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Where does the money go?

 
 
Reply Mon 21 Nov, 2011 09:57 am
I have two unrelated yet parallel questions.
QUESTION ONE:
When a coach or a player of a professional sporting team gets fined by his or her respective commissioner or regulatory body where does the fine money go?
EX:
Quote:
The NFL is expected to fine New York Jets coach Rex Ryan between $75,000 and $100,000 for using profane language to a fan at halftime of last Sunday night's game against the New England Patriots, a league source told ESPN NFL Insider Adam Schefter.

http://espn.go.com/new-york/nfl/story/_/id/7260763/at-least-75k-fine-likely-rex-ryan-new-york-jets-source-says

QUESTION TWO:
If and when a charity or nonprofit organization closes its door (not from declaring bankruptcy) where does its warchest or trust fund go?

Quote:
Sandusky's charity considers options amid sex scandal
Foundation weighs future, including shuttering program, its director says

http://www.msnbc.msn.com/id/45361807/ns/us_news-crime_and_courts/#.Tsp0Q1Yg5nE
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Type: Discussion • Score: 0 • Views: 2,519 • Replies: 6

 
djjd62
 
  2  
Reply Mon 21 Nov, 2011 10:03 am
@tsarstepan,
1. they should give rex ryan a medal, not a fine

2. they should take the remaining money left in the sandusky foundation, convert it all into 1 dollar bills, pile the bills up, soak them in gasoline, set them on fire and throw sandusky (also soaked in gasoline) onto the conflagration (if mr. sandusky happens to be innocent, it will at least make a cool spectacle)
Region Philbis
 
  3  
Reply Mon 21 Nov, 2011 10:07 am
@tsarstepan,

the fine $$ goes back into the league's coffer...



R(i've always wanted to use the word 'coffer' in a sentence)P
tsarstepan
 
  1  
Reply Mon 21 Nov, 2011 10:31 am
@djjd62,
I get to learn a new word:
Quote:
con·fla·gra·tion
   [kon-fluh-grey-shuhn]
noun
a destructive fire, usually an extensive one.

Thanks DJ. Smile
0 Replies
 
PUNKEY
 
  2  
Reply Mon 21 Nov, 2011 01:51 pm
When a charity ceases to do its "programs", it notifies the IRS that it is closing. All assets must be sold, with the proceeds given to other like agencies. (non profit charities)

I wonder what its annual budget was? Looks like they have a building and staff.

If I were on the board, I'd work to change the name and continue the programs. (It's done all the time)

Too bad one person's bad behavior could topple a good cause.



tsarstepan
 
  1  
Reply Mon 21 Nov, 2011 03:27 pm
@PUNKEY,
I'd figured that changing their name would have been a good option for them and wondered why they didn't just take that initiative and do just that.
0 Replies
 
tsarstepan
 
  1  
Reply Mon 21 Nov, 2011 03:30 pm
@Region Philbis,
Region Philbis wrote:


the fine $$ goes back into the league's coffer...



R(i've always wanted to use the word 'coffer' in a sentence)P

That's a lot of money per pop! I wonder if the secretaries of the league commissioners ever get to splurge on their office parties from this coffer because what else do these leagues do with this large sum of money? I can't imagine they divvy it up for the owners every year.
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