Hi all -
We are trying to come up to speed on NIL for our university. We think that what is being proposed internally is along the lines of what Nancy Jones suggested: " Instead of doling out money as NIL payments, some athletic departments may decide to increase the amount awarded as tied to education expenses instead." What have folks figured out with their institutions on this? I know that we need to talk with our legal team, but it would be great as Diana Wilkins mentioned to start from any guidelines on recording and receipting these funds that any teams have already figured out. Thanks in advance for sharing!
Sylvia Galen, GW MBA '21, P'26 SEAS
Assist VP, Advancement Systems & Analytics | Adv. Svcs.
Development and Alumni Relations
The George Washington University
o 202-994-9373
sgalen@gwu.edu
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Sylvia Galen
The George Washington University
sgalen@gwu.edu------------------------------
Original Message:
Sent: 01-31-2025 12:36 PM
From: Nancy Vinje Jones
Subject: Name, Image, Likeness athletic contributions
There are colleges/athletic departments approaching this from a variety of ways. Receiving "NIL" money in-house as charitable may depend upon how the student athlete receives the money. Because there are other costs to attend college outside of tuition/room/board, etc., student athletes may receive funds considered benefits tied to education (this concept stems from the Alston Award which provides financial aid for academic expenses up to a certain amount). Instead of doling out money as NIL payments, some athletic departments may decide to increase the amount awarded as tied to education expenses instead. I believe those dollars can be generated via charitable contributions more so than money specifically being given for "NIL." I have heard of some university foundations creating new funds for this purpose. Still a lot of unknowns as we all try to figure this out in real time. I, too, am interested to hear how this conclusion was reached at Creighton.
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Nancy Vinje Jones
Ball State University Foundation
nvinjejones@bsu.edu
Original Message:
Sent: 01-31-2025 12:05 PM
From: Diana Wilkins
Subject: Name, Image, Likeness athletic contributions
Unfortunately, I have not seen the legal counsel's decision. I'll try to get some more information.
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Diana Wilkins
Creighton University
dianawilkins@creighton.edu
Original Message:
Sent: 01-31-2025 11:47 AM
From: John Taylor
Subject: Name, Image, Likeness athletic contributions
At present I am not aware of a way to accept these other than through a collective or business. And the IRS has thus far not found these payments pass the educational purpose test. Furthermore, the payments to the athletes are taxable income.
Can you share the ruling from Counsel and the IRS that will permit this? As of two weeks ago I had not seen anything new on this front!
John
John H. Taylor
919.816.5903 (Cell/Text)
Big Ideas - Small Keyboard
Original Message:
Sent: 1/31/2025 12:35:00 PM
From: Diana Wilkins
Subject: Name, Image, Likeness athletic contributions
Hello,
Our University is going to accept NIL funds in house soon to be deposited into revenue sharing accounts. This process has been ok'd by our legal department. My question is there any other university doing this? I'm looking for guidelines on recording and receipting these funds. I believe these are fully tax deductible without any benefits. Thanks in advance for any information you might have on this very new initiative.
Diana Wilkins
Director, Gift Services
Creighton University
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Diana Wilkins
Creighton University
dianawilkins@creighton.edu
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