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Sports
The UBIT Bowl?
Jan 10th
Is the Sugar Bowl disclosing all of its taxable incomes? That's exactly what the IRS will have to find out.
Last night's 2012 Allstate BCS National Championship Game is run by the registered 501(3)(c) organization, and tickets for it ranged from $300 to $350, face value. A steep price to pay but, presumably, that money was going to a good cause. ESPN reported a few days ago that the Sugar Bowl's IRS disclosure form showed that the organization gave away $6.21 million in grants in the fiscal year ending June 2010. Pretty charitable, right? Not so fast.
A closer inspection reveals that the $6 million is a grant in name only. It's really just a payment to the BCS, which theoretically uses that tax-free money to fund higher education. But, according to ESPN, the BCS uses a majority of those funds to subsidize the high ticket prices they force universities to buy. In total, the Sugar Bowl gave only $210,056 to charities in 2010, and those grants were the Southern Yacht Club and the Friends of New Orleans Lacrosse.
In the same blog post, ESPN reported some news that won't make the bowls too happy. A lobbying group called the Playoff PAC plans to ask the IRS to look into the spending of all of the bowls. They say there is a pattern of frivolous spending amongst the organizations, as well as undisclosed lobbying payments. The IRS is already looking into the regime of former Fiesta Bowl CEO John Junker who is accused, among other things, of reimbursing employees for donations they made to political candidates and throwing extravagant parties that included trips to strip clubs. This was covered in more detail in an article in last year's edition of The NonProfit Times.
Playoff PAC plans to officially file their complaint to the IRS later this month and, should it be confirmed, the bowls will be forced to pay more in unrelated business income taxes (UBIT). To put in perspective how little the bowls have paid, the Orange, Sugar, and Rose Bowls all claimed zero in UBIT revenue in 2010. The Fiesta Bowl claimed only $3,054. If the allegations by Playoff PAC turn out to be true, it means the bowls are seriously underreporting their taxable incomes.
Read the full story on ESPN.
Last night's 2012 Allstate BCS National Championship Game is run by the registered 501(3)(c) organization, and tickets for it ranged from $300 to $350, face value. A steep price to pay but, presumably, that money was going to a good cause. ESPN reported a few days ago that the Sugar Bowl's IRS disclosure form showed that the organization gave away $6.21 million in grants in the fiscal year ending June 2010. Pretty charitable, right? Not so fast.
A closer inspection reveals that the $6 million is a grant in name only. It's really just a payment to the BCS, which theoretically uses that tax-free money to fund higher education. But, according to ESPN, the BCS uses a majority of those funds to subsidize the high ticket prices they force universities to buy. In total, the Sugar Bowl gave only $210,056 to charities in 2010, and those grants were the Southern Yacht Club and the Friends of New Orleans Lacrosse.
In the same blog post, ESPN reported some news that won't make the bowls too happy. A lobbying group called the Playoff PAC plans to ask the IRS to look into the spending of all of the bowls. They say there is a pattern of frivolous spending amongst the organizations, as well as undisclosed lobbying payments. The IRS is already looking into the regime of former Fiesta Bowl CEO John Junker who is accused, among other things, of reimbursing employees for donations they made to political candidates and throwing extravagant parties that included trips to strip clubs. This was covered in more detail in an article in last year's edition of The NonProfit Times.
Playoff PAC plans to officially file their complaint to the IRS later this month and, should it be confirmed, the bowls will be forced to pay more in unrelated business income taxes (UBIT). To put in perspective how little the bowls have paid, the Orange, Sugar, and Rose Bowls all claimed zero in UBIT revenue in 2010. The Fiesta Bowl claimed only $3,054. If the allegations by Playoff PAC turn out to be true, it means the bowls are seriously underreporting their taxable incomes.
Read the full story on ESPN.
49ers Wide Receiver Gives Back
Dec 22nd
In 2005, Braylon Edwards, then a rookie wide receiver for the Cleveland Browns, gave a challenge to 100 local eighth-graders: If they could graduate high school with a 2.5 GPA and 15 hours of community service, they would each get $10,000 scholarships. Years later, Edwards is still offering this chance to college students.
