Contributions by the USM Prez? - USM Forum -- Message Board

Date: Nov 4, 2004

Contributions by the USM Prez?

Date: Nov 4, 2004

quote:
Originally posted by: Austin Eagle
"I'd think ole Shelby could pony up at least as much cash for USM as did Mrs. McCarty. Anyone know if he has? AE "

Maybe he'll just write a personal check for $12,000,000 and get those critical athletic facility improvements underway. Yeah, that's probably what he meant when he said they'd get done with or without the bond money.

Date: Nov 4, 2004

from what I understand...
several years ago, he donated land to the athletic department. it is an odd gift, unless you consider the value of the land (which I think was a lot) and consider it an investment if he ever became president and wants the athletic people on his side.
Also, he gives money to the arts. Just look on the program.

Date: Nov 4, 2004

quote:
Originally posted by: Least Venerable
" Maybe he'll just write a personal check for $12,000,000 and get those critical athletic facility improvements underway. Yeah, that's probably what he meant when he said they'd get done with or without the bond money. "

Shelboo is in no position to be writing checks to anyone. Keep in mind that he's still supporting his daughter, or at least supplementing the contributions received from the Save Dana Thames Committee, as well as providing housing to the Dvorak clan. All this in addition to making regular hush-money payments to several shadowy figures from his past. What goes around, comes around......

Date: Nov 4, 2004

I know he gave money to athletics a few years ago, thus the Rogers, Thames and Welch Baseball Center. I usually see his name on the list whenever there are donors for theater, music, etc, such as stated before.

Date: Nov 5, 2004

It doesn't take much to get your name pretty high on a list of arts donors. A couple of hundred bucks will get you into tier 2 or tier 3 on a program. And sometimes the donors that are on the program gave the $ several years ago. They don't get dropped because the program makers don't want it to look like they've had few donations in the last year (which is usually the case).

Date: Nov 5, 2004

Yeah, but the money I wanted to donate to the arts at USM I ended up donating to a legal defense fund instead. No regrets, but you could say that the antics of Shelby and the Kentucky Wonder Beans cost us in a variety of ways.

Date: Nov 5, 2004

Shelby and the Kentucky Wonder Beans

Nw that would make a good name for a rock band, if I do say so myself.

Date: Nov 5, 2004

Thanks for filling me in on the Thames largesse. I remain unimpressed. If a humble wash-woman can amass $150K through years of sweat and sacrifice, and in an act of unparalleled selflessness turn it over to an institution with which she had no formal ties, then surely a USM-grown polymer millionaire can deliver at the same level.

I should add that the donation of raw land acquired at a low cost basis, then written off at present market value, is less an act of generosity than it is an exercise in tax avoidance. And as was pointed out here, it doesn't take a substantial contribution to have ones name listed in a program. I've had my name included after making contributions as meager as $25. I just feel that a self-professed rich guy who's quick to dun alums for cash should set an example and, as we say in Texas, belly up to the bar first. Oh yeah, and pardon my early morning rant.

AE

Date: Nov 5, 2004

quote:
Originally posted by: Chicken Soup Lady
" Shelby and the Kentucky Wonder Beans

Nw that would make a good name for a rock band, if I do say so myself. "

I thought Shelby & the Kentucky Wonder Beans were the group that recorded "It's A Gas" for Mad magazine back in the '60s...

Date: Nov 5, 2004

quote:
Originally posted by: Invictus' A&R Man
" I thought Shelby & the Kentucky Wonder Beans were the group that recorded "It's A Gas" for Mad magazine back in the '60s..."

Is Lisa out of town again?

Date: Nov 5, 2004

quote:
Originally posted by: Dome Build-Up
"Is Lisa out of town again?"

Nope, just riding out that double secret probation until Dr. Goebbels sees fit to reinstate her. According to our operatives, she was holding court, er, I mean maintaining office hours, on the Mahogany patio following the bond defeat. Looking doleful too, from all reports.

Date: Nov 5, 2004

As for Thames, he has contributed quite a bit to The University over the years. Call it what you want, hush money, buying support, but it's much, much more than any of you have ever done.

He has given money to the Baseball Program, about $100k. He's given to football, well over $100k, Circle of Champion, $10k a year Eagle Club member (for scholarships), and well having an athletic scholarship endowment.

He is listed as giving to the Theater and Dance programs, although the amount is not released.

SFT is far from perfect, and I think he needs to be a one term president, which I think he will be, but don't try to question his detication and giving to the University, when most of us give virtually nothing in compairison to what he has. I would estimate he's and his family have given close to a million to Southern Miss in the last 5 - 8 years.

Date: Nov 5, 2004

quote:
Originally posted by: Seeker
"As for Thames, he has contributed quite a bit to The University over the years. Call it what you want, hush money, buying support, but it's much, much more than any of you have ever done. He has given money to the Baseball Program, about $100k. He's given to football, well over $100k, Circle of Champion, $10k a year Eagle Club member (for scholarships), and well having an athletic scholarship endowment. He is listed as giving to the Theater and Dance programs, although the amount is not released. I would estimate he's and his family have given close to a million to Southern Miss in the last 5 - 8 years."

