So the first thing is that several people, including the VP of advancement, confirmed that a new fund raising campaign will be underway in the not too distant future. Most likely, it will include funds needed for both the new nursing school as well as the new basketball arena.
The biggest news is that the arena is now going to be built not on the hospital site but north of Brown Field, behind what is now the visitor bleachers.
The visitor side will become the home side and the new arena will include suite/club seating which will be positioned to allow viewing of both football and basketball games.
The hospital site will then be used to add additional fields including an air bubble covered field for winter practice for sports like baseball.
Did anyone mention a price tag for either building project?
Somewhere, I recall mention of an $80 million fund drive to fund both. I could be mistaken.
I never heard a number but the 80 million sounds about right.
Quote from: vu72 on September 27, 2023, 10:19:42 AM
I never heard a number but the 80 million sounds about right.
Actually, 72, I got that figure from your email response to me on Monday! :rotfl:
You don't have to divulge your sources and this is not doubtful at all. But it would be interesting to know if it was side dialog with someone "in the know" or if it was stated at a podium.
Sometimes the side dialog can be very accurate, especially in the early strategy.
Nothing stated in a formal announcement format. My discussion was with the VP of advancement who told me a new campaign is in the works. Followup conversations with two in the fund raising staff told me that the campaign would in all likelihood include both facilities and went on the describe the arena structure and proposed changes to Brown Field.
Quote from: vu72 on September 27, 2023, 10:19:42 AM
I never heard a number but the 80 million sounds about right.
$80M is not sufficient to build a new nursing building and a new arena. Of course, the university may also have other sources to fund those projects.
Quote from: vu84v2 on September 27, 2023, 01:04:39 PM
Quote from: vu72 on September 27, 2023, 10:19:42 AM
I never heard a number but the 80 million sounds about right.
$80M is not sufficient to build a new nursing building and a new arena. Of course, the university may also have other sources to fund those projects.
I believe you. It was a total guess on my part. No amount was discussed.
Honest query: If Valpo could raise $300 mil for the previous campaign in a few years that was pinned to a lot of intangibles, why couldn't they raise, say, $120 mil in three years for a highly visible, bricks & mortar project that would pay immediate dividends in terms of a new and modern home for one of the university's fastest growing academic centers and a new home for the university's flagship sport (with spin-off benefits for others) that provides Valpo with national recognition on a regular basis?
IMHO, both these initiatives would produce an immediate ROI in terms of attracting more students and expanding the brand. More students means more revenue. More revenue can be used to increase faculty salaries. More attractive salaries will retain and attract scholars ......and the upward spiral gains momentum.
Nah, forget it. Just a wistful pipe dream.
Quote from: vu72 on September 27, 2023, 11:47:16 AM
Nothing stated in a formal announcement format. My discussion was with the VP of advancement who told me a new campaign is in the works. Followup conversations with two in the fund raising staff told me that the campaign would in all likelihood include both facilities and went on the describe the arena structure and proposed changes to Brown Field.
As of now, priority will go to construction of a Nursing building; completion is optimistically to occur by 2029-2030 at the earliest. The building for Athletics is to follow, perhaps soonest hoped to begin in 2030-2031, if all goes well. Obviously, these estimated plans can change in the interim
Quote from: VULB#62 on September 27, 2023, 05:53:38 PM
Honest query: If Valpo could raise $300 mil for the previous campaign in a few years that was pinned to a lot of intangibles, why couldn't they raise, say, $120 mil in three years for a highly visible, bricks & mortar project that would pay immediate dividends in terms of a new and modern home for one of the university's fastest growing academic centers and a new home for the university's flagship sport (with spin-off benefits for others) that provides Valpo with national recognition on a regular basis?
IMHO, both these initiatives would produce an immediate ROI in terms of attracting more students and expanding the brand. More students means more revenue. More revenue can be used to increase faculty salaries. More attractive salaries will retain and attract scholars ......and the upward spiral gains momentum.
Nah, forget it. Just a wistful pipe dream.
And I would add to my wistful dream that any such campaign be accompanied by extensive visuals, architectural concept drawings and heavy reliance on WHY donors need to do this. If Valpo is going to attack the "coming cliff", it need be aggressive, proactive and offer tangible, not lofty, goals. And the intensity needs to be communicated in stark, not cushy terms.
