FundSvcs Community

Our entrepreneurial institute is having a "Shark Tank" like competition for some of the students. An local entrepreneurial association wants to donate funds to be awarded, and also participate on the judges panel. We feel that this is not appropriate, and would be considered a non-charitable donation since they would be picking the winners. 

Any thoughts on this?  The information below was relayed to us from the head of this department at the university. 

"Participants or their organization will be giving a donation to the EI without any strings attached. They will participate as judges in our shark tank experience where they will decide whether students get one of three amounts of money ($250, $500, or $750). The amount they distribute as judges is not the same as the amount they donate (The non-profit Entrepreneur Association donated 15k, but some of their members will likely distribute over $20k. Others will donate much more than they ever help judge). Again, their donations are just going to the EI, and we are using them as judges in an activity that isn't necessarily directly tied to their donation. Many of the judges in this event won't have donated anything. No equity or benefit will go to those donating, they are merely acting as judges, like they do for ZinnStarter. As a related question, we will soon organize a Founder's group who will donate to the EI as part of their participation. These people will also be used as mentors and judges for our competitions. I assume along the same vein; they aren't going to be disqualified in judging our competitions by virtue of having donated?"

Help! 

Our entrepreneurial institute is having a "Shark Tank" like competition for some of the students. An local entrepreneurial association wants to donate funds to be awarded, and also participate on the judges panel. We feel that this is not appropriate, and would be considered a non-charitable donation since they would be picking the winners. 

Any thoughts on this?  The information below was relayed to us from the head of this department at the university. 

"Participants or their organization will be giving a donation to the EI without any strings attached. They will participate as judges in our shark tank experience where they will decide whether students get one of three amounts of money ($250, $500, or $750). The amount they distribute as judges is not the same as the amount they donate (The non-profit Entrepreneur Association donated 15k, but some of their members will likely distribute over $20k. Others will donate much more than they ever help judge). Again, their donations are just going to the EI, and we are using them as judges in an activity that isn't necessarily directly tied to their donation. Many of the judges in this event won't have donated anything. No equity or benefit will go to those donating, they are merely acting as judges, like they do for ZinnStarter. As a related question, we will soon organize a Founder's group who will donate to the EI as part of their participation. These people will also be used as mentors and judges for our competitions. I assume along the same vein; they aren't going to be disqualified in judging our competitions by virtue of having donated?"

Help!