The University of Arkansas at Little Rock recently held their inaugural SpectacUALR event, a silent auction and awards ceremony to benefit UALR Athletics. The event (held in their newly constructed Jack Stephens Center) featured two main objectives, recognize alumnus Annette Fisher as the SpectacUALR Honoree and raise money for UALR Athletics.
Both objectives were met in tremendous fashion during the event which saw over 500 attendees and $180,000 raised to support the athletic department and their honored guest. The funds were raised in a variety of ways as the event promoted ticket sales, corporate partnerships, and a silent auctions. Surprisingly, $100,000 of the revenue generated was from the former two, and not silent auctions (as most benefit banquets do).
ULAR’s new approach to a banquet event shows that auction items are not the only revenue generator for athletics departments looking for big event results. Corporate partners and the ticket office can cash in on the goodwill created by a large benefit event. With UALR hosting the event in their own facility, the costs were certainly kept at a minimum. Their event shows that successful banquets and auctions should not be exclusively for donors, but for corporate sponsors and ticket holders as well.