Siouxperman8 Posted May 4, 2022 Share Posted May 4, 2022 24 minutes ago, jdub27 said: Who's arguing any of that? The bigger question is the money coming from the REA Foundation (reserves) or the Engelstad Foundation? If it is the latter, tough to take issue with it. If that is where they would like money to go, while it could likely move the needle more in other spots, take what is offered and say thank you. If it is the former, then its being funded with money generated by the athletic department as a whole that were held back and not sent to the athletic department and there is some room for discussion. My often flawed memory is that the the scoreboard money was $2 mil from REA Foundation and $4 mil from Engelstad Foundation. Quote Link to comment Share on other sites More sharing options...
Popular Post nodak651 Posted May 4, 2022 Popular Post Share Posted May 4, 2022 2 hours ago, SIOUXELEVENS said: What bothers me is why should we being telling other people how to spend their money , if the Engelstads want to spend it on the hockey team their choice, just like people telling Musk he should have spent 44 billion on world hunger , his choice not anybody else. 1 hour ago, fightingsioux4life said: The issue is that some of that money is generated by UND student-athletes. That should benefit the athletic department as a whole. That is how intercollegiate athletics is funded, whether you or I like it or not. ooops this is long. sorry... I think there is general confusion on REA funds vs. Engelstad Foundation funds. This is partly caused by Kris Engelstad taking credit for the Betty when it was really just financed by them and the REA had to pay off the loan with money generated by UND athletics. Scoreboard was 4 million Engelstad Foundation funds and 2 million REA funds. The 3 million dollar locker room reno and this 5 million dollar reno are reportedly all from the Engelstad Foundation, and if that is the case, I'm very thankful. I just think a lot of people don't really understand the dynamics between how UND and the REA operate, and that there is a difference between the Engelstad Foundation money and REA money and UND money. Some people think Engelstad Foundation funds are really the REA's funds, and some people think the REA's funds are some type of donation from the Engelstad foundation. My biggest issue is that there is a lack of transparency in regard to how and why the REA's funds get spent and allocated, especially in light of the very public fiasco about how the basketball floor was redone. The REA puts a minimum of 500k into that fund annually, with no cap. The REA is also supposed to give the remaining net income (after whatever is allocated) to UND. It's not clear how the 2-3 million annual depreciation expense is considered. In addition, there is no minimum allocation due to UND each year, and the REA allocated 0$ to UND each of the past two years - the two years prior to that combined to about 1.65 million. UND is also supposed to sign off and agree to the purpose of any of the improvement/maintenance funds before they can be used. I think the lack of transparency and the negative publicity between UND and the REA raises some fair questions about how and why money at the Ralph is spent, and it's unfair to lambast people for doing so if the questions concern the REA's funds, rather than funds donated by the Engelstad foundation. I think most of the complaining about this stuff was after the scoreboard announcement, because a portion (2m) of the funding came from the REA improvement fund. It's fair and appropriate to ask questions about this, because the REA's non-profit status is based on their mission, which is to benefit UND Athletics (as a whole), and also because they collect 52% of football ticket revenue, which they fought to keep during the usage agreement negotiations, despite those games being held at a different venue. UND has also had a basketball practice facility on their master plan for years now, and being attached to the Engelstad complex, it would make sense that at least a portion of REA improvement funds could be used there. So, how much say does UND get in strategizing the use of REA improvement/maintenance funds? Did UND want the funds to be spent on the scoreboard rather than elsewhere, or did UND know that the money wouldn't be spent anywhere, if not on the scoreboard? Was the 4 million dollar donation for the scoreboard dependent on UND approving the 2 million in REA improvement funds? Were they deciding between no scoreboard, a 4 million dollar scoreboard, or a 6 million dollar scoreboard when they granted approval for the use of those funds? When asking that question, it would also be interesting to know how the video board improvements that were done to the Betty, at that time, were factored into the equation. Again, if this 5 million dollar weight room improvement is entirely a donation, more power to the Engelstad Foundation, great, thank you! But given the history, and a lack of more in-depth reporting, I think it is fair to ask if any of the REA's funds are included in that number. It would also be nice if Brad specifically cited his source about the 5 million dollars coming from the Engelstad Foundation. Brad also mentions that the equipment may be used elsewhere on campus, as if they don't know for certain, so I would be really curious to know the follow up question, which