Bloomsburg receives $10 Million gift from alumnus Steph Petit

[Bart]

I'd say women's sports gets more than half.

Maybe football gets half of the men's allotment. Will Wrestling get any of it?

I doubt that it is all available immediately but you never know.

The wrestling coaches were present at the announcement. Also DC Chet Henicle was there, which may mean something.

Here we go. IUP party crashers taking control of another thread.

[iupgroundhog]

The wrestling coaches were present at the announcement. Also DC Chet Henicle was there, which may mean something.
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It's like a soap opera. To be continued...

[IUP CRIMSON HAWKS]

The wrestling coaches were present at the announcement. Also DC Chet Henicle was there, which may mean something.

Here we go. IUP party crashers taking control of another thread.

Sorry, Bart. We are indeed an invasive species. Not another word on IUP on this thread.

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[IUPbigINDIANS]

The wrestling coaches were present at the announcement. Also DC Chet Henicle was there, which may mean something.

Here we go. IUP party crashers taking control of another thread.

Get serious. If it's on here it will be discussed and go in 80 directions. Same as every other thread.

[Bloom2005]

The wrestling coaches were present at the announcement. Also DC Chet Henicle was there, which may mean something.

Here we go. IUP party crashers taking control of another thread.

Good eye!! Now you're learning!!!

[iupgroundhog]

Get serious. If it's on here it will be discussed and go in 80 directions. Same as every other thread.

That's just Bart's sense of humor.

The timing does raise the issue of whether the coaching decision and the $10m gift are connected in any way???

[bloom14]

I would think he would be in the loop somewhere, but what do I know. Definitely helps sell to the prospective coaches that they want to stay relevant for a long time now

[IUPNation]

It will be interesting how the scholarship money is divvied up, Five million scholarship dollars invested should produce at about 10 fully endowed scholarships dived among 20 sports. Does every sport get an equal share? If the money has been given up front, there should be scholarships available in a year.

[IUPNation]

The wrestling coaches were present at the announcement. Also DC Chet Henicle was there, which may mean something.

Here we go. IUP party crashers taking control of another thread.

You knew it would happen.

[ClarionPSAC]

[IUPbigINDIANS]

Interesting topic. I'm not sure about the dynamic, however. I can speak for IUP and say 100 percent surely that scholarship money, as a whole, is not divided equally.

Think of a pie ... football and the two basketball programs get about 7.5 of the 8 slices. The last half piece gets divided among all the other 'non-revenue' sports.

[Fightingscot82]

That's a common oversimplification - and I hear it too often from PASSHE schools. I can tell you with some pretty strong authority that PASSHE schools are probably too conservative with their interpretation of Title IX. If someone gives $5 million for football its in the school's best interest to find creative uses for that money like a coaching endowment, equipment, facilities, etc. Title IX compliance only matters if its challenged via complaint so schools need to have a pretty good reason why things don't align with gender breakdown. I have a hard time believing that a court would fault a school from accepting big money that decreases the cost of attendance for students regardless of gender...but then again PASSHE employees are the kings and queens of pettiness so anything is possible. Do you think the women's swimming coach at Penn State is going to sue because she doesn't get paid like James Franklin? Do you think that would hold up? Probably not.

My understanding of this donation was that the $5 million is for men's revenue sports and the second $5 million is to help with the Title IX balance. I could be wrong because I got that from someone at BU outside athletics.

[Ram040506]

Shepherd can't use state funds for scholarships either. At least to my knowledge.

[Fightingscot82]

Using state funds isn't the same as using tuition revenue for scholarships. Its a real dollars version of what privates are doing with discounting.

[iupgroundhog]

I've been trying to put this $10 million into perspective. It's certainly a tremendous gift for Bloom athletics. No doubt about that. But how far does it go considering Title IX, the variety of sports, etc? My rudimentary understanding is that usually it's set up as an endowment so each year's haul is based on the interest accrued on the principal amount. I believe that's where the previously mentioned 10 schollies estimate comes from. However, can you use up the principal over, let's say 12, 15, or 20 years? You could at least double the # of schollies that way. Any thoughts?

I can remember several years ago (could be >10) someone endowed Clarion swimming with a $5 million gift. That was for both men's and women's programs and I believe would be in perpetuity, that is, goes on forever. I also remember a few years ago when LHU announced they would drop baseball and supporters came together and raised a couple million to sustain it into the future. As everybody knows dollars don't go as far for football because of the sheer size of the roster.

Other non-sports gifts I can think of (for perspective) are the $23 million for IUP's new science building and programs from an alumni couple, LHU got a $7 million gift for their Business school from a local businessman and the $1 million IUP got from Chad Hurley (founder of youtube) for which they put his cross country coach's name on the KCAC.