As we wrap up an exciting weekend, basketball season is right around the corner. I'm traveling to Baltimore for Tuesday's CAA Media Day to join basketball coaches
Matt Brady and
Kenny Brooks for the day. I wanted to take this opportunity to share a detailed update on the Convocation Center Project, specifically where we are in fundraising.
To date we have just over $3 million committed in gifts and pledges. As I've stated previously, we need to secure $12 million in pledges before the formal design and construction phase can move forward. JMU Athletics is an auxiliary unit, separate from the university's state operations budget, and all funds to support this project will come from a fundraising component, projected revenues (premium seating/sponsorships), debt service and student fees. The state has approved this project but will not, and cannot, fund any elements of this effort.
The fundraising goal is the largest single amount we've ever had to raise for an Athletics capital project, but we feel confident with where we are in the process. Over the last 18 months, we have had conversations with a wide array of individuals – including alumni, former student-athletes, community partners and corporations.
Currently, we have two seven-figure opportunities in formal discussion, along with two in the $500,000 to $1 million range and a dozen other conversations with gifts in the six-figure category. While these have all been positive, we still need to secure formal commitments. But I share all of this so that you know we are in a significantly better position to "close" these gifts than 6-12 months ago and to make a major push towards our goal.
These types of gifts are significant and they take time. We were fortunate to receive two seven-figure commitments to assist in making the Plecker Center Project a reality. While we fundraised toward the expansion of Bridgeforth Stadium, we did not receive a million-dollar gift toward that campaign. We are asking individuals, families and organizations to stretch and make commitments larger than they have considered in the past. This is an overall cultural and philanthropic shift within JMU Athletics.
We are also being creative in the types of gifts that we are willing to accept in support of this project. Historically, cash gifts, pledged over a five-year period, were the primary focus. However, discussions with prospective donors now include options for longer payment terms, land transfers, estate gifts and planned giving opportunities. Further, we are fortunate to have
Learfield Sports Properties (marketing and media rights partner) working to establish corporate naming opportunities, including the facility itself, that will help with the total goal. Learfield was a part of the group that helped secure the EagleBank Arena name at George Mason (formally Patriot Center). This is another area that we have not historically focused on but allows flexibility and creativity.
I also want to note the cohesive fundraising partnership with Nick Langridge, Vice President for University Advancement, and
David Biancamano, Senior Associate Athletics Director. The teamwork is at an all-time high. Over the last year, we've witnessed collaboration with university and athletics fundraisers – this includes joint meetings with donors sharing the project with those that haven't previously supported athletics.
In conversations I've had with constituents, we talk about the Convocation Center impacting three areas – Athletics, campus and community. This project is important to the entire athletics department as stated in our strategic plan,
Engaged in Excellence. For the basketball program, it will assist with recruiting and overall student-athlete development, gameday atmosphere and creating opportunities to generate additional revenue from premium seating and sponsorship elements, such as the scoreboard. In addition, the basketball teams currently face challenges when they are displaced from the playing floor when other events are in the building while also only having one playing court to share for practice. The new practice gym will alleviate this concern and allow for other events to take place on the main floor without displacing the teams.
This new facility will have a tremendous impact for campus as well. It will create a bigger space for commencement and regional and national events, while also providing an additional banquet location on campus.
The response to the project locally has been tremendous. In meetings I've had with local fans and supporters who aren't alumni, they see the economic value of the facility - getting more people into Harrisonburg and onto campus, not just for basketball games but for events at large. This community connection also ties directly with the university's Madison Plan for engagement.
With the importance of additional, not athletic events in the facility, we will investigate the potential of a third-party management company to maximize revenue and scheduling. We also have spent some time working with a consultant to determine the final scope of the building (lighting, sound, loading dock, etc.) to attract the top performers and acts from around the country.
This project cannot happen without private support and only moves forward when we hit our goals. The only way to predict our future is to create it. Please visit
JMUConvo.com or complete this
form to learn more about the project. The reality is larger gifts will carve-away a large portion of the goal but contributions at any level are important at this time. If you want to offer your support, please contact
David Biancamano –
biancadj@jmu.edu or 540-568-2961 directly.
With passion and pride,
Jeff Bourne (
@BourneJeff)
JMU Director of Athletics