2512? - 2011-12 and Beyond

[ZuluWarrior]

The last decade of Falcon Basketball has led us to a very sad ending to what is a melancholy moment in the History of Bowling Green State University. To close Anderson Arena down with only 2,512 can be reasoned with numerous excuses. But to me, the number one reason is we haven't played good basketball, let alone great basketball in over a decade. I was hard on Orr and the team after the abhorrent start, but the team and coaches found some life and didn't give up and had some wins in the middle of the season.

Falcon basketball is at its biggest crossroads in my lifetime, 43 years. We open what looks to be a fantastic new facility next season. We have a donation of $10 Million that can enable this program to reach heights not seen in my lifetime. We are at a moment in time to transform our rich in tradition, but recently sleeping program to a place of excitement and energy that could lift us back into a position of actually, legitimately, reaching the greatest sporting event today, the NCAA Basketball Tournament.

Coach Orr deserves to be treated respectfully and appropriately. But I believe our Falcons need to take this moment and evolve like a Phoenix from the ashes of MAC mediocrity to national prominence. Kermit Stroh and Bill Frack have collided at a moment in time where I believe greatness is possible. The powers that be will decide, but its time for a change and I'm not speaking on just our facilities.
Let's Go!
BG!

[gmartin]

I don't want to ruin anyone's hope and I don't want to ruffle anyone's feathers but there is something I want to say. First of all, the 10 million dollar donation is simply amazing!! I wish my family and I could do more but we donate what we can. But every message I read makes me think that this 10 million dollar donation will turn us around over the next couple of years. Like I said, the 10 million dollar donation is amazing but it is an endowment. It comes from investments. BG will not see that money until Mr. Frick passes away. That may be another 20 years. If everyone thinks our program is going to change immediately they are mistaken. Many of you on here have dreams of us making the NCAA next year from this donation. This money is to help build a continued level of FUTURE success. One day we may continued 20 plus win seasons because of this donation but its not going to happen overnight. I just thought I should mention this because 5 years from now many of you may say we got nothing out of that donation when in reality we may not see the rewards of that donation for another 20 years.

[Globetrotter]

I hear what your saying but I did not see anywhere where BG would not see the money until he passes away. Trusts can be written that way but I did not see where this one was. From what it seems like the money will go into some kind of investment that will allow it to last for a long time and grow to much more then 10 million dollars. That does not mean that some of it could not be used tomorrow to buyout the current coach and replace him with a better more well paid coach. Dependent on where you invest it the interest alone on 10 million dollars might allow us to do that.

[gmartin]

From an interview Dave Horger had with Mr. Frick, he stated 'but you have to wait until I pass'. Maybe Grant can confirm this for us but I don't think we can touch the money until then. It is an amazing donation but people are thinking things will change tomorrow when in reality may be 20 years. Since BG is aware of this money maybe they are modifying budgets, etc, accordingly but I still don't think we can use THIS money until he passes. And as a life long Falcon fan, I hope that is a very long time from now.

[ZuluWarrior]

I assumed some of it was coming into play now, or at the very least the University can bet on the come...which I would expect them to do. I don't think Mr. Frack is expecting the University to provide him with average MAC Basketball while he sits in his seats for what I truly hope is many long years.

[BGorDeath]

The donation from Mr. Frack (please spell his name correctly) will not be available until he passes. Mr. Frack is a very healthy individual and, fortunately, BG will not see this money for many, many years.

[Globetrotter]

I assumed some of it was coming into play now, or at the very least the University can bet on the come...which I would expect them to do. I don't think Mr. Frick is expecting the University to provide him with average MAC Basketball while he sits in his seats for what I truly hope is many long years.

"Here is ten million dollars to make the product better, but I dont ever want to see it" Doesn't make a lot of sense unless he is doing it for tax reasons.

[ZuluWarrior]

[The donation from Mr. Frack (please spell his name correctly) will not be available until he passes. Mr. Frack is a very healthy individual and, fortunately, BG will not see this money for many, many years.]

I still hope the University will invest the dollars so neither he nor all of us have to sit and watch mediocre MAC basketball for hopefully many more years.

[ZuluWarrior]

[quote="Globetrotter"][quote="ZuluWarrior"]I assumed some of it was coming into play now, or at the very least the University can bet on the come...which I would expect them to do. I don't think Mr. Frack is expecting the University to provide him with average MAC Basketball while he sits in his seats for what I truly hope is many long years.[/quote]

"Here is ten million dollars to make the product better, but I dont ever want to see it" Doesn't make a lot of sense unless he is doing it for tax reasons.[/quote]

[jacojdm]

"Here is ten million dollars to make the product better, but I dont ever want to see it" Doesn't make a lot of sense unless he is doing it for tax reasons.

altruism [( al -trooh-iz-uhm)] A selfless concern for others.

[Flipper]

Don't know how the trust(s) are structured specifically, but they could contain annuities or insurance products that are designed to pay upon death...you would announce the gift now so you can say "thank you" before the giver is no longer around to hear it.

[Globetrotter]

"Here is ten million dollars to make the product better, but I dont ever want to see it" Doesn't make a lot of sense unless he is doing it for tax reasons.

altruism [( al -trooh-iz-uhm)] A selfless concern for others.

He is less altruistic if he gets to see some of the finished product?

[Flipper]

Why look a gift horse in the mouth? Why not just show some class and accept it for what it is?

He's probably using one or more of these...

http://www.savewealth.com/planning/esta ... bletrusts/

[Globetrotter]

How in the world is it not showing class? I think we were just trying to understand the situation better.

[Drago]

What does the money have to do with it anyways? With the Stroh Center and enough money for the coaches to drive around the midwest, we should be able to recruit and win in the MAC....don't get me wrong, the money is great, but just because the budget increases doesn't mean a kid is going to pick BG over Michigan.