The Hokie Way nonprofit launches for Virginia Tech NIL opportunities

There are now four NIL collectives or nonprofit organizations designed to support Virginia Tech athletes through NIL opportunities. The Hokie Way, a nonprofit organization, launched Tuesday.

“The Hokie Way will raise funds to support charitable organizations across the commonwealth through the active engagement of Virginia Tech student athletes who wish to use their names, image, and likenesses (NIL) to advance the work of charitable organizations,” a press release stated. “With the help of aligned collectives focused on NIL opportunities, The Hokie Way will assist in building cause-marketing partnerships.”

With three previously announced NIL collectives launched to support the Hokies, Virginia Tech has appeared to take a more hands-on than some other institutions. A release from the athletic department in April noted that Director of Athletics Whit Babcock “confirmed that a trio of NIL collectives have offered their services to Virginia Tech student-athletes, businesses and donors.”

The athletic department release specifically named Commonwealth NIL, Hot Route Marketing, LLC, and Triumph NIL, LLC.

The release about the launch of The Hokie Way came from a member of Triumph NIL, suggesting potential communication or collaboration between Virginia Tech’s collectives, in addition to the athletic department sharing information about individual collectives.

Former Virginia Tech quarterback Tyrod Taylor on the board of directors

The latest release announced nine members of The Hokie Way’s board of directors.

Jim Petrine is the president, James Pearman is the treasurer and Jim Cowan is the secretary. Other board of directors members include Justin Robinson, Nick Rush, Bridget Ryan Berman, Tyrod Taylor, Jalia Tolbert and Kelly Woolwine. Taylor is a former Hokies quarterback, Robinson is a former guard for the school’s men’s basketball team and Tolbert is a former volleyball player.

“The Hokie Nation turns out strong to show its support. When we have a hurricane on a Thursday night [football game], we still show up,” Petrine said in the release. “Our fans are fantastic in that way and support us greatly. We are the school with the lunch pail, which symbolizes how everyone gets involved. That’s the right way to do NIL, and that’s The Hokie Way.”

The Hokie Way has applied for tax-exempt status

The Hokie Way’s website says the organization will selected approximately 10 charitable organizations annually to receive services from athletes. The Hokie Way will both seek and receive proposals from charitable organizations.

“Provided services may vary depending upon the unique needs defined by the partner organizations, but may include personal appearances for special events/activities, social media promotions, other marketing strategies, and teaching/leading clinics,” the website states.

The Hokie Way’s website says the organization is in the process of applying for 501(c)(3) status.

“While The Hokie Way believes that it is operating consistently with Code Section 501(c)(3), there is no assurance of classification until receipt of a favorable determination letter from the IRS,” the website states. “Upon receipt of the determination letter, The Hokie Way’s tax exemption, if approved, will relate back to its date of incorporation on June 30, 2022.”