Parent Booster USA — Athletic Booster Clubs Face Intense Scrutiny: 5 Tips to Keep Out of the Penalty Box

ORLANDO, Fla. (PRWEB) April 20, 2018

Tax-Exempt Sports Boosters Still Violating IRS Rules

Booster clubs continue to operate for the personal benefit of the parents and their student athletes rather than for IRS-permitted tax-exempt purposes, says booster club blogger, and attorney, Sandra Pfau Englund. Englund, who founded Parent Booster USA to help schools and their boosters understand the rules of nonprofit, tax-exempt fundraising, says most parents and school authorities simply don’t understand how to set-up and legally fundraise for their schools.

“It was big news four years ago when the IRS stripped a gymnastics’ booster club of its 501(c)(3) status because it used its funds only to support the people that raised the money,” says Englund. “Yet, it’s still common-place for parent-led booster clubs to require parents to ‘volunteer’, and only support the athletes and their parents that help fundraise”.

•IRS tax-exemption rules require:

  • Booster club membership must be voluntary. Booster club membership cannot be a requirement to be on any level of competition team.
  • Booster club funds must support the entire team. Funds cannot be limited to supporting only members of the booster club, or only people who help fundraise. “Credit” may not be provided based on the amount of money raised; booster club funds may not be “withdrawn by” or returned to an athlete that leaves the team.
  • Gym owners may not control the booster club. For-profit gym owners should not serve on the booster club board, vote, or otherwise control the booster club.

In a 2013 U.S. Tax Court case, (Capital Gymnastics Booster Club, Inc. v. Comm'r., T.C. Memo 2013-193), a gymnastics booster club was stripped of its 501(c)(3) status because it used the tax-free funds raised to support only the gymnasts and their parents who participated in fundraising. A quick Google search reveals many booster clubs publicly advertise that they aren’t following the rules.
Tell the story with:

  • Attorney Sandra Pfau Englund (sandrapfauenglund.com), author of, "School Fundraising: So Much More than Cookie Dough", is available to comment on the continuing problem with athletic booster clubs following IRS rules.
  • See also Sandy’s blog, "Athletic Booster Clubs Face Intense Scrutiny: 5 Tips to Keep Out of the Penalty Box". (parentbooster.org/Blog)
  • An example of a gymnastics booster club that requires parents to volunteer, and provides its earnings only to those who participate in fundraising, Colorado Springs Aerials Booster Club. See its website that each gymnast and their family must volunteer at Bingo, plus an additional 25 hours per year, and that funds raised only benefit families that actively participate. This booster club raises over $1,000,000 per year from Bingo alone.

CONTACT:

Parent Booster USA

Kathy Weideman, kathy(at)parentbooster.org, 703.304.1204

Read the full story at http://www.prweb.com/releases/2018/04/prweb15414617.htm

Puut A/S chosen as a 2018 Red Herring Top 100 Europe Winner

COPENHAGEN, Denmark (PRWEB) April 20, 2018

Red Herring Top 100 Europe enlists outstanding entrepreneurs and promising companies. It selects the award winners from approximately 1,200 privately financed companies each year in the European Region. Since 1996, Red Herring has kept tabs on these up-and-comers. Red Herring’s Top 100 list has become a mark of distinction for identifying promising new companies and entrepreneurs. Red Herring’s editors were among the first to recognize that companies such as Alibaba, Facebook, Google, SalesForce.com, Skype, SuperCell, Spotify, Twitter, and YouTube would change the way we live and work. Thousands of the most interesting and innovative companies have graced the Top 100 list over the years.

“In 2018, selecting the top achievers was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “In fact, we had the toughest time in years because so many entrepreneurs had crossed significant milestones so early in the European tech ecosystem. But after much thought, rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across Europe to the Top 100 Winners. We believe Puut A/S embodies the vision, drive and innovation that define a successful entrepreneurial venture. Puut A/S should be proud of its accomplishment, as the competition was very strong.”

Red Herring’s editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technological innovation, management quality, overall business strategy and market penetration. This assessment was complemented by a review of the track records and standings of similar startups in the same verticals, allowing Red Herring to see past the “hype” and make the list a valuable instrument of discovery and advocacy for the most promising new business models in Europe.

Following Puut A/S’ well-deserved win, they are then invited to showcase their company to the US market at the Top 100 North America event in June and later compete internationally for the Top 100 Global in November. Red Herring is dedicated to following Puut A/S’ path to further success and innovation.

“It's a honor to be recognized as technology innovator,” said Mark Arthur Founder and CEO of Puut A/S “This award is a validation of our vision for a cashless and paperless society embodied by Puut Wallet,” concluded Mr. Arthur.

For more information please contact:

Mark Arthur, Founder & CEO at ma(at)puutwallet.com Tel. +45 7734 0067.

