Future Campus Framework Discussion

[reedny]

In case anyone wanted to pore over the most recent 990 filing that I could find (2014 fiscal), have at it.

http://990s.foundationcenter.org/990_pdf_archive/150/150532081/150532081_201506_990.pdf

High level overview shows:

Total revenue of $1,269,059,737
Total expenses of $1,178,788,210
Revenue after expenses of $90,271,527
Net assets of $1,842,203,525

Form 990 is required for NFP corporations. The Title IX reporting is separate.

 

[reedny]

Which again - is wrong to me. I don't have the time to see if that 99% of the time comment checks out or not, but I am sure you're probably right for the most part. It's just crazy to me that if you have an entity in your business that profits millions of dollars, you look for handouts in order to reinvest.

So alumni giving is a "handout" now?

 

[shandeezy7]

Form 990 is required for NFP corporations. The Title IX reporting is separate.

Right, I was more responding to some folks who were insinuating that the school was cash-strapped or something to that effect. While I agree that obviously you aren't building new/renovating a building like the Dome without significant outside investment, the university isn't exactly hemorrhaging money.

 

[UnknownOrange]

So alumni giving is a "handout" now?

It absolutely is a hand out ... but that's not as bad as waiting on NYS money because donations are up to the donor. If they want to give, they can.

My whole main point for this is that it's crazy SU didn't spend a dollar on the dome, and I think for the renovation, they should. Why is that such a big deal?

 

[reedny]

It absolutely is a hand out ... but that's not as bad as waiting on NYS money because donations are up to the donor. If they want to give, they can.

My whole main point for this is that it's crazy SU didn't spend a dollar on the dome, and I think for the renovation, they should. Why is that such a big deal?

You make it (the Dome) sound like flipping a buck to a homeless guy. It was a University capital project that was, like most such projects, funded through public and private support. Why is that such a big deal?

 

[AZOrange]

Here's an honest question because I do not know the answer: how was the Dome financed originally? Who paid for it?

EDIT:

$15 million grant from New York State; $2.75 million from Carrier Corporation, for whom building named; and remainder [about $9.25 million] from donations of friends of Syracuse University

$27 million and from the surface, SU didn't pay a dime for it. That to me, is wrong.

Why? The donors are left pocket/right pocket. If SU taps an endowment that came from donors too.

 

[AZOrange]

It absolutely is a hand out ... but that's not as bad as waiting on NYS money because donations are up to the donor. If they want to give, they can.

My whole main point for this is that it's crazy SU didn't spend a dollar on the dome, and I think for the renovation, they should. Why is that such a big deal?

SU spent 9.5mm according to your numbers last time

 

[sutomcat]

A couple of student projects on the topic that might be of interest...one pro Dome renovation, one pro new facility.

On a related topic, one cost that hasn't been talked about but should be in insurance. I would think that there is a big insurance policy on the roof of the Dome that based on the location of Syracuse University and the history of air supported domes must be really expensive.


http://chrisduane.weebly.com/uploads/7/6/4/0/76406737/carrier_dome_case_study.pdf

 

[IthacaMatt]

Frustration? No. Simply clarifying that because SU is a private university and doesn't release their financials no one on here, unless they work in the finance dept. of the university or sits on the BOT, has any idea as to how and where monies are allotted.

That's not entirely true. There are articles in the newspaper from time to time, stories on ESPN, etc., about the size of contracts, bowl payouts, etc., and annual reports from the NCAA about the financial side of the business.

 

[xc84]

COR's making its pitch ... shooting for an SU Sports facility or a proton beam generator. The proposal's interesting because of the information it contains about the Hilton Garden, the revenue streams and the University's plans (however firm those are). There was a PS article about it circa 2014 .. linkage below.

Future of Loguen Crossing project overshadowed by proposed SU sports arena

Lots of assumptions in the paper but one relatively minor one that does not make sense. If they build a new stadium and the Carrier Dome is leveled as I would expect it would be, there is no need for a "buyout" of the name. SU is off the hook.

 

[UnknownOrange]

You make it (the Dome) sound like flipping a buck to a homeless guy. It was a University capital project that was, like most such projects, funded through public and private support. Why is that such a big deal?

Because it is going to cost so much more than the $27 million it took to build the dome originally. All i would like to see is a company reinvest in itself with some of it's own money. I have no issue with them taking donations or state funds, I'd just like to see them spend some of their own coin

 

[UnknownOrange]

SU spent 9.5mm according to your numbers last time

Their donors spent that. Again I have no issue with donors giving their money back to their university but I'm just simply suggesting that SU spend some of it's own money to reinvest. Also there is no indication that they WON'T do this ... I just would like to see them do it.

