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Posts Tagged ‘Innovation’

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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Washington is helping fans keep their season tickets.

Washington is helping fans keep their season tickets.

As we all know, the economy is affecting fundraising and donors everyday. Annual fund members cannot make payments they thought possible and many may end up forfeiting tickets they have held in the stadium for a long time.

In an effort to combat the adverse effects of the economy, the University of Washington has initiated a creative way to help fans keep their season tickets. By launching the “Dawgs Supporting Dawgs” program, the university is providing two season football tickets to families that were unable to renew due to economic reasons.

Generated by a donation from Husky Fever, the program is accepting donations from other constituents who can help these loyal fans keep their season tickets in the stadium until they can purchase them on their own.

This innovation goes a long way to building good will between fans and the athletics department. In displaying their empathy, the program will be a positive public relations gambit when talking to the community and other donors. By keeping these loyal customers satisfied during their tough times, they will be more likely to donate in the future when their economic situation improves.

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Clemson logo

Clemson University used their Spring Football game to support employees who will struggle financially with a furlough. Image via Wikipedia

As budgets are shrinking at universities around the country, a popular way to handle cutting costs has been to institute a furlough for university employees. During this time, an employee is required to take a certain amount of time off without pay, essentially a mandatory leave from work.

While many employees are not happy to take a furlough, some can get through the year with the reduced income. However, some are not as lucky. Clemson University, a school who recently instituted a furlough, has found a unique way to handle this situation.

On the urging of new Head Coach Dabo Swinney, the school placed orange colored “All In” barrels throughout the concourse during the Spring Football game. The 24,000 people in attendance helped raise over $7,000 dollars to be donated to the One Clemson Furlough Fund. Clemson University, after recieving the money, has assembled a team of fund managers to disperse the money among applicants.

This is a great example of a department building relationships across the campus by donating funds to be used for those who are less fortunate. At many colleges, the academic side of campus can be hesitant or reluctant to support athletics. However, displays of such generosity go a long way to creating friends on the academic side of the university and enable the university to work together to get through tough economic times.

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Austin Peay uses a bass tournament to raise funds for the department.

Austin Peay uses a bass tournament to raise funds for the department.

Many schools host golf tournaments, dinners, and tailgating events to raise money, however, very few use bass fishing. Perhaps one of the most unique ways to fundraise, Austin Peay is hosting their 15th annual Governors Bass Tournament on May 9th. The event, which is held at Kentucky Lake this year, drew over 255 boats last year.

Austin Peay’s annual fundraising arm, The Govenors Club, will be on hand to provide breakfast and lunch. The event has a large amount of sponsors that provide cash prizes and gifts for the winners of the tournament. The top 25 finishers will recieve prizes.

This event is a wonderful example of an athletics department knowing their fanbase and their passions. Obviously fishing is a large hobby for the people surrounding the university and the tournament allows fans to merge the two.

Additionally, the large amount of sponsors enables the event to draw people from all over, whether they are friends of the university or not. This allows for the raising of additional funds outside of the current fanbase. Austin Peay should be commended for hosting such a creative event.

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