Apparently there has to be some discount given in order to split your donation between IPTAY and NIL. That makes no sense but ok if they say so. They are rolling this out to Riggs donors first as a test run I guess. They have some formula concerning seat equity and the amount of discount offered. IPTAY gets the seat equity money and then you write another check (with the discount) to NIL. This allows you to keep your status as a Riggs donor, give to NIL and IPTAY.
As an example I think my seat equity comes out to 11.8 and I can write that check and then 12l to the collective. So what cost me 25k for Riggs will cost 23.8. I think all the discounts could be more if you don't have 14 tickets.
The concerning part is this is viewed by leadership as stop gap until July. That is a huge mistake. NIL is not going anywhere even if there is "fair market value". Who decides fair market value anyway?
Anyway that's what I know right now. I know we will all have questions and some details may be off but that's the gist of it.
As an example I think my seat equity comes out to 11.8 and I can write that check and then 12l to the collective. So what cost me 25k for Riggs will cost 23.8. I think all the discounts could be more if you don't have 14 tickets.
The concerning part is this is viewed by leadership as stop gap until July. That is a huge mistake. NIL is not going anywhere even if there is "fair market value". Who decides fair market value anyway?
Anyway that's what I know right now. I know we will all have questions and some details may be off but that's the gist of it.
