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SEC throws down gauntlet in football to NCAA
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<blockquote data-quote="GTNavyNuke" data-source="post: 52650" data-attributes="member: 322"><p>The NCAA is not for profit from the IRS tax status point of view in the way they account for revenues and expenses.</p><p></p><p>For NCAA key employees, the NCAA structure maximizes their compensation and whether they were working for a profit or non-profit is immaterial. The NCAA paid it's people over $52M in 2012. Here's the NCAA's Tax Exempt Report for 2011: <a href="http://990s.foundationcenter.org/990_pdf_archive/440/440567264/440567264_201208_990.pdf" target="_blank">http://990s.foundationcenter.org/990_pdf_archive/440/440567264/440567264_201208_990.pdf</a> check out page 423 and 424 for some of the people and compensation. Their interest and livelihood depends on maximizing their compensation. Many of these compensations are over $300K for "non-profit" work. For me, I had to recommend where to make donations for our local Kiwanis club. So I went to the 990's to see where the money went. Many non-profits do have board of directors which are not compensated or are very lightly compensated (out of pocket expenses type thing). In my mind, they are the real non-profits serving the public. <strong> The non-profit status of the NCAA is nothing more than a legal tax avoidance scheme which increases the national deficit and makes the NCAA employees a lot of money. </strong></p><p></p><p>LMAO at their statement; "THE NCAA'S PURPOSE IS TO GOVERN COMPETITION IN A FAIR, SAFE, EQUITABLE AND</p><p>SPORTSMANLIKE MANNER AND TO INTEGRATE INTERCOLLEGIATE ATHLETICS INTO HIGHER EDUCATION <strong>SO THAT THE</strong></p><p><strong>EDUCATIONAL EXPERIENCE OF THE STUDENT-ATHLETE IS PARAMOUNT." </strong></p></blockquote><p></p>
[QUOTE="GTNavyNuke, post: 52650, member: 322"] The NCAA is not for profit from the IRS tax status point of view in the way they account for revenues and expenses. For NCAA key employees, the NCAA structure maximizes their compensation and whether they were working for a profit or non-profit is immaterial. The NCAA paid it's people over $52M in 2012. Here's the NCAA's Tax Exempt Report for 2011: [url]http://990s.foundationcenter.org/990_pdf_archive/440/440567264/440567264_201208_990.pdf[/url] check out page 423 and 424 for some of the people and compensation. Their interest and livelihood depends on maximizing their compensation. Many of these compensations are over $300K for "non-profit" work. For me, I had to recommend where to make donations for our local Kiwanis club. So I went to the 990's to see where the money went. Many non-profits do have board of directors which are not compensated or are very lightly compensated (out of pocket expenses type thing). In my mind, they are the real non-profits serving the public. [B] The non-profit status of the NCAA is nothing more than a legal tax avoidance scheme which increases the national deficit and makes the NCAA employees a lot of money. [/B] LMAO at their statement; "THE NCAA'S PURPOSE IS TO GOVERN COMPETITION IN A FAIR, SAFE, EQUITABLE AND SPORTSMANLIKE MANNER AND TO INTEGRATE INTERCOLLEGIATE ATHLETICS INTO HIGHER EDUCATION [B]SO THAT THE EDUCATIONAL EXPERIENCE OF THE STUDENT-ATHLETE IS PARAMOUNT." [/B] [/QUOTE]
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