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  1. Maximizing the Benefits of Running a Nonprofit Organization While Minimizing Risks Is Crucial to the Athlete’s Success

    by Kanika Corley 10-24-2011 11:36 PM Philanthropy | Legal

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    Charitable giving, or the expectation of charitable giving – whether it is the giving of time or money – seems to go hand in hand with being a professional athlete. These days, it seems that if an athlete does not have a charitable organization or private foundation in his/her own name, it is likely that she/he spends time volunteering at a local children’s hospital, for example, as a result of being on a professional sports team. But why do individual athletes maintain charity organizations? Certainly it cannot simply be that athletes sign their names onto golf tournaments and athletic skills camps as a result of a directive issued by a sports agent or other career manager.

    As most would agree, although there are exceptions, people are not generally altruistic or philanthropic by nature. The most basic economic theories advise that people act in their own best self-interest in an attempt to maximize their financial standing. Well, in an effort to inject philanthropic motives into society – thereby decreasing self-interest – many governments have devised plans that effectively incentivize high-income earners to work for, create and/or manage nonprofit organizations.
     
    Nonprofit Organizations Are Public Service Businesses
    A nonprofit organization (NPO), or charity, is essentially a business set up to perform work that benefits certain underprivileged classes of people. Historically, charities were developed to meet certain needs of society and were formed to do public good – to provide aid to segments of the community that tend to fall outside of the general scope of public assistance. In the U.S., NPOs are set up and qualified by the Internal Revenue Service (IRS). In turn, the IRS gives the charity various tax benefits, including complete tax exemption, or 501(c)(3) status. Obtaining 501(c)(3) status let's all who do business with the charity know that their donations and services may also be entitled to reap the benefits of tax exemption. As a result, people who are more likely to work for and/or with a business that not only helps a segment of society in need, but in so doing, garners tax benefits.  
     
    A Legal Way to Decrease Tax Liability
    Finding oneself in a higher income bracket means learning about increased tax liability. In an effort to decrease the sting, some athletes are able to drop down into lower tax brackets by investing in charities as a method of legally decreasing tax liability. Lucky for some, U.S. federal and state tax laws have been enacted to encourage the making of charitable gifts and to facilitate the operation of charitable organizations. These laws reflect the public policy favoring charitable giving and recognize that many charities relieve the public tax rolls from the burden of financing human and community services.
     
    A donor (corporate or individual) can claim a personal federal income tax deduction for contributions made to a 501(c)(3) tax-exempt charity. In some parts of the U.S., corporations can make deductible charitable contributions of up to 10% of their annual taxable income. In other jurisdictions, individuals can deduct up to 50% of their adjusted gross income in any year for contributions made to 501(c)(3) public charities and to some types of 501(c)(3) private foundations. However, donations to most types of private foundations are limited to 30% of an individual’s adjusted gross income in each year. (To be sure, consult your trusted, licensed tax and/or financial professional for all matters dealing with tax liability.)
     
    Given the availability of a charitable donation tax deduction that presumably lessens tax liability, the question remains: Why is it that so many athletes seem to be running their own charitable organizations?
     
    Develop Real-World Business Skills
    By developing a charitable organization, athletes give themselves the opportunity to develop business acumen and experience by managing an organization from the ground up. Athlete/employers will have direct oversight over the business, which will enable the athlete to make immediate changes should the need arise within the charity.
     
    Ultimately, running the charity ensures that the athlete obtains hands-on experience by making decisions that will have an immediate impact on the organization’s bottom line, learning the importance and role of each staff member, determining who should/should not have leadership and control in the business, and assessing the financial viability of the company. Such real-world business lessons will prove invaluable experience to the athlete, who will one day transition into the business sector of society when professional sports provide no further opportunities.
     
    In addition, for those athletes who find themselves providing financial support to family members and friends, funding a NPO may give these recipients a way to earn the money to which they have become accustomed.