What is your authority for these claims concerning Thames donations? Can you cite sources that we can access? Unsupported claims are just that--unsupported claims.

I advise caution when you assert that Shelby's contributions are "much more than any of you have ever done." Given the anonymity of this message board, I daresay you have no idea who we are, or what we and our families may have contributed to USM.

Date: Nov 5, 2004

quote:
Originally posted by: Truth Seeker
" What is your authority for these claims concerning Thames donations? Can you cite sources that we can access? Unsupported claims are just that--unsupported claims. I advise caution when you assert that Shelby's contributions are "much more than any of you have ever done." Given the anonymity of this message board, I daresay you have no idea who we are, or what we and our families may have contributed to USM. "

As much as I don't like to see my name hitched w/the evildoer's in your Nom d'Aplomb, I agree w/ you 100%, TS.

Date: Nov 5, 2004

Whatever.....

But, it's widly known that the property located in Oak Grove the Thames family donated to USM is worth about $700k at today's market value. We know that it takes $100k to endow an athletic scholarship. We also know that Thames, Nick Welsh and Charles Rodgers donated $100k each to the baseball complex, that's why their names are on the building.

Shelby, Clay and Scott are each Circle of Champion members, which requires a $100k donation (each) to be included. Like I said, I have no idea what other contributions have been made to the arts, polymen sci and the like but if you take what I've listed about, that ammounts to $1.1 million.....and you can verify any of it you care to.....

By the way.....have you given $1.1 million to the University, I personnelly have not.....but members of my family have......

Date: Nov 5, 2004

quote:
Originally posted by: Seeker
" . . . but it's much, much more than any of you have ever done."

Seeker, I don't know what you are seeking but I hope you find it soon. I sacrificed more to this place than you will ever be able to comprehend - career, dignity, peace of mind - things far more important than mere money. But yes, I sacrified that too - in many ways. Now go crawl under a dollar bill and enjoy yourself.

Date: Nov 5, 2004

quote:
Originally posted by: Too late
""

Why don't you crawl back into your Ivory Tower and continue to poision the minds of you students, if you ever show up for a class. But, you're probably to emersed in the babblings of John Donne......

Don't preach to me or any other tax payer as long as you're on the public dole, you're a civil servent. If you hate Southern Miss leave.....if you don't want to leave then suck it up.

I want SFT gone as much as the rest of you, but I'm not going to be preached too.

Date: Nov 5, 2004

quote:
Originally posted by: Seeker
" Why don't you crawl back into your Ivory Tower and continue to poision the minds of you students, if you ever show up for a class. But, you're probably to emersed in the babblings of John Donne...... Don't preach to me or any other tax payer as long as you're on the public dole, you're a civil servent. If you hate Southern Miss leave.....if you don't want to leave then suck it up. I want SFT gone as much as the rest of you, but I'm not going to be preached too."

Arrogant young man from a wealthy family, please don't embarrass us by wearing Black and Gold to work. If you do, however, please tell your co-workers that they are your high school colors.

Date: Nov 5, 2004

quote:
Originally posted by: Black & Gold
"Arrogant young man from a wealthy family, please don't embarrass us by wearing Black and Gold to work. If you do, however, please tell your co-workers that they are your high school colors."

I've been called worse by a better man than you. I am the most attacked poster on this board, you have got come up with better dialog than that.

Date: Nov 5, 2004

quote:

Originally posted by: Seeker
"I've been called worse by a better man than you."

By a better man? Women wear Black & Gold too, you know.

Date: Nov 5, 2004

quote:
Originally posted by: Seeker
"

I've been called worse by a better man than you. I am the most attacked poster on this board, you have got come up with better dialog than that."

Yes, and you ask for it. Your posts beg for it. On some level, you enjoy it.
You like being provocative.

Date: Nov 5, 2004

All figures offered for public consumption by charities, including the USM Foundation and the USM Athletic Foundation are suspect. Not necessarily inaccurate, just suspect by their very nature.

Sometimes, when the headline says that Dr. XYZ has made a $1,000,000 donation to the Foundation, the text buried deep in the story is that the good doc has purchased a second-to- die life insurance policy that will pay a death benefit of $1,000,000 to the foundation upon the second to die of the doc and his 23-year-old bride. In other words, the Foundation has nothing but a piece of paper until both of the insureds have reached room temperature. That might happen this afternoon, but statistically, it is more likely to be sixty or seventy years before the $1,000,000 is paid. (The 23 year old female is likely to live a long time.) The premium that the donor pays will be less -- much less -- than $1,000,000. Seeker's insurance/investment experts can hone this number, but I would guess it would be in the $30,000 to $40,000 range.

