Making bank

We ran across an article in the San Francisco Chronicle that cited a wonderful little piece of investigative journalism by The Sports Business Journal. Did you know, dear readers, that twenty-three of the college bowls are ostensibly non-profit foundations? Nonprofit organizations like those that operate the bowls are not allowed under the federal tax code to give excessive salaries or perks could be seen as using charitable funds to enrich private individuals.

Yet The Sports Business Journal found that:

the Outback Bowl paid Jim McVay $808,032
the Sugar Bowl paid Paul Hoolahan $645,386
the Sugar Bowl also paid Jeff Hundley $398,023
the Chick-fil-A Bowl paid Gary Stokan $504,444
the Chick-fil-A Bowl also paid David Epps $210,013
the Cotton Bowl paid Rick Baker $419,873
the Alamo Bowl paid Derrick Fox $419,045
the Fiesta Bowl paid John Junker $415,118
the Kraft Fight Hunger Bowl paid Gary Cavalli $377,475
the Orange Bowl paid Eric Poms $357,722

These bowls are all ostensibly non-profit organizations!

And the Obama administration just agreed to extend all these guys tax breaks.

The societal train has jumped the tracks.