Cavalier Corner

February 2022

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30 CAVALIER CORNER & VAF NEWS NOTABLES As you may have read in the December 2021 compli- ance corner, the NCAA membership will be voting on a new NCAA Constitution. Based on the timing that this edition of Cavalier Corner was sent to press, the out- comes from the January 2022 NCAA Convention will be addressed in the April edition of Cavalier Corner. However, it is important to note that the NCAA Board of Governors has approved a new constitution to be voted on by all three divisions during the Thursday, Janu- ary 20, 2022, association-wide business session. Each school and conference by division will be able to vote support, oppose or abstain regarding the new constitu- tion. Once the new constitution is adopted, three addi- tional Division I specific proposals will be voted on. The three additional proposals seek to: 1. Move Division I provisions (i.e., existing and cur- rent legislation found in the current constitution) out of the new constitution into new or currently existing NCAA bylaws (e.g., membership and organization of a Division I institution); 2. Update language for revenue distribution within Division I to reflect the current revenue distribu- tion practices (e.g., funds, names, and formu- las); and, 3. Move Division I dominant provisions (i.e., regula- tions that only apply to Division I) to appropriate or existing bylaws (e.g., Bylaw 20-revenue distri- bution and Bylaw 18-championship access). The NCAA Board of Governors expects that the new constitution will be adopted by a two-thirds majority vote across all three divisions. Once adopted, the next phase for Division I will be the work and outcomes from the Division I Transformation Committee. The Transfor- mation Committee will focus on five categories: 1. Membership 2. Governance 3. Student-Athlete Experience 4. Regulatory Structure 5. Financial Support to Student-Athletes As we progress through the next couple of weeks and months, stay tuned for updates from the UVA compli- ance office. NEW NCAA CONSTITUTION CONTINUED ERIC BAUMGARTNER Associate Athletics Director for Compliance COMPLIANCE CORNER | 434-982-5555 A TAX-WISE way to support the VAF If you are at least 70 1/2 years old, you are eligible to make a Qualified Charitable Distribution (QCD) from your IRA. Amounts distributed to support the Virginia Athletics Foundation will be excluded from federal income. QCDs typically count toward your required minimum distribution (RMD) if you are required to take one. Contact the Virginia Athletics Foundation to learn about the benefits of these gifts: Bequests and Beneficiary Designations | Life Income Gifts | Qualified Charitable Distributions | Gifts of Non-Cash Assets, including Stock and Real Estate PLANNED GIFTS COMBINE YOUR PHILANTHROPIC GOALS WITH SMART FINANCIAL STRATEGIES.

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