It will be reviewed by the IRS at a later date to determine whether or not they are able to keep that status. Most are approved originally and then reviewed at a later date.
If you want to give money, give money to Hoosiers for Good
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He is going to play for team USA in Europe this summer. It’s a fund to help cover expenses. It’s not like he’s going on vacation and asking for a fund to pay for it.
Actually, the GFM says it for all of the players not just him so that makes it ok IMO.
Either way, much different than stating that he’s asking for money for a summer of fun.
I don't what you're talking about with them being less transparent right now. If you can send me a HH equivalent link to the following things that are publicly available from HFG, I'd be happy to learn more about them as a result. I'm unaware of any publicy available information for the HH NIL Collective.
HFG's NIL Charitable Activities Policy
HFG Athletes with a deal
HFG Charitable Partners and Associated Athletes
HFG Leadership Team
Those links lead to absolutely no information. It shows who the athletes are that received the $$$, but no details of the deals. No where in there did it state how much money they had received, or how much they had given out. The staff is far larger than the HH collective and likely are receiving payment.
I’m a fan of both Collectives. The more the better. Your comments on the HH collective were hypocritical, and I was simply calling you out on that. The HFG is no more transparent than the HH collective, and that’s exactly how it should be.
And when you admit when you are wrong...I will be impressed. You can start with your statements here about HFG.
HFG established and set up by adults with executive, legal and NCAA expertise and it shows.
That makes no sense. My statements on HFG were not wrong. Their 501c3 status WILL be reviewed at a later date as it is with all 501c3 applicants. The IRS will determine if they are worthy of the tax exempt
I get that you are mad that I called you at at your Purdue troll attempt, but come on. Let it go. HFG and the HH Collective are both great things for IU.
Goofball thing to do, but that's where we are. Pretty sure TeamUSA covers all travel and meal expenses, so the reality is, whether it's 1 player or the whole team, it's most likely going to be an RnR fund. Let's see, what's a college kid going to Europe going to do with $1000 extra dollars? Not cover travel related expenses, I'll bet that much!
if its so devoid of info, it should be easy to point me towards some publicly available equivalents or something even more informative from HH's NIL Collective. If you can't, then what's that say about the HH play?
I already answered the question about the details being available after they file their info with the IRS next year. Will HH make theirs available?
People can obviously donate to whoever they want to donate to, but you can't look at the difference between the 2 with any kind of objectivity and say that one isn't much more transparent than the other.
Are you a Peegs member? I can point you to the update of how much they have taken in vs how much they have given out. I can also point you to them saying 100% of the money raised goes to the athletes.
Your hope for transparency with HFG is that you can request details NEXT YEAR.
I'm not a peegs member. Is that the level of transparency they offer? Claims on a paid discussion forum that aren't subject to any kind of audit or regulatory scrutiny?
Give your money to whoever you want. You can't tell me they're the same level of organization.
You should be. As most of the recent "questionable" NIL activity has surrounded the transfer market. Control that with better guidelines that somehow disincentives kids from transferring, but still makes it possible without as heavy a "penatly" as there was years ago...
We're still VERY early in the NIL era. I hope whoever the governing bodies end up being, continue to evolve and come up with ways to keep as much of the college community feel, as they can.
Home | HH NIL Collective
FAQ | HH NIL Collective
Those links provide about as much information as the links you provided.
And while yes, there is a disparity in executive/legal experience (although don't completely discount Eric's experience for as clownish as some view him), that disparity and any future transparency are explicitly needed for HFG to thread the needle on non-profit status. The hysterics have been as transparent as any NIL group not seeking non-profit status.
LOL, So you are walking it back. Admitting you were wrong without admitting you are wrong. May be as close as we will ever see.
I have no reason to believe that HH is anything less than 101% above board.
That said, our donations so far have gone to HFG primarily because I trust Fred and like the fact that good legit organizations will derive some level of benefit (including from us) and it is absent the absolute cringe act from these two guys.
Their website was linked above.
I have donated solely to the HH Collective so far, because the only thing I care about is getting IUBB back. If HFG added a “mens basketball only” pool, I would donate to that as well.
I didn’t walk back anything. My first comment was “If/When the IRS revokes the 501c3 status, you won’t be able to request details”.
I don’t believe the 501c3 status will stand. I think it’s fairly obvious this is more about paying collegiate athletes than doing good for charity. Don’t get me wrong, I’m all for HFG and athletes getting paid as much as someone is willing to pay them, I just don’t think the 501c3 will stand.
