NIL and Donors

[It Will Do]

Admittedly I don’t know the intricacies of how NIL works. My question though is does the money come from the same source that helps schools with coach’s contract buy outs? Will the NIL deals eliminate this resource in the future?

 

[TomEric4756]

I wasn’t expecting this … a 503(c) can collect and distribute NIL funds … donations qualify as charitable deductions

The NIL charitable organization Hoosiers For Good received federal 501(c)3 status making it one of the first NIL organizations in the country to earn a federal tax exemption.

https://www.si.com/college/indiana/...d-earns-federal-501-c-3-status-charitable-nil

 

[RickyRoe]

I wasn’t expecting this … a 503(c) can collect and distribute NIL funds … donations qualify as charitable deductions

The NIL charitable organization Hoosiers For Good received federal 501(c)3 status making it one of the first NIL organizations in the country to earn a federal tax exemption.

https://www.si.com/college/indiana/...d-earns-federal-501-c-3-status-charitable-nil

Do the players get the money and in exchange they do outreach for these non profits, or do the athletes just use the NIL to help raise money?

 

[UncleMark]

Do the players get the money and in exchange they do outreach for these non profits, or do the athletes just use the NIL to help raise money?

They get paid to promote or help raise money for the charity(ies).

 

[Bligedy]

Admittedly I don’t know the intricacies of how NIL works. My question though is does the money come from the same source that helps schools with coach’s contract buy outs? Will the NIL deals eliminate this resource in the future?

Another question is whether or not it will hurt the Varsity Club.