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Reply to "Daughter and grandson just turned down full scholarship to Maryland (UMD)"
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[quote=Anonymous][quote=Anonymous]There are all kinds of scholarships available to people in certain organizations, or with certain characteristics. These are private organizations which provide these scholarships as a benefit to their members. You could do this, too. You and your friends could contribute to a pot of money that grows over time to be used by everyone's children for college.[/quote] Yes, if a group of my friends incorporated a for-profit entity that was not gaining any tax advantages, sure, that would be fine. I'm asking if these are groups that are supposed to have charitable missions as defined by the IRS? If so, it is probably illegal to have giveaways to family members.[/quote]
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