IRS addresses whether college NIL collectives further an exempt purpose

IRS addresses whether college NIL collectives further an exempt purpose

A memo from the IRS Office of Chief Counsel advises that an organization that develops paid NIL opportunities for student-athletes will, in many cases, be operating for a substantial nonexempt purpose—serving the private interests of student-athletes—which is more than incidental to any exempt purpose furthered by the activity.
Source: Tax News
Read More here – IRS addresses whether college NIL collectives further an exempt purpose