Marcus Lemonis million dollar challenge

[Tugg Speedman]

Marcus Lemonis, who is the star of the CNBC show "the profit," is also 1995 Marquette grad.

He was interviewed before the Xavier game by Mac and Homer on the Radio.  He announced a $1 million challenge to Marquette. If MU alumni raise $700,000, with no donation larger than $1000 and no donation too small (he said $5 is fine), he will donate the last $300,000 to make it a million.

Mac said it was part of MU's effort to raise its US News ranking.  One of the criteria is the percentage of Alumni that donate.  He wants to help raise that percentage.  We are discussing this in the endowment thread in the superbar.

Then Lemonis gave probably the best heartfelt endorsement of MU I have ever heard.  He attributed his extraordinary business sucess*** to MU.  He said he entered Marquette a directionless kid and left a confident man.  He attributed it to the Catholic based education he received.  He said with passion he believes their is no better school in the country.  He then watch the game sitting with Lovell.

Expect an email about this soon.

*** I don't know how much Lemonis is worth but I know he employs a staff of 15 just to manage his money.

[Tugg Speedman]

Marcus Lemonis' Million Dollar Challenge for Marquette
by Jim McIlvaine
January 18, 2016

http://jimmcilvaine.sportsblog.com/posts/10920044/marcus-lemonis--million-dollar-challenge-for-marquette.html

Last weekend, my friend and college classmate, Marcus Lemonis, stopped by before the Marquette vs Xavier basketball game to chat about his latest endeavor. Marcus was on the track team at Marquette when we were in school together and used to make trips to K-Mart with me during our college years. Now, he is the chairman and CEO of Camping World and Good Sam Enterprises, but most folks know of him, from his CNBC TV Show, The Profit.

(continues at link)

[Tugg Speedman]

To Donate, Click here ....

https://muconnect.marquette.edu/million-dollar-challenge#giveMil





The $1 Million Challenge

Marquette University and Marcus Lemonis, a CNBC television star of The Profit, have teamed up to launch the $1 million giving challenge. You can give now. The challenge officially runs January 5 through March 12.

Lemonis is hoping to attract members of the Marquette community who don't normally give and came up with the idea to "create awareness because every dollar matters."

The challenge has no minimum donation, and the maximum donation is $5,000. "I believe in philanthropy that is affordable and meaningful, and it is important that even more members of our alumni community are engaged with the university that gave a lot to them," Lemonis said.

The goal is to raise a total of $1 million with Lemonis donating up to $300,000 of his own funds.

Lemonis, a 1995 Marquette alumnus of the Helen Way Klingler College of Arts and Sciences, is the chairman and CEO of Camping World, the nation's largest RV and outdoor retailer, and Good Sam, the world's largest RV owner's organization. On The Profit, he assists struggling businesses around the country from a variety of industries.

[chapman]

I can do my usual easy online donation, just a couple months early this year?  In.

[The Lens]

*** I don't know how much Lemonis is worth but I know he employs a staff of 15 just to manage his money.

That seems excessive, but I also do not have 7 figures in the bank.

[Tugg Speedman]

That seems excessive, but I also do not have 7 figures in the bank.

In his case it is probably 9 figures and the first number is not 1(or even 2)

He owns over 50 companies.

[GGGG]

Donating to raise USN&WR ranking?  No thanks...

[Tugg Speedman]

Donating to raise USN&WR ranking?  No thanks...

Do you regularly donate?

If so, are you considering no withholding because it helps MU raise its ranking?

[rocky_warrior]

In his case it is probably 9 figures and the first number is not 1(or even 2)

He owns over 50 companies.

Um yeah, He's not on the Forbes billionaires list, which goes to about 1700 people.  Most reasonable estimates are in the $150MM range. 

[GGGG]

Do you regularly donate?

If so, are you considering no withholding because it helps MU raise its ranking?

I no longer donate regularly because Marquette doesn't meet my philanthropic interests.  I would not be inspired to give again simply to help their USN&WR ranking.  I find that embarrassing. 