I seperated them because of situation. I believe the 1 free transfer rule will go away. I’m not dismissing it or disagreeing. I just wasn’t including it in this discussion. I believe that’s the only thing they can change(that makes a difference) or enforce. Also there aren’t that many game changing players that come from the portal. At least so far. I don’t think you will see that many Pack deals. It won’t be rampant anyway. That deal doesn’t seem to make much sense.
Have you contacted Fred to help him understand what he did wrong? He takes calls.
He did nothing wrong? Why wouldn’t he at least try for the 501c3? There is no downside.
Fred was a shitty AD, but I’m sure he will be very good in this role. He was a good fundraiser while AD and obviously has all the booster contacts already.
HFG is a 501c3.
Thanks to Boogie and Turnkey for the links. That's better than what they had 2 months ago, which apparently was limited to posts on TOS.
They're still not transparent on who they've done deals with.
'We put on a Fan Fest in October of 2021 where every scholarship player for IU was paid. We have made additional deals with Tamar Bates, Xavier Johnson, Jordan Geronimo and a few football players. We also put on a Youth Camp with the IU Women’s Basketball team in conjunction with the Fan Fest that allowed us to pay all eligible Women’s basketball players" Emphasis mine
It's good that they state 100% goes to athletes and they don't take a dime. At the end of the day though, the financial disclosures are still just a promise to update people once a year only on how much has been raised.
I'll admit that this website they put up a month ago is a step in the right direction and it's not as unorganized as I suspected.
You could only request HFG once a year as well.
They’ve stated that they won’t reveal details about their individual deals unless a player specifically wants them to. While I don’t believe they are doing anything wrong, if they were to reveal the details like Miami and Illinois are doing, it would put a target on their back. I don’t think you will see HFG revealing the details of their deals either.
Fair points, but I think the big thing is that very very few NIL orgs are going to disclose this information (HFG eventually being one of those exceptions), at least in the short term.
At the end of the day, it will be buyer[donor] beware, and if you are uncomfortable with the finances of the hysterics' org or just don't like them personally, then you don't need to donate. If the financial ambiguity is too much for a lot of people that want to donate, the hysterics will evolve to accommodate or alternative orgs will take their place. But NIL is so new, its going to take time to figure what the market for NIL donors wants/expects, and for the time being, its not going to be transparent, and may never really get there.
There's a lot to like about HFG, but if your primary interest is getting the highest percentage of your donation to athletes, or a specific sport in particular (most likely basketball) then HFG might not fit your goals
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If HFG is giving money to another charity they have to disclose that on their form 990. They may also have to disclose any non-trivial amounts paid to athletes for "services rendered" on behalf of those charities, or if the other charities are paying the athletes, they will be the ones disclosing that.
One of the things about funneling all this money through 501(c)(3) orgs is that very little can be kept secret. The finances of these organizations are pretty open to the public by design.
I get that. They aren’t volunteering the info though. As I’ve stated, I think there is a decent chance they lose their 501c3 status after their initial review. Regardless, both collectives are good options to donate to.
Just listened to Kristi Dosh being interviewed. She writes about the business of college sports for Forbes. Some interesting tidbits.
Most schools have 1 or 2 of either the marketplace, charity or straight donation based collectives. We have all 3.
She said fewer than 5 (the last number she saw was 3) of the charity based collectives have federal 501c3 status.
I assume HH will have to evolve to be at least as open as HFG. The website is an example. The URL was registered until near the end of March this year. It's so new it doesn't even show up for me if I google "Hoosier Hysterics NIL Collective"
At the end of the day, I want us to be on top of all this and not be out of it like the school up north right now. My meager little bit will go where I can deduct it.
Yep, good to have options, it doesn’t need to be an either or situation with the various groups. donors are going to have different goals and comfort levels, so they can choose the best fit for themselves.
Go back to college at 35 if you want to. There’s no age limit to college. There is an age limit for basketball earnings though.
We are FAR from the top of the mountain in NIL. Like a two week hike and a telescope away from even seeing the top. That said, we’re ahead of where I predicted a year ago and better than most of the Big Ten.
Fred Glass is the worst thing to happen to IU athletics in the last century. I can’t support anything he’s part of.
Fred got the (c) (3) status very quickly while others have not. There is a reason you put experienced execs in the big boy chairs.
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