5430 Foundation launches, providing efficient NIL collective for Colorado football

One of Eric Belcher’s immediate thoughts when he saw the news of Deion Sanders headed to Colorado: The Buffaloes better have an advanced NIL collective waiting for him.

A long-time donor and Colorado alumnus, the entrepreneur has a track record of leading organizations. He previously served as the CEO of a payroll and services company, which acquired a number of businesses during his tenure.

So when Colorado was brought back into the national spotlight this winter, Belcher started to think about what the former MLB and NFL superstar would need. His business background kicked into gear, immediately organizing a group of fellow donors to act.

“It wasn’t really until Deion came on board that we were like, ‘Oh my gosh, we better take a look at this. We better figure out how and what’s the appropriate way for us to be able to get involved with it,'” Belcher told On3. “It’s one of those things that – we had the ‘aha’ moment. I used the phrase, we’ve got the Lamborghini, now we’ve got to put some gas in it.”

While Sanders revamped his roster and raided the transfer portal, the Colorado alumnus went to work building out the 5430 Foundation. Gathering a group of well-known Buffaloes donors, the organization began piecing together its plans this spring. By March the collective had formally assembled and in mid-May, it received 501(c)(3) status from the IRS.

Now the foundation launched its website where fans can make one-time, tax-deductible donations. It’s a formal launch for the collectives. The Buffs are 3-1, the story of the college football season after four weeks; a 42-6 road loss at Oregon halted Colorado’s two-week stint in the AP Top 25. As long as Deion Sanders is coaching in Boulder, however, the program will plenty of attention and be competing on the national stage.

Belcher said the collective isn’t affiliated with the university but has been in contact.

“Technically, we’re not affiliated with the university,” he said. “But obviously everyone on this kind of small team so far, we all know that Rick George the athletic director, and we all have a relationship – we’re all donors. The relationship is supportive, but we’re not working in tandem. I think Colorado is a bit of a unique situation to maybe some other schools where we’ve had just 20 years of frustrating football seasons.

“I think over the years, a number of people have disengaged from the program. We’re running into a lot of those people now who are very, very excited. And it’s not that they’re getting back on the bandwagon, it’s just that the product wasn’t very good for a very long time, and now they’re very excited to get back in.”

Colorado football a priority for 5430 Foundation

With funds managed and dispersed by the collective’s board of directors, athletes will fulfill their portion of agreements by working with charities, including the Boys and Girls Club of Metro Denver, Buffs4Life, Humane Society of Boulder and A Precious Child.

Part of the slow rollout of the collective has been ensuring every dollar donated goes directly to the athletes. The focus will be on Colorado football for the foreseeable future, with plans to sign NIL deals with the entire roster. Belcher isn’t ruling out expanding to other sports, with men’s basketball a likely candidate.

Already a member of The Collective Association – the trade association consisting of 21 NIL entities – the focus will be on attracting and retaining football talent. With the transition to the Big 12 less than 12 months out, getting the collective in a strong position is imperative.

Buffs4Life has been the only NIL entity operating in the Boulder market. Launched last October, the organization has signed roughly nine football players. The two collectives won’t compete to sign athletes, especially with the 5430 Foundation assisting the Buffs4Life Foundation.

Collective recognizes Deion Sanders’ wishes

With the backing of multiple well-known donors, Belcher’s collective will make sure the football program can be competitive while ensuring it follows Sanders’ wishes. The head coach has been outspoken about his opinions about collectives, stating how he’s against the recruits going after the “bag.”

That isn’t the point of the 5430 Foundation, whose name is a tribute to Boulder’s elevation. The collective wants to ensure Sanders has all the NIL tools he needs to continue building the Colorado program.

Belcher said he hasn’t had a personal conversation with him. But Sanders has already shown to be “extremely supportive” of the collective.

“I know publicly, he’s gone out on how the whole collective aspect is not at the top of his favorite list,” he said. “But he understands it, and what really understands is the NIL side, the corporate side. I’m not going to speak for him. But what he stated is that as you come to Colorado, you’re going to become a man. You’re going to be held accountable.

“We’re going to get you on the track to go to the league. And what comes with that is the opportunities that are currently being made available to the student-athletes these days that weren’t available before NIL.”