TAX IRREGULARITIES OF BOWL CHAMPIONSHIP SERIES ORGANIZATIONS ABOUT PLAYOFF PAC Launched with support from key Members of Congress in October 2009, Playoff PAC is the principal opposition group to college football’s Bowl Championship Series. Playoff PAC’s website is located at www.PlayoffPAC.com. Playoff PAC is a federal political committee dedicated to establishing a competitive post- season championship for college football. The Bowl Championship Series is inherently flawed. It crowns champions arbitrarily and stifles inter-conference competition. Fans, players, schools, and corporate sponsors will be better served when the BCS is replaced with an accessible playoff system that recognizes and rewards on-the-field accomplishment. To that end, Playoff PAC helps elect pro-reform political candidates, mobilizes public support, and provides a centralized source of pro-reform news, thought, and scholarship. ACKNOWLEDGMENTS Playoff PAC thanks all members of its volunteer team and its Board of Directors for contributing to this report, with special appreciation to Cole Nielsen Design for their work on the graphic layout. © Playoff Political Action Committee, Inc. 2010 P.O. Box 34593 Washington, DC 20043
[email protected] TABLE OF CONTENTS Executive Summary . 1 Introduction . 4 I. Executive Compensation Paid from Charitable Funds . 5 A. Factual Findings . 5 B. Legal Analysis . 9 II. Undisclosed Lobbying Financed with Charitable Funds . 17 A. Factual Findings . 17 B. Legal Analysis . 19 III. Political Contributions Made with Charitable Funds . 21 A. Factual Findings . 21 B. Legal Analysis . 22 IV. Frivolous Spending of Charitable Funds . 23 EXECUTIVE SUMMARY layoff PAC’s report, Public Dollars Serving Private Interests: Tax Irregularities of Bowl Championship Series Organizations, is the result of an exhaustive review of over 2,300 Ppages of tax records and public documents.