In 2007 Edwards, who now plays for the San Francisco 49ers, started the Advance 100 Program through the Braylon Edwards Foundation (BEF). It's a continuation of the promise he made to those Cleveland-area kids, 79 of whom met the original criteria, according to Yahoo! Sports. The program was developed by Edwards and his mother as a way to use their good fortunes to help others. Even though they didn't expect many students to fit the criteria (only half of Cleveland public school students graduate), they went through with their commitment anyway.
Those 79 original students were provided with laptops and other supplies to help them once they arrived in college. Edwards is paid a $1 million base salary for the year, which is about half what he'll pay the Advance 100 students to get through college.
Edwards is certainly not the only athlete to help those who are less fortunate. A look at Pros Give Back, a site which tracks good deeds from athletes all over the sports world, will show many other acts of generosity like Edwards'. We've also seen similar philanthropy from athletes like Jonathan Vilma and Craig Breslow. In an age where we see athletes and owners squabbling over millions of dollars, it's good to read stories like the one coming out of the Advance 100 Program.
In 2007 Edwards, who now plays for the San Francisco 49ers, started the Advance 100 Program through the Braylon Edwards Foundation (BEF). It's a continuation of the promise he made to those Cleveland-area kids, 79 of whom met the original criteria, according to Yahoo! Sports. The program was developed by Edwards and his mother as a way to use their good fortunes to help others. Even though they didn't expect many students to fit the criteria (only half of Cleveland public school students graduate), they went through with their commitment anyway.
Those 79 original students were provided with laptops and other supplies to help them once they arrived in college. Edwards is paid a $1 million base salary for the year, which is about half what he'll pay the Advance 100 students to get through college.
Edwards is certainly not the only athlete to help those who are less fortunate. A look at Pros Give Back, a site which tracks good deeds from athletes all over the sports world, will show many other acts of generosity like Edwards'. We've also seen similar philanthropy from athletes like Jonathan Vilma and Craig Breslow. In an age where we see athletes and owners squabbling over millions of dollars, it's good to read stories like the one coming out of the Advance 100 Program.
Jacksonville Jaguars Owners Stay, To Relief Of Charities
Nov 30th
When does the sale of a football team rock the nonprofit world? When the owners of said football team are major philanthropic figures in the community.
If you are a fan of the NFL, you are probably aware that the Jacksonville Jaguars sold the franchise yesterday. You might not be as aware that the owners of the team, Wayne and Delores Barr Weaver, are the most visible and active philanthropists in Jacksonville. In an article published yesterday in The Florida Times-Union, nonprofits reacted with relief that, despite the sale, the Weavers will be staying in Jacksonville.
Words like "Thank God" were thrown around by various nonprofit executives when The Florida Times-Union approached them with the news. And it's not just because of the money they donated ($55 million to local causes since the mid-90's) that has Florida charities thankful; the Weavers changed philanthropy in the city of Jacksonville. The couple donated $27 million to The Community Foundation in 2007, most of which went to agencies in need, but $11 million of it was used to create endowments for 22 local nonprofits. Until the Weaver's gift, few Jacksonville nonprofits were endowed.
It's because of stories like that why nonprofits were excited to learn the Weavers will continue to be active in Jacksonville philanthropy through the Weaver Family Foundation. Time will tell if the new ownership of the Jaguars will be able to turn the team back into contenders. But with all this uncertainty, at least nonprofits know that their favorite football owners are staying where they are.
Make sure to read the full article on the Weavers at The Florida Times-Union.
If you are a fan of the NFL, you are probably aware that the Jacksonville Jaguars sold the franchise yesterday. You might not be as aware that the owners of the team, Wayne and Delores Barr Weaver, are the most visible and active philanthropists in Jacksonville. In an article published yesterday in The Florida Times-Union, nonprofits reacted with relief that, despite the sale, the Weavers will be staying in Jacksonville.
