You say you are an accountant but you don't sound like one. It's already a business: a not-for-profit business.Look I am glad you are a huge Hawkeye fan, I also agree that we can see some positive results. However, as an accountant sooner or later this will have to become a business. There will be overhead there will be expenses, there will be audits and there will have to be lots of controls. This is still a bit of the wild west. Good luck.
So it already has reporting requirments Of course there are overhead and other expenses. The evaluation down the line will be the % of total revenue that is disbursed for stated purposes. That number will be skewed initially because of startup costs (legal fees, promotion expenses, etc).
With his cash contribution plus travel and other expenses, and the fair market value of his time spent constructing the organization, communicating with all stakeholders (coaches, fans, media), I'm guessing that his personal contribution is currently approaching a $ 1/4 million
We are very lucky to have him.