would be about where it could potentially be used, and if it is in the pollard center, will it be donated or paid for? Also, in regard to the usage agreement stuff, I believe the Grand Forks Herald incorrectly reported that the REA aims to allocating a minimum of 500k to UND each year, as the usage agreement states that the REA aims to allocate a minimum of 500k to the improvement fund, annually. I believe the Herald misinterpreted the language when that part about the usage agreement was initially reported, and I've contacted Brad about it - he said that he will look into it to see if a correction is needed, as the sentence about this in the usage agreement is a little ambiguous. It's just odd that our AD doesn't express to fans a clear plan and strategy for the improvement of the athletic department, and given that UND has struggled so much to raise money for the HPC, it's odd that there just seems to randomly be a 5 million dollar investment in the REA weight room, which I don't think UND even thanked the Engelstad foundation for publicly?? Did UND announce anything about this whatsoever? Why not? The whole UND/REA/Engelstad Foundation situation is just bizarre. Like did Chaves even know about this? There are plenty of questions worth asking, because there is both a lack of in-depth and accurate reporting, and because UND Athletics do a terrible job of communicating vision to fans. Also, I always am going to have a lot of questions, and it doesn't always mean that I'm upset about the particular issue I'm asking questions about, such as this weight room improvement, but if I can't read a press release or read the newspaper or listen about it on the radio, to find the answers, I don't see how it is bad to ask about it and discuss it on a message board, and it doesn't mean I'm telling people how to spend their money. 5 Quote Link to comment Share on other sites More sharing options...
Oxbow6 Posted May 4, 2022 Share Posted May 4, 2022 1 hour ago, AlphaMikeFoxtrot said: Wearing Sioux gear in the northwest has resulted in people asking me if I'm a pilot. UND is a flight school to many. Walking the streets aimlessly while yelling out quotes from the movie "Airplane!" probably helps that narrative too. Quote Link to comment Share on other sites More sharing options...
The Sicatoka Posted May 4, 2022 Share Posted May 4, 2022 2 hours ago, fightingsioux4life said: The issue is that some of that money is generated by UND student-athletes. Not if it came from the Engelstad Family Trust Foundation. (People are very sloppy with language on these matters.) Quote Link to comment Share on other sites More sharing options...
The Sicatoka Posted May 4, 2022 Share Posted May 4, 2022 (I swear there's an echo in here ... because I do this every couple years ... ) If you want to learn about the various entities, and how they operate, as non-profits they file Form 990 with the IRS. You can view those here: https://www.guidestar.org/ Ralph Engelstad Arena related entities: UND Arena Services Inc <-- management of facility and engages in other 501(C)(3) allowed charitable, educational activities (like running tickeing for UND) UND Sports Facilities Inc <-- appears to own the arena based on (depreciated) assets RE Arena Inc <-- operates the arena Then there's ... Engelstad Family Foundation <-- effectively Ralph's estate at death, controlled by trustees Betty, KEM, Jeffrey Cooper (Ralph's friend and accountant), and assistant trustee Sean McGarry (yes, KEM's son). This is NOT the arena. And it has assets ... UND Alumni Association and Foundation 2 Quote Link to comment Share on other sites More sharing options...
stoneySIOUX Posted May 4, 2022 Share Posted May 4, 2022 So, that 2022-23 UND men's hockey team, eh? Amirite? Quote Link to comment Share on other sites More sharing options...
The Sicatoka Posted May 4, 2022 Share Posted May 4, 2022 25 minutes ago, stoneySIOUX said: So, that 2022-23 UND men's hockey team, eh? Amirite? Two questions remain at top of mind with me: - Will the returnees naturally progress and the offense produce? - Will "Hellboy" and "The Riddler" make us forget ... what was his name again? 1 Quote Link to comment Share on other sites More sharing options...
nodak651 Posted May 4, 2022 Share Posted May 4, 2022 1 hour ago, The Sicatoka said: (I swear there's an echo in here ... because I do this every couple years ... ) If you want to learn about the various entities, and how they operate, as non-profits they file Form 990 with the IRS. You can view those here: https://www.guidestar.org/ Ralph Engelstad Arena related entities: UND Arena Services Inc <-- management of facility and engages in other 501(C)(3) allowed charitable, educational activities (like running tickeing for UND) UND Sports Facilities Inc <-- appears to own the arena based on (depreciated) assets RE Arena Inc <-- operates the arena Then there's ... Engelstad Family Foundation <-- effectively Ralph's estate at death, controlled by trustees Betty, KEM, Jeffrey Cooper (Ralph's friend and accountant), and assistant trustee Sean McGarry (yes, KEM's son). This is NOT the arena. And it has assets ... UND Alumni Association and Foundation We need to make a wiki for this. Kinda feels like this sometimes... edit: actually, doing that is literally required if looking at the rea 990's lol Quote Link to comment Share on other sites More sharing options...
