Athletics Receives Renovation Challenge to Enhance Student-Athlete Experience
$3 million commitment funds challenge grant
An anonymous donor has established a $3 million challenge grant designed to inspire charitable gifts to fund renovations to the Arthur B. Edge Jr. Intercollegiate Athletic Center and Bud Shaw Sports Complex estimated at $6 million with a focus on enhancing the academic and sports medicine/rehabilitation areas.
Challenge and Project Details - DRAFT
02/10/15
Why is the challenge being issued now?
The Anonymous donor shares our goal of providing Georgia Tech student-athletes with one of the best combined athletic and academic experiences in the country. A challenging yet rewarding academic curriculum is one area which sets Georgia Tech apart from our peers in the ACC. We believe our student-athletes should have all the tools and resources to excel in the classroom. In addition, our student-athletes need to be able to prepare and recover from the physical rigors of competition on their respective field of play so they can pursue their dreams on and off the field. It has been decades since either of these areas has been significantly updated.
What is the goal for this challenge grant?
The goal is to provide a total of $6 million in gifts and/or commitments forthe renovation project of the Edge Center.The initial focus will be on areas which have a direct impact on the lives of student-athletes such as the academic and sports medicine/rehabilitation areas.
How does the challenge work?
Donors who wish to help meet the challenge must make a qualifying gift or multi-year commitment. Commitments are typically payableover a five-year period.Gifts from all challenge grant participants will be matched on a dollar-for-dollar basis by the Anonymous donor for the purpose of qualifying them for any of the available naming opportunities and/or recognition, thus doubling the impact of each participating donor's gift.
What do you mean by qualifying gifts and commitments?
Only new gifts and commitments made on or after December 01, 2013 and designated for the renovation of the Edge Center will qualify. Donors to other allocations within athletics cannot cancel and re-book a qualifying current commitment.
Who gets the recognition?
The Anonymous donor is conveying all commemorative naming opportunities—including the challenge grant monies—to the triggering donor(s). The triggering donor(s) may name the respective area in the facility in their own name(s) or in honor or memory of others.Essentially, the donor(s) will be gaining naming rights for half of the minimum gift level it would otherwise cost.Naming opportunities are listed at the end of this document.
What is the minimum level of challenge participation?
The minimum level of challenge participation is $12,500, resulting in a $25,000 naming opportunity for the triggering donor(s).
Do my corporate matching gifts qualify as well? How about foundations or other organizations?
Yes. There are hundreds of companies who will match the gifts of their employees and, in some cases, retirees. The entire amount would qualify for the challenge. Gifts and commitments from foundations, other organizations, and directly from corporations are also welcome.
When does the challenge expire?
We expect fundraising for to conclude one year after the scope and budget for the project is determined. Our expectation is for this challenge to expire on or before December 2015, with payments, including matching gifts, extending up to December 31, 2020.
Will there be a challenge for Phase II of Renovations?
If there is a Phase II, those details will be announced as we approach the completion of the fundraising effort for Phase I. We are not aware of any challenge grant for a potential Phase II.
Will an estate provision or trust qualify?
Only in a handful of cases may a trust or estate provision qualify. If interested in exploring this option in more detail, please contact any A-T development officer at (404) 894-5414.
Where do I direct any questions? Or make a qualifying commitment?
Donors can direct gifts and commitments to theAlexander-Tharpe Fund.Please contact the Alexander-Tharpe Fund Office at (404) 894-5414.
Arthur B. Edge Jr. Intercollegiate Athletic Center
(TBD) Commemorative Gift Opportunities (not yet including 1:1 Matching Funds)
Commemorative
Gift LevelStatus
Academic Center (Hearn?)From $1,500,000Available
Study Hall / CommonsFrom $250,000Available
Conference Room / Faculty SuiteFrom $250,000Available
Entry LobbyFrom $150,000Available
Academic Support Staff Office (10)From $50,000 / ea.Available
Total Person Staff Office (2)From $50,000 / ea.Available
Tutoring Rooms (10)From $50,000 /ea.Available
Name Recognition on PlaqueFrom $25,000Available(Remove for AT Board)
Sports Medicine/Rehabilitation CenterFrom $1,000,000Available
Hydro Therapy RoomFrom $250,000Available
Exam Room / Doctor’s OfficeFrom $100,000Available
Trainer / Rehab Offices (10)From $50,000 / ea.Available
Name Recognition on PlaqueFrom $25,000Available(Remove for AT Board)
Other TBD: Administrative Wing; Business office; Sport specific offices
(Note: Above totals $4.8 million in naming opportunities, $3.3 million w/o Hearn. This suggests possible opportunity for $1.2 million in existing naming opportunities or other renovation projects within Shaw Sports Complex. Need to price scope of project then fill in above.)