NIL and KTR updates: Important new info

RUJON

Senior
Gold Member
Jun 23, 2001
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First of all, wow what a game. Sets the stage for good year if things continue to progress.

A quick note to thank KYK, Rutgers Al and others on this board for their leadership and support on this topic. The movement continues to grow and we're only just getting started.

Here are a few updates on Knights of The Raritan and NIL at Rutgers.

  • Some of us were in attendance last week at the Kickoff Celebration dinner where Schiano reiterated his TD Club message, this time to higher level donors. His main concern is his ability to retain players already in the program when the transfer portal reopens in December. This time University and Athletic Department leadership (Holloway, Hobbs, Tucker and Pikiell) were in the crowd and Tucker punctuated the thinking that NIL is now part of the "giving ecosystem." It is clear now that leadership is more aligned and my guess is you all will see more messaging around NIL and the focus to raise money to retain student athletes not only in the football program but in hoops and across the board.

  • As a result of this and other conversations, we will be pursuing a 501-C3 arm of KTR and will have more info on this soon. If you are interested in making tax deductible donations, likely with a minimum donation required, please contact me at either henry@knightsoftheraritan.com or jnewman@hodgespart.com. Some have already reached out (thanks) and we will be in contact after we finalize things, create the structure and acquire our tax ID number.

  • KTR will have a tent at the new Rutgers Boardwalk during home games to educate folks and for current members to have some fun. We will host three student athletes each week to sign autographs, take picture with fans, etc. We will be announcing our student athletes later this week so stay tuned. I will also be at the tent from 12noon - 1:00pm to personally answer questions. Please stop by and if you are a member, bring a friend so we can educate them and sign them up.

  • Finally, we have some lofty goals for football season. If you are already a member, please have a friend sign up at https://knightsoftheraritan.com/join/ and then email us with their name. You will be entered into a drawing for a free gift.

Also, if you have yet to join KTR and want to support current student athletes for as little as $10 a month, you can join here. https://knightsoftheraritan.com/join/

We're hoping to sign up 100+ new members by the end of the Wagner game.

As always happy to answer any questions.

Thanks,

Jon
 

MoreCowbellRU

Senior
Jan 29, 2012
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Not to be negative Nancy and I support the effort. But

How can you be a 501c-3 when you're raising $ to pay kids to play football? The 87K new employees of the IRS may have a couple questions. Bet the cancer society folks might have a few of their own.
 

RUJON

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Jun 23, 2001
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The money goes to the student athletes to work with other non-profits that we would partner with. There are strict annual limits on how much money they could be paid for this work.

Thats how it works
 

RUOPTIMIST

Redshirt
Oct 23, 2020
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The money goes to the student athletes to work with other non-profits that we would partner with. There are strict annual limits on how much money they could be paid for this work.

Thats how it works
Will def be reaching out soon to join the fray. Btw ty for commandeering this effort. Def want to support the program and be above board. Being freshly divorced (amicably) leaves me some extra $$$ to donate....🤣🤣🤣🤣
 

Shelby65

All Conference
Apr 1, 2008
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The money goes to the student athletes to work with other non-profits that we would partner with. There are strict annual limits on how much money they could be paid for this work.

Thats how it works
why the 501 c 3 and why do they need to do any work at all ? isnt it NIL ‘legal’ just to pay them for breathing ?
 

RUJON

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Both are allowed. Each has advantages and disadvantages but folks want the tax deductible option.
 

MoreCowbellRU

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Jan 29, 2012
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Both are allowed. Each has advantages and disadvantages but folks want the tax deductible option.
I will certainly donate to the cause but the tax deductability is spurious.
You are paying kids to play football plain and simple. Doesn't matter how you dress it up. This "philanthropy" wasn't happening before NIL. Now there's a need for 18 yr old spokespeople? I sure AF won't be writing it off. Legal or not.

I know a guy that used to sell a bolt washer at the swap meet for $4 and you got a free beer with it.
 

Eagleton96

All American
Jul 25, 2001
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I will certainly donate to the cause but the tax deductability is spurious.
You are paying kids to play football plain and simple. Doesn't matter how you dress it up. This "philanthropy" wasn't happening before NIL. Now there's a need for 18 yr old spokespeople? I sure AF won't be writing it off. Legal or not.

