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This is why I'm not putting any stock in his Elite 11 performance...not saying he won't be great but doing well in the underwear olympics shouldn't move the needle.

It's not laundering. It's more like keeping money clean, preventing it from needing to be laundered.

The for-profit entities are required to have their own banking/tax system separate from the nonprofit. And money cannot freely flow between the entities.

So, here, the subsidiary would need to raise revenue independently the nonprofit. The advantage is that nonprofit can raise money for employment and make certain payments (e.g., related to facilities) that would be nontaxable, as long as the employment and payments benefit the mission of the nonprofit. The for-profit subsidiaries could raise and pay for anything unrelated to the mission (for example, raise money for NIL payments). And for profit subsidiaries could have shareholders (e.g., if set as an S-Corp).

Positive feelings yes, ROI probably not. The trip to the final four was actually a financial loss for the WBB Hokies. The TV revenue for NCAA post season games was not sufficient to cover the expenses is my understanding from a friend in the athletic department.

It's still all about political alignment, which is clear if Roc was focused on getting Youngkin or a Youngkin appointee in before a certain deadline. If the current governor was Youngkin disciple, does Roc get kicked off the committee or does that hypothetical governor convince people on his side of the aisle that are threating to step down to go along with that process for political expediency. (Political expediency is all the rage these days at the national level, often at the expense of their own personal power, but I'm digressing...)

But I get your point and you're definitely more in the know of the process than I am. My point is that almost everything related to decisions made in an executive capacity are inherently political. And that's true here, even if right-sided appointees were upset with Roc's process. The question is ultimately how did the executive respond, not whether board members politically aligned with Roc were also upset.

But it's possible that what Roc was doing was so egregious that even politically aligned governor's would have to remove him. And unless further details are revealed that show his actions rose to that level, one can only assume Spangberger's decision was political (but rightfully so).

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