About Puut A/S:

Puut A/S is a Danish FinTech company that offers mobile wallet services, social finance enablement and content sharing as a service to end-users, service providers and merchants alike. Puut A/S is seeking to bring the experience of a traditional cloud network to mobile devices, a global mobile experience to mobile phone users and an operator and bank agnostic approach to mobile wallet services.

Read the full story at http://www.prweb.com/releases/2018/04/prweb15424024.htm

Clearwater Montana Properties Recognizes Top Associates for 2017 During the Company’s Annual Revival Event

SEELEY LAKE, Mont. (PRWEB) April 19, 2018

Clearwater Montana Properties recently celebrated its 2017 achievements with the announcement of its top producers during the company's annual Revival conference. The company, which has more than 90 real estate professionals across 30 offices in Montana, Idaho, Washington, and Wyoming, honored the top ten producing agents during an awards dinner and ceremony in Helena, MT. Clearwater's agents, managers, support staff, executives, and spouses assembled in a grand room of an upscale Helena hotel as Chief Executive Officer Kevin Wetherell announced the awardees and provided words of inspiration to all present. Clearwater was founded in 1993 and has experienced steady and robust growth – eventually becoming the largest real estate brokerage in the state of Montana in terms of office locations. In 2018, Clearwater celebrated its 25th anniversary and its position as the No. 1 leader in overall sales in many of its operating markets.

"Clearwater's associates are, on average, more productive than a majority of other real estate brokerages in our markets. Consequently, we are able to achieve higher sales with fewer associates than most other firms." said CEO Kevin Wetherell, adding "This also means, however, that the top producer award is extremely competitive." The company confirmed that in past years, the difference between achieving a spot in the top 10 and failing to do so came down to a few hundred dollars. "Being ranked in the top 10 of all associates within Clearwater is an extraordinary achievement," said Chief Operating Officer Shaun Lewis. "These individuals are market leaders with a deep-rooted commitment to their clients and local communities."

The 2017 Overall Top Producer was Patrick Pacheco, a broker for Clearwater's Bigfork, MT office. Joining the company in 2009, Pacheco has consistently been a top producer for Clearwater, but 2017 marks the first time that he has broken into the top spot. Pacheco also bears the distinction of being the No. 1 agent worldwide for Sports Afield Trophy Properties, Clearwater's exclusive partner for marketing recreational property, since 2013. Pacheco credits his stellar sales record to a commitment to perfect the art of articulate and aggressive negotiation skills. "I have always thought, I have a buyer that wants to buy and I have a seller that wants to sell….there is a deal here." In addition to his extensive sales experience and tremendous knowledge of current real estate markets, Pacheco believes in developing life-long relationships with his clients. "You wouldn't want a first-year surgeon to operate on you, or a first-year attorney to represent you, so why trust an inexperienced real estate agent who is not familiar with you to help with the purchase of your next property?" Pacheco attributes his overall success to his ambition to always be the best, to his dedicated business partner, and to Clearwater for giving him the support to "do what he was born to do…..sell a Montana lifestyle, as equally perfect as his own." CEO Kevin Wetherell agreed that Pacheco's unparalleled drive is a key factor of his success, adding "Patrick will absolutely not quit until he exhausts every possible opportunity to satisfy his clients wishes. Patrick's drive is unmatched and unchallenged with a history of hundreds of transactions and with a sales portfolio value of hundreds of millions in real estate dollars." In addition to Pacheco, nine other associates received a Top Producer award:

2017 Clearwater Top Producers:

1. Patrick Pacheco – Bigfork, MT

2. Kevin Wetherell – Seeley Lake, MT

3. Deb Whitcomb – Helena, MT

4. Jeannette Carr – Noxon, MT

5. Ed Silverstein – Georgetown Lake, MT

6. Scott Kennedy – Seeley Lake, MT

7. Carol Tibbles – Polson, MT

8. Wayne Heaton – Whitefish, MT

9. Ed Churchill – Philipsburg, MT

10. Shawna Norry – Libby, MT

The company said it is proud to have some of the best real estate professionals in the industry, and that these extraordinary individuals are the foundation upon which the company's success is based. "We commend all of our Clearwater associates for their superior professionalism and commitment," said Clearwater COO Shaun Lewis. "Their dedication to providing clients with exceptional service – day in and day out – is the reason why Clearwater is among the most trusted names in real estate."

Founded in 1993, Clearwater Properties is Montana's largest real estate brokerage firm and the #1 Sports Afield Trophy Properties brokerage in the world. In 2017, Clearwater Properties was awarded the prestigious "America's Best Brokerages" award by Land Report. With a network of over 30 offices across Montana, Idaho, Washington, and Wyoming. Clearwater focuses on providing quality customer service, superior market knowledge, and giving back to the communities we serve. Visit Clearwater at CMPMontana.com or at Clearwater's Facebook page.

Read the full story at http://www.prweb.com/releases/2018/04/prweb15419842.htm