BrooklynBull Posted April 7 Share Posted April 7 Apparently, setting up a NIL group as a 501(c)(3) to allow donations to it to not be tax deductible is now the IRS' position and that the earlier approvals were in error. https://www.sportico.com/leagues/college-sports/2024/irs-letter-nil-collectives-tax-exempt-status-1234774152/ Here is a recent letter from the IRS denying 501(c)(3) status to a group. https://drive.google.com/file/d/1xuA1L2pmZJQ04Ipr0D0LfpX_w64Yrsg4/view?pli=1 Quote Link to comment Share on other sites More sharing options...
DaBulls99 Posted April 22 Share Posted April 22 An interesting article. East Tennessee State AD says their hoops team needs $200k annually. https://richmond.com/sports/college/schools/university-richmond/university-of-richmond-atlantic-10-conference/article_b4fcd2f0-00a3-11ef-8d09-9ba837b436cf.html?utm_medium=social&utm_source=twitter&utm_campaign=user-share Quote Link to comment Share on other sites More sharing options...
Big 4 Hoops Blogger Posted April 23 Share Posted April 23 (edited) 1 hour ago, DaBulls99 said: An interesting article. East Tennessee State AD says their hoops team needs $200k annually. https://richmond.com/sports/college/schools/university-richmond/university-of-richmond-atlantic-10-conference/article_b4fcd2f0-00a3-11ef-8d09-9ba837b436cf.html?utm_medium=social&utm_source=twitter&utm_campaign=user-share I can tell you the amount UB hopes to raise annually in NIL once it's announced and it's six figures as well. Edited April 23 by Big 4 Hoops Blogger Quote Link to comment Share on other sites More sharing options...
NC_UBfan Posted April 23 Share Posted April 23 As I understand it schools can refer players to boosters directly to NIL collectives without penalty now with reporting requirements which I don’t necessarily agree with. If the contract/agreement is between two individual parties the disclosure should be private but it is progress. https://www.cbssports.com/college-football/news/ncaa-board-approves-immediate-eligibility-for-multi-time-transfers-school-assistance-for-nil-opportunities/amp/ Quote Link to comment Share on other sites More sharing options...
BrooklynBull Posted April 24 Share Posted April 24 Expect an announcement tomorrow on NIL from UB. 6 Quote Link to comment Share on other sites More sharing options...
Big 4 Hoops Blogger Posted April 25 Share Posted April 25 (edited) 2 hours ago, BrooklynBull said: Expect an announcement tomorrow on NIL from UB. This announcement has been a long time coming. Heard they originally had issues convincing boosters that NIL was necessary but that they now understand the importance after seeing what's taken place the last few years at UB and across college basketball. Edited April 25 by Big 4 Hoops Blogger Quote Link to comment Share on other sites More sharing options...
DooleyBull06 Posted April 25 Share Posted April 25 7 minutes ago, Big 4 Hoops Blogger said: This announcement has been a long time coming. Heard they originally had issues convincing boosters that NIL was necessary but that they now understand the importance after seeing what's taken place the last few years at UB and across college basketball. I mean were they living under a rock? Also football leads the way, so hopefully it’s a commitment to NIL across all sports. Quote Link to comment Share on other sites More sharing options...
TheCommish Posted April 25 Share Posted April 25 51 minutes ago, DooleyBull06 said: I mean were they living under a rock? Also football leads the way, so hopefully it’s a commitment to NIL across all sports. they want to control the $ Quote Link to comment Share on other sites More sharing options...
DocCas86 Posted April 25 Share Posted April 25 https://ubbulls.com/news/2024/4/25/football-nickel-city-collective-launches-as-nil-collective-for-ub-student-athletes.aspx 3 Quote Link to comment Share on other sites More sharing options...
BrooklynBull Posted April 25 Share Posted April 25 The NIL is here: https://nickelcitynil.com/ 4 2 Quote Link to comment Share on other sites More sharing options...
Blue03 Posted April 25 Share Posted April 25 With the new NIL program set up, allowing for stronger recruiting, how do we evaluate our coaches now? Do they get a grace year until they can actually use the collective properly? If GH3 has another disaster year does ADMA give him another year to apply this? Quote Link to comment Share on other sites More sharing options...
trueblue32 Posted April 25 Share Posted April 25 7 minutes ago, Blue03 said: With the new NIL program set up, allowing for stronger recruiting, how do we evaluate our coaches now? Do they get a grace year until they can actually use the collective properly? If GH3 has another disaster year does ADMA give him another year to apply this? Letting Halcovage piss away the first year of money in an attempt to save his sinking ship is the worst thing that could happen for continued NIL support imo Quote Link to comment Share on other sites More sharing options...
UBinMD Posted April 25 Share Posted April 25 (edited) 15 minutes ago, trueblue32 said: Letting Halcovage piss away the first year of money in an attempt to save his sinking ship is the worst thing that could happen for continued NIL support imo I’m guessing football will get the bulk of the first moneys in the pot. GH3 was pushing for this day 1, it wasn’t until Lembo arrived that it gained any real traction Edited April 25 by UBinMD Quote Link to comment Share on other sites More sharing options...
