“Name Image Likeness (NIL) collectives are structurally independent of a school, yet fund NIL opportunities for the school’s student-athletes. They are typically founded by well-known alumni and supporters of the school. Collectives generate and pool revenue raised through contributions from a wide variety of sources, including boosters, businesses, fans, and more. They use these funds to create opportunities for student-athletes to leverage their NIL in exchange for compensation.”
https://www.taxpayeradvocate.irs.gov/get-help/general/nil/nil-collectives/
Published: March 7, 2023 | Last Updated: April 10, 2023
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