NCAA President Defends Tax-Exempt Status
October 31, 2006
Facing questions from Congress about the legitimacy of the National Collegiate Athletic Association’s tax-exempt status, its president defended the organization’s status this week, reports The New York Times.
Myles Brand, president of the NCAA, said the group deserves tax-exempt status because only about two dozen athletics departments earn a profit, and budgets for top sports programs are growing faster than increases in university budgets, the Times reports.
Rep. Bill Thomas, Republican of California and chairman of the House Ways and Means Committee, has been leading an effort to review the organization’s status as a tax-exempt entity.
