Blank Rome Counsels on Nonprofit Formation of The TUFF Fund by Temple Alumni to Promote and Support Student Athletes
A Blank Rome team successfully provided counsel to three Temple University alumni to form The TUFF Fund, a nonprofit 501(c)(3) charitable fund intent on maximizing the Name, Image, and Likeness (“NIL”) opportunities of Temple University student-athletes utilizing community-focused initiatives and partnerships in the Greater Philadelphia area. The TUFF Fund was formally announced on August 30, 2022.
The TUFF Fund was launched with the intent of enhancing Temple University as a nationally premier atmosphere of growth for student-athletes on the playing field, in the classroom, and throughout the community. With the Fund established, it will allow any and all Temple alumni, fans, and supporters to donate to a centralized fund to be dispersed directly to student-athletes in exchange for their involvement in charitable activities in the North Philadelphia area and surrounding communities utilizing NIL agreements. The Blank Rome team collaborated with our clients to form the nonprofit corporation and ensure that all state and federal laws and National Collegiate Athletic Association (“NCAA”) guidelines were met in accordance with NIL legislation and policy. In accordance with NCAA guidelines, the Fund is not affiliated with Temple University.
To learn more about the Fund, please read Temple Alumni Launch The TUFF Fund, a Charitably-Focused Organization to Promote and Support Owl Student-Athletes (press release, August 30, 2022). The TUFF Fund was also featured in The TUFF Fund Puts Paid Opportunities Into Temple University Student-Athletes' Hands (The Philadelphia Inquirer, August 30, 2022).
The Blank Rome team was led by Thomas Cialino and Cody Wilcoxson, and included Sean Weissbart, Kyle Durante, Andrew Logan, Larry Beaser, and Carol Buckalew.