Page 28 - Man Foundation News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Texas A&M fund shutters program that allowed donors to support athlete endorsements, citing IRS memo
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12th Man Foundation discontinuing the 12th Man+ Fund
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Texas A&M cuts NIL fund, 12th Man Plus, after IRS memo
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The foundation that supports Texas A&M athletics announced Wednesday it is closing the branch set up for donors to support endorsement deals for Aggies athletes, an effort that has pushed the boundaries of how closely a school's traditional fundraising and booster groups could get involved in payments to players. The 12th Man Foundation said it will still engage in name, image and likeness activities with Aggies athletes using “unrestricted donations.” The foundation cited a June memo from the Internal Revenue Service that said nonprofit “collectives” that were created primarily to pay players are likely not exempt from taxes, meaning donations would likely not be tax deductible.
Green Named to Mackey Award Preseason Watch List - WTAW
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