Did you know: There's a Garnet Trust -- and -- Garnet Trust Foundation?

Brian Shoemaker

Gamecock Central Founder+Publisher
Staff member
Aug 26, 2021
3,982
18,517
113
They are separate but closely aligned organizations. Both exist to support South Carolina NIL.

What's the difference between the two?

The BIGGEST difference, in my opinion, is tax deductibility.

Membership fees to Garnet Trust are NOT tax deductible. Donations to Garnet Trust Foundation are tax deductible.

Here's some quick info about each organization.

Launched in November 2021, Garnet Trust creates connections and experiences between USC student-athletes and fans. Utilizing their NIL, USC student-athletes are paid to make media appearances, autograph items, attend events, and more.

Members know they’re supporting USC student-athletes and receive benefits that vary based on membership level. Membership fees are not tax deductible (this is not tax advice; consult a tax professional). Separately, Garnet Trust helps USC student-athletes and local businesses work together.

Launched in October 2022, Garnet Trust Foundation is a non-profit organization and has been granted tax-exempt status under Internal Revenue Code Section 501(c)(3). There's an unpaid board of directors comprised of USC donors and former USC student-athletes.

Utilizing their NIL, USC student-athletes are paid to promote local charitable organizations and causes, educate the general public regarding those charitable organizations and causes, and positively impact communities.

Donors know they’re supporting USC student-athletes, helping local charitable organizations, and positively impacting communities. An added benefit is donations are tax deductible (this is not tax advice; consult a tax professional).

Link to Garnet Trust
Link to Garnet Trust Foundation

Note: The foundation's website is one-page, simple, and hopefully easy to understand.