The Wolfpacker: An Independent Magazine Covering NC State Sports
Issue link: https://comanpub.uberflip.com/i/759726
24 ■ THE WOLFPACKER BY MATT CARTER " T hink and Do the Extraordinary." It is a campaign slogan that NC State University is trying to live up to with a historic fundrais- ing drive to reach a goal of $1.6 billion by Dec. 31, 2021. It is the largest such effort in the school's nearly 130-year life, and the Wolfpack Club is proudly partnering with NC State. The organization is embarking on its own ambitious drive to raise more than $210 mil- lion, and the needs in this evolving time of collegiate athletics call for it. New NCAA legislation in the era of stu- dent welfare has substantially raised the cost of the scholarship bill undertaken by the Wolfpack Club. Included among three recent examples is the expanded meal al- lowance, which began in 2014. The NCAA allowed Division I student-athletes, includ- ing non-scholarship athletes, to receive un- limited meals and snacks. That added over $1 million to the Wolfpack Club's tab. Then came the cost of attendance added to the scholarships, which at NC State meant $625,000 tacked on to the scholarship bill. All these legislations have resulted in a tremendous increase to the scholarship bill before regular tuition increases are factored in. The end result is an anticipated scholar- ship bill of more than $11.7 million in 2017. That almost doubles the roughly $6 million the Wolfpack Club was responsible for in 2010. "The most important thing in any athletic program is to be able to have the maximum amount of scholarships allowed," Wolfpack Club executive director Bobby Purcell said. "We're at the max, and we want to maintain that." To that end, as part of the new univer- sity campaign, the Wolfpack Club seeks to double its endowment, which is currently around $50 million. The university is also placing a heavy emphasis on endowment, seeking to raise $800 million itself for the same purpose. Purcell noted that endowments are like an insurance policy for the scholarship bill. Donors have the option to pick their sports to help endow, and for a $250,000 donation can choose a specific position like center field in baseball or goaltender in soccer. For a $500,000 pledge, the donor will become a Life Member in addition to endow- ing a specific position. Contributions are payable over five years and can also be made through planned giving using estates or other means. By reaching its endowment goals, the Wolfpack Club hopes to earn about $4 million annually in inter- est to use on the scholarship bill, reducing the burden and allowing the organization to fundraise more effectively for other needs. After the athletics department at NC State prioritizes their facilities need, athletics director Debbie Yow makes a formal request to the Wolf- pack Club board, which then makes a decision on endorsing raising the money for the project or projects. Among those would be three major con- struction projects: the completed Close- King Indoor Football Practice Facility, the recently renovated Reynolds Coliseum and the soon-to-be-built Case Commons, a dorm that will house the basketball teams and other students. Combined the three projects cost $57.2 million, and the Wolfpack Club is offering several naming opportunities. That includes $5 million to name the new residence hall or the arena at Reynolds Coliseum. A $5,000 donation will get a donor a per- manent, 6-by-16-inch, engraved plaque with a personal message on the new Wolf Tracks Strengthening The Pack The Wolfpack Club Joins Forces With The University In An Ambitious Campaign To Meet The Demands Of Modern College Athletics NORTH CAROLINA STATE UNIVERSITY C A S E C O M M O N S R E S I D E N C E The new Case Commons Dorm that will house the basketball teams and other students has an estimated cost of $15 million. RENDERING COURTESY THE WOLFPACK CLUB NAMING OPPORTUNITIES FOR CASE COMMONS FUNDRAISING GOAL: Opportunity Amount Naming Rights to the Facility $5,000,000 Dorm Lobby/Entrance Foyer $500,000 1st Floor Social Lounge $250,000 Team Meeting/eatre Room $250,000 Study Room $150,000 Atrium $150,000 Terrace $150,000 Men's Basketball Players Room (Qty. 15) $100,000 each Women's Basketball Players Room (Qty. 15) $100,000 each Non-athlete Rooms (Qty. 16) $50,000 each Naming Opportunities for Case Commons FUNDRAISING GOAL: Opportunity Amount Naming Rights to the Facility $5,000,000 Dorm Lobby/Entrance Foyer $500,000 1st Floor Social Lounge $250,000 Team Meeting/eatre Room $250,000 Study Room $150,000 Atrium $150,000 Terrace $150,000 Men's Basketball Players Room (Qty. 15) $100,000 each Women's Basketball Players Room (Qty. 15) $100,000 each Non-athlete Rooms (Qty. 16) $50,000 each Naming Opportunities for Case Commons