New River Valley Times

College sports is big business, and the Hokie Club plays an integral role in helping Virginia Tech compete in the demanding Atlantic Coast Conference.

Through its donations, the Hokie Club has raised close to $33 million with more than $15 million going to the Hokie Scholarship Fund, which pays for tuition, books, fees and meal plans. The Collegiate Times reported approximately 550 students receive financial assistance in the athletic program. The Hokie Club reported in a news release that other fundraising initiatives include capital investments, endowments and programmatic needs.

There are a number of benefits awarded based on the financial gift to the program. They can range from parking passes, club gifts and an Inside Hokie subscription to priority seating, exclusive pregame experiences and Enter Sandman Tunnel experience, the website reported.

In 2016 a membership initiative, Drive for 55, kicked off with a goal of 25,000 members, a goal the club is closing in on. In the past year alone, membership grew 10%. Athletics Director Whit Babcock expects 20,000 members by March.

“They’ve been outstanding,” he told Tech Sideline. ” Every dollar that they raise is one less that we have to figure out. It’s probably in the neighborhood of a million dollars that they’ve created and generated. We’ve had some ticketholders and donors retain their money as a gift or roll it forward. When all of that shakes out, hopefully, we’ll be in the higher seven-figures there and try to offset it.”

The Hokie Club has approached the generated revenue with the program Jumping Around. This allows season ticketholders to convert their tickets this year into a donation. The donation results in five times priority points. Point priorities are also given for donations. 

The Hokie Club website reported ticket revenue comprises a large part of the operating budget for athletics but that has taken a major hit this year due to the COVID-19 pandemic.

In an effort to trim $15 million from the athletic department’s budget, layoffs were announced at the beginning of December along with a 10% reduction in salary for employees making more than $115,000 beginning Jan. 1. It is all designed to make up for a projected $18.6 million shortfall.

“We deeply appreciate the leadership of President [Tim] Sands and his team, the Board of Visitors, as well as our Tech athletics staff, for their willingness to help us manage through this unprecedented situation,” Babcock told The Roanoke Times. “We’re also incredibly grateful for our Hokie Club donors and others who have generously continued to support Tech athletics throughout a challenging 2020. We have asked many others to sacrifice, and we, too, must do our part.”