Bills’ Hamlin will put the millions raised into his charity
May 9, 2023
Types : In the News
Buffalo Bills safety Damar Hamlin will use the $10 million given to online fundraising campaigns by well-wishers after his on-field collapse to fund his own nonprofit, the Chasing M’s Foundation.
The decision, first shared with The Associated Press Monday, begins the 25-year-old’s plan for the unprecedented outpouring of support that he received after his heart stopped following a tackle during a “Monday Night Football” game in January.
“We have been very deliberate and intentional about taking our time to set my charity up properly,” Hamlin said in a statement. “I’m excited to begin sharing news about programs we are creating to impact a generation of youth and give back to others.”
Experts say the question of whether the donors can claim a tax deduction for what they gave to the GoFundMe after his injury may depend on decisions by the IRS. Philadelphia attorney Don Kramer, who edits the website Nonprofit Issues, said the IRS has the discretion to retroactively recognize Hamlin’s nonprofit as tax exempt. That’s despite the fact, Kramer said, the cut off for applying for retroactive status is usually 27 months after an organization is founded.