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Boca couple donates $10M to Duke Athletics

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Boca couple donates $10M to Duke Athletics

Granted, they have a lot of ties to Duke and it's doubtful this would have ever gone to FAU instead simply by virtue of the fact that they live in Boca. Just wanted to bring it up because we often talk about whether the economy is hurting donations (and preventing us from getting naming rights to the stadium) and clearly there are still people out there donating.

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The donation, from Dr. Steven Scott and his wife, Rebecca, of Boca Raton, Fla., will support a new 35,000-square-foot building that will house ticket offices, a team store, staff offices and training and weight rooms for Olympic athletes.



The donation is part of Duke’s newly announced $3.25 billion fundraising campaign, dubbed “Duke Forward.” Scott, a board member of Duke University Health System, is on the campaign’s steering committee



Scott, a doctor and retired chairman of medical investment company Scott Holdings, did his medical internship and residency at Duke’s medical center from 1974-78.

Rebecca Scott, a graduate of the University of North Carolina at Greensboro, received her nurse anesthesiology certificate from Duke in 1979.

The couple has five children, including two who are students at Duke’s medical school.


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That's pretty much the gist of it but if you want more you can read the whole story

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here.

3.25 BILLION DOLLAR capital campaign. I can't get over how crazy ambitious that is, even if they only achieve a part of it.

Can't wait for us to launch another capital campaign… don't know what we're waiting for, unless maybe it costs a ton of money (throwing parties and such) to raise money.

P.S. I don't respond to guest posts. All guests are encouraged to register with the site.
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Re: Boca couple donates $10M to Duke Athletics

WOW ! That is amazing. Incredibly generous.
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Re: Boca couple donates $10M to Duke Athletics

man…. i see on the home page just…
"Boca couple donates $10M…"

I'm like Holy …. that is awesome!!!!

<open it>
…. to Duke!

WTF!!!!! ::)
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Re: Boca couple donates $10M to Duke Athletics

But think of two of the professions that typically produce some of the highest earners in the country…medical and legal. There are people in those fields (especially doctors who are business savvy and open some kind of investment group-of which there are very few) that can make very handsome earnings and credit their universities for the leg up. A Duke Law degree comes with a certain credibility that'll help get you into some pretty impressive firms and Duke has been producing high earning Docs and Lawyers for many many years, so massive capital campaigns are totally feasible.

The FAU Med school should pay dividends, in 40 years :) I'll remember you Owl2Doc! Don't go into some low wage high moral kind of practice either!! We need you to become a billionaire plastic surgeon or something.
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Re: Boca couple donates $10M to Duke Athletics

TeamBeer said

But think of two of the professions that typically produce some of the highest earners in the country…medical and legal. There are people in those fields (especially doctors who are business savvy and open some kind of investment group-of which there are very few) that can make very handsome earnings and credit their universities for the leg up. A Duke Law degree comes with a certain credibility that'll help get you into some pretty impressive firms and Duke has been producing high earning Docs and Lawyers for many many years, so massive capital campaigns are totally feasible.

The FAU Med school should pay dividends, in 40 years :) I'll remember you Owl2Doc! Don't go into some low wage high moral kind of practice either!! We need you to become a billionaire plastic surgeon or something.

+1 That is great!
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Re: Boca couple donates $10M to Duke Athletics

You call this guy out of the Urban Planning and Affairs (I think that was the name of the school anyway) you dont get $10 million…you get me complaining that $300 season tickets are too expensive.

Teambeer is the most knowledgeable FAU sports fan I know, way smarter than me.
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Re: Boca couple donates $10M to Duke Athletics

Gonna get on my soapbox here a minute…

TeamBeer said

But think of two of the professions that typically produce some of the highest earners in the country…medical and legal.

