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re: So this is how Cam Newton and Father got off easy...
Posted on 1/14/11 at 9:09 am to Tiger Ryno
Posted on 1/14/11 at 9:09 am to Tiger Ryno
I wonder if there is a rule for Not-for-Profit organizations giving kids money.
I can just visualize boosters from a school or from many schools "Donating" money to a NFP organization. Remember that donations are usually cash, not traceable, not taxed, and most importantly anonymous.
Then that organization decides which members of its organization (HS athletes), need to be helped to make it through tough times.
I mean its all about helping those in need right. And who needs more help ($$$$,IPOD,Cars,Free Apt. Rent) than poor HS kids (football players) trying to overcome there situation.
cough...Sean Nelson....Cough, cough
I can just visualize boosters from a school or from many schools "Donating" money to a NFP organization. Remember that donations are usually cash, not traceable, not taxed, and most importantly anonymous.
Then that organization decides which members of its organization (HS athletes), need to be helped to make it through tough times.
I mean its all about helping those in need right. And who needs more help ($$$$,IPOD,Cars,Free Apt. Rent) than poor HS kids (football players) trying to overcome there situation.
cough...Sean Nelson....Cough, cough
This post was edited on 1/14/11 at 9:11 am
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Posted on 1/14/11 at 9:42 am to tigerbill002
quote:
I wonder if there is a rule for Not-for-Profit organizations giving kids money.
What's wrong with telling a player "Come to School X and we'll pay you after you are done, four or five years from now."?
Or, why not threaten a kid telling him if he doesn't come to School X then they will burn his mother's house down?
Posted on 1/14/11 at 9:47 am to tigerbill002
quote:
I wonder if there is a rule for Not-for-Profit organizations giving kids money.
Yes there is. Go to www.irs.gov and pull up the Form 1023 application and you will see how it has to be done.
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