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re: NIL or TAF Donation Choice??
Posted on 2/4/22 at 8:47 am to BlueDogTiger
Posted on 2/4/22 at 8:47 am to BlueDogTiger
quote:
Because it’s a foundation. Can not pay for the benefit of an individual. Would lose all tax benefits for TAF and be out of business.
These foundations, like Horns with a Heart, are not formed to benefit individuals. They are formed to support other non-profits by providing them (other non-profits) with athletic "NIL", which they (i.e., Horns with a Heart) hires and pays a "reasonable, market rate" compensation. Technically, that's not a violation of tax-exempt rules.
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