USM Foundation: What if...

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USM Foundation: What if...

Date: May 4, 2004

Here are some other questions about the Foundation--

Why is the Foundation two years behind on its annual reports/audits to the Board?

What happened to the Capital Campaign?
OR, alternative version:
How much money has Thames raised for the Foundation, and for what purposes?

How has Thames used his discretionary fund at the Foundation?

What does it cost to run the Foundation, and how do these costs compare to what the Foundation "makes" in terms of growing the endowment, etc.?

I'm not a numbers person (that's why I teach English!), so I'm not the one to ask or try to answer these questions. But someone should.

Follow the money.

NO QUARTER.

Date: May 4, 2004

Is this relevant?

http://www.usm.edu/financialaffairs/Foundation.html

Date: May 4, 2004

One interesting thing that's happened with the Foundation is that the athletic program has split off from it--sort of formed its own foundation, from what I've heard. (And let me hasten to say that this is hearsay. Probably some posters to this message board could tell us if it's true.) I don't know whether this happened during Thames' watch or before he came on board. I also don't fully understand the implications of a separate Athletics Foundation, but I'm sure it would draw a lot of money away from the original Foundation.

The whole thing makes me wonder whether there's the potential for any arm of the university (including the president's office? economic development? etc.) to break off from the Foundation and begin their own fundraising efforts and investments. Could this happen?

Date: May 4, 2004

quote:
Originally posted by: Mary Villeponteaux
"One interesting thing that's happened with the Foundation is that the athletic program has split off from it--sort of formed its own foundation, from what I've heard. (And let me hasten to say that this is hearsay. Probably some posters to this message board could tell us if it's true.) I don't know whether this happened during Thames' watch or before he came on board. I also don't fully understand the implications of a separate Athletics Foundation, but I'm sure it would draw a lot of money away from the original Foundation. "

There is no question but that there is now a USM Athletic Foundation, seperate and distinct from the USM Foundation -- different board of directors and everything. I am pretty sure that the formation of the Athletic Foundation antedates the investiture/coronation of SFT by at least a year or two.

When you rent your $26,000 luxury skybox at M.M. Roberts, you will make your check payable to the Southern Miss Athletic Foundation:

http://www.southernmiss.com/info/stadium/files/Suite-commitment-form.pdf

If you are not quite so flush, you'll send your $50 to them to buy a brick:

http://www.usm.edu/mclub/welcome/brick_project.htm

I have no idea whether the existence of the Athletic Foundation has resulted in diminished contribution to academic endowments at the original foundation (USM Foundation Classic?) At least there will be less likelihood for confusion.