Men’s basketball program scores with rise in scholarship endowments

By James J. Lidington

Until recently, the men’s basketball team relied solely on gifts to the annual fund to pay for athletic scholarships. Today, thanks to an initiative launched two years ago by the university’s Office of Development, eight scholarships are endowed, with the goal of having the full complement of 13 supported by endowed gifts.

While coach Blaine Taylor and his staff continue to recruit promising players for a program whose fortunes are on the rise, some of the most significant “recruits” don’t show up on the team roster. These friends of the program include six alumni who have endowed five out-of-state and one in-state scholarships at their alma mater.

“I’ve been a Big Blue Club member and season-ticket holder for many years and feel like I’m making a long-term investment in the program’s future,” said Carlton Bennett ’72 of Virginia Beach, who recently established an out-of-state scholarship endowment. “I’m especially proud that I’ll be able to enjoy the benefits of watching future student-athletes represent Old Dominion University.”

According to Mark Benson, director of the Big Blue Club, a gift of $250,000 supports one out-of-state student-athlete scholarship for the life of the program; $100,000 funds one in-state endowed scholarship.

Donors typically stretch their gifts over a period of years, for example, contributing $50,000 a year for five years to reach the full out-of-state student endowment of $250,000. An ODU athletic scholarship is valued at about $18,000 a year for out-of-state students, $11,500 for in-state.

The endowment program for men’s basketball unofficially got its start when 1999 graduate Cal Bowdler, a star center for the Monarchs who went on to play three seasons in the NBA, made a gift to the university of $100,000 after signing with the Atlanta Hawks.

Taylor, for one, is pleased with the upward trend in financial support that has followed. He said that one of his goals since being named head coach in 2001 has been to help build an endowment program similar to the one at Stanford, whose program is fully endowed, and where he served as an assistant coach before coming to Old Dominion.

“It’s been really heartwarming and rewarding to be involved in the growth of our endowments,” Taylor said. “There has been a movement that went from where there was a person or two saying, ‘I think so,’ to actual momentum.

“It was a thrill to me when I got here, how receptive our administration and our foundation leadership were toward this pursuit. The pride in our program is growing, particularly among alumni. It’s connected to the pride of the past, and it’s making people feel like they want to be a part of the present and the future.”

Once endowments are in place, annual fund gifts designated for men’s basketball can support other recurring program needs, including recruiting, travel and facilities.
“Endowments take pressure off the Big Blue Club’s annual fund efforts,” said Benson. “Once a scholarship is endowed, we don’t have to raise that money again. Interest from the principal supports the scholarships.”

Jim Jarrett, ODU’s longtime athletic director, is also happy about the recent growth in endowed giving.

“Scholarship endowments are an important part of our athletic development efforts. This frees up annual donations for other important program needs. We are very grateful to the donors who make these endowments possible.”

For more information about the endowment program, contact Mark Benson at mbenson@odu.edu or 757-683-3090.