Jerry on Msgr. Joseph Reilly

[Halldan1]

 

[HALL85]

So they have even trying to interview Reilly for close to a year (since he was named last April) and the university has denied all requests. Insane.

 

[jack 1970]

How is the University President going to focus on rebuilding the Men's Basketball Program while dealing with this?What a mess.

 

[SOBO1]

Even if Monsignor Reilly is a 100% in the clear, at a certain point you would think he would just step aside. Politico is out for blood and they are not letting this go.

Even if this report comes back with nothing of substance this dark cloud will hover over him.

 

[Fatpirate21]

This guy needs to go. I can already see Seton Hall dropping farther and farther in those rankings. This is a horrible look, avoiding reporters before the news even came out? Reeks of guilt.

 

[SPK145]

How is the University President going to focus on rebuilding the Men's Basketball Program while dealing with this?What a mess.

That should be his or any president's main focus???

 

[Piratz]

What a disaster. I prefer the Nyre vs. Marino battle royale better than this. Disgusting.

 

[jack 1970]

That should be his or any president's main focus???

Didn't say that but it is certainly one of his main focuses.

 

[HALL85]

On another note, there are numerous posts referencing Kurtz and being our whale. Ever wonder why he wants no part in this? I have no source to say it’s related, but I wouldn’t if I were him.

 

[Seton75]

With onward and PB merging to some extent, does that effect the tax status of donations I wonder. Doubt it.

If I was worth billions, I think I would have some money for many thinga critical to SHU's success.

 

[Section112]

With onward and PB merging to some extent, does that effect the tax status of donations I wonder. Doubt it.

If I was worth billions, I think I would have some money for many thinga critical to SHU's success.

The charitable entity status is an interesting question. From what I understand, the prior Collectives that gained 501c3 status will most likely remain allowing charitable contributions to those collectives for now and deductions for the donors. For newly formed collectives, charitable status is not happening.

Funding players NIL should never be tax deductible as charitable giving. It's ridiculous frankly and the players have to report it as income. This will change in the future IMO, but for now it seems some older existing collectives can still receive charitable donations.

I'd like to hear Mike Walsh's take on this if what I am saying is accurate.

 

[hallwins]

The charitable entity status is an interesting question. From what I understand, the prior Collectives that gained 501c3 status will most likely remain allowing charitable contributions to those collectives for now and deductions for the donors. For newly formed collectives, charitable status is not happening.

Funding players NIL should never be tax deductible as charitable giving. It's ridiculous frankly and the players have to report it as income. This will change in the future IMO, but for now it seems some older existing collectives can still receive charitable donations.

I'd like to hear Mike Walsh's take on this if what I am saying is accurate.

Mostly All donations to Pirate Blue are tax deductible. I suspect that when you donate to PB, regardless if the motivation is to pay players, it will be a tax deductible donation to benefit the University and its students.

Schools use donations that are tax deductible to fund scholarships for students.

 

[Fishjam]

What a disaster. I prefer the Nyre vs. Marino battle royale better than this. Disgusting.

All of this is making Nyre's lawyers very happy. Paints a picture of a pattern of behavior by the BOR in how they handle problems at the school. Ignore, deny, delay, then when pressure mounts hire a law firm to investigate only to do whatever they want regardless.

 

[Section112]

Mostly All donations to Pirate Blue are tax deductible. I suspect that when you donate to PB, regardless if the motivation is to pay players, it will be a tax deductible donation to benefit the University and its students.

Schools use donations that are tax deductible to fund scholarships for students.

Pirate Blue isn’t a collective. I was speaking about collectives.

 

[SHUHoopsFan]

The charitable entity status is an interesting question. From what I understand, the prior Collectives that gained 501c3 status will most likely remain allowing charitable contributions to those collectives for now and deductions for the donors. For newly formed collectives, charitable status is not happening.

Funding players NIL should never be tax deductible as charitable giving. It's ridiculous frankly and the players have to report it as income. This will change in the future IMO, but for now it seems some older existing collectives can still receive charitable donations.

I'd like to hear Mike Walsh's take on this if what I am saying is accurate.

I don’t think that’s correct. The IRS isn’t going to allow a what I’ll call a fake charity to exist. Whether the entity was created in the past, present or future your purpose cannot be to pay college athletes. Everything I read on it says expectations are those organizations are going to be looked at closer.