Tbone Posted May 4, 2022 Share Posted May 4, 2022 3 hours ago, nodak651 said: The 3 million dollar locker room reno and this 5 million dollar reno are reportedly all from the Engelstad Foundation, and if that is the case, I'm I am thinking that you are a little light on the locker room renovations. And yes, very grateful to a very forward thinking and generous Ralph Engelstad and family. Quote Link to comment Share on other sites More sharing options...
SiouxHawkGuy Posted May 4, 2022 Share Posted May 4, 2022 Quote Link to comment Share on other sites More sharing options...
nodak651 Posted May 4, 2022 Share Posted May 4, 2022 19 minutes ago, Tbone said: I am thinking that you are a little light on the locker room renovations. And yes, very grateful to a very forward thinking and generous Ralph Engelstad and family. I can believe that. They did a lot of nice work. If correct, this highlights my point about confusion and a lack of quality information though - newspaper reported 3 mil. Quote Link to comment Share on other sites More sharing options...
BusinessSoot Posted May 5, 2022 Share Posted May 5, 2022 Have heard one more roster spot will be open, as another has decided to leave the program. Quote Link to comment Share on other sites More sharing options...
stoneySIOUX Posted May 5, 2022 Share Posted May 5, 2022 6 minutes ago, BusinessSoot said: Have heard one more roster spot will be open, as another has decided to leave the program. Go on... lol Quote Link to comment Share on other sites More sharing options...
stoneySIOUX Posted May 5, 2022 Share Posted May 5, 2022 I was just told about it, too. It's meh lol. I wish him luck. I bet we'll see a walk on player added. Quote Link to comment Share on other sites More sharing options...
SIOUXELEVENS Posted May 5, 2022 Share Posted May 5, 2022 Well we’re waiting Quote Link to comment Share on other sites More sharing options...
BusinessSoot Posted May 5, 2022 Share Posted May 5, 2022 3 minutes ago, SIOUXELEVENS said: Well we’re waiting That will be left up to UND when they want to announce anything. Quote Link to comment Share on other sites More sharing options...
The Sicatoka Posted May 5, 2022 Share Posted May 5, 2022 4 minutes ago, SIOUXELEVENS said: Well we’re waiting Don't fret. He was only the third of his kind. Quote Link to comment Share on other sites More sharing options...
Sodbuster Posted May 5, 2022 Share Posted May 5, 2022 Well, who do YOU guys think it is? Quote Link to comment Share on other sites More sharing options...
SIOUXELEVENS Posted May 5, 2022 Share Posted May 5, 2022 Johnson Quote Link to comment Share on other sites More sharing options...
The Sicatoka Posted May 5, 2022 Share Posted May 5, 2022 6 minutes ago, SIOUXELEVENS said: Johnson Which one? And no it's not. Quote Link to comment Share on other sites More sharing options...
SIOUXELEVENS Posted May 5, 2022 Share Posted May 5, 2022 The goalie , sorry Quote Link to comment Share on other sites More sharing options...
The Sicatoka Posted May 5, 2022 Share Posted May 5, 2022 Just now, SIOUXELEVENS said: The goalie , sorry Why would he go? Feeney's in the portal. It'll be him, Hellsten, and DeRidder. He trades DeRidder for Hedquist in a year. He's got a slot. And he wasn't recruited as a number one. Quote Link to comment Share on other sites More sharing options...
SIOUXELEVENS Posted May 5, 2022 Share Posted May 5, 2022 I was just going by your hint the third of his kind , 3 goalies Quote Link to comment Share on other sites More sharing options...
The Sicatoka Posted May 5, 2022 Share Posted May 5, 2022 6 minutes ago, SIOUXELEVENS said: I was just going by your hint the third of his kind , 3 goalies Nice try, not that. Quote Link to comment Share on other sites More sharing options...
SIOUXELEVENS Posted May 5, 2022 Share Posted May 5, 2022 Brothers? Quote Link to comment Share on other sites More sharing options...
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