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What the hell did Bill Davis do wrong?
didn't get a job offer anywhereWhat the hell did Bill Davis do wrong?
The tweet from Bryan Fischer (whoever he is) acknowledges the fact OSU is in the beginning stages of a bidding was with the NFL regarding coaches. Yeah, culture.That’s a bit insane. Football factory U. tOSU fans better never come on here and talk about the “culture” at Penn State.
I think that I could do that job. I may be over-qualified. But, for half a million, I'd be willing to give it a go.Part of the problem must be that no one knows who the hell he is or what he does.
Do we have any idea on how much PSU assistants make? Head coaches make a lot of money, so I'm fine with their assistants being paid well. That said, the whole salary structure is out of whack.Please take this opportunity to remember that Penn State has a culture problem.
The tweet from Bryan Fischer (whoever he is) acknowledges the fact OSU is in the beginning stages of a bidding was with the NFL regarding coaches. Yeah, culture.
LJ Jr. needs to Tweet "Pops tryin' to bank another 3/4 Million*"I guess that answers the question about Johnson's future.
Throw away Junior's tweet.
OL
Put coaches on the same pay scale as professors. Someof the problems (not all) probably go away.
Put coaches on the same pay scale as professors. Someof the problems (not all) probably go away.
Can’t believe Schiano will be making double Johnson’s money.
Tax Reform Tosses Nonprofits $1M Quandary
The recent reform of the U.S. tax code has been lauded in many circles, but it has left some nonprofits reeling and facing potentially large excise taxes.
For tax years beginning on or after Jan. 1, tax-exempt organizations face a 21 percent excise tax on executive compensation that is above $1 million, prompting intense chatter among some nonprofits worried about hefty tax bills.
While nonprofit organizations have had to contend with the excess benefit transaction rules, there was no hard limit on how much they could pay top executives without tax consequences. By contrast, publicly held companies have long paid additional taxes (by result of the disallowance of a deduction) on certain executive pay over $1 million.
The new law imposing the 21 percent excise tax on compensation over $1 million is equal to the corporate tax rate and is owed by the employer, not the employee. Further, it applies only to the amount paid above $1 million. There is also a 21 percent excise tax on “excess parachute payments,” which generally includes amounts paid as the result of separation (e.g. severance pay) in excess of three times the executive’s five-year average pay.
The change requires that all tax-exempt organizations identify employees who meet the $1 million threshold. If an organization has many employees earning more than $1 million, the tax will only be levied on the five highest paid among them.
Workers likely to be impacted include top executives running hospital systems, nonprofit insurance companies, large charities and foundations, university presidents and executives running political organizations. The change will hit colleges with high-paid athletic coaches especially hard. For example, the $7 million annual pay for Duke University basketball coach Mike Krzyzewski would incur an excise tax bill of $1.26 million (21 percent of $6 million). Likewise, the $11 million paycheck for University of Alabama football coach Nick Saban would cost the school an extra $2.1 million each year (21 percent of $10 million).
The law exempts compensation for medical services, including pay to licensed medical professionals, such as veterinarians, doctors and nurses. So, a nonprofit hospital system with several surgeons earning more than $1 million will not need to pay excise tax on those earnings.
The excise tax change has left chief financial officers at affected organizations seeking creative approaches to mitigate the impact. There are two principal actions that organizations should consider in an effort to avoid paying the excise tax:
1. Restructuring bonus payout terms. For executives with pay hovering near the $1 million level—perhaps rising above it some years and below for others as a result of performance-based payments—employers can look at the structure of remuneration to gauge if modifications could minimize the tax impact. For example, a coach with a base pay of $500,000, who leads a team to the playoffs on average every two years and has a $1 million bonus for doing so, would trigger the excise tax on years when the team performs well.
However, weighting that bonus schedule to reflect performance goals over several years could change the coach’s pay to $1 million every year, avoiding the tax liability entirely. The goal is to structure pay so that by weighting performance goals over several years, pay remains relatively steady, avoiding fluctuating above the $1 million threshold. The same approach could be used for any executive with performance targets that can result in large swings in bonus size.
2. Defer compensation. Proposed regulations under section 457(f) of the tax code, excludes taxing compensation that is subject to “substantial risk of forfeiture.” That opens up the possibility to using deferred compensation to prolong the risk of forfeiture and postpone the tax liability. A nonprofit entity and the affected executive could, for example, contractually agree to extend the vesting period of a yet-to-be-earned bonus, pushing the tax liability into future years.
Organizations can also use non-compete agreements for former employees to extend their risk of forfeiture for up to five years. Another option is putting off vesting until after retirement. So, an executive earning $1.1 million could have $100,000 of that amount placed into a deferred compensation plan, dated to vest one year after retirement. Then, in the first year of retirement, assuming that the deferred compensation doesn’t exceed $1 million, the executive would collect that amount, avoiding the excise tax liability.