 

[reedny]

Because it is going to cost so much more than the $27 million it took to build the dome originally. All i would like to see is a company reinvest in itself with some of it's own money. I have no issue with them taking donations or state funds, I'd just like to see them spend some of their own coin

It will. Read the proposal that COR made (TomCat above linked it). This may or may not happen. But you'll see why the U will have to devote millions to the project ... in the form of cash, future revenues, etc.. They will also fundraise for it, as all U's do. At the end of the day, SU will have a huge financial stake in the project.

 

[RandomGuy]

$286,243,157 in available funds, if athletics profits steered to construction over 4 years(page 7). Build it. Build it, NOW.

 

[OttoMets]

A couple of student projects on the topic that might be of interest...one pro Dome renovation, one pro new facility.

On a related topic, one cost that hasn't been talked about but should be in insurance. I would think that there is a big insurance policy on the roof of the Dome that based on the location of Syracuse University and the history of air supported domes must be really expensive.


http://chrisduane.weebly.com/uploads/7/6/4/0/76406737/carrier_dome_case_study.pdf

No offense to them, but those kids don't seem to understand too much about financing or anything else they've written about. Papa John's this, parking that, they're just putting words onto a page with a bunch of citations.

 

[UnknownOrange]

It will. Read the proposal that COR made (TomCat above linked it). This may or may not happen. But you'll see why the U will have to devote millions to the project ... in the form of cash, future revenues, etc.. They will also fundraise for it, as all U's do. At the end of the day, SU will have a huge financial stake in the project.

Which is all I ask for lol. It's the same idea as billionaire sports owners asking the city and tax payers to pay for their stadium. I loved in part what the Falcons did where they got a chunk from the city and also imposed a "visitors tax" to hotels which helped fund the stadium.

I just hope they are creative and make this a project that blows people away.

We all want the same thing, but all roads lead back to Rome

 

[UnknownOrange]

No offense to them, but those kids don't seem to understand too much about financing or anything else they've written about. Papa John's this, parking that, they're just putting words onto a page with a bunch of citations.

Did you sit behind me in class?

 

[OttoMets]

Did you sit behind me in class?

There's a hoops program joke to be made here, but it's too soon.

 

[sutomcat]

No offense to them, but those kids don't seem to understand too much about financing or anything else they've written about. Papa John's this, parking that, they're just putting words onto a page with a bunch of citations.

Yes, they make a few good points, but I don't see either getting an A from our board...

 

[AZOrange]

No offense to them, but those kids don't seem to understand too much about financing or anything else they've written about. Papa John's this, parking that, they're just putting words onto a page with a bunch of citations.

None of that made any sense, the least of which was the revenue bond conclusion. Where exactly did that come from?

 

[AZOrange]

Their donors spent that. Again I have no issue with donors giving their money back to their university but I'm just simply suggesting that SU spend some of it's own money to reinvest. Also there is no indication that they WON'T do this ... I just would like to see them do it.

You're just moving $$$ from right to left pocket. The donor money is SU money. Why do you think they're donating?

 

[AZOrange]

Which is all I ask for lol. It's the same idea as billionaire sports owners asking the city and tax payers to pay for their stadium. I loved in part what the Falcons did where they got a chunk from the city and also imposed a "visitors tax" to hotels which helped fund the stadium.

I just hope they are creative and make this a project that blows people away.

We all want the same thing, but all roads lead back to Rome

There is 180 degrees of difference between an NFL owner raising money from taxpayers and SU raising it from donors. I'd guess any renovation is going to require 75 percent support from taxpayers.

 

[orangeinohio]

A couple of student projects on the topic that might be of interest...one pro Dome renovation, one pro new facility.

On a related topic, one cost that hasn't been talked about but should be in insurance. I would think that there is a big insurance policy on the roof of the Dome that based on the location of Syracuse University and the history of air supported domes must be really expensive.


http://chrisduane.weebly.com/uploads/7/6/4/0/76406737/carrier_dome_case_study.pdf

Not a bad plan but I feel like it was written by the lawyer from Jurassic Park.

 

[cuse10]

No offense to them, but those kids don't seem to understand too much about financing or anything else they've written about. Papa John's this, parking that, they're just putting words onto a page with a bunch of citations.

What's more surprising to me is that this is a 400 level course and their writing ability is that poor. I can understand that Sports Management isn't a writing intensive major like mine was (History), but this is high school level at best. I've had moments where I needed to get to 20 pages for a paper, but if you trimmed the fat, the overall argument wouldn't be compromised despite decreasing the page length. There's literally nothing of substance throughout most of their proposal.

 

[UnknownOrange]

You're just moving $$$ from right to left pocket. The donor money is SU money. Why do you think they're donating?

I know what you're saying but $10 million from donors and $10 million from the ACC TV deal for example... is different.