Join us for this week’s Sports Philanthropy Podcast as former NFL Kicker Matt Stover joins our host Roy Kessel of the Sports Philanthropy Network.
Matt is the founder of the Players Philanthropy Fund and shares his insight into the challenges of properly setting up a foundation and the compliance process for a new foundation.
Players Philanthropy Fund – PPF is a 501(c)(3) public charity that enables athletes, entertainers and other philanthropists to create a dedicated fund that can accept tax-deductible contributions in support of any qualified charitable mission. PPF’s primary service for establishing a charitable fund is Fiscal Sponsorship, which most of the PPF client roster utilizes in facilitating their charitable efforts.
The PPF platform offers a simple, efficient and cost-effective solution for collecting and distributing charitable assets, which provides a desirable alternative to the complexity, hassle and burden of operating an independent foundation. PPF helps ensure full compliance with legal requirements and nonprofit best practices to protect against any unnecessary risk to your valuable reputation.
HIGHLIGHTS OF MATT STOVER’S PODCAST
- 00:30 Matt’s background and how he broke into sports philanthropy
- 01:30 Lightbulb about use of Donor Advised Funds
- 02:45 Size of PPF with about 115 clients
- 04:02 Definition of Donor Advised Funds
- 04:35 Concept of Fiscal Sponsor and process for working with PPF
- 06:50 How SunTrust bank partnership helps PPF and its clients
- 08:30 Purposes of Private Operating Foundations
- 10:20 Controls for the organizations: Best practices, oversight, training
- 14:50 Causes with opposition
- 16:30 Learning from mistakes and high ethical requirements
- 17:20 More dollars for charitable causes
- 18:00 Services managed by PPF (and there are MANY!)
- 23:00 Standard fee structures for admin and back office services
- 28:00 Post-playing career and perspective on foundation
- 36:00 Stover Family Foundation foucs
- 40:00 When Matt takes over the NFL as Commissioner
Matt does a great job and provides a very valuable service for his clients. As you heard in our podcast, PPF provides an enormous number of services that help organizations grow. As a result, due to relieving these administrative burdens, the organizations can focus more of their time, effort and dollars on impacting their communities. For more information about Players Philanthropy Fund, take a look at their website at https://www.ppf.org/