The University of Maryland Athletics Director Kevin Loh has altered the plan by which the door has been left open for Maryland to save their men’s and women’s swimming & diving teams.
The plan overall is a very favorable one. Though the rhetoric in these situations are often quite tough, credit is due to Loh in that he’s remained open to find a positive solution to the problem.
The latest plan extends the fundraising deadline to December 31st, 2012, and requires that only $5.79 million be raised at that point. Reaching the $11 million threshold (that was set as 8-years’ worth of funding) will need to be completed by December 31st, 2013. The Terrapins would then have until 2020 to reach a plateau of a full endowment of $30 million.
Beginning in February, a “text to donate” campaign will be kicked off to try and reach individual fans and swim families who wish to make an impact. This will open up a whole new world of grass roots fundraising that should provide a huge boost.
For the time being, donations can be made at this link.
Read Loh’s full address and update below.
Dear Terps:
It has been almost three months since the recommendations of the President’s Commission on Intercollegiate Athletics have been implemented in an attempt to eliminate persistent operating deficits in our athletic department. In accepting the Commission’s recommendations, President Loh also agreed to a fundraising campaign to `Save Our Sports.’ ICA has dedicated high-level development staff to this campaign, and efforts to date have included:
- Pledge of $1 million from the M Club in support of the campaign;
- Creation of a special website (http://www.umterps.com/school-bio/save_our_sports.html) for online fundraising, information sharing and progress tracking;
- Launch a “Text to Donate” campaign for each sport (February 2012);
- Contact with national and affiliated organizations for each sport to solicit publicity and financial support;
- Meet individually with prospects for each sport to secure donations.We have been working diligently with each sport to help identify and cultivate donors and to increase outreach efforts. The steering committee for Swimming & Diving, comprised of parents and alumni of the program, has been particularly active. According to reports it has already secured pledges of $1 million and developed a business plan to help secure the financial stability for their program.As athletic director, I am committed to remaining self-sufficient, with balanced annual budgets. This philosophy aligns with President Loh’s and the Commission’s recommendations. We evaluated the business plan in this context. We found that two of the tenets of the plan are not consistent with these values. Pool fees are actual hard costs related to the operation of the aquatics center. Those fees cannot be waived, because that would only transfer the burden of those expenses to another campus unit. Further, a waiver of scholarship costs to continue the program would increase ICA’s operating deficits.
Through continued collaboration, we have agreed to significant elements of the plan. Specifically, we will adjust the fundraising goal, establish periodic benchmarks to monitor the fundraising progress and give the student-athletes updates, and extend the fundraising time period, provided those benchmarks are met. The fundraising timeline will be extended to December 30, 2012 to raise $5.79 million, provided cash gifts are deposited in the University of Maryland College Park Foundation account totaling $1.4 million by April 2, 2012 and $2.8 million by June 30, 2012. Further, the original eight-year total goal of $11.57 million would be due by December 30, 2013. The goal to establish the full endowment, necessary to ensure the program’s long-term sustainability, remains in place. The full endowment amount of $36.1 million would be due in June 2020.We presented this revised plan to the Swimming & Diving Steering Committee this afternoon. It is my hope that this plan provides us with the best possible opportunity for success, while adhering to the fiscal principles that were outlined by the Commission. If the fundraising does not meet the benchmarks and the team is eliminated, all affected student-athletes will retain their scholarships through to graduation and all coaching contracts will be honored. For those student-athletes who wish to transfer, all due assistance will be provided.
We will, of course, continue to work with all other affected teams on their specific fundraising efforts. We will meet with the coaching staffs of each team next week to evaluate fundraising progress. Potential adjustments to their fundraising goals would be made on an individual basis.
Maryland Athletics is, and must remain, a self-supporting unit, responsible for covering expenses with athletics-related revenues. Our commitment to you is to pursue excellence in everything we do. Maryland fans deserve nothing less.
If you are interested in supporting the `Save Our Sports’ campaign, please visit http://www.umterps.com/school-bio/save_our_sports.html or call Cheryl Harrison at 301-314-6687 . For all of you who have already contributed to our `Save Our Sports’ campaign, thank you. Your support is appreciated more than you can imagine.
Respectfully,
Kevin Anderson
Director of Athletics