     

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  2. Something to Think About, Edition #3: Focus on what you save, not what you spend

    by Scott Kaminsky 10-23-2011 11:49 PM Finance | Life After Sports

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    As a Professional Athlete, if I gave you the green light to not worry about how much you spend, would you like that? If you knew that spending was not going to be an issue and you didn’t have to worry about being constantly told to watch your spending habits would that be appealing? If that sounds good to you, then I think you’ll appreciate this month’s Something to Think About.

    Professional athletes are constantly advised to watch their spending habits. I understand the reason as to why this is being said; that’s easy – too often, athletes go broke and it’s because they’ve spent far too much money. But I believe the typical approach to spending habits needs to be thought about differently and here’s the perfect opportunity for Something to Think About. 
     
    Why not focus on what you save as opposed to what you spend? Beyond that, by all means – spend! Spend 'til you’re blue in the face and you can’t spend any more! Now obviously, I’m exaggerating a bit. I’m not suggesting that you waste money; rather, spend as you would like to with the knowledge that you’ve saved enough money to last you through your lifetime.

     

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  3. Interview with a Sports Professional: Dave Babcock, Milwaukee Bucks' Director of Player Personnel

    by Cory Dobbs, Ed.D. 10-22-2011 03:01 PM Interview with a Sports Professional | Leadership

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    With the NBA lockout in full swing, many of the behind the scenes team executives have a little spare time on their hands. I caught up with Dave Babcock, Director of Player Personnel for the Milwaukee Bucks, and asked a few questions with an angle toward player leadership. 

    Cory Dobbs: Dave, assuming talent is a given, what types of intangibles do you look for when scouting college players and how do those intangibles transfer to the next level of play?
     
    Dave Babcock: Coachability, work ethic, character on the floor and off, competitiveness, ability to be a good teammate, self-discipline, unselfishness.
     
    Some NBA players can be hard to coach, so when you get a team of coachable guys you have a much better chance for success.  Obviously, if you have guys that are willing to work in season and off they will improve at a much faster rate than the more laid back individual.  Character is bigger for most teams than people think. 
     
    For example: we (Bucks) made the playoffs the year before last and brought back the same core for last season.  But with the addition of two new players with somewhat lower character, we did not make the playoffs last season.  With so much talent in the NBA, to win the extra games you need the competitive players to fight through the long season and tough travel.  The season is so long and you spend so much time with your team that it is very important to have guys that can get along!  Being self-disciplined is so important with diet, sleep management, time management, and overall life management.  Again, you have so many talented star type players in the NBA, that if you can have a group of unselfish guys, it can will you a lot of games.

     

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  4. Athlete Weekly Rundown: Donald “Cowboy” Cerrone doesn't believe in saving for retirement, undefeated boxer Edwin Rodriguez Sr. puts his family first & Diddy' son Justin Combs is making a name for himself on the football field

    by Al-Hassan Sheriff 10-22-2011 01:30 PM Athlete Weekly Rundown

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    Athlete Development

    • Although college athletes getting suspended is hardly unusual, the reason these three LSU football players were suspended is an exception. CB's Tyrann Mathieu and Tharold Simon and RB Spencer Ware suspended after failing a drug test with synthetic cannabinoids in their system. The drug is a mixture of exotic herbs and plant materials that produces a high similar to the one produced when smoking marijuana. [Sources: LSU Players Had Positive Tests]
    • It’s amazing how a minor detail in a trade (a physical) can be so vital in one’s life (and health). Fortunately for Detroit Lions RB Jerome Harrison, his failed physical to complete a trade to the Philadelphia Eagles allowed him to learn of his benign brain tumor. [Jerome Harrison’s Failed Physical Turned Up A Brain Tumor]

     