[kmwtrucks]

You find trying to raise our Academic profile embarrassing?   The higher you are ranked as a private school (or really any school) the better students you get which produce better graduates which makes wealthy graduates which raises you endowment which helps raise your national ranking and profile.   Do you think all the money we spend on the Mens BBALL team is a waste as well?  DePaul spends 40% what we do and it seems to work well for them. 

[Frenns Liquor Depot]

I no longer donate regularly because Marquette doesn't meet my philanthropic interests.  I would not be inspired to give again simply to help their USN&WR ranking.  I find that embarrassing. 

There is a difference between metrics and objectives.  It was probably poor words by Mac to simplify it that way, but an effort to increase the participation rate of giving by alums is important - which has many benefits including raising the profile in a magazine (among many others that are likely more important). 

I think your comments and negativity are kind of unfounded...if you don't like giving to MU that is fine but to act like it is an imposition or a bad thing seems a bit aggressive.

[GGGG]

You find trying to raise our Academic profile embarrassing?   The higher you are ranked as a private school (or really any school) the better students you get which produce better graduates which makes wealthy graduates which raises you endowment which helps raise your national ranking and profile.   Do you think all the money we spend on the Mens BBALL team is a waste as well?  DePaul spends 40% what we do and it seems to work well for them. 

I am all for raising money to increase the quality of, and access to, Marquette's academic programs.  If that helps to increase Marquette's profile, that's great!  But as I have said before, I have little interest in Marquette getting "better students" for the sake of USN&WR rankings, which are based on poor metrics.  I am much more interested in giving to organizations that provide better access for students who are less able to afford a college education.

[TAMU, Knower of Ball]

I am all for raising money to increase the quality of, and access to, Marquette's academic programs.  If that helps to increase Marquette's profile, that's great!  But as I have said before, I have little interest in Marquette getting "better students" for the sake of USN&WR rankings, which are based on poor metrics.  I am much more interested in giving to organizations that provide better access for students who are less able to afford a college education.

USN&WR are poor metrics. But the reality, like it or not, is that those are the rankings that students, parents, and professionals use. The higher you are, the more prestigious you are perceived. It's like RPI. We all know it's not the best system but it's the one the committee uses. Nothing wrong with playing to the metric.

[GGGG]

There is a difference between metrics and objectives.  It was probably poor words by Mac to simplify it that way, but an effort to increase the participation rate of giving by alums is important - which has many benefits including raising the profile in a magazine (among many others that are likely more important). 

It isn't nearly as important as people say it is.  I hear this gripe all the time from people inside the profession.  "Do you want us to increase the participation rate, or the total amount of money given?"  Because both require different resource allocations, and most schools are going to chose the latter over the former and allocate their resources in that manner.  (ie, focus on hiring people who work on receiving major gifts versus annual gifts.)

And philanthropic studies have shown that large givers do not necessarily give smaller gifts when they are younger.  Undergraduate giving rates have been dropping steadily for years.  Last year, less than 10% of alumni gave back to their respective schools, yet the overall dollars raised for higher education continues to increase. 

You won't hear schools say this but participation rate isn't much of an indicator of anything.

I think your comments and negativity are kind of unfounded...if you don't like giving to MU that is fine but to act like it is an imposition or a bad thing seems a bit aggressive.

It's a personal opinion.  I personally think it is embarrassing that Marquette, or any other school, is basing a fundraising campaign on seeking a higher USN&WR ranking.  If others are motivated by that, write a check. 

[GGGG]

USN&WR are poor metrics. But the reality, like it or not, is that those are the rankings that students, parents, and professionals use. The higher you are, the more prestigious you are perceived. It's like RPI. We all know it's not the best system but it's the one the committee uses. Nothing wrong with playing to the metric.

In my opinion, yes there is.  This isn't like the NCAA tournament and RPI.  There isn't a champion that is crowned at the end of the day. 

[JWags85]

Um yeah, He's not on the Forbes billionaires list, which goes to about 1700 people.  Most reasonable estimates are in the $150MM range.

