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IRS vs. Nonprofit NIL Collectives
Manage episode 366079237 series 2981282
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The IRS is cracking down on NIL collectives and suggested in a recent memo that nonprofit NIL collectives could be breaking the law. This week we break down this IRS memo and talk about the implications for NIL collectives.
In our News and Facts segment, we discuss the group licensing deal with EA Sports, the proposed amendment to New York’s NIL law, the formation of the Blue A Collective, the merger to form the Happy Valley NIL Collective, the launch of the Lone Star Collective, and the never-ending saga of NIL for high school athletes in North Carolina.
We discuss our favorite nillies, including J.T. Tuimoloau’s youth camp and Armando Bacot’s deal with Frosted Flakes.
To learn more about our Nillie platform, visit nillie.io or email contact@victreefi.com. To learn more about our Framework platform, visit victreefi.com.
Quote
“So the opinion of the memo is that NIL collectives will benefit private interests will be more than incidental.”(23:10-23:20 | Wheeler)
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