Athletics Field House Named for Stile Family

[zippy42]

I am not sure if the news of the field house being name for Louis and Freda Stile has been discussed on here. But the recent article on gozips.com does not give full details.Here is the article CLICK MEHere is what is missing. This 4.65 million dollar gift will fund the football and basketball programs for many years. My sources tell me about $150,000 per year. This is money that can be used for anything the departments want. This is huge. BCS programs have money like this all the time. This gift will help to propel the Zips to bigger things. We need more gifts like this to make Akron a major athletic power house. I want to give a big thanks to the Stile's. They have help the Akron athletics program take a big step.

[zipboy]

I agree, a huge contribution! The football and basketball program combined have an annual budget of around 4.5M I believe. So that is an extra 3% or so increase which is a nice step up.

[GP1]

I'm not 100% sure, but this endowment is handled like others, it will be placed in an account that will earn around 10% interest per year that goes directly to the programs. If the budgets are 4.5 million dollars combined, that is 10% of their budget ($450,000). Nice hunk of change!This is a huge endowment for the athletic department. I think they spend around $10.5 per year and don't bring in nearly that amount of money in dollars generated.I don't know how much Mack had to do with this donation, but it looks good under his watch.

[FMR]

I don't know how much Mack had to do with this donation

Nothing. My contacts tell me that when he first found out about naming the Field House for the Stiles he was infuriated. His remarks do not come from someone who seems to know the Stiles very well (which he doesn't):Adds Director of Athletics Mack Rhoades, “The Stile Field House is the premier facility of its kind in the region and is being named after two wonderful supporters of the University and athletics department. Their contributions are vital to the success of our student-athletes in the classroom and in competition. We are fortunate to have such loyal, thoughtful and generous friends.”http://www.gozips.com/ViewArticle.dbml?DB_...0&ATCLID=924583Fortunately, the money for football and basketball was set up outside of Mack's control or who knows how the money would have been spent.