NCAA One-time payout

[VULB#62]

Just pasted this from MLB's most recent Crusader Report released this morning.

Earlier this month, the NCAA awarded one-time payouts totaling $200 million to nearly 350 Division I institutions around the country. These excess funds stemmed from the liquidation of an NCAA quasi-endowment. Under the plan, each NCAA Division I program will receive an allocation based on the number of scholarships each school offers for student athletes. The Valparaiso University athletic department received $280,000 from this distribution, along with a strict set of rules on how those funds can be used.[/u]

In lieu of this allocation, I am excited to announce we will be establishing a $280,000 endowment fund to enhance our existing nutritional program. Our plan is to create a "snack station" stocked with sport drinks, light meals to-go, snacks, and protein supplements available to all student-athletes. Following last year's NCAA legislation pertaining to food and snacks for student-athletes, we utilized Crusader Fund dollars to increase the amount of nutritional offerings (pre-game, post-game, post-workout) available to all athletes here on campus. Again, I thank you all for your support of the Crusader Fund, which afforded us the critical foundation we needed to jump-start this initiative.

$280K is a lot of money.  Valpo has chosen to establish and nutritional endowment fund with it.  I underscored Mark's qualifier to emphasize that the $$$ must have come with strings attached.  Only speculating, but maybe facilities improvements, coach's salaries, recruiting funds were rolled out.

[vusupporter]

A story with more information on the payouts as a whole, including a document with what each school is receiving: https://www.usatoday.com/story/sports/college/2017/03/24/ncaa-200-million-payout-bonus/99582450/

The pertinent part, to your underscored statement:

'The money is to be put toward "the direct benefit of the student-athlete and their academic success, life skills, career success, health and safety and student-athlete focused diversity and inclusion initiatives," according the Q&A document. The money cannot be used for items such as coaches' salaries, strength equipment, and stadium or arena improvements aimed at fans.'

[valpotx]

Awesome, glad to hear that the NCAA did something positive for us today

[agibson]

$280K is a lot of money.  Valpo has chosen to establish and nutritional endowment fund with it.

It's a nice chunk of change, to be sure. But, in endowment terms it's not _so_ much money. Maybe it generates $14k a year. What do we have, around 500 student athletes? If you make free food available, it's not very hard to imagine spending $30 a student, and quickly.

On an individual student basis it sounds like a nice, if moderate or even modest, additional benefit. Hopefully the students appreciate the perk, and it makes their lives a little better and easier.