Similarly, a donor could establish a trust for the benefit of the Foundation into which the donor places $500,000. The terms of the trust would be that the trust would pay to the Foundation $20,000 each year for forty years and at the end of that period the trust could terminate
and anything left would be returned to the donor's family. Obviously, if the original $500,000 earned an average of 4% each year, that would equal the annual contribution to the Foundation. At the end of the forty year period, the donor's family would get the half-million back and the Foundation would have received a total of $800,000 (40 years x $20,000). If this actually happened, the headlines in the Foundation newsletter would be all about somebody making an $800,000 donation.

To put it bluntly, reporters (both internal and external) never make clear the relationship between time and money. I suppose someone could open up a trust account and put $100 in it with instructions that the trustee invest and reinvest until the $100 grows into $1,000,000, at
which point all would be paid to the Foundation. Presumably, the Foundation would report that as a present $1,000,000 gift.

None of this is dishonest, but it can be misleading. Charities like to tout fund raising success. Donors like the attention. Things are not likely to change.

I don't know what type of gifts SFT or members of his family have made, but there are many more ways to donate than simple cash contributions.

Date: Nov 6, 2004

quote:
Originally posted by: ram
"All figures offered for public consumption by charities, including the USM Foundation and the USM Athletic Foundation are suspect. Not necessarily inaccurate, just suspect by their very nature.
Sometimes, when the headline says that Dr. XYZ has made a $1,000,000 donation to the Foundation, the text buried deep in the story is that the good doc has purchased a second-to- die life insurance policy that will pay a death benefit of $1,000,000 to the foundation upon the second to die of the doc and his 23-year-old bride. In other words, the Foundation has nothing but a piece of paper until both of the insureds have reached room temperature. That might happen this afternoon, but statistically, it is more likely to be sixty or seventy years before the $1,000,000 is paid. (The 23 year old female is likely to live a long time.) The premium that the donor pays will be less -- much less -- than $1,000,000. Seeker's insurance/investment experts can hone this number, but I would guess it would be in the $30,000 to $40,000 range.
Similarly, a donor could establish a trust for the benefit of the Foundation into which the donor places $500,000. The terms of the trust would be that the trust would pay to the Foundation $20,000 each year for forty years and at the end of that period the trust could terminateand anything left would be returned to the donor's family. Obviously, if the original $500,000 earned an average of 4% each year, that would equal the annual contribution to the Foundation. At the end of the forty year period, the donor's family would get the half-million back and the Foundation would have received a total of $800,000 (40 years x $20,000). If this actually happened, the headlines in the Foundation newsletter would be all about somebody making an $800,000 donation.
To put it bluntly, reporters (both internal and external) never make clear the relationship between time and money. I suppose someone could open up a trust account and put $100 in it with instructions that the trustee invest and reinvest until the $100 grows into $1,000,000, at which point all would be paid to the Foundation. Presumably, the Foundation would report that as a present $1,000,000 gift.
None of this is dishonest, but it can be misleading. Charities like to tout fund raising success. Donors like the attention. Things are not likely to change.
I don't know what type of gifts SFT or members of his family have made, but there are many more ways to donate than simple cash contributions.
"

You are correct the insurance policies are crap they mean nothing. One reason is becasue you can stop paying the preminum at any time. Now some of the money is in annuities, which is better, but it still isn't cold hard cash.

Date: Nov 6, 2004

quote:
Originally posted by: Seeker
" You are correct the insurance policies are crap they mean nothing. One reason is becasue you can stop paying the preminum at any time. Now some of the money is in annuities, which is better, but it still isn't cold hard cash."

becasue = because

preminum = premium

Translation:

pure term insurance = crap

whole life insurance = good

annuities = better

cold hard cash = best

Glad we got that straightened out. Is the coffee ready yet?

Date: Nov 6, 2004

Sorry, but I wasn't even thinking about term insurance. Most charities will only credit a donor for permanent insurance. Of course, the cleanest arrangement is paid-up, permanent insurance. Single-term paid-up insurance would be best from the charity's point of view, because there is no chance of the donor failing to make additional payments that would result in policy lapse. Reality being what it is, though, many charities will accept permanent insurance that would be paid up in -- say -- ten annual installments.

By the way, the charity would have to be made the owner of the insurance policy. That way, even if the donor ceased premium payments (actually, making tax deductible contributions to the charity, that would then be used to pay premiums), the charity could then cancel the policy and receive the then-current cash surrender value of the policy.

Disclaimer: I am not an insurance professional; I have just developed some interest in non-traditional charitable giving techniques because they afford people of modest means a chance to make significant long-term gifts to charity. They also let rich folks make whopping huge contributions with relatively small out-of-pocket cost.

In addition to insurance, there are other arrangements where the donor (and family) get to keep the "gift" for many years before the charity finally receives a benefit. Or the charity gets the "gift" for a while, but it comes back to the donor's family somewhere down the road.

Remember the deal a few years back where a donor gave USM a restaurant, then leased it back for management? I've never understood how that worked. Maybe USM gets the net profit from the restaurant after the donor's expenses of management (including his salary and management expenses) are deducted.

But back to the original point of this thread: no one without "inside" information can possibly know what kinds of gifts SFT or his family have made to USM. Sometimes the public relations releases can be -- how do you say? -- misleading.

Surprised?