NFL NonProfit?

Horsin~AroHorsin~Aro Senior Member
edited October 2012 in Horse Racing Forum
The NFL is listed as a NonProfit Organization, anotherwords tax exempt? Are you kidding me....

Comments

  • CigarShopCigarShop Senior Member
    edited October 2012
    The NFL is a 501 (c) 6 organization. Here's how the IRS describes 501 (c) 6 tax exempt.

    Section 501(c)6 of the Internal Revenue Code provides for the exemption of business leagues, chambers of commerce,real estate boards,boards of trade and professional football leagues. Which are not organized for profit and no part of the net earnings of which inures to the benefit of any private shareholder or individual.
    This is crazy because last year the league generated 9 billion dollars in revenue.
  • jjohns7777jjohns7777 Senior Member
    edited October 2012
    Actually, they can get by with the status, because each NFL team, is, in fact, a separate, for profit, entity. The league is basically an administrative office that enforces rules decided upon by the owners of the teams. The only authority the league has relative to revenue is in signing the television contracts, and the revenue from those contracts is divided equally among the 32 teams.

    The only income the "league" has is the salaries paid to league officials by the owners.
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