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$2 Million Football Gift !

Ball State Deac said:
So if he made $4MM this year (AGI), he could deduct it all this year, in theory. Minus whatever hook-ups he gets from WFU (like box seats, etc).
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Well, it also depends on what he contributed. That is true for cash. If it is capital gain property, then it is actually a 30% AGI limitation, unless he elects to limit his deduction to basis instead of fair market value (in the case of capital gain property with only a small amount of unrealized gain, this election will typically allow a larger deduction).
 
DeaconBrews said:
I have my own Chipotle in my mansion, I don't want to go back.
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If he has an S Corp, the Company does not pay tax. He could provide himself zero income and take a distribution. Hence pay less.
 
Inside baseball shit. Who knows how he did it. But the football program is the better for it. Good on him.
 
Dino Gaudino said:
I kid you not Alan Fox was the Moricle member who told me he would be satisfied with 9-0 or 8-1 at home and 0-9 on the road in the ACC.
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That's what happens when you get elevated to Moricle status -- you start acting/thinking like the rest of them if you weren't doing that already. It's part of being in the club.

"The Moricle Effect"
 
Casstevens will try to slip some of this money over to the basketball program to help pay Buzz's buyout.
 
woody9186 said:
Casstevens will try to slip some of this money over to the basketball program to help pay Buzz's buyout.
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It's guaranteed that the athletic department is going to "take" money from the football coffers. However, instead of taking anything from the $2 million directly, they'll just direct some of the general use funds previously budgeted for the football program to other programs as desired.
 
DinDC said:
That's what happens when you get elevated to Moricle status -- you start acting/thinking like the rest of them if you weren't doing that already. It's part of being in the club.

"The Moricle Effect"
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It's like the body snatchers... you donate a couple million and a pod is under your bed.
 
Dino Gaudino said:
I kid you not Alan Fox was the Moricle member who told me he would be satisfied with 9-0 or 8-1 at home and 0-9 on the road in the ACC.
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DeaconBrews said:
Lol if I was super rich and moricle I wouldn't tell the toothless rubes anything. If they pester me a la Stratt e-mails, I'd just mess with them.
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If I was "super rich and moricle" I wouldn't accept a bunch of ridiculous BS from the AD.
 
Tin Cup said:
Nice. Should be another, larger gift announced before too long. I thought they were going to move forward with a full announcement regarding the new facility in conjunction with NSD. Guess it will be coming soon enough.
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Guessing this may be the larger gift Tin Cup referenced a couple weeks ago. Anyone remember/know what McCreary's contribution was for the video board? Got this e-mail today:

President Nathan O. Hatch and Director of Athletics Ron Wellman
invite you to join them for an exclusive announcement and reception recognizing

Mr. Bob McCreary ('61)

Wednesday, March 5, 2014
5:00 p.m.
Remarks begin at 6:00 p.m.
Deacon Tower at BB&T Field
Flow Lexus Club
Heavy hors d'oeuvres
 
Guess I don't give enough to get that email.

Sent from my SCH-I545 using Tapatalk
 
Would this free up other money in the department for, um, other purposes?
 
Shitttttt Bob's got that paper.
 
Wakelaw2006 said:
Guessing this may be the larger gift Tin Cup referenced a couple weeks ago. Anyone remember/know what McCreary's contribution was for the video board? Got this e-mail today:

President Nathan O. Hatch and Director of Athletics Ron Wellman
invite you to join them for an exclusive announcement and reception recognizing

Mr. Bob McCreary ('61)

Wednesday, March 5, 2014
5:00 p.m.
Remarks begin at 6:00 p.m.
Deacon Tower at BB&T Field
Flow Lexus Club
Heavy hors d'oeuvres
Click to expand...

Yes, this is what I was referring to
 
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