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  5. Athlete Weekly Rundown: Texas Longhorns' Nolan Brewster quits football after concussions, Sixers star Andre Iguodala interns with Bank of America & Former NFL player LaMar Campbell's commentary addresses the challenges of transitioning to retirement

    by Al-Hassan Sheriff 10-05-2011 10:07 PM Athlete Weekly Rundown

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    Athlete Development

    • It’s tough for anyone to walk away from doing what they love, but even more so for an athlete. Yet, in many cases, it’s typically the best long-term decision they can make. I tip my hat off to Texas safety Nolan Brewster for making such a prudent choice. "It was probably the toughest decision I've had to make so far in my life, but I think at the end of the day, it's the right one," Brewster added. "It's difficult because I love football and playing for Texas, but I know in my heart this is the right thing to do. I just know I can't keep playing worrying about this continuing to get worse and knowing that I'm risking my long-term quality of life."  [Texas' Nolan Brewster quits football]
    • New York Times columnist William C. Rhoden offers a piercing critique of the NFL and the Philadelphia Eagles for allowing QB Michael Vick to start and play in last Sunday’s game against the New York Giants, a week after suffering a concussion in a tough, physical game. [Weighing The Risk With Vick]
    • Eagles’ Pro-Bowl WR Desean Jackson has been involved a lengthy contract negotiation with his current team. Yet, he has made clear what his main goal this season is: to stay healthy. That way, e can prove he’s outplayed his current contract (he’s making $600,000 this season) if he’s injured. “Whether I have the ball in my hands or not, I feel like I already established myself in this league as one of the great receivers,” said Jackson. “I just gotta go out there and keep doing what I can do. Stay healthy is the biggest thing. As long as I can stay healthy, regardless of where I’m playing, I think I’ll be alright.” [Desean Jackson's First Priority: To Stay Healthy]

     

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  6. Athlete Weekly Rundown: Jason Wright passes up the NFL for business school, Logan Morrison battles losing his father to cancer & being sent down to minors & Money Mayweather's business model is a license to print money

    by Al-Hassan Sheriff 09-27-2011 12:45 AM Athlete Weekly Rundown

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    Athlete Development

    • This article is full of lessons. But to me the biggest takeaway is you have to ask yourself why you are playing the game? What is your motivation? Love of the game? Money? Fame? Jason Wright was not getting enough satisfaction from playing in the NFL. In the article Wright, who spent seven seasons in the NFL, says, "That was the thing that was on my mind, the biggest hiccup. What's the motive behind me playing longer? What is it in there that draws me? So people would know my name? For me, it was superficial. For me and my family, and our belief in God, it wasn't a good enough motivation." [Jason Wright passes up NFL contract to attend business school]
    • Getting sent down to the minors is always a tough pill for any baseball player to swallow. But given what Logan Morrison has been through after losing his father to cancer and his brother to a car accident, Logan is battling more than any 23-year-old should have to at his age to get back to playing for the Florida Marlins. I highly suggest you read this heart-wrenching Outside The Lines story by Amy K. Nelson. [Marked For Life]
       
    • Injuries are a part of sports, especially in such an extremely physical sport like football. Yet, sustaining injuries from practicing too hard is not common. An investigative committee recommended that the University of Iowa football program abandon its intense workouts that resulted in 13 student-athletes being hospitalized. Prospective athletes looking at programs, please research their workouts, practices and training. Always factor your health and safety into which school you ultimately select. [Iowa Football Players' Injuries Blamed On Brutal Workouts By Report] 
    Business
    • Far too often athletes make the news for lawsuits stemming from an altercation either they or a member of their entourage were engaged in. It’s quite rare to hear about an athlete suing others. Yet, Braylon Edwards aims to collect money he claims he lost in free agency after being falsely linked to a fight at a restaurant that he didn’t take participate in. [Braylon Edwards Sues Restaurant  After Altercation]

     

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  7. Poetry in Motion: A Story of Hardship and Hope in Crow Country, Montana

    by Matthew Allinson 09-26-2011 02:29 PM Philanthropy

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    This is a guest article written by David Dean, Founder & Director of Unity Hoops Basketball.
     