I know a guy that used to sell a bolt washer at the swap meet for $4 and you got a free beer with it.
It depends what they have the kids do for the money. A lot of NIL is spurious in that there is no real advertising value derived from the payments to the athletes and they don’t really have to do anything for the funds. If Knights of the Raritan is having the athletes do something that benefits nonprofit groups, that actually sounds better to me.
 

Knight Owl

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Jul 27, 2001
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It depends what they have the kids do for the money. A lot of NIL is spurious in that there is no real advertising value derived from the payments to the athletes and they don’t really have to do anything for the funds. If Knights of the Raritan is having the athletes do something that benefits nonprofit groups, that actually sounds better to me.
Might be a win-win-win situation if the players get the NIL money by doing fundraising/awareness activities for the nonprofits which in turn leads to folks contributing more to the various nonprofits. The pandemic has hit the marginalized populations very hard…especially the unhoused and/or those with food insecurity.
 
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MoreCowbellRU

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Jan 29, 2012
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Teaching kids that you get paid for working with charities is the opposite of helping to build a better society.
I showed (and keep showing) my kids by example that helping and looking out for people is good and a reward unto itself. No need for even a pat on the back. Forget about money.
These players are adding no real value for the money (besides playing) and any claims to the contrary are just not true.
 
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RUScrew85

Hall of Famer
Nov 7, 2003
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I will certainly donate to the cause but the tax deductability is spurious.
You are paying kids to play football plain and simple. Doesn't matter how you dress it up. This "philanthropy" wasn't happening before NIL. Now there's a need for 18 yr old spokespeople? I sure AF won't be writing it off. Legal or not.

I know a guy that used to sell a bolt washer at the swap meet for $4 and you got a free beer with it.

Chicken. LOL.

As an accountant friend once told me. God favors the bold. ; )
 

NickRU714

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Aug 18, 2009
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Teaching kids that you get paid for working with charities is the opposite of helping to build a better society.
I showed (and keep showing) my kids by example that helping and looking out for people is good and a reward unto itself. No need for even a pat on the back. Forget about money.
These players are adding no real value for the money (besides playing) and any claims to the contrary are just not true.

I am 100% on board with NIL but agree on the getting paid to work with a non-profit.

Had the same thought in the Clif thread on the basketball board.
Great that's he working with a non-profit. But does he really need to get paid for it?

I guess it does get more people to "volunteer" and spread awareness.
Just always seemed a grey area - for all paid "endorsements" of charities.
 

Knight Owl

Senior
Jul 27, 2001
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I am 100% on board with NIL but agree on the getting paid to work with a non-profit.

Had the same thought in the Clif thread on the basketball board.
Great that's he working with a non-profit. But does he really need to get paid for it?

I guess it does get more people to "volunteer" and spread awareness.
Just always seemed a grey area - for all paid "endorsements" of charities.
It beats paying a single individual a large sum (some non-profit CEOs make large sums) because they alone are responsible for fundraising.
 

MoreCowbellRU

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Jan 29, 2012
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Chicken. LOL.

As an accountant friend once told me. God favors the bold. ; )
Haha😂
Didn't say I was afraid of writing it off. Just stated I would not be doing it.

Is your friend also the guy that will cut you loose when things go south? He's never gonna tell the IRS it was his idea to write off the family vacation. People talk that way until the sh!t hits the fan. Then it's "I know nothing!" like Sgt. Shultz on on Hogan's Heros
 
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Knight Shift

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May 19, 2011
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Jersey Shore
It beats paying a single individual a large sum (some non-profit CEOs make large sums) because they alone are responsible for fundraising.
Exactly. Some charities, pay ridiculous salaries to their CEOs. I don't know how accurate the information is in the link below. But in some instances, it is a case of having to spend money to make money. If athletes are paid through the NIL, and this brings in more money to the charity than otherwise would go to the charity, this is a win-win. Some may say than why not give to the charity, but that seems to be a chicken or egg type of question?

 
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MoreCowbellRU

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Jan 29, 2012
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Sorry guys
But justifying giving kids who add no value money because charity CEOs steal millions doesn't pass the giggle test.
I'm with you on the fact that a charity paying millions to staff is ludicrous. All my giving is direct at point of need.
None of these "charities" gets a nickle from me.