Way to not start out:
Money will be a problem for the Women's Basketball Hall of Fame for years to come, as State Farm announced plans to kill its sponsorship of the museum's annual college hoops tipoff event.
Carol Callan, a member of the recently retooled and expanded board of directors for the museum, explained State Farm's decision to drop its sponsorship worth $140,000 a year.
"I think it was a case that they've been donating for quite some time," she said Monday during a Hall of Fame board of directors meeting. She added that the insurer will instead work more with the WNBA, where they can get "more exposure."
That loss comes as Knox County Mayor Tim Burchett has said that county funding for the museum could be cut in coming years.
That's great for the WNBA, but.....
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Based on the article it looks like the WBHOF will be better off than they were before. They got rid of the person "running" it that was paying herself $400K annually and somehow discovered that they have four million dollars sitting in the bank. You've got to wonder what the heck the Board was doing in the past. Every nonprofit should have four million bucks sitting around! Makes the financial impact of the loss of State Farm sponsorship much less impactful.
No where to go but up if they start running it like a business as one of the board members indicated they intended to do.
Hopefully they'll get a new sponsor to step up to the plate.
Timing is good with London coming and the likelihood of a USA taking the gold. Should be some enthusiastic support over the next several months at least.
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