    On the Crow Indian Reservation just south of Billings, Montana a way of life exists that flows with the sun and seasons, one not contingent on the constant tick of the stress-filled clock so characteristic of western society. What remains most deeply etched into my mind about my experience there is not the expansive sky or the beauty of the natural world, but rather the continuing hardship of a people whose struggle has been neglected and hidden through history. 
     
    I remember the solemn faces of children searching for ways to express their feelings about the substance abuse that had taken the lives of their parents. I think back to a man telling the story of his false hope for greater federal aid following the election of President Obama. 
     
    I recall two girls seven and thirteen, who, at different times, spoke to me without emotion, saying, “My mom died from drugs,” like it happened all the time. I cannot forget the shame so apparent in young teenagers after admitting that time and time again they went to bed hungry.
     
    And the ten-year-old who broke down, and wept about her home life, sobbing, “My dad just drinks and drinks. We can’t live with him. I’m scared he’ll hurt me when he gets mad again. He already did that to my mom. She took me to Pryor where we stayed in a tent last night—I was so cold… Tonight, I don’t know where she is—I can’t find her anywhere.” The girl then began to beg for a place to stay.
     
    I often recollect the worn but penetrating stare of a spiritual and community leader who spoke to me slowly and with a lucid tone about the racism, second-rate educational systems, and lack of representation from both federal and reservation governments that act as barriers keeping Native youth from their potential, saying, “Our children are so behind. And they are our future. We all must help them to catch up.”
     
    Or the wrinkled, scarred face of a high school basketball coach standing with his wife and daughter. He stared at his feet and softly murmured, “We lost everything we had in the flood.” His words were interrupted by the bounce of a rubber ball on concrete, that somehow, if only for a moment, made things better.
     
    I remember the look of helplessness and anger in the eyes of a young boy as he began to tear up, putting his hands over his face and whispering, “The men in my family are wicked.” Later I witnessed the same child dribbling through defenders with speed—running on the wind—finding peace of mind in the game that had almost become a part of culture itself—a game described to me by a Crow elder as “poetry in motion.”

     

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  8. Interview with New Edge Performance

    by Michelle Hill 09-21-2011 10:52 PM Athlete Services | Sports Psychology

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    New Edge Performance is a dedicated group of professionals committed to helping athletes maximize their performance. According to their website, “our vision for athletes is assisting them to be the best they can be by evaluating the key emotional intelligence performance indicators, highlighting the athlete’s strengths and limits and providing education on how to strengthen the competencies.”

    New Edge Performance also works with coaches by giving them access to a world-class tool, the Emotional Intelligence Sports Inventory (ESi) to assess and develop the key performance indicators in athletes. Their educated and highly skilled team works together to empower individuals and teams to move beyond their comfort zone and achieve their greatest potential. We had a chance to chat with John Haime, the President of New Edge Performance Inc.

    Michelle Hill: How do you help your potential clientele realize how much they can benefit from your services?
     
    John Haime:  Athletes generally understand the importance of the mental/emotional game in sports—but they are often unaware of where to get help to improve their game and how to go about it.
     
    We simplify the process by having an online tool that athletes can take in 25 minutes—giving them a nice picture of their mental/emotional capabilities. This starts the process for the athlete (and coach) of understanding what may be holding the athlete back—and helps them identify their strengths.
     
    We also have had some great successes with a variety of athletes—so pointing out to athletes that we have worked with athletes just like them who have achieved their dream goal, inspires the athlete to take the initiative to develop their mental/emotional game.
     
    Michelle: What type of mental obstacles do you encounter when your clients approach you for your service?
     
