Wow that is incredible generosity. PK far surpasses probably every NHL teams individual annual donations to their local CH.
Simply an amazing humanitarian donation.
Yeah, they donated 1.5M. Really pales in comparison to what PK has done though, very impressed by this one. Kudos to him.
It doesn't really pale, 1.5 mill is a lot of money. We should feel blessed that stars are so humble to admit that they are making so much money and are willing to donate.
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It doesn't really pale, 1.5 mill is a lot of money. We should feel blessed that stars are so humble to admit that they are making so much money and are willing to donate.
I'm not sure you can compare the two as I'm not sure PK hasn't actually donated any specific amount of money. Is he going to give $10 million cash himself? Or has he just made a pledge of $10 million to be fulfilled over the next seven years through a personal donation (no word on how much), contributions from his foundation (i.e. money raised from other people) and the use of his name and brand in fund raising (again money raised from other people). Admirable, but this thread makes it seem like he's handed over $10 million cash, which I do not think is the case.
They were talking about him on the radio yesterday. The reporter said PK spends a lot of time at the hospital visiting sick kids, including going once on Christmas with some gifts all by himself. WWasn't a team or NHL 'event'.
Not a fan of PK Subban but now I respect the guy. Not a lot of overpaid athletes are willing to give up a chunk of money to charity. I wish others follows. Good job PK!! Kudos to you.
I'm not sure you can compare the two as I'm not sure PK hasn't actually donated any specific amount of money. Is he going to give $10 million cash himself? Or has he just made a pledge of $10 million to be fulfilled over the next seven years through a personal donation (no word on how much), contributions from his foundation (i.e. money raised from other people) and the use of his name and brand in fund raising (again money raised from other people). Admirable, but this thread makes it seem like he's handed over $10 million cash, which I do not think is the case.
My understanding is he's personally putting up 10 mill with another 7 years+ of his foundational support to raise money on top of that.
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My understanding is he's personally putting up 10 mill with another 7 years+ of his foundational support to raise money on top of that.
You are correct.
$10M of his own cash plus his foundation's commitment to fund raising that extends through the term of his contract with the Canadiens.
So yes, he is handing over $10M of his own cash.
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I'm sure a tax accountant can chime in but the donation of 10 M after tax is significantly more than a years salary. The donations are probably staggered over a course of time, but don't lessen the donation by any extent.
10 MILL over 5 years is 2 mill a year. Subban must earn 2,800,000 each year to make the payment or approx 14,000,000 less the charitable tax donation allowable in Canada.
As I recall Charity tax deduction is around 10 - 15% of what you give.
It's a staggering, generous move to make for someone of his age. It's after tax dollars being donated unless the amount being quoted is pre-tax.
I'm sure a tax accountant can chime in but the donation of 10 M after tax is significantly more than a years salary. The donations are probably staggered over a course of time, but don't lessen the donation by any extent.
10 MILL over 5 years is 2 mill a year. Subban must earn 2,800,000 each year to make the payment or approx 14,000,000 less the charitable tax donation allowable in Canada.
As I recall Charity tax deduction is around 10 - 15% of what you give.
It's a staggering, generous move to make for someone of his age. It's after tax dollars being donated unless the amount being quoted is pre-tax.
The guy is donating 14% of his salary over the next 7 years.
Quote:
Originally Posted by CalgaryFan1988
PK will be making 11 million dollars US dollars next season. Close to 17 million dollars Canadian.
He's essentially donating close to 60 percent of his salary.
Quote:
Originally Posted by EldrickOnIce
You are correct.
$10M of his own cash plus his foundation's commitment to fund raising that extends through the term of his contract with the Canadiens.
The $10 million is a combination of a personal donation from Subban — in the seven-figure range — as well as funds from the P.K. Subban Foundation and fundraising activities using his name and brand over the next seven years.
This doesn't diminish what he's doing. Although the full $10 million won't be coming out of his pocket, he is the individual who will make it all happen.
Last edited by longsuffering; 09-18-2015 at 05:51 AM.
Reason: Clarity
I'm sure a tax accountant can chime in but the donation of 10 M after tax is significantly more than a years salary. The donations are probably staggered over a course of time, but don't lessen the donation by any extent.
10 MILL over 5 years is 2 mill a year. Subban must earn 2,800,000 each year to make the payment or approx 14,000,000 less the charitable tax donation allowable in Canada.
As I recall Charity tax deduction is around 10 - 15% of what you give.
It's a staggering, generous move to make for someone of his age. It's after tax dollars being donated unless the amount being quoted is pre-tax.
Still staggering.
Remember he gets paid in U.S. dollars so the conversion to the crappy Canadian dollar helps a lot. Saying that it's still a lot of money.
