More Scrutiny in the Non-Profit Sector

Share |

The excerpt below is from a BNA Daily Tax Report (sub. req’d) article on a complaint filed against a number of BCS bowl related entities by Playoff PAC an organization advocating for a college football postseason.

The Arizona Sports Federation (known as the Fiesta Bowl), the Orange Bowl Committee, and the Sugar Bowl used charitable donations to give “excessive compensation to their executives, make undisclosed lobbying expenditures, intervene in political campaigns, and provide substantial private benefit to organizational insiders,” the complaint said. All three bowl organizations claim the Section 501(c)(3) tax exemption.

“The BCS bowls’ activities raise important concerns under federal tax laws and we anticipate that the IRS will give these issues due attention,” said Chad Pehrson, Playoff PAC co-founder, in a statement.

It would be wise for colleges and related entities to pay attention to this case given the interest that this issue, and others relating to non-profits, have garnered in the last year. Whether or not the IRS takes action, it will likely catch the attention of tax writers in Congress.

Comments (0)
Please log in to comment:
Email
Password
 

Email
Name displayed with comments:
 

Oops! Someone has already registered with this username. Please try again.

Password
Re-enter password
  Email replies to my comments
 
 
design & development: Fathom Creative, Inc. (fathomcreative.com), Matthew Stevenson, Efrat Levush, Brent Maxwell