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Old 05-30-2014, 09:42 PM   #8
Spurrier_Superior_One
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Default Re: Slive Threatens with Forming Division IV

Quote:
Originally Posted by JaxcockFL View Post
They can leave, which is something that the rest of the NCAA does not want..due to loss of money from the power 4+ACC.

The lawsuits are forcing this along.
Quote:
The National Collegiate Athletic Association (“NCAA”) is an unincorporated organization that governs more than 1200 colleges, universities, athletic conferences, and sports organizations, while managing 360,000 student-athletes and eighty-eight championship events in three divisions.[4] The NCAA institutes a “principle of amateurism” in that student-athletes are amateurs and their participation should be primarily motivated by participation in their intercollegiate sport.[5] It further vows to protect student-athletes from professional and commercial enterprises,[6] and look after the best interests, education, and athletic participation of student-athletes.[7]

Because the NCAA avails itself to these principles, the Internal Revenue Code (“IRC”) recognizes it as a tax-exempt organization.[8] The NCAA and private universities rely on an exempt status under “501(c)(3), which provides exemption for charitable organizations such as religious and educational institutions.”[9] In 1976, Congress passed an amendment to this section to make perfectly clear that “national or international amateur sports competition” serve a charitable purpose under the IRC.[10] However, the statute is not without limitations.

Treasury Regulations, Internal Revenue Service (“IRS”) interpretations and judicial opinions all attempt to define situations in which charitable organizations may lose their tax-exempt status.[11] For example, the IRS takes the position that a charitable organization loses its exempt status if it confers an “excessive benefit” upon parties outside its charitable class.[12] The “charitable class” in the NCAA’s case would refer to student-athletes.[13] Furthermore, when a charitable organization bases its actions on “substantial” commercial activities, in order to keep its tax-exempt status, Treasury Regulations require the organization to be “in furtherance of” an exempt purpose.[14] In theory, it can be argued that Division I football and basketball programs are providing ‘excessive private benefit’ to television networks and professional sports leagues in relationship to the educational benefits provided to the charitable class.[15]
Universities and appearently the student athletes will be subject to taxes, so go ahead and break away and form your unions and get slapped with taxes and union fees. These geniuses will be crawling back on their stomach begging forgiveness from the NCAA. Like Dabo said not considering a college education as proper compensation devalues a college education.
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