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Shah $5 million gift

WindyCityDeac said:
are we seriously all genuflecting and kissing the ring of Mit Shah? WTF is going on here? Go thank someone who is helping the homeless or someone who is donating to cancer research.

The virtual fellatio of a billionaire giving to a basketball program is sort of gross
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When the Wake Forest basketball team is good, the benefits are realized throughout the city. Hotels book more rooms. Restaurants seat more tables. It’s a positive thing for not just fans but for all the infrastructure that supports fans. That’s one example of being a community asset.
 
WindyCityDeac said:
are we seriously all genuflecting and kissing the ring of Mit Shah? WTF is going on here? Go thank someone who is helping the homeless or someone who is donating to cancer research.

The virtual fellatio of a billionaire giving to a basketball program is sort of gross
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I mean, yes. But also our time would be better spent off this board and focusing on environmental advocacy and civil rights. And yet, here we are. I’ll thank him for improving this part of life.
 
deacdixieboy said:
Let’s ask @RollTheQuadNIL a legit question. With the AD doing things like seat rights even more intensely, with Deacon Club still being pushed for basically no benefit to donors, what is the argument for those who don’t have Shah type funds to give their hard earned money to the AD instead of NIL? Have y’all had conversations with them about how this could be detrimental to the NIL mission?
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Great question. Both sides understand the importance of one another and communicate often.

Look at college athletics like a set of buckets. The Deacon Club has always been 1 bucket and we've always done a great job of filling it. We now have an NIL bucket and we have to find a way to fill that bucket too.
 
deacdixieboy said:
I hear you. It’s just a vital time and I have been rubbed the wrong way by the single year seat rights thing when money needs to go elsewhere. Scholarships and facilities tend to be funded by endowments and bigger donors.
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RTQ doesn't pay the coaches as far as I know.
 
RollTheQuadNIL said:
Great question. Both sides understand the importance of one another and communicate often.

Look at college athletics like a set of buckets. The Deacon Club has always been 1 bucket and we've always done a great job of filling it. We now have an NIL bucket and we have to find a way to fill that bucket too.
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One big advantage of the Deacon Club is that its tax deductible (and in-kind/stock donations that can have other nice tax benefits).

@RollTheQuadNIL it would be great if there were a lower tier business option for people who don't own a business but have a little side hustle/1099 income (which is reportedly actually pretty common) and are looking for small things that could technically be called an advertising expense (i think it could be as simple as having a list of sponsors on the NIL website). that would actually make the NIL fund even more tax advantaged than a charitable donation.
 
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RollTheQuadNIL said:
Thank you, Mit Shah!

Mit's commitment has many branches to it. Some will be facility / program focuses, but a significant portion is NIL related. That said, we have to continue to build a base that makes us sustainable over time. Every contribution matters. Mit has stepped up and we need the rest of Deacon nation to continue to follow his lead.
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RTQ - Is the portion that is for NIL considered a charitable contribution for tax purposes? My understanding is that a lot of these NIL organizations are not nonprofits. I could be wrong though.
 
WindyCityDeac said:
i dunno man..this idea that we as fans owe Mit Shah thanks is gross. He does wtf he wants with his money.... fans don't owe Mit Shah anything.
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WindyCityDeac said:
are we seriously all genuflecting and kissing the ring of Mit Shah? WTF is going on here? Go thank someone who is helping the homeless or someone who is donating to cancer research.

The virtual fellatio of a billionaire giving to a basketball program is sort of gross
Click to expand...
This is giving off huge "and yet you participate in society" meme vibes.
 
RTQ donation for "advertising" of a business would be a different write off than charitable donation. It would be a business expense write off. I also have a side hustle with 1099 income and if there were option to donate for "advertising" or something, this would allow me to increase my donation.
 
DeacKillsaDevil said:
RTQ - Is the portion that is for NIL considered a charitable contribution for tax purposes? My understanding is that a lot of these NIL organizations are not nonprofits. I could be wrong though.
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My understanding is that they are non profits, but not 501(c)3 charitable orgs, so donations are not tax deductible. I think I read that there are a lot of collectives/donors being hit with tax penalties for deducting NIL collective funds (but some may be ok? - maybe it was somewhere embedded in Renault's investigative reporting)

but, #DontAskIaTAboutTaxes
 
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