Texas A&M shuts down nonprofit collective after IRS memo

Texas A&M has shut down the controversial 12 Man+ Fund after reviewing directives from the IRS. The fund, which attempted to bring name, image and likeness (NIL) collective efforts in-house, put the 501(c)(3) status of the 12th Man Foundation at risk.

The decision to shut down the NIL fund came after the IRS released a memo on June 9, which told NIL collectives their function doesn't fit within the confines of tax-exempt status. The 12th Man+ Fund attempted to reward donors with athletic department points and tax benefits in exchange for donations to provide NIL compensation to athletes.


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