    John:  It really varies from athlete to athlete. All athlete challenges are often rooted in several key areas. One is a lack of confidence created by a variety of factors from parental influences to poor coaching to lack of goal setting. Many challenges are rooted in a lack of self-awareness—an athlete not truly understanding their strengths, limitations, trigger points, fears, control factors and other important areas they must understand about themselves. We help that athlete understand themselves so that under pressure they clearly understand what they can and can’t do—and can maximize their talents. 

     

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  9. Athlete Weekly Rundown: Novak Djokovic uses CVAC pods to boost performance, Ray Williams & Chris McAllister are broke & Pittsburgh's Nasir Robinson bounces back

    by Al-Hassan Sheriff 09-18-2011 11:21 PM Athlete Weekly Rundown

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    Athlete Development

    • Here’s an interesting article on Chicago White Sox pitcher Jake Peavy, who discussed his decision to not pitch the rest of this season in order to fully rehab from multiple injuries. This quote really stood out to me: “You find out what you’ve got maybe in a couple of these younger kids and I can start the rest to recovery and start what I look forward to being a good winter of work, just coming back next year and being hopefully a brand new man.” [Peavy: Multiple Reasons for Shutdown]

     

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  10. Why Is My Trademark Limited?

    by Kanika Corley 09-14-2011 10:59 PM Image Branding | Legal | Marketing | Sports Business

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    As athletes make the transition from professional sports into the business sector, some find it helpful to rely on name recognition established in years past. It is the hope of those who represent these athletes-turned businessmen and women that the sports-related reputation carries sufficient weight in the corporate world to garner a significant amount of contract negotiating power. But even if our clients’ reputations are strong now, who’s to say they will continue to be popular enough, good enough or even pure enough to maintain the interest of the consumers who are purchasing goods and services tied to the athletes’ names? This is where the concept of “brand protection” typically enters the discussion. Take a survey of a PR firm, an intellectual property attorney, sports agents and talent managers and you are bound to hear various definitions for the term “brand protection,” and even more explanations on the best methods of achieving it.

    In recent years it seems that business professionals have increasingly encouraged clients to achieve a certain level of brand protection by obtaining a formal trademark for their names, logos and even catchphrases. If, by doing so, the hope is to stave off would-be infringers and/or increase the chances of legally stripping infringers of profits generated from the unauthorized use of a protected mark, obtaining a trademark may or may not be the best vehicle to achieve these goals.
     
    A person can trademark a word, phrase, symbol or design that identifies and distinguishes the source of a good from goods associated with someone else. Although trademark holders have the exclusive right to use their registered marks, this federally recognized right may not provide the extensive level of legal protection we typically associate with “trademarks.”
     
    Intuitively, we believe people who sell goods—license plate holders, key chains, t-shirts, cups, etc.—  bearing a swoosh symbol, distinctive bunny ears, or a black prancing stallion on a yellow shield, should be sued and forced to turn over their profits if it is the case that the sellers are not actually licensed by these multinational trademark holders. It also seems reasonable to think that the unauthorized sale of cloth patches bearing the initials of a national sports league, or figurines/dolls wearing a jersey bearing a popular player’s number should also be deemed unlawful behavior. (Note that this article will not discuss alternative legal bases a person may rely on to challenge this seemingly illegal behavior, independent of trademark laws.) Surprisingly (and for mark holders, unfortunately), in many parts of the United States, our intuition with regard to the protection afforded by trademark laws is wrong.
     
    In a federal case filed in Arizona, a district judge concluded that the unauthorized sale of license plate holders and key chains branded with a popular symbol for a German auto manufacturer did not constitute infringement. The trial judge explained that consumers are less concerned about who actually manufactures these license plate holders and key chains and more concerned with the functional use of the products that happen to include an aesthetically pleasing insignia. The function of the license plate holders and key chains outweighs the use of the German brand name. As a result, there is no trademark protection because trademark laws do not provide exclusive protections for functional goods. This decision was ultimately overturned on appeal; however, weighing “function” against “aesthetic” charm continues to be a major consideration when a trademark holder sues an infringer.

     

     

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