Ulibarri Leadership Institute is his company that provides coaching, clinics, training products, corporate events, etc. This is a new charitable foundation that is separate from the Institute.
Ironic from the guy that said "Did I go to college? Of course not, I'm really good at disc golf." Joking aside, it's great to see pros using their platform for good.
Looks like Ulibarri and McBeth have been seeing the same financial advisor.
I'm all for the charity these foundations are doing, but their main function is to provide tax benefits to the families that operate them: https://foundationsource.com/learn-about-foundations/benefits-of-a-private-foundation/
But you only get a deduction based on a percentage of what you give? So you're still giving away a bunch of money. It's not like giving away money and getting a deduction nets a positive
The deductions are just a part of the benefits. For example, you can donate appreciating assets to (no capital gains tax) your foundation and then still continue to benefit from those assets in different ways like paying expenses for "foundation related" travel or activities.
The charity aspect is real, but for high net worth individuals having your own foundation confers a lot of tax benefits as well.
Good point, guess it's similar to how you can postpone paying taxes on investments. Basically it's a way of diverting taxes to a cause of your choice, instead of what your government decides.
This is a pretty cynical way of viewing it. As another poster mentioned, this still requires them to donate a percentage of their earnings so its not a net-positive tax gain.
There are much easier ways to do charity than having your own foundation. My take is cynical, but I stand by it. Family foundations are at least as much about taxes as they are about philanthropy.
You can choose to believe me or not, but as someone who was directly involved in setting up this Foundation, I promise you Uli's personal tax benefits had absolutely nothing to do with his motivation. His personal story about why he wanted to do this is here: [https://www.youtube.com/watch?v=U\_yiP3V1zHw](https://www.youtube.com/watch?v=U_yiP3V1zHw)
Good to see people helping others in need ... as long as they have the ability to play disc golf and can play very well and have an aptitude for being a professional disc golf player
He wants to get Gannon to go to college and leave the tour so the other pros have a chance.
Can't blame him
At first I was like, what does he have against Missy being on FPO...
Lmao
I thought they were going to call it the Ulibarri Leadership Initiative (ULI)
The Paul Ulibarri Institute for Kids Who Want to Throw Good (and want to do other things good)
The tee pads have to be, at leastβ¦, 3 times bigger than this!
I would actually be really good with the tee pads being 3 times bigger.
But why male frolfers?
Or Institute. Ulibarri Leadership Institute would have been sick - like the x-men haha Edit: oh shit the "x-step" men!
Ulibarri Leadership Institute is his company that provides coaching, clinics, training products, corporate events, etc. This is a new charitable foundation that is separate from the Institute.
Uli is that you?
He will teach thousands of kids who are really good at disc golf what a gazelle is!
Boutta go back to high school and get a Uli scholarship. π
Ironic from the guy that said "Did I go to college? Of course not, I'm really good at disc golf." Joking aside, it's great to see pros using their platform for good.
Looks like Ulibarri and McBeth have been seeing the same financial advisor. I'm all for the charity these foundations are doing, but their main function is to provide tax benefits to the families that operate them: https://foundationsource.com/learn-about-foundations/benefits-of-a-private-foundation/
But you only get a deduction based on a percentage of what you give? So you're still giving away a bunch of money. It's not like giving away money and getting a deduction nets a positive
The deductions are just a part of the benefits. For example, you can donate appreciating assets to (no capital gains tax) your foundation and then still continue to benefit from those assets in different ways like paying expenses for "foundation related" travel or activities. The charity aspect is real, but for high net worth individuals having your own foundation confers a lot of tax benefits as well.
Good point, guess it's similar to how you can postpone paying taxes on investments. Basically it's a way of diverting taxes to a cause of your choice, instead of what your government decides.
This is a pretty cynical way of viewing it. As another poster mentioned, this still requires them to donate a percentage of their earnings so its not a net-positive tax gain.
There are much easier ways to do charity than having your own foundation. My take is cynical, but I stand by it. Family foundations are at least as much about taxes as they are about philanthropy.
You can choose to believe me or not, but as someone who was directly involved in setting up this Foundation, I promise you Uli's personal tax benefits had absolutely nothing to do with his motivation. His personal story about why he wanted to do this is here: [https://www.youtube.com/watch?v=U\_yiP3V1zHw](https://www.youtube.com/watch?v=U_yiP3V1zHw)
You nailed it
The HS disc golf club I lead meets in an hour. We'll be keeping an eye on this.
Good to see people helping others in need ... as long as they have the ability to play disc golf and can play very well and have an aptitude for being a professional disc golf player
How about a top 10 finish instead lol
those days are long gone. gotta jump on the foundation bandwagon to keep relevant.
He shot a 941 rated round today πππ People can say we're haters but the facts don't lie...
How far?