Words like "Thank God" were thrown around by various nonprofit executives when The Florida Times-Union approached them with the news. And it's not just because of the money they donated ($55 million to local causes since the mid-90's) that has Florida charities thankful; the Weavers changed philanthropy in the city of Jacksonville. The couple donated $27 million to The Community Foundation in 2007, most of which went to agencies in need, but $11 million of it was used to create endowments for 22 local nonprofits. Until the Weaver's gift, few Jacksonville nonprofits were endowed.
It's because of stories like that why nonprofits were excited to learn the Weavers will continue to be active in Jacksonville philanthropy through the Weaver Family Foundation. Time will tell if the new ownership of the Jaguars will be able to turn the team back into contenders. But with all this uncertainty, at least nonprofits know that their favorite football owners are staying where they are.
Make sure to read the full article on the Weavers at The Florida Times-Union.
Gleason Gras Tackles ALS
Nov 29th
Five years ago, Steve Gleason experienced one of the high points of his football life.
The former New Orleans Saints safety participated in one of the most dramatic moments in the NFL on September 25, 2006. His blocked punt against the Atlanta Falcons highlighted the re-opening of the Louisiana Superdome, which had been closed since Hurricane Katrina struck in 2005. Five years after that memorable game, Gleason announced that he had been diagnosed with ALS (or Lou Gehrig's disease), a fatal disease that damages the nerves that control muscle movement. There is currently no cure, but that hasn't stopped Gleason from trying to raise awareness.
A day before the Saints' 49-24 win over the New York Giants on Monday Night Football, The Louisiana Hospitality Foundation hosted the first annual Gleason Gras, an all day festival featuring music, games, food, and other entertainment. WWLTV covered the event, which raised $200,000. That money will go to the Gleason Family Trust to help offset the costs of living with ALS.
Yet for Gleason, this was just the opening act. He told WWLTV that the ultimate goal is to raise global and national awareness about ALS. That's a big part of why he founded his own nonprofit, Team Gleason. That organization has multiple arms, including the Gleason Initiative Foundation, which works to help other patients struggling with Lou Gherig's Disease.
History tells us that Steve Gleason will lose his battle with ALS, as many have done before him. But maybe, just maybe, his efforts can pave the way toward a cure in the future. To read more about Gleason Gras and Team Gleason, head on over to WWLTV.
The former New Orleans Saints safety participated in one of the most dramatic moments in the NFL on September 25, 2006. His blocked punt against the Atlanta Falcons highlighted the re-opening of the Louisiana Superdome, which had been closed since Hurricane Katrina struck in 2005. Five years after that memorable game, Gleason announced that he had been diagnosed with ALS (or Lou Gehrig's disease), a fatal disease that damages the nerves that control muscle movement. There is currently no cure, but that hasn't stopped Gleason from trying to raise awareness.
A day before the Saints' 49-24 win over the New York Giants on Monday Night Football, The Louisiana Hospitality Foundation hosted the first annual Gleason Gras, an all day festival featuring music, games, food, and other entertainment. WWLTV covered the event, which raised $200,000. That money will go to the Gleason Family Trust to help offset the costs of living with ALS.
Yet for Gleason, this was just the opening act. He told WWLTV that the ultimate goal is to raise global and national awareness about ALS. That's a big part of why he founded his own nonprofit, Team Gleason. That organization has multiple arms, including the Gleason Initiative Foundation, which works to help other patients struggling with Lou Gherig's Disease.
History tells us that Steve Gleason will lose his battle with ALS, as many have done before him. But maybe, just maybe, his efforts can pave the way toward a cure in the future. To read more about Gleason Gras and Team Gleason, head on over to WWLTV.
Ghana for the World Cup! (and Divine Chocolate)
Jul 2nd
We're big Divine Chocolate fans over here at SSE, and Sophi Tranchell came to speak to some of the social entrepreneurs we support a few months back, which was hugely well-received. Today, Divine are putting this ad in the Metro...
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