But that doesn't mean Heisenberg is wrong.  There are 600 billionaires in the US, you have to be worth $1.5B+ to make it on the Forbes 400 these days.  I'd wager there are also a couple thousand between $500M-$1B in that case.  So if Lemonis was worth $300MM, he's fantastically wealthy to be sure, but he wouldn't come close to sniffing any of those lists.

When you look at accountants, lawyers, investment professionals, I don't think its crazy for someone of that worth to have that sort of staff managing his money.

[GGGG]

But that doesn't mean Heisenberg is wrong.  There are 600 billionaires in the US, you have to be worth $1.5B+ to make it on the Forbes 400 these days.  I'd wager there are also a couple thousand between $500M-$1B in that case.  So if Lemonis was worth $300MM, he's fantastically wealthy to be sure, but he wouldn't come close to sniffing any of those lists.

When you look at accountants, lawyers, investment professionals, I don't think its crazy for someone of that worth to have that sort of staff managing his money.

Right.  If his net worth was all cash, that is excessive.  But since his worth is through ownership of "50 companies," having that many people working for him makes a lot of sense.

[MURFC]

In my opinion, yes there is.  This isn't like the NCAA tournament and RPI.  There isn't a champion that is crowned at the end of the day.

Yeah, it isn't like the NCAA tournament....the stakes are higher.  Like it or not, students/parents are absolutely going off these rankings. Failure to compete for students will be the downfall of private catholic institutions.   You have to play this game....as distasteful as it is.  Right now...the rankings make it look like Marquette is on par with the University of Tulsa and Denver University.  Last year, we were neck and neck with Miami U, Michigan State, and Indiana.  Which company would you rather keep?

[Frenns Liquor Depot]

It isn't nearly as important as people say it is.  I hear this gripe all the time from people inside the profession.  "Do you want us to increase the participation rate, or the total amount of money given?"  Because both require different resource allocations, and most schools are going to chose the latter over the former and allocate their resources in that manner.  (ie, focus on hiring people who work on receiving major gifts versus annual gifts.)

And philanthropic studies have shown that large givers do not necessarily give smaller gifts when they are younger.  Undergraduate giving rates have been dropping steadily for years.  Last year, less than 10% of alumni gave back to their respective schools, yet the overall dollars raised for higher education continues to increase. 

You won't hear schools say this but participation rate isn't much of an indicator of anything.

It's a personal opinion.  I personally think it is embarrassing that Marquette, or any other school, is basing a fundraising campaign on seeking a higher USN&WR ranking.  If others are motivated by that, write a check. 

Fair enough and I know you have personal experience here.  My experience says that engagement drives a lot of positive things that include giving of money but usually extend farther (time, effort, advocacy, etc). 

I just question why this is a bad thing and it warrants so many negative responses when both the university and a high profile alum are trying to do something positive.

[mu-rara]

But that doesn't mean Heisenberg is wrong.  There are 600 billionaires in the US, you have to be worth $1.5B+ to make it on the Forbes 400 these days.  I'd wager there are also a couple thousand between $500M-$1B in that case.  So if Lemonis was worth $300MM, he's fantastically wealthy to be sure, but he wouldn't come close to sniffing any of those lists.

When you look at accountants, lawyers, investment professionals, I don't think its crazy for someone of that worth to have that sort of staff managing his money.

15 people are probably managing the affairs of multiple folks like Lemonis.

[rocky_warrior]

But that doesn't mean Heisenberg is wrong. 

You (and Heisy) are correct, for some reason my (stupid) mind was thinking 9 figures would be billions.  But, I may still disagree that the first number is higher than a 2. Nonetheless, ML is doing way better than me (and he's only 2 years older).

[Tugg Speedman]

You (and Heisy) are correct, for some reason my (stupid) mind was thinking 9 figures would be billions.  But, I may still disagree that the first number is higher than a 2. Nonetheless, ML is doing way better than me (and he's only 2 years older).

Keep in mind Lemonis is not done.  He has the staff to oversee all his companies and he works like a dog. 

He's in his early 40s and 20 years from today he could be worth 10x his worth now.

----

Also the rumour is he going to pay for the new B-School (again this is the rumour). 


http://www.celebritynetworth.com/richest-businessmen/ceos/marcus-lemonis-net-worth/