In response to declining tax revenue, the Florida legislature froze the state’s Matching Gift Program last year. Today, it owes FAMU $573,643.The Major Gifts Challenge Program, established in 1979, is a public-private partnership that rewards state universities for their success in private fundraising.
The matching scale is as follows:
$100,000 to $599,999 50%
$600,000 to $1,000,000 70%
$1,000,001 to $1,500,000 75%
$1,500,001 to $2,000,000 80%
$2,000,001 or more 100%
The funds are only available for academic and research programs; they cannot be spent on construction, building renovation/maintenance, or athletics. A $15 million matching grant is the ceiling for any single, endowment contribution.
From 1979 to 2004, FAMU brought in $28,235,861 in eligible private donations that qualified it for a total of $15,956,310 in matching money. The overall sum, $44,192,171, was the seventh best performance in the State University System and placed FAMU ahead of UNF, UWF, FGCU, and NCF.
There is no word on when the legislature will start paying its outstanding matching gift balances.
10 comments:
http://www.youtube.com/watch?v=EuAVgWJ28Hw
The Florida taxpayers do need to go Stewie on these legislators at the ballot box. The state senators and reps need to either get rid of the harmful tax breaks or step aside.
Really. As soon as something happens, the cry will be, "where was the governmental oversight?!".We ought to see by now that one of the few things that we've not planned and spent money well is the public trust, infrastructure period. And that includes much more than roads. Idiots. Its so sad to see what others have been able to accomplish and we are still stuck in the late 70's in many respects. And socially we act like we've made real progress too. I think people like bandages instead of cleaning/disinfecting and mending and healing the wounds. Wake up!-Spike Lee
I'm sendind a letter to Sen. Martinez today! This is foolishness. I mean, do they think our attention span is that short? The most historical election and inaguration of our union's history was just weeks ago and these idiots are fighting. They don't know a fight, but once the American citizen gets tired of their sh*t... Fix this sh*t BIG and for real or we might as well look to be called something else sooner than later. Now that's REAL. Get used to the word trillion. Its just a thousand billions. Means nothing if your not viable. SPEND THE MUCKIN' MONEY! The government is the only intity which can be broke and still spend. Fix this so we all won't be broke and working for euros or something foreign I tell ya. Muckin' IDIOTS.
*entity (among other mistakes, but hey this IS a blog). Much LUV
Wow. Even the Florida Legislature has trouble paying its bills on time.
What the state owes
Lawmakers froze matching gift programs last year, creating a backlog of matching grants for donations to the 11 state universities. This list covers only the Major Gifts Program, not money donated for construction projects.
Florida A&M University: $573,643
Florida Atlantic University: $4.9 million
Florida Gulf Coast University: $3.9 million
Florida International University: $8.7 million
Florida State University: $11.8 million
New College: $1.2 million
University of Central Florida: $4.5 million
University of Florida: $50.8 million
University of North Florida: $1.9 million
University of South Florida: $13.1 million
University of West Florida: $527,382
Source: Florida Board of Governors
Damn, I wish we could raise million like the other schools to match.
^^^So the state might be behind in bills for construction projects too?
If the matching program money cant be used for construction and renovation...then is there another program for that??? Construction and building is where I'd like to see the use of my donation.
I agree. There needs to be a massive and deliberately collective campaign for defining and enhancing the enviornmental effect of the campus. Give the people visual proof of the direction of ours and our leadership's vision. Its high time for a new deal! We need to be everywhere making friends with interest in our mission and our overall visionary trajectory. I'm ready to represent FAMU to the world!
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