Using the Whole Whale - A Nonprofit Podcast
Business:Non-Profit
Concerns have been raised regarding the future of the nonprofit PGA Tour following its proposed merger with for-profit LIV Golf, supported by Saudi Arabia’s Public Investment Fund, as reported by The Nonprofit Times and The Washington Post. Despite its intentions to maintain its nonprofit status, this proposed merger has led to an inquiry from the U.S. Senate into potential indirect benefits for a foreign government from U.S. tax provisions designed for nonprofits. H.R. 3908, or the No Corporate Tax Exemption for Professional Sports Act, was introduced by Rep. John Garamendi (D-California) to exclude such organizations from tax-exempt status in the future, as reported by The Nonprofit Times. The PGA Tour, a 501(c)(6) organization, primarily serves its member's benefits, generating a revenue of $1.6 billion in 2021 against liabilities of $3.3 billion, with a notable share going toward player payouts and charity. The proposed merger aims to "unify the game of golf" globally by creating a new commercial entity encompassing the golf-related businesses of both the PGA Tour and the PIF, including LIV. However, the precise impact on the nonprofit's operations remains uncertain, particularly given the substantial investment promised by the PIF, even though the PGA Tour is set to appoint the majority of the new entity's board, with its current commissioner, Jay Monahan, expected to become the CEO. Overarching concerns about the merger raise serious questions about the susceptibility of American and other international sports leagues to sport-swashing efforts by countries with poor human rights records.
Summary
234: Volunteering through the Pandemic with Golden
233:(news) $1B Meme Coin Donations & Nonprofit job report
232:(news) Gates Foundation Divorce & Vaccine Awareness work
231: Your Voice Matters: Author Interview
230:(news) Redistricting Battles & Thinning Girl Scout Cookie sales
229: What I learned in 5 Years at Whole Whale: Meredith Esquivel
228:(news) SCOTUS Deciding on Donor Privacy & Marijuana Funding for Nonprofits
227:(news) Homeless Hotels & Nonprofit Jobs Rise
226: The Social Policy of Homelessness
225:(news) Fraud to the left, Fraud to the right
224: How to 10x $ to Build Inclusive Affordable Housing
223:(news) Capitol Riot Fundraising & Good Econ Signals For NGOs
222:(news) Restrictive Voting, #StopAsianHate, & DAFS
221: Making sense of Facebook Tracking vs IOS 14
220: How Issue Voter is shifting the focus
219: (news) NYC and ICE need to spend millions for nonprofit support
218: (news) $1B Stimulus for AmeriCorps + Rise in Giving Trend
217: Managing Cash Flow Through Crisis - GrowthForce
216:(news) $61k for a tent and what $1.9T stimulus means for nonprofits
215:(news) Are billionaire gifts really gifts, and how nonprofits may be the future of news.
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