Making waves across the sports industry, Boise State‘s announcement that they will begin selling “Bronco Stock” has unveiled a new way to raise money for the athletics department. Those who purchase the stock will become members of Boise State Broncos, Inc., receive stock certificates and voting privileges.
200,000 shares of stock will be issued at a $100 price tag, making the new venture capable of raising $20 million dollars to raise money for a new facility for student-athletes. The stock is also transferable to family members or other interested parties. However, the money used to purchase stock will not allow shareholders benefits, such as priority parking or priority seating.
This new system is certainly an innovative approach to raising money for a new building. Instead of focusing on a variety of large gifts, the department is selling many small gifts that will be used to build a new facility. This allows those in the Boise community who may not have the ability to give a the larger levels to be a part of the new building. If a sense of urgency and feeling of involvement can be created with this program, shareholders will feel valued and a part of the Boise State success.
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Development departments looking for innovative ways to boost their scholarship funds should look no further than the “Building the Blue” mechanism at Boise State. The Bronco Athletics Department, in an effort to support their summer school scholarship costs, have launched the program aimed to collect donations as little as $10. Here’s how it works:
The blue turf at Boise State has long been an identifying mark for the football program, and the “Building the Blue” fundraiser builds off that. In an online experience, the blue color of the turf at Bronco stadium has “faded” and fans are being asked to help return the field to it’s “natural” color. For every $10 donated, one square yard of Boise State’s football field will return to blue. All the proceeds go to help the Summer School Scholarship Program. The webpage which the program is built upon shows the progress donors are making towards the final goal. Of course, just like other donations, gifts are all tax deductible.
A program doesn’t need to have the blue turf launch a program like this, however. Similar ideas like “Fill the Stadium/Arena,” “Flood the Pool,” or “Grow the Grass” could be done at schools without iconic landmarks like the blue turf at Boise State. Summer school scholarships or other small goals are perfect for such a program.
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