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Seems to raise a lot of issues
Posted on: June 13, 2019 at 13:09:58 CT
ScottsdaleTiger MU
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For example:
1. Is the entity a charity (gifts to it would be taxable deductible) or only a non-profit (gifts would not be deductible)?
2. If the charity operates the entire AD, is the athletic program an "unrelated business activity" for tax purposes and therefore any net income (computed using tax accounting rules) taxable.
3. Who provides the scholarships. If the entity is separate from the University, do the scholarships become "compensation" and subject to withholding for income, social security and medicare taxes?
4. If the entire AD is turned over to a entity, is it still a college athletic program? I.e. does it qualify to be in an "college" conference, participate in "college" championships, etc.?
5. Do the entity's employees qualify for the University's fringe benefits, i.e. retirement programs and health insurance?
6. Who is liable if a player or a fan is injured or killed. Public entities, i.e. the University, are immune from liability. Private non-profits are not?
7. Is the entity simply a "rent an employee operation" (relatively common) or is it the owner and operator of the entire program?
8. Is the University compensated for providing facilities, etc.? I.e. does the entity "lease" facilities from the University?
9. Who runs the entity, i.e. how are its employees and directors selected? If an employee engages in misconduct, what rights does the University have to discipline him or her?
10. Who's liable for bonds issued to pay for facilities improvements?
1. Is the entity a charity (gifts to it would be taxable deductible) or only a non-profit (gifts would not be deductible)?
2. If the charity operates the entire AD, is the athletic program an "unrelated business activity" for tax purposes and therefore any net income (computed using tax accounting rules) taxable.
3. Who provides the scholarships. If the entity is separate from the University, do the scholarships become "compensation" and subject to withholding for income, social security and medicare taxes?
4. If the entire AD is turned over to a entity, is it still a college athletic program? I.e. does it qualify to be in an "college" conference, participate in "college" championships, etc.?
5. Do the entity's employees qualify for the University's fringe benefits, i.e. retirement programs and health insurance?
6. Who is liable if a player or a fan is injured or killed. Public entities, i.e. the University, are immune from liability. Private non-profits are not?
7. Is the entity simply a "rent an employee operation" (relatively common) or is it the owner and operator of the entire program?
8. Is the University compensated for providing facilities, etc.? I.e. does the entity "lease" facilities from the University?
9. Who runs the entity, i.e. how are its employees and directors selected? If an employee engages in misconduct, what rights does the University have to discipline him or her?
10. Who's liable for bonds issued to pay for facilities improvements?
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Seems to raise a lot of issues - ScottsdaleTiger MU - 6/13 13:09:58
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