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Let's Get Off Our Butts

 
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Dr. H.



Joined: 10 Dec 2005
Posts: 37

PostPosted: Sun Dec 11, 2005 11:31 am    Post subject: Let's Get Off Our Butts Reply with quote

Let's do something. I just posted the following on the "Suggestions..." forum. Let's get it together and do something!
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It alll boils down to dollars and cents. I'm hearing from students far and wide. They all want to do something.

Consider this, if each alum/person that wants to do something, how about pledging $1,000 (or whatever you could afford) a year for the life of the SoE (even include a cost of living escalation clause). What kind of money could we raise?

I'll get it started. Put me down for $5,000 a year (increased to consider inflation) evey year for the rest of my life as long as the EECS program exists in the School of Engineering and I will include that in my will as well.

I have it on good authority that at least one other EECS faculty member will do the same.

COMMITTEE: Start a new Forum with a moderator to track the committments and give a daily total.
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wclarkson
Site Admin


Joined: 09 Dec 2005
Posts: 38

PostPosted: Sun Dec 11, 2005 12:14 pm    Post subject: Reply with quote

We have actually been looking into how to start a Non-Profit or how to combine donations w/ the student government. But, for now we have started a forum that will allow monetary donations to be pledged.

What are your opinions on setting up a PayPal account (if nothing better comes along) where one can donate money directly? Of course we need someone to deal with the accounting of all this money. But is there anything wrong with someone donating funds to a person or group of persons? Just thinking tax liability etc...In any case, we're keeping that option open.
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Dr. H.



Joined: 10 Dec 2005
Posts: 37

PostPosted: Sun Dec 11, 2005 12:29 pm    Post subject: Monetary issues Reply with quote

Unfortunately, one time gifts won't help very much. The university is looking at sustainable income.

If you want to set up a non-profit, you'll need an accountant and tax attorney. Surely we have a bunch of those amoung our alumni and parents.

Think ONGOING. The easiest way is to sign a pledge with the Development office. That makes it official.

You can indeed make designated gifts, called "Restricted" gifts. In this case, I would make no other kind.

Dr. H.

PS. Thanks for getting the new Forum set up so fast.

PPS. Can we get a spell checker? I'm a terrible proof reader.
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ckp24



Joined: 10 Dec 2005
Posts: 9

PostPosted: Sun Dec 11, 2005 5:48 pm    Post subject: Reply with quote

Dr. H,

How much income do you think we need to raise to keep the SoE afloat in the short term?
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Dr. H.



Joined: 10 Dec 2005
Posts: 37

PostPosted: Sun Dec 11, 2005 7:24 pm    Post subject: How Much? Reply with quote

I'm not privy to the SoE budget, but I've heard faculty salary estimates at about $8.5 M. If we could raise 1/2, or even 1/4, of that PLUS get matching from donars, we would be heard. A few thousand won't do it, so it is important to get everyone possible to pledge.

The grants bring in money that defrays faculty salaries, I don't have the numbers. I might be able to back them out from an annual report.

We all look at the biggies, like David Filo, but the Universities work with thenm on large gifts and they are do not easily part with multi-millions. They, and other donars, always respond better when they are matching something else. I think it is an especially moving case if students, alum, faculty, and parents have raised a substantial sum.

Let me think on it to clarify my thinking on the subject. But you are right, we need a goal, not just "please give." Talk to the CPA who is helping and see what he/she might have to say on the subject.

Food for thought,
Dr. H.
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