Tulane Unveils Details of Million Athletics Fundraising Drive
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Feb. 25, 2004
NEW ORLEANS -Tulane Athletics' Perpetual Wave Campaign, a $65 million, five-year fundraising drive, will focus on four specific revenue areas, including Ticket Revenue, Capital Improvements, Endowment Donations and the Tulane Athletics Fund, according to details of the campaign announced Wednesday by Tulane Director of Athletics Rick Dickson. Complete information on the campaign is now available on-line at www.Perpetual Wave.com. The link can also be accessed through the Tulane official athletics website at www.TulaneGreenWave.com.
The campaign goal of $65 million for the Perpetual Wave includes the goal of averaging $3 million annually in ticket revenue and in Tulane Athletics Fund donations over the life of the campaign while also more than doubling membership in T.A.F. Tulane will endeavor to raise another $15 million in donations for three specific capital improvement projects: a $5 million renovation of Turchin Stadium, a $2 million addition to the Goldring Tennis Complex, and an $8 million project to address the long-term home of the Green Wave basketball and volleyball teams. Finally, the campaign will look to increase the Ben Weiner Endowment Fund principal by $20 million.
The Perpetual Wave Steering Committee, led by chairs George Shinn and Pat Denechaud, includes former student-athletes, community leaders and alumni and is divided into subcommittees which concentrate on the different revenue areas. The committee, which now numbers 67 individuals, continues to grow and is a critical element to the success of the campaign.
"The success of this campaign is critical to the long-term success of Tulane Athletics," Dickson said. "Every program has its defining momen in history, and I am confident this will be the defining moment for Tulane Athletics. The involvement and participation of the all-star Steering Committee instantly assures that Tulane constituents everywhere will join us in meeting the challenges which these goals present."
The renovation of Turchin Stadium, which is slated to begin this year, will increase seating capacity to approximately 5,000 and provide for a new press box and suite area, while adding many amenities, including a courtyard area outside the main entrance of the stadium. The Goldring Tennis Complex addition was initiated by an anonymous lead gift of $2 million and will include improved stands for spectators, locker rooms and a large multi-purpose space between the tennis complex and the Westfeldt Facility to be used by the department and additional groups throughout the year. The basketball/volleyball project is still in the developmental stages but will address the long-term future of Fogelman Arena.
Including endowment monies raised during the Think Green campaign last spring, the Ben Weiner Endowment is well on its way to the Perpetual Wave campaign goal of $20 million. Donations, usually in the form of major gifts, to the endowment are added to the principal, and Tulane Athletics and its 320 student-athletes annually receive the interest income from that investment.
Ticket revenues are collected from football, men's and women's basketball, baseball, volleyball and soccer, with the largest portion of that -- $1.65 million per year - expected to result from football ticket sales. The renovation of Turchin Stadium is expected to significantly impact the amount of revenue which can be realized from the sale of baseball tickets.
Annual donations to the Tulane Athletics Fund have increased each year since 1999-2000 and surpassed the $1 million mark in each of the last two years, including reaching an all-time high of $1.503 million in 2002-03. In addition to its dollar-figure goal, Perpetual Wave has set a goal of increasing the number of contributors to T.A.F. from nearly 1,900 who donated last year to more than 5,000 by the end of the campaign. With the kickoff of the annual spring fundraising effort next week and a concerted effort on many different fronts, Dickson feels the $2.3 million figure for 2003-04 is well within reach.
"T.A.F. is our short-term ladder that bridges us to the long-term success of Perpetual Wave," Dickson said. "In terms of T.A.F. donations, we are already 42 percent ahead of where we were at this point last year, which resulted in a record total of $1.5 million, and have more than 400 new donors. This year's T.A.F. drive is the first critical step toward reaching our campaign goals."
More information on the 2004 T.A.F. spring fundraising drive, which will be highlighted by an expanded "Spring Tour" around the state and region, will be announced next week. Fans and all interested parties are urged to find detailed information on all of these projects and much more at www.PerpetualWave.com or by calling Tulane Athletics at 504-865-5356. Donations to the Tulane Athletics Fund can also be made on-line via the website.
-- Roll Wave! --
