Illinois Football Recruiting Thread

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#151      
the juiceman cometh
DReq said:
I thought when this got started there was some question about this fitting within 501(c)(3). It could be written off if the NIL is used as an advertisement perhaps but even then the amount of compensation seems totally not aligned with the alleged business purpose. Maybe that has all been solved by now but only with some fancy footwork by tax lawyers.
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Since NIL collectives primarily are for the benefit of private interests (those of the individual athletes), rather than public interests, they are generally not eligible for 501(c)(3) status. And it would be kind of ridiculous if they were. Tax exemptions for charitable donations were pretty clearly never intended to incentivize rich people to fund their favorite sports teams.

The business expenditure piece probably does work. It would be a question of how hard the IRS wants to push back, and given the perennially undermanned nature of the IRS, which has been further exacerbated by the current climate, my guess is it would not be that hard to get away with right now.

www.pbmares.com

NIL Collectives Ineligible Tax Exempt Status | IRS Penalties

The IRS has recently issued a memorandum asserting that Name Image Likeness (NIL) collectibles are not tax-exempt.
www.pbmares.com www.pbmares.com
 
#152      
Lee
Dan said:
https://twitter.com/x/status/1914686741518168221
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Money Fanning GIF by Vikki Downey
 
#160      
gshaw5142
Coach B has his players backs and that means something to kids nowadays. Money is tough to turn down for sure but you’ve seen 95% of his commits and current players stuck around and turn down large bags to go elsewhere. They’d go to war for this staff. We are in good hands
 
#166      
The Dying Illini
The Nico for Joey Aguilar swap has brought out some of the greatest Tennessee fan spin zones I have ever seen in the transfer portal era.

First going all in on Altmyer, then proclaming UT never wanted him and he cannot play in the SEC to going back top posting highlites and trying to stir the pot.

Never in my lifetime would I thought I would see the SEC trying to pick players off from the University of Illinois football program.

An incredible testament to Bert and what he has down to completely turn around the trajectory of this program. Hats freaking off to that man.
 
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