of-mouth. The true spirit of NIL vs what some other schools are doing.
2) Local charities win by increased exposure and support for their charities. In this example, additional support allows the charity to create more meals for local organizations and citizens in need.
3) Donors/GT fans win by having the opportunity to meet and support GT Student Athletes in person with all funds being tax deductible. Wouldn't it be fun to meet and talk to the leaders of the GT football team while working alongside them to help others?
4) GTAA wins by increased NIL support for their Student Athletes - ultimately to remain and build a nationally competitive program in this changing landscape...

Consider a donation at this critical early time in Georgia Tech's NIL history..

 

[MountainBuzzMan]

Donated $200. Hopefully others will as well

 

[forensicbuzz]

If this group doesn't develop a large enough pot of money so that they can use earnings to fund events without touching the principal (like a foundation), I don't see this as sustainable. Hopefully, those in charge are working in that direction. Typically this happens with a large seed donation.

 

[MountainBuzzMan]

What are the efficiencies of these donations. ie for every $100 how much is overhead and how much makes to the Athlete? How much does the site that is used to accept the donation take off the top? I assume there is at least a credit card fee between 2% and 4%?

 

[4shotB]

What are the efficiencies of these donations. ie for every $100 how much is overhead and how much makes to the Athlete? How much does the site that is used to accept the donation take off the top? I assume there is at least a credit card fee between 2% and 4%?

@gtchem05 - these are great questions and I think it would help some (maybe just myself) decide to get off the fence. Apologies in advance if I have missed this elsewhere but I have had a lot of travel in the last month or so. Regards.

 

[gtchem05]

What are the efficiencies of these donations. ie for every $100 how much is overhead and how much makes to the Athlete? How much does the site that is used to accept the donation take off the top? I assume there is at least a credit card fee between 2% and 4%?

Great question! The answer is somewhat complicated. I’ll try my best here, but let me know if something is unclear.

The Jackets for Atlanthropy website takes nothing off the top. Our board, charity liaisons, and graphic designer are volunteer only. The board chair and founder pays the web hosting fees out of his own pocket.

There are fees associated with the Jackets for Atlanthropy giving fund or donor-advised fund. However, the funds are also invested and accrue a return under typical market circumstances. Since the fund was opened at the end of April, it has been charged $60.00 in maintenance fees and $104.15 in credit card fees, but it has earned $378.30 in investments for a net gain of $214.15. These numbers and percentages will vary over time based on the fund balance and market climate. The fund currently has a low risk asset allocation, though, so there’s little risk of a net loss.

Currently we’re not trying to build up a large balance. We’re trying to get funds to athletes ASAP. But in-between events, at least the money isn’t sitting in an account doing nothing.

There will be fees (for example: facility fees, supplies, marketing, etc.) that the charities we work with will require us to cover, and these will vary based on the type of event we are partnering on. Our goal is to keep this at less than 10% so that 90% or more of the funds go to the athletes. We will publish data about this on the website once we have a few events under our belt.

Thanks so much for your interest! I will try to address further questions here, and you’re also welcome to submit questions through www.jacketsforatlanthropy.com as well.

 

[gtchem05]

If this group doesn't develop a large enough pot of money so that they can use earnings to fund events without touching the principal (like a foundation), I don't see this as sustainable. Hopefully, those in charge are working in that direction. Typically this happens with a large seed donation.

This is the ultimate goal but would probably require an endowment on the order of $50-$100 million. If you know of anyone interested, let me know!

 

[GT33]

Great question! The answer is somewhat complicated. I’ll try my best here, but let me know if something is unclear.

The Jackets for Atlanthropy website takes nothing off the top. Our board, charity liaisons, and graphic designer are volunteer only. The board chair and founder pays the web hosting fees out of his own pocket.

There are fees associated with the Jackets for Atlanthropy giving fund or donor-advised fund. However, the funds are also invested and accrue a return under typical market circumstances. Since the fund was opened at the end of April, it has been charged $60.00 in maintenance fees and $104.15 in credit card fees, but it has earned $378.30 in investments for a net gain of $214.15. These numbers and percentages will vary over time based on the fund balance and market climate. The fund currently has a low risk asset allocation, though, so there’s little risk of a net loss.

Currently we’re not trying to build up a large balance. We’re trying to get funds to athletes ASAP. But in-between events, at least the money isn’t sitting in an account doing nothing.

There will be fees (for example: facility fees, supplies, marketing, etc.) that the charities we work with will require us to cover, and these will vary based on the type of event we are partnering on. Our goal is to keep this at less than 10% so that 90% or more of the funds go to the athletes. We will publish data about this on the website once we have a few events under our belt.

Thanks so much for your interest! I will try to address further questions here, and you’re also welcome to submit questions through www.jacketsforatlanthropy.com as well.

that didn't take long to get me off the fence

 

[gtchem05]

that didn't take long to get me off the fence

That’s awesome! (Assuming you fell on the Atlanta side as opposed to the Athens side) Also the FAQ page on the website is helpful for those looking for more of this type of info.

 

[forensicbuzz]

This is the ultimate goal but would probably require an endowment on the order of $50-$100 million. If you know of anyone interested, let me know!

If you had an endowment of $3MM, you could give away $70-$100k a year. The problem is that would require it to be a truly philanthropic organization, as in part of the philanthropy is the cost of the organization.

 

[gtchem05]

If this group doesn't develop a large enough pot of money so that they can use earnings to fund events without touching the principal (like a foundation), I don't see this as sustainable. Hopefully, those in charge are working in that direction. Typically this happens with a large seed donation.

I think what you're saying is true in the sense that posting donation requests on an internet forum (even forums that are head and shoulders above the rest, like GT Swarm (and I mean that in the most pandering way possible)) every time an event comes up is not a sustainable way to raise funds. However, wealthy supporters of GT athletics are unlikely to want to contribute a large lump sum to an initiative like this without some proof of concept. That's why J4A is dependent on and extremely grateful for those early adopters who are willing to contribute what they can to get this off and running. After the initial events, deep-pocketed supporters can observe the model and its outcomes and donate larger amounts with the confidence that they will see a return on their investment in the form of benefitted charities, well-compensated athletes, and no wasted dollars.

 

[gtchem05]

@gtchem05 - these are great questions and I think it would help some (maybe just myself) decide to get off the fence. Apologies in advance if I have missed this elsewhere but I have had a lot of travel in the last month or so. Regards.

Hopefully, the above info addressed your questions. Just announced today a matching donation which means that any donations from now through 7/28 will essentially count as double until we reach the goal of $7700 for our soup kitchen event on 8/6.

 

[gtchem05]

Hopefully, the above info addressed your questions. Just announced today a matching donation which means that any donations from now through 7/28 will essentially count as double until we reach the goal of $7700 for our soup kitchen event on 8/6.

Just an update on this. We've raised $1060 in the first 2 days which is $2120 with the match. J4A would love to see Tech fans take full advantage of this matching opportunity to support our athletes. So let's see what we can do over today and the weekend. I'll provide another update on the totals on Monday. Thanks for all your support!

 

[MountainBuzzMan]

Just an update on this. We've raised $1060 in the first 2 days which is $2120 with the match. J4A would love to see Tech fans take full advantage of this matching opportunity to support our athletes. So let's see what we can do over today and the weekend. I'll provide another update on the totals on Monday. Thanks for all your support!

You may want to make a new post about this initiative in general to see if you can get a little more traction.