NW football 35 million donation

[Palmerhawk]

Today from Richard and liz uhilien...over next 3 years..35 million dedicated strictly to NW football.
They are lake Forest billionaires who did not attend NW...he's a Stanford guy.
His family was Schlitz beer founders.
They started Uline Corp.,a business supply giant.
They are Chicago area natives and he was quoted as saying that Chicago needs a strong NW football program for the betterment of the whole area.
Alum Pat Ryan financed the new stadium(900 million).
NW has the kind of donors that Iowa lacks...whales.

 

[dgordo]

Their son Mac played for northwestern.

 

[PedMaller]

Their son Mac played for northwestern.

Best recruiting decision in the history of NW football.....even if he never played a down.

 

[Fight4Iowa]

When you're out of beer, your out of Schlitz.

 

[Fight4Iowa]

$35M isn't a whale. $900M is a whale though. We might not have any whales, but we have a much bigger army and lots of tax payers feeding into the system. Iowa will be just fine in comparison to NW.

 

[Kceasthawk@77]

$35M isn't a whale. $900M is a whale though. We might not have any whales, but we have a much bigger army and lots of tax payers feeding into the system. Iowa will be just fine in comparison to NW.

???? What exactly are "tax payers feeding into the system"? This keeps coming up for some reason. Iowa athletics doesn't get tax dollars.

 

[Palmerhawk]

Their son Mac played for northwestern.

Actually,Mac, a team captain last year as a 5th yr senior, is their grandson.
Of course maybe their son also played there

 

[Fight4Iowa]

By "tax payers' I meant your normal, blue collar, middle class Iowa fans. Paying their Iowa Athletics "taxes" buy buying tickets, buying tailgate spots, buying parking spots, spending money in the stadium, making donations. I bet our total number of actual contributors of $5k + a year to the football program dwarfs NW. Like 15-1 ratio.

???? What exactly are "tax payers feeding into the system"? This keeps coming up for some reason. Iowa athletics doesn't get tax dollars.

 

[Kceasthawk@77]

By "tax payers' I meant your normal, blue collar, middle class Iowa fans. Paying their Iowa Athletics "taxes" buy buying tickets, buying tailgate spots, buying parking spots, spending money in the stadium, making donations. I bet our total number of actual contributors of $5k + a year to the football program dwarfs NW. Like 15-1 ratio.

First off your calling ticket buyers, "paying taxes" is ridiculous. You have ZERO control over the taxes you pay. Buying tickets to sporting events is both a choice and a luxury. Second and more important we already covered this "ticket and merch" thing. Yes it pays a SMALL part of the athletic budget. probably less then 10%. The bulk is payed by the 80-100 million in media payment, and donations from wealthy donors like the Moon family. Then your trying to lump wealthy donors in with your "taxes theory" Again those are wealthy donors, its not a tax. which is what I questioned. And for the record its quite possible some of the larger donors may actually avoid some "taxes" by making donations.

 

[Fight4Iowa]

First off your calling ticket buyers, "paying taxes" is ridiculous. You have ZERO control over the taxes you pay. Buying tickets to sporting events is both a choice and a luxury. Second and more important we already covered this "ticket and merch" thing. Yes it pays a SMALL part of the athletic budget. probably less then 10%. The bulk is payed by the 80-100 million in media payment, and donations from wealthy donors like the Moon family. Then your trying to lump wealthy donors in with your "taxes theory" Again those are wealthy donors, its not a tax. which is what I questioned. And for the record its quite possible some of the larger donors may actually avoid some "taxes" by making donations.

First of all, you're not getting the analogy. That's fine.

More importantly though, it sounds like you need an accountant.

 

[Kceasthawk@77]

First of all, you're not getting the analogy. That's fine.

More importantly though, it sounds like you need an accountant.

Explain why I'd need an accountant? I have two sons who are accountants and you can get tax breaks as long as the donation exceeds the fair market value of anything received for the donation. This is a "quid pro Quo contribution". For example if your donation for a seat exceeds the value of the seat and ticket . And your analogy is useless in this case. My only response was to your saying we had more "tax payers" then NW. I responded in that regard because numerous posters here have made comments about tax money being used to fund the athletic dept. Totally false.

 

[2HeartedHawk]

Explain why I'd need an accountant? I have two sons who are accountants and you can get tax breaks as long as the donation exceeds the fair market value of anything received for the donation. This is a "quid pro Quo contribution". For example if your donation for a seat exceeds the value of the seat and ticket . And your analogy is useless in this case. My only response was to your saying we had more "tax payers" then NW. I responded in that regard because numerous posters here have made comments about tax money being used to fund the athletic dept. Totally false.

QPQ donations are long gone, particularly when you throw a comma in the equation. There are tax advantages for smart donors making gifts of securities, privately held assets, and QCDs for those aged 70.5.