VU, as a whole, needs to take a page from what's happening in MBB in terms of promotion. Excitement is being speedily BUILT. Use the same approach to build the same excitement to support the campaign.
And BTW, I am in agreement with Pal's listing of priorities. But I see no reason why this thing cannot be "bundled." I say this because doing so expands the donor base.
I believe that most alums are like me. I want to be proud of my alma mater. I want to be able to prove we are a higher education player. I want to point to more than regional appealing stuff (but I want our region to embrace VU). I want to have a friend in California or New Hampshire to recognize Valpo as a national university. We can't do that by resorting to a history of introversion and sitting on our collective asses.
How long did it take for the 300 m endowment campaign?
Quote from: Valpo14 on September 28, 2023, 10:50:31 AM
How long did it take for the 300 m endowment campaign?
The official launch was Homecoming 2016, and they wrapped up in 2022. As is typical with these campaigns, a lot of preliminary spadework was done before the launch to ensure that x amount of money was committed at the opening.
It will be difficult to tap deeply into those who gave generously for the last campaign, especially because a lot of those gifts were prospective, i.e., pledges and bequests, and it's highly unlikely that those donors will be in a position to give a lot more.
This will be a test of the commitment of alums who didn't make a major gift for the last campaign, but who might be inspired to donate to either of these two new structures. It will also require money up front or on a short pledge timeline, because construction costs are immediate, and VU obviously wants to minimize or even avoid borrowing.
Quote from: David81 on September 28, 2023, 11:02:47 AMAs is typical with these campaigns, a lot of preliminary spadework was done before the launch to ensure that x amount of money was committed at the opening.
My recollection was that when The Bare Naked Ladies played around $140 million was announced as pledged or in the bank.
https://valpo.life/article/bare-naked-ladies-help-kick-off-forever-valpo-campaign-at-valparaiso-university/
Quote from: David81 on September 28, 2023, 11:02:47 AM
This will be a test of the commitment of alums who didn't make a major gift for the last campaign, but who might be inspired to donate to either of these two new structures. It will also require money up front or on a short pledge timeline, because construction costs are immediate, and VU obviously wants to minimize or even avoid borrowing.
This is the key difference, boys and girls, in fund raising strategy. This needs to be heavily cash-now focused. Putting a gift in one's will won't help buy nuts, bolts, girders and concrete. That's also the reason why it has to be more aggressive than FITT, which hung around for years and was not completed until the Hoger track finally got built.
By 2016, "Forever Valpo" had spent FIVE YEARS to reach the $140 million "start." They counted the $15 million Helge chapel gift in the YEAR 2011 in their "Forever" literature and web pages.
Fact check that if you will. It's why Heckler is overrated as a fund-raiser.
BUT YES, targeting a new nursing building and a major sports arena will ignite donor giving much faster than just endowment and $15 million spent on an aluminum side-car to the chapel. It had an effect somewhat like Soldier Field with the flying saucer landed. It added a ton of space for offices, "collaboration," and tumbleweeds.
Bring on the excitement!
May 4, 2011 — The $15 million gift from the Rev. Mark and Kathy Helge will support the most critical preservation issues facing the chapel while adding-------.
Many people have said that the donors of past are dropping off
Mascot change being one of many reasons why they aren't interested in the direction of the school.
Interesting to see if that's really the case.
Without the Drew family to reach out to alumni- I would think it will be a hard sell.
Nursing facilities makes the most sense-
Arena will not be done anytime soon
Powell will probably be gone by then ( one way or another)
Quote from: Valpo14 on September 28, 2023, 03:35:40 PMMascot change being one of many reasons why they aren't interested in the direction of the school
Sure thing. That's why last year's Day of Giving set a new record.
Day of Giving could probably be orchestrated in advance.
Does anyone know what the alumni percentage giving? And compared to 5, 10, and 20 years ago? That would tell the story.
Ironically, perhaps, Coach Powell's success could be read as reducing the need for a new facility, if he shows that VU can attract great players and compete even without a great athletics center. But I agree that it's time to move in this direction, and President Padilla earlier floated ideas about making it a multi-use center that could host concerts and other events. That approach could attract some outside $$$.
But a new building for nursing & health care professions plays right into a vocational hot spot (= applications) during the years to come and should take priority. We're going to need lots more nurses and other health care professionals, a scarcity fueled by the extraordinarily challenging working conditions during the past three years that have led many experienced but very burned out health care providers to leave their profession or retire.