Charitable Foundation Provides Nick Saban With Free Housing
Posted: Mon Oct 27, 2014 6:19 pm
http://www.al.com/news/birmingham/index ... ought.html
Providing scholarships and support for Athletic programs is one thing, but how is it within a charitable purpose for a nonprofit to provide free housing for a football coach and how is this not private inurement? The most recent 990 for the Crimson Tide Foundation on Guidestar is from 2005 but their website states they are a 501(c)(3) and donations to them are tax deductible. I have to think that Saban is also pretty instrumental in securing fundraising for the Foundation which may qualify him as an "insider" for private inurement purposes even if he has no direct control over the foundation.
Providing scholarships and support for Athletic programs is one thing, but how is it within a charitable purpose for a nonprofit to provide free housing for a football coach and how is this not private inurement? The most recent 990 for the Crimson Tide Foundation on Guidestar is from 2005 but their website states they are a 501(c)(3) and donations to them are tax deductible. I have to think that Saban is also pretty instrumental in securing fundraising for the Foundation which may qualify him as an "insider" for private inurement purposes even if he has no direct control over the foundation.