Statistically this is true but realistically it's not as good as people think it is. For instance, lawyers supposedly earn a pretty handsome salary (an average of six figures) but if you take a typical law school class - like the one at FIU, for instance - and look at what people are making even five years after graduating, it's actually something like $50k/year. The numbers are skewed when you graduate, say, 150 people and ten of them make 500k+ while the others make 50k, and the law schools like it to be skewed because it perpetuates the illusion that everyone who graduates will make six figures, which drives up enrollment. Law schools are money machines for their universities. In fact, so many law schools opened up that graduates are having a hard time finding jobs in anything law-related, to say nothing about a high paying job like corporate law where you work on multimillion dollar mergers (that's what a degree from Ivy League Law gets you).

Medicine is starting to feel the crunch too. On a given year there will be about 2x as many applicants as medical school spots (I got one in 250 out of 3k applicants, something like that) which is an important ratio to maintain because it allows medical schools to be more selective, which in theory leads to smarter doctors. Seeing this and the forthcoming Baby Boomer Dilemma (where there will soon be more retirees with multiple pathologies to manage than there will be doctors to see them), more medical schools are opening under the pretense that we need more doctors, especially in primary care fields like family medicine. From the university's point of view, they don't care if you can survive after you graduate as long as you're paying the tuition now… which keeps going up and up. The number of residency spots (a residency is required to get board certification) is staying stagnant and maybe going down because they're paid for by Medicare when everybody and their mother is trying to cut Medicare. So you have an expanding pool of student physicians graduating with high debt (mine will be in the 400s) fighting for a stagnant (or decreasing) number of residency spots who, once they go through residency, will graduate into a job market which will pay them less and less because of declining reimbursements from both the government and other health care organizations. Cataract surgery, for instance, used to pay something like $3900 for both eyes and now it pays $900. Doctors are fighting against a proposed 27% decrease in Medicare reimbursements. What's going to happen very soon here is that doctors won't take Medicare of Medicaid at all, because when you submit a claim for a $200 procedure and get $25, you can run your business into the ground. It's not sustainable income when you owe hundreds of thousands of dollars and your overhead can be between 40-70% of your gross revenue.

Point is, everybody's telling us that by and large the days of multimillion doctors are over. We'll scrape out a living, and it will be more than the average joe, but numbers will be deceiving and everybody will be out to crucify us because they believe we're the ones driving up healthcare costs.

TeamBeer said

The FAU Med school should pay dividends, in 40 years :) I'll remember you Owl2Doc! Don't go into some low wage high moral kind of practice either!! We need you to become a billionaire plastic surgeon or something.

No plastics for me… maybe oculoplastics. We'll see. A lot to accomplish between now and then.


P.S. I don't respond to guest posts. All guests are encouraged to register with the site.
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Re: Boca couple donates $10M to Duke Athletics

TeamBeer said

But think of two of the professions that typically produce some of the highest earners in the country…medical and legal. There are people in those fields (especially doctors who are business savvy and open some kind of investment group-of which there are very few) that can make very handsome earnings and credit their universities for the leg up. A Duke Law degree comes with a certain credibility that'll help get you into some pretty impressive firms and Duke has been producing high earning Docs and Lawyers for many many years, so massive capital campaigns are totally feasible.

The FAU Med school should pay dividends, in 40 years :) I'll remember you Owl2Doc! Don't go into some low wage high moral kind of practice either!! We need you to become a billionaire plastic surgeon or something.

C'mon, we're in Boca. He becomes a billionaire plastic surgeon and then we sue for mal-practice. It's a win-win for the school.
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Re: Boca couple donates $10M to Duke Athletics

I'm in! A botched eyelid tuck and my name on the stadium  ;)

And Owldoc, I hear ya, you're totally right, perhaps I should've said they're the two professions that allow for the potential of greater earnings…our Education College, or Nursing School isn't going to produce nearly as many millionaires compared to the Med School.
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Re: Boca couple donates $10M to Duke Athletics

Owl2Doc said

Point is, everybody's telling us that by and large the days of multimillion doctors are over. We'll scrape out a living, and it will be more than the average joe, but numbers will be deceiving and everybody will be out to crucify us because they believe we're the ones driving up healthcare costs.

Just curious, what are they basing that on?
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