BrooklynBull Posted April 25 Share Posted April 25 (edited) 3 hours ago, BrooklynBull said: The NIL is here: https://nickelcitynil.com/ I am in at the Nickel City Hall of Fame level. Are you, at any level? Edited April 25 by BrooklynBull Quote Link to comment Share on other sites More sharing options...
NC_UBfan Posted April 25 Share Posted April 25 2 minutes ago, BrooklynBull said: I am in at the Nickle City Hall of Fame level. Are you, at any level? 716 MVP, I did email for more information about the Donated Securities and Donor Advised Funds options. 1 Quote Link to comment Share on other sites More sharing options...
MaineBull Posted April 25 Share Posted April 25 This is a huge step for UB! A little delayed but NIL collective is essential for success in the current NCAA landscape. I am happy the university and admin made this happen and as an alumni I remain thankful to all who will participate and help put this together. Quote Link to comment Share on other sites More sharing options...
Big 4 Hoops Blogger Posted April 25 Share Posted April 25 My crew at Trainwreck Sports is already getting involved with supporting UB athletics through NIL. 4 Quote Link to comment Share on other sites More sharing options...
promotherobot Posted April 25 Share Posted April 25 I will be signing up as well. 1 Quote Link to comment Share on other sites More sharing options...
UBinMD Posted April 25 Share Posted April 25 2 hours ago, BrooklynBull said: I am in at the Nickel City Hall of Fame level. Are you, at any level? I have joined you in the HOF! 1 Quote Link to comment Share on other sites More sharing options...
TheCommish Posted April 26 Share Posted April 26 6 hours ago, trueblue32 said: Letting Halcovage piss away the first year of money in an attempt to save his sinking ship is the worst thing that could happen for continued NIL support imo Interesting. Nickel City Collective has a partnership with the BPS Foundation, a 501c3 nonprofit, that allows supporters to earn a tax-deduction for their gift I was hoping the same partnership but I was told that wouldn't work. Nickel City Collective is an independent corporation that is not affiliated with the University at Buffalo. How much will Nickel City Collective employees be making? All volunteers? Anyone know? Quote Link to comment Share on other sites More sharing options...
UB Horns Up Posted April 26 Share Posted April 26 6 hours ago, UBinMD said: I’m guessing football will get the bulk of the first moneys in the pot. GH3 was pushing for this day 1, it wasn’t until Lembo arrived that it gained any real traction Yes because I realize younger UB alums/students are into UB Bulls basketball. But realize basketball is split 4 ways in the Buffalo market. Buffalonians see UB Bulls as a a football school first not a basketball school first no amount of money is changing that. UB Bulls football will always gain a bigger fan base. Why because less games with football that don’t require giving away a lot of free time to follow football than basketball with more games. Also back to the top Buffalo sports market is split 4 ways in basketball. Where football there is one major college football team in Buffalo in my opinion. Go Bulls! UB Horns Up! Let’s Go Buffalo Quote Link to comment Share on other sites More sharing options...
TheCommish Posted April 26 Share Posted April 26 I can’t wait for the 990. I’m counting the days down. im wondering how much of donations will go towards salaries? Bonnie’s clan will love to know their professor is helping another school’s NIL. https://www.linkedin.com/in/shaena-kershner-b72b9256 Quote Link to comment Share on other sites More sharing options...
DaBulls99 Posted Friday at 10:49 AM Share Posted Friday at 10:49 AM 14 hours ago, trueblue32 said: Letting Halcovage piss away the first year of money in an attempt to save his sinking ship is the worst thing that could happen for continued NIL support imo Message boards are great. This guys reality is based on complete speculation he has zero idea about. The collective is less than 24 hrs old and yet he’s down on it big time. Quote Link to comment Share on other sites More sharing options...
BrooklynBull Posted Friday at 11:20 AM Share Posted Friday at 11:20 AM 6 hours ago, TheCommish said: I can’t wait for the 990. I’m counting the days down. im wondering how much of donations will go towards salaries? Bonnie’s clan will love to know their professor is helping another school’s NIL. https://www.linkedin.com/in/shaena-kershner-b72b9256 You mean helping her alma mater? Quote Link to comment Share on other sites More sharing options...
trueblue32 Posted Friday at 11:36 AM Share Posted Friday at 11:36 AM (edited) 54 minutes ago, DaBulls99 said: Message boards are great. This guys reality is based on complete speculation he has zero idea about. The collective is less than 24 hrs old and yet he’s down on it big time. I’m not down on the collective, I’m down on the decision makers running the athletic department. This is just another avenue for Alnutt and co. to light UB supporters money on fire. Last year I paid $275 per season ticket per home win and I’m supposed to be fired up about a monthly subscription to increase that? If the collective opens an avenue to support for the next coach that comes in I’d sign up. The 13 scholarships are filled and none of them had other D1 scholarship offers, much less NIL offers. Donating money this year (for MBB) is going towards a bidding war that no other D1 schools are participating in Edited Friday at 11:44 AM by trueblue32 1 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.