Donor pitches life insurance to raise FAU millions
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#180634
(In Topic #31748)
VIP DONOR
Member since 2004
Posted
Wise Owl
Member since 2004
Donor pitches life insurance to raise FAU millions
GO OWLS!!!
2017 and 2019 Conference USA Champions
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VIP DONOR
Member since 2007
Donor pitches life insurance to raise FAU millions
Donor pitches life insurance to raise FAU millions
Lm77 said
On one hand, it seems to be a way to ensure making $100 million. In fact, it would be nice if we could do this method plys fundraise as we normally do to double the income.
That being said, the last thing we want is to be involved in something unethical or criminal. Between the corvette and Davenport, I think we've had enough excitement for the decade. I'd like to see FAU transition into a phase of respectable money-making and academics.
Input from our peer institutions affects our U.S. News Rankings, which is important as we try to move up to Tier 3.
Posted
Wise Owl
Member since 2007
Donor pitches life insurance to raise FAU millions
I guess the worst thing about this is that only very elderly, sick and people who are expected to die soon are sought out for their policies. Its a reputation thing. It doesn't sound like something that would be too appealing to make known to the public.
"FAU raises funds by purchasing life insurance policies from people they hope will die soon."
Other universities, like UM, have gotten funds through traditional methods with great success. As a matter of fact, hasn't UM just undergone an extensive fund raising campaign? Like hundreds of millions of $.
I really hope the next guy they bring in for fund raising is a good one.
I remember when Paton left for another college and it was annouced that Davenport was to replace her. My thoughts were, if he was qualified to do the job, why did they hire Paton. As it turned out, he isn't qualified.
FAU - THE REAL SLEEPING GIANT
Posted
Wise Owl
Member since 2004
Donor pitches life insurance to raise FAU millions
GO OWLS!!!!
2017 and 2019 Conference USA Champions
Posted
Bird of Prey
Member since 2006
Donor pitches life insurance to raise FAU millions
As much as I would like to get my money's worth from any insurance company I would be a little hesitant of someone peddling an insurance "deal" who will benefit financially. I hope Mr. Brogan does his research on this one.
Posted
Wise Owl
Member since 2007
Donor pitches life insurance to raise FAU millions
FAUFBL said
We need honorary assistant coach Gary to check this "deal" out.
As much as I would like to get my money's worth from any insurance company I would be a little hesitant of someone peddling an insurance "deal" who will benefit financially. I hope Mr. Brogan does his research on this one.
The university no doubt has its own legal council.
FAU - THE REAL SLEEPING GIANT
Posted
Wise Owl
Member since 2007
Donor pitches life insurance to raise FAU millions
The down side, the foundation will have to provide the capital out lay to buy these policies. Some of these policies might have to be held for a long period of time producing no income until they are paid off. It will take alot of money to buy these policies.
He wasn't too sure how this would be set up. Its not nearly as simple as people might think or is covered in the article.
The up side is buying life insurance policies is much more of a common thing than we thought and is not unethical or illegal by any means.
FAU - THE REAL SLEEPING GIANT
Posted
VIP DONOR
Member since 2007
Donor pitches life insurance to raise FAU millions
I'm just curious if Barry Kaye stands to make any money by having the FAU Foundation buy these policies… sort of a middleman fee.illinoisowl said
The down side, the foundation will have to provide the capital out lay to buy these policies. Some of these policies might have to be held for a long period of time producing no income until they are paid off. It will take alot of money to buy these policies.
I would be nervous about putting out a lot of money on the hope that they will eventually yield a lot of money. We could sit on our eggs for a long time and get a lot of bad press, which is the last thing we need.
I would push for a traditional money-making approach.
Posted
Wise Owl
Member since 2006
Donor pitches life insurance to raise FAU millions
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