Arthur B. Edge Jr. Intercollegiate Athletic Center Renovation Challenge
$10 Million Commitment to Fund Challenge Grant
An anonymous donor has established a $10 million challenge grant designed to inspire charitable gifts and commitments to finalize funding for the $70 million Edge Center renovation.
CHALLENGE AND PROJECT DETAILS
Why is the challenge being issued now?
The anonymous donor recognizes the importance of a new Edge Center to the future of Georgia Tech Athletics. The donor also recognizes the urgency to achieve the $70 million fundraising goal in order for the design and construction to commence as soon as possible.
What is the goal for the challenge?
The anonymous donor’s objective is to inspire other donors to make gifts and commitments totaling $10 million by June 30, 2020. Once complete, we will have attained our fundraising goal for the project.
How does the challenge grant work?
Donors who wish to meet the challenge must make a qualifying gift or multi-year commitment, payable over a five-year period. Gifts from all challenge grant participants will be matched on a dollar-for-dollar basis by the anonymous donor which will qualify them for any available commemorative gift opportunities, thus doubling the impact of each participating donor's gift and the value of corresponding gift recognition.
What gifts and commitments qualify for this match?
Only new gifts and commitments made on or after December 1, 2019 and designated for the Edge Center renovation qualify. Donors who have made gifts/commitments to other allocations within athletics cannot cancel and re-book a qualifying current commitment.
Who gets the recognition?
The anonymous donor is conveying all commemorative naming opportunities—including the challenge grant monies—to the qualifying donor(s). The qualifying donor(s) may name the respective area in the facility in their own name(s) or in honor or memory of others. Essentially, the qualifying donor will be gaining a naming opportunity for twice their gift level it would otherwise need. For example, a new qualifying commitment of $125,000 would earn a naming recognition at the $250,000 level.
Where can I find a list of naming opportunities?
Currently, only conceptual renderings are available. Once the final scope and design for the project are completed, an official commemorative gift opportunities list will be created and shared with qualifying donors.
What naming opportunities are envisioned?
There will be significant commemorative gift opportunities at $1 million and above for high profile spaces which are likely to include: atria, individual team office suites, outdoor terraces/overlooks, sports medicine, student-athlete leadership, student commons/dining, innovation, and analytics/performance. Additional naming opportunities will be available from the $25,000-$999,999 levels as well.
What if I made my gift/commitment to the Edge Center renovation prior to December, 1 2019?
Donors who made gifts/commitments prior to December 1, 2019 will have the first choice of naming opportunities.
What is the process for selecting a naming opportunity?
Donors that made a gift/commitment prior to December 1, 2019 will have the first choice. Challenge grant participants will then have the choice to select an opportunity at half the listed value. Order of selection will be by amount and then date of gift/commitment.
What is the minimum level of participation for recognition?
The minimum level for individual recognition is $25,000 which will include an alpha listing of all donors prominently displayed within the new facility at this level and above. Individual commemorative gift opportunities will start at $125,000.
Do my corporate matching gifts qualify as well? How about foundations or other organizations?
Yes. There are hundreds of companies who will match the gifts of their employees and, in some cases, retirees. The entire amount would qualify for the challenge. Gifts and commitments from foundations, donor advised funds, and corporations are also welcome.
When does the challenge expire?
The challenge will expire on June 30, 2020, unless subscribed fully before that date. It will count all gifts and five-year commitments to the Edge Center Renovation from December 1, 2019 through June 30, 2020.
Will an estate provision or trust qualify?
No. Only outright gifts and five-year commitments.
Where do I direct any questions or make a qualifying commitment?
Donors can direct gifts and commitments to the Alexander-Tharpe Fund. Please contact the A-T office at (404) 894-5414 or ATFund.org.