B
Brian Shoemaker
Guest
January 16, 2022
We are sending handwritten thank you notes, but an influx of supporters after the bowl game has caused a backlog.
Please know your support is very much appreciated!
BUSINESS DEALS
Garnet Trust has helped facilitate the following deals:
- 360clean and Spencer Rattler
- 360clean and Josh Vann
- 360clean and Parker White
- Firehouse Subs and Jaheim Bell, Darius Rush, Xavier Legette, E.J. Jenkins (Christmas shopping spree)
- Gamecock Traditions and Dakereon Joyner
CROWDSOURCED FUNDS
Garnet Trust launched on November 15. All figures are as of January 14.
- We received contributions from 247 supporters
- Those supporters contributed $30,967 for NIL deals
- The total will be $63,339 if all monthly supporters continue for a year
Congratulations and thank you very much!
We have a lot of momentum right now.
But it was a very slow start:
- The 28 days after launch saw 45 fans contribute
- The next 28 days saw 181 fans contribute
And the bowl win kicked it into overdrive.
Of the $30k raised so far, over two-thirds was contributed after the bowl game (only 2.5 weeks ago).
- The slow start required conservative spending
- $3,050 has been paid to USC student-athletes
- There are contracts in place for upcoming deals
Again, new deals are in the pipeline and more are being worked on.
We WILL get your contributions to the players!
You'll see (and meet?) a lot more of your favorite Gamecocks very soon!
WHAT PERCENTAGE?
On the Garnet Trust FAQ page, one question is: What percentage of funding will go directly to players?
The answer on the FAQ page is: Players keep at least 90% of funds contributed by fans. That’s our goal. The percentage will vary based on operating costs plus expenses required for players to perform NIL services.
We want to do better. We want 100% of contributions to go to student-athletes or to expenses directly related to raising funds for student-athletes (for ex: purchasing a football a student-athlete will be paid to autograph).
That means operating costs will be paid for by fees generated from business deals and, if needed in the short term, a loan from the owner. We are looking for ways to raise funds to cover such expenses. (Fundraising ideas, anyone?)
No salaries are being paid. No withdrawals are being taken by ownership.
You may be able to help. To keep expenses down, we're seeking professionals and businesses to volunteer/donate services and products. Interested? Please email us at info@garnettrust.com.
ADVISORY BOARD
To review our finances, we're in the process of putting together an advisory board of lettermen who are successful business professionals.
Two lettermen have accepted our invitation and we're waiting to hear from one more.
In addition to reviewing finances, the board members will be available to serve as mentors for Garnet Trust student-athletes.
Thank you for your support!
Thank you for caring!
You ARE the Garnet Trust!
ADDITIONAL ITEMS
We anticipate releasing our next financial report after February 28.
Given how new the Garnet Trust is and how many legitimate questions have been asked, this report will also be posted publicly. In the future, that may not be the case.
Would you mind telling a friend or two about the Garnet Trust?
If you would like to increase your recurring contribution or make a one-time contribution, please email us at billing@garnettrust.com.
We never want you to be surprised about a charge to your credit card. You should receive an email reminder a week in advance of each monthly/yearly charge and an email receipt once the charge has been processed.
LINK: https://garnettrust.com/contribute-to-garnet-trust
