[Steven Smith]

Also as a note, there are pretty clear rules about dispersing assets from a 501c3 to a private individual (aka, you usually can't). If the 501c3 no longer has a need for it they can sell it or donate it to another non-profit organization (say another team in the area).

I haven't read them in awhile, so take that with a grain of salt, but it is to fix the problem of establishing a non-profit, receiving assets as donations/grants/etc under the premise that it will be used for non-profit/education, and then some time later rolling that to a person or for profit company and having them net a "profit" off the assets.