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mbird30
05-26-2015, 09:03 AM
Johnathan Lloyd's mother passed away this month, and this project was started to raise funds for his sister's education.

http://www.gofundme.com/uk9h9hck

Richard Berg
05-26-2015, 06:26 PM
Who is Jonathan Lloyd? Does the NCAA allow boosters to "donate" money to family members? Has a tax lawyer reviewed this obviously fraudulent (http://www.irs.gov/Charities-&-Non-Profits/Charitable-Organizations/Inurement-Private-Benefit-Charitable-Organizations) 501(c)(3)?

Bob Green
05-26-2015, 06:30 PM
Who is Jonathan Lloyd?

Johnathan Lloyd is a rising redshirt freshman on the football team. He also plays baseball for Duke. I have no idea about the answer to your other two questions.

Devil in the Blue Dress
05-26-2015, 06:44 PM
Who is Jonathan Lloyd? Does the NCAA allow boosters to "donate" money to family members? Has a tax lawyer reviewed this obviously fraudulent (http://www.irs.gov/Charities-&-Non-Profits/Charitable-Organizations/Inurement-Private-Benefit-Charitable-Organizations) 501(c)(3)?
The questions about whether this matter has been reviewed can be answered by the Compliance Office. Todd Mesibov (919-668-5523) is the head of this department.

Richard Berg
05-26-2015, 08:51 PM
I'd be first in line to thumb my nose at the NCAA, to be honest, considering what I think of their ethics. But they are not the only scam in town. Anyone can read an obit in the local paper and set up a bank account "in honor" of the deceased. Happens all the time, sadly. I hope Michael Staryak is current on his AML training (http://www.limra.com/Solutions/Compliance/Training/U_S__Anti-Money_Laundering_%28AML%29_Training.aspx).

The 501(c) claim is a huge red flag, honestly. No real CPA (who wants to keep his license) would file a Form 990 where 100% of proceeds went to an immediate family member, educational or not.

So we're left between a rock & a hard place:
(1) no hard evidence that contributions will actually benefit the Duke Football family
(2) yet if it is legit, it raises the question of whether those benefits are "proper" according to everyone's favorite 500-page rulebook

DukieInKansas
05-27-2015, 03:16 AM
It is not listed under the name on the gofundme site when you search the IRS website for non-profits.

Devil in the Blue Dress
05-27-2015, 11:22 AM
I contacted Todd Mesibov who heads up Duke's compliance office regarding this scholarship. Following is his reply.


The Duke compliance office worked with the NCAA when the Angela Lloyd Memorial Scholarship was created. Fans, boosters, and others would ordinarily be precluded from contributing to a scholarship fund for the sibling of a current Duke student-athlete. However, the NCAA has a waiver process for extraordinary circumstances. In this case, the NCAA approved our request to allow our fans, boosters, and others to contribute to the fund. I can’t speak to any tax or other issues, but please know that all contributions to the fund are permissible and will not affect Jonathan’s eligibility. We will work with the Lloyd family to ensure that all funds are disbursed in accordance with NCAA rules.



Thank you to all for your diligence in complying with NCAA rules and for your support of Johnathan’s family and Duke. I invite anyone to contact the compliance office directly with any questions about this or any other issues. I can be reached at 919-668-5523 or tmesibov@duaa.duke.edu.



Todd Mesibov

Associate AD/Compliance

Duke University

I hope Todd's reply puts to rest any concerns about this effort to help Jonathon's family and shifts efforts from questioning authenticity to finding ways to be supportive of another member of the Duke family.

DukieInKansas
05-27-2015, 11:32 AM
I contacted Todd Mesibov who heads up Duke's compliance office regarding this scholarship. Following is his reply.



I hope Todd's reply puts to rest any concerns about this effort to help Jonathon's family and shifts efforts from questioning authenticity to finding ways to be supportive of another member of the Duke family.

Thank you for checking with him. As I just discussed with a colleague, donations are not all about the tax deductions. Donations are done for the good they will do others and not for the possible benefits for you.

Devil in the Blue Dress
05-27-2015, 11:39 AM
Thank you for checking with him. As I just discussed with a colleague, donations are not all about the tax deductions. Donations are done for the good they will do others and not for the possible benefits for you.
Jonathon's not become a household name at Duke just yet, but he's one of us. The loss is fresh, less than a month.

Regarding whether one can deduct such gifts, you are exactly right. I was reminded of that very point when filing my tax report for 2014. The money donated to help friends like Shaquille Powell's family or Jonathon Lloyd's family is not deductible, but it surely fills a need.

DukieInKansas
05-27-2015, 11:50 AM
Jonathon's not become a household name at Duke just yet, but he's one of us. The loss is fresh, less than a month.

Regarding whether one can deduct such gifts, you are exactly right. I was reminded of that very point when filing my tax report for 2014. The money donated to help friends like Shaquille Powell's family or Jonathon Lloyd's family is not deductible, but it surely fills a need.

Yes, it does. I have the envelope address and will be putting a check in the mail on the way home tonight.

bob blue devil
05-27-2015, 11:52 AM
Thank you for checking with him. As I just discussed with a colleague, donations are not all about the tax deductions. Donations are done for the good they will do others and not for the possible benefits for you.

I've been donating money to charity for years and the resulting tax deductions have made me filthy rich. Buy my book and I'll show you how too!

On a serious note, has the 501c3 question been resolved? Best of luck to Erica in her future educational efforts!!!

Neals384
05-28-2015, 01:44 PM
Just a reminder that this is a basketball forum and many of us have no clue or interest in "who's who" of other Duke sports. OPs, please include a brief explanation in your post, i.e. Johnathan Lloyd, (Duke Football Frosh). Even better, preface your thread title with the sport, i.e. "FB: Angela...".

Devil in the Blue Dress
06-04-2015, 06:15 PM
I've been donating money to charity for years and the resulting tax deductions have made me filthy rich. Buy my book and I'll show you how too!

On a serious note, has the 501c3 question been resolved? Best of luck to Erica in her future educational efforts!!!

I contacted Todd Mesibov, head of Duke's compliance office, and Kevin Lehman, Football Chief of Staff, regarding this matter. They have confirmed that a not for profit scholarship account has been set up. The person who initiated this effort was Angela Lloyd's close friend.

Following is Kevin's reply to my request:



It has taken a while for me to hear back from SunTrust regarding the status of the account as a 501c3 but they are still waiting to hear back about the status of the application. In the interim for the 501c3 approval, they have established a not for profit scholarship account.

Based on the responses I've received from Duke, this effort to help Jonathon Lloyd's sister following their mother's death recent death is above board and follows a pattern of operation typical of such efforts. Appropriate officials at Duke were consulted so that the effort is in compliance. This is a good faith effort.

I was also reminded in my own readings on this matter being a not for profit organization does not make an organization a charity.

airowe
06-05-2015, 04:31 PM
Just for reference, it's Johnathan Lloyd. And yes, the fund is legit. Duke is aware of its creation.

http://www.goduke.com/ViewArticle.dbml?DB_OEM_ID=4200&ATCLID=209577526