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03-02-2007, 02:23 PM
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#1 | | Rookie
Join Date: Mar 2006 Location: Lincoln, Ne
Posts: 462
Credits: 939,519 | Insurance - Creative Fundraising | |
Creative - Oklahoma State is using life insurance policies on big donors to guarantee future funding. What do you suppose the premium is for Boone Pickens. Heck, if they want, ISU can take out 10 million on me? http://journalstar.com/articles/2007...4386868559.txt |
Why not us?
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03-02-2007, 02:26 PM
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#2 | | Starter
Join Date: Apr 2006
Posts: 711
Credits: 959,779 | Re: Insurance - Creative Fundraising | |
this is not new or creative, they are some very specific gifting and esate planning issues that provide for this funding mechanism.
j
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jmb
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03-02-2007, 03:39 PM
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#3 | | Rookie
Join Date: Mar 2006 Location: Lincoln, Ne
Posts: 462
Credits: 939,519 | Re: Insurance - Creative Fundraising | |
I assume the insured must actually be worth the face value of the policy - can they turn a zero-net-worth fan into a big time post-mortem donor?
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Why not us?
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03-02-2007, 03:55 PM
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#4 | | Starter
Join Date: Apr 2006 Location: Denver, Colorado
Posts: 876
Credits: 964,541 Year: 1998 Degree: Political Science NFL: Broncos MLB: Rockies | Re: Insurance - Creative Fundraising | |
Can you picture this............
OSU AD: We need to add more Luxury Boxes to the stadium....but we just don't have the funds.
Alum Director: Well, I have noticed that one of our policyholders, Rosemary, is looking a little worn these days. Nasty cough...
OSU AD: Wonderful, slip some kurari into her evening tea.
Alum Director: Kurari is detectable...
OSU AD: Damn....how about just injecting some air into her bloodstream?
Alum Director: That will work! We should have the money by the end of the 3rd quarter!
Career counseling for those who want to join the University Hit Squad.
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03-02-2007, 03:59 PM
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#5 | | Pro
Join Date: Mar 2006
Posts: 2,373
Credits: 2,192,334 | Re: Insurance - Creative Fundraising | |
It is a great way to go about fundraising if there is enough money today to pay the premiums and go about business as usual. I would love to see ISU doing great $$$ wise today and be able to take whole life out on the big donors.
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Exaggeration is a BILLION times worse than understating.
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