[BostonCard]

You might have missed this news but for all the donation is now tax deductible

Has the IRS issued an updated guidance?  Their memorandum from 2003 stated that collectives did not qualify as 501©(3)'s and therefore donations to them were not tax deductible.

https://www.irs.gov/pub/lanoa/am-2023-004-508v.pdf

Here's the TL;DR

CONCLUSION
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.

I would consult your own tax expert.

BC

[BostonCard]

You might have missed this news but for all the donation is now tax deductible

Has the IRS issued an updated guidance?  Their memorandum from 2003 stated that collectives did not qualify as 501©(3)'s and therefore donations to them were not tax deductible.

https://www.irs.gov/pub/lanoa/am-2023-004-508v.pdf

Here's the TL;DR

CONCLUSION
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.

I would consult your own tax expert.

BC