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The Definitive Guide to the New Hawkeye Wrestling Facility

BELDEEN

HR All-State
Jun 27, 2004
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Iowa City, IA
https://nineteen84.club/2019/08/12/the-definitive-guide-to-the-new-hawkeye-wrestling-facility/

"I don't look at it like we are keeping up with the Jones's. I look at it like what is essential and how we have evaluated what we need going forward. We need it." ~ Tom Brands

Before the U of I considers the new facility an official project about 50% of the funds need to be raised privately. This project is 100% privately funded. Once those funds are legally committed the U of I will formally announce the facility. At that point, the rest of the funds will be raised through a public campaign led by the U of I Foundation.

The first stage of fundraising consisted of seeking large donations from leaders with a vision, a passion for Iowa wrestling, and very substantial financial resources. This is where Bob Nicolls stepped up in a huge way. He not only put up a huge pledge, but he also rallied the troops and brought in a lot more still from his friends and colleagues. Jim Sinclair also stepped up big-time, as did another prominent donor who preferred to remain anonymous. Others pitched in substantial amounts, as well.

"Hopefully there will be agreement by the "uppers" in September, and then a formal announcement thereafter. There are now commitments in the 8 digits, and going up. So far we've raised 58% of the funds. All donations count, so join the herd! Go Hawks!!" ~ Bob Nicolls
Bob-Th.jpg
The project will go to the board of regents soon for approval as an official U of I construction effort (though still 100% privately funded). Although considerable planning has already occurred, more detailed and finalized renderings will be produced, and they’ll be available for the public fundraising campaign.

It has truly been a grass-roots effort, led 100% by the coaches and the fans to date. We’re committed to making it happen, and we’re bringing the U of I along for the ride. As such, the first phase has been publicized very little apart from a few posts on message boards, etc. Once it’s declared an official project, the publicity and detailed info will skyrocket.

Hopefully the whole Iowa wrestling community jumps on board and pitches in. I think it will.

If you are interested in donating, large or small please reach out to:

Kevin Collins, University of Iowa

kevin.collins@foriowa.org Ph: 319-467-3743



Post from Todd Connors Blog, interview with Randy Novak





September 22, 2017

HawkCentral, Iowa wresting announces new facility feasibility study.

"As part of our ongoing commitment to student-athletes, the department will begin a feasibility study for the potential development of a wrestling practice facility,” Barta said. “The study will allow us to evaluate our options for the continued enhancement of Iowa wrestling.”
 
Please note, most of the content is not my own, if you would like to be recognized in this post, please let me know. I know many of you prefer you remain anonymous. If I am missing details, let me know as well.
 
I read the OSU is planning on building a new center and U Mich has one and of course tOSU has one. Even Lehigh has a sweet facility. What facilities does PSU have? I never hear about anything extravagant in the way of facilities for them.
 
So with the announcement the facility is going before the Board of Regents in February when is the public campaign to kick off? Also say someone makes a donation to the university for tax reasons prior to the end of the year do they suggest donating to the wrestling general fund or will a wrestling facility code be available even though it has not gone through the Regents yet? Asking so I can tell those around me at the last 2 football games.
 
<<So with the announcement the facility is going before the Board of Regents in February when is the public campaign to kick off>>

I think we are less then a couple million away from the publc campaign.


<<Also say someone makes a donation to the university for tax reasons prior to the end of the year do they suggest donating to the wrestling general fund or will a wrestling facility code be available even though it has not gone through the Regents yet? Asking so I can tell those around me at the last 2 football games.>>

I would advise to work directly with Kevin Collins
 
With the recent tax code change and the increase in standard deduction, unless they are planning on making large contributions ($20k+ For Married couple), they won’t get a tax benefit, all other things being normal.

If you have anybody you sit by that is over 70 1/2, if they have an IRA, they are required to take an RMD (money out of thier IRA) and they will pay tax on that. There is something called a QCD (Qualified Charitable Distribution). They can fill out a form and have the money sent from their IRA directly to a charitable org. Counts towards the RMD and not taxable income.

Now, I’m not sure if the facility funding is through an org so I apologize for not knowing that. But it seems like it could got to HWC and then facility or maybe that’s already the structure. (Again, sorry for my ignorance on that). HWC should send out QCD info to all members, CPAs, financial advisors, attorneys, etc. to try and get some chunks of contributions here at the end of the year. $100k max per person per year. Just a though.
 
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So with the announcement the facility is going before the Board of Regents in February when is the public campaign to kick off? Also say someone makes a donation to the university for tax reasons prior to the end of the year do they suggest donating to the wrestling general fund or will a wrestling facility code be available even though it has not gone through the Regents yet? Asking so I can tell those around me at the last 2 football games.
Agree with Randy. Contact Kevin directly and he will get you (or anyone interested) set up. Donations can be spread over 5 years and possibly up to 7. He’ll help you determine your preferred plan and send you the appropriate paperwork. Piece of cake.
 
With the recent tax code change and the increase in standard deduction, unless they are planning on making large contributions ($20k+ For Married couple), they won’t get a tax benefit, all other things being normal.

If you have anybody you sit by that is over 70 1/2, if they have an IRA, they are required to take an RMD (money out of thier IRA) and they will pay tax on that. There is something called a QCD (Qualified Charitable Distribution). They can fill out a form and have the money sent from their IRA directly to a charitable org. Counts towards the RMD and not taxable income.

Now, I’m not sure if the facility funding is through an org so I apologize for not knowing that. But it seems like it could got to HWC and then facility or maybe that’s already the structure. (Again, sorry for my ignorance on that). HWC should send out QCD info to all members, CPAs, financial advisors, attorneys, etc. to try and get some chunks of contributions here at the end of the year. $100k max per person per year. Just a though.
Just to clarify, any donations for the facility would need to go directly to the U of I and would have nothing to do with the HWC.
 
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