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
250: (news) Afghanistan & Haiti - How Nonprofits are Responding
249: (news) Half of U.S. Gives & ASPCA Overhead Questions
248: From Fellow to Fulltime - Kariesha Martinez exit interview
247: (news) Bezos Blasts Off Donation & Nonprofit Trust Report
246:(news) Nonprofit Closure Trend & Steph Curry Joins NinetyToZero
245:(news) Fundraising Scrutiny & Frontline SMS Closes
244: (news)Donor Disclosure Fight & NCAA Athletes Can Earn
243: Ann Nguyen Exit Interview Podcast
242: (news) Buffett donates Billions Leaving Gates & NFL Pride History
241: The Story of freeCodeCamp - founder interview
240: (news) 5% Rise in US Giving & Juneteenth Official
239: (news) DAF legislation & Nonprofit Wins Pulitzer
238: How To Travel Ethically - Author interview
237: (news) Direct mail price hikes & OpenSecrets.org Launches
236: (news) Nonprofits in Tulsa & USAID Russian Hack
235: (news) Carbon Capture & Fighting Voter Suppression
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
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