Organizations can also look to make some smaller changes that can help. If employers are not maxing out their retirement plan contributions, they can do so to put some compensation there. However, contributions generally max out at $55,000, so that change won’t make a significant difference.
Nonprofits could also add non-taxable fringe benefits, such as retiree medical coverage, although that may end up costing more than reducing excise taxes because increased benefits would also apply to others.
Additionally, employers with severance or other agreements that put them at risk of a tax on excess parachute payments can look for ways to build up an employee’s compensation while employed to mitigate the excise tax impact.
With the new tax laws having just passed, it will remain unclear exactly how all this will play out until the IRS writes new regulations to codify the latest tax regime. Those regulations may even result in the agency nixing its proposed section 457(f) regulation, making it harder to avoid taxes using the substantial risk of forfeiture approaches outlined above.
http://www.nonprofitpro.com/post/tax-reform-tosses-nonprofits-1m-quandary/
What does this imply about the culture in Columbus? Hypothetical question...
Ohio State: Ohio State has announced raises for Urban Meyer’s on-field assistants, becoming (for now) the first program to pay its assistants more than $7 million.
ARMS. RACE.
With each passing day, college programs less resemble college programs. Is this sustainable?
Please take this opportunity to remember that Penn State has a culture problem.
Put coaches on the same pay scale as professors. Someof the problems (not all) probably go away.
Yeah, everybody gets to cash in except for the kids playing the game.
I just can’t see how this is sustainable. Will the bubble burst? At what point is the money too much for some schools, even large P5 schools, to remain competitive (some already aren’t)? Also, the more money involved, the more likely the corruption, which could accelerate the demise of college football as we now know it.
Will the shit hit the fan?
I just can’t see how this is sustainable. Will the bubble burst? At what point is the money too much for some schools, even large P5 schools, to remain competitive (some already aren’t)? Also, the more money involved, the more likely the corruption, which could accelerate the demise of college football as we now know it.
Will the shit hit the fan?
Had a feeling this was coming as OSU's AD was quoted a week or so ago lamenting how out of control coaching salaries are becoming...a sure sign that OSU was about to breach the $1 million yardstick for assistants. To a certain degree it makes sense for Schiano, who was lined up to be a head coach at TN (and would most likely receive other offers from schools with less retarded fan bases) or an NFL coordinator, both of which would pay him as much or more than $1.5 million. Day is a bit of a surprise, but he was actually scheduled to go up to $800K in the second year of his current contract, so the revision to $1 million is really "only" a $200K bump, not the $600K being reported. He also reportedly is signing a 3-year deal, which is one of the longest contracts I've every heard Meyer having with an assistant coach.I just can’t see how this is sustainable. Will the bubble burst? At what point is the money too much for some schools, even large P5 schools, to remain competitive (some already aren’t)? Also, the more money involved, the more likely the corruption, which could accelerate the demise of college football as we now know it.
Will the shit hit the fan?
Shit hit long ago. The athletic departments at most schools operate at a deficit and are subsidized through general funds. You know those, quirky little fees the pop up on tuition bill, the euphemisms for which are impossible to decipher,
It will get worse, as cowards, university presidents and their AD lackeys, are running the show.
What does this imply about the culture in Columbus? Hypothetical question...
Wonder how Larry feels being #5 in assistants compensation though with longest tenure ? And Seniority ?
Maybe it will take MEDIA. OUTRAGE. , STUDENT. OUTRAGE. , and GENERAL. PUBLIC. OUTRAGE. to bring this to the forefront. Regarding the media, obviously it won't be espn digging into it.
We talk a lot about the tuition bubble bursting. That could start a domino effect that drops a bomb on college athletics.
At this time, I remember that Joe only was paid $1 MM in salary in his last year or two. In a relative sense, Penn State really did it old school. Joe was a legend, the guy who won all those games, gave money back to the school, and put academics first. And he was paid far less than other coaches in the top tier. Of course, Penn State has joined the modern age, so to speak, since then. Given Franklin's character and the way he runs the program, I'm O.K. with it. I still don't know how long it can be sustained, even with financial guru Sandy at the helm ( ).
Sorry for rambling.
What in the hell are you even talking about? What culture problem is going on here? What about this comes close to warranting OUTRAGE? You're surprised that Ohio State Football has enough money to keep their coaches from accepting NFL jobs, but since "Franklin's character and the way he runs the program, I'm O.K with it". This is just an incoherent rambling with 0 substance, sounds like a a teenage girl trying to be political saying "we need to do something"