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Topic: The Ghost Of Harbaugh Has Arrived in Happy Valley (SOC 11/11/23)

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utee94

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Re: The Ghost Of Harbaugh Has Arrived in Happy Valley (SOC 11/11/23)
« Reply #308 on: November 13, 2023, 09:00:34 AM »
Right.  If you get tickets in exchange, then it's no longer tax deductible.  You're free to make direct contributions to university athletic programs any time you like and receive tax benefits, just as you have always been-- as long as you're not receiving tickets as part of the exchange.

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FearlessF

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Re: The Ghost Of Harbaugh Has Arrived in Happy Valley (SOC 11/11/23)
« Reply #309 on: November 13, 2023, 09:07:03 AM »
hah, if you're an oil baron donating 10 million to pay off Jimbo's contract, you might have the means or other options to get tickets

so, skybox suites aren't tax deductible? oh well
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Cincydawg

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Re: The Ghost Of Harbaugh Has Arrived in Happy Valley (SOC 11/11/23)
« Reply #310 on: November 13, 2023, 09:14:32 AM »
If they are a 503(c), it's deductable, unless you receive benefits.  I wouldn't think paying off a coach would be deductable.

But money is fungible, maybe you donate to a scholarship fund somewhere.
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utee94

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Re: The Ghost Of Harbaugh Has Arrived in Happy Valley (SOC 11/11/23)
« Reply #311 on: November 13, 2023, 09:18:34 AM »
Quote from: FearlessF on November 13, 2023, 09:07:03 AM
hah, if you're an oil baron donating 10 million to pay off Jimbo's contract, you might have the means or other options to get tickets

so, skybox suites aren't tax deductible? oh well
They used to be.  They no longer are.

Quote from: Cincydawg on November 13, 2023, 09:14:32 AM
If they are a 503(c), it's deductable, unless you receive benefits.  I wouldn't think paying off a coach would be deductable.

But money is fungible, maybe you donate to a scholarship fund somewhere.
Right, so receiving tickets, or even receiving priority placement for selection of tickets, is no longer deductible.

I suppose paying $77M to a departing coach might be deductible if the entity is 501C3.  There's no direct tangible benefit being offered in exchange, as far as I can tell.  Just the satisfaction of wasting tens of millions of dollars to get yourself out of a terrible deal and move on to the next guy?
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FearlessF

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Re: The Ghost Of Harbaugh Has Arrived in Happy Valley (SOC 11/11/23)
« Reply #312 on: November 13, 2023, 09:19:51 AM »
maybe?

I'd be shocked if the $75 mill to pay off Jimbo didn't skate taxes
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847badgerfan

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Re: The Ghost Of Harbaugh Has Arrived in Happy Valley (SOC 11/11/23)
« Reply #313 on: November 13, 2023, 09:22:10 AM »
"All" you do is make an unrestricted $77 Million donation to the university's general fund.

Tax deductible.
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ELA

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Re: The Ghost Of Harbaugh Has Arrived in Happy Valley (SOC 11/11/23)
« Reply #314 on: November 13, 2023, 09:37:41 AM »
$19 million up front is coming from the donor fund.  The remaining $7.2 annually is coming from the athletics budget
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Cincydawg

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Re: The Ghost Of Harbaugh Has Arrived in Happy Valley (SOC 11/11/23)
« Reply #315 on: November 13, 2023, 09:42:22 AM »
I'd guess most coaches have their salaries "prefunded" anyway.  
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utee94

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Re: The Ghost Of Harbaugh Has Arrived in Happy Valley (SOC 11/11/23)
« Reply #316 on: November 13, 2023, 09:46:29 AM »
Quote from: ELA on November 13, 2023, 09:37:41 AM
$19 million up front is coming from the donor fund.  The remaining $7.2 annually is coming from the athletics budget

Don't forget the buyout of assistant coaches (OC and DC were just extended), the hiring of the new coach, and the hiring of new assistant coaches.

The immediate outlay is a conservative $30M-$40M, and it could reach $50M, that must be executed ASAP.
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847badgerfan

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Re: The Ghost Of Harbaugh Has Arrived in Happy Valley (SOC 11/11/23)
« Reply #317 on: November 13, 2023, 09:50:08 AM »
Quote from: ELA on November 13, 2023, 09:37:41 AM
$19 million up front is coming from the donor fund.  The remaining $7.2 annually is coming from the athletics budget
That's a lot of crab legs.


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FearlessF

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Re: The Ghost Of Harbaugh Has Arrived in Happy Valley (SOC 11/11/23)
« Reply #318 on: November 13, 2023, 09:51:20 AM »
I suppose the "new" head coach could keep one of the coordinators on staff for a year or two
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utee94

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Re: The Ghost Of Harbaugh Has Arrived in Happy Valley (SOC 11/11/23)
« Reply #319 on: November 13, 2023, 10:03:13 AM »
Quote from: FearlessF on November 13, 2023, 09:51:20 AM
I suppose the "new" head coach could keep one of the coordinators on staff for a year or two
I suppose that's a thing that is theoretically possible.  Does this ever happen in reality?
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ELA

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Re: The Ghost Of Harbaugh Has Arrived in Happy Valley (SOC 11/11/23)
« Reply #320 on: November 13, 2023, 10:19:51 AM »
Quote from: utee94 on November 13, 2023, 10:03:13 AM
I suppose that's a thing that is theoretically possible.  Does this ever happen in reality?
Moreso with position coaches.  I think most MSU fans want the new coach to retain Courtney Hawkins as WR coach.  They've been solid, but he's been probably the best recruiter on staff.  He's an MSU alum.
« Last Edit: November 13, 2023, 10:39:43 AM by ELA »
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FearlessF

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Re: The Ghost Of Harbaugh Has Arrived in Happy Valley (SOC 11/11/23)
« Reply #321 on: November 13, 2023, 10:45:53 AM »
O-coordinator was retained when Pelini was hired

of course Bo had no previous head coach experience and the AD Osborne thought the offense was good enough

I think it was Shawn Watson
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