Isn't this either very border line or even illegal in the US (genuinely asking)? - I thought every contract between 2 parties required an exchange of something, so money can't be traded for nothing, but maybe I'm wrong. Edit: getting downvoted, not sure why, explanation would be helpful
That probably also means it's not income and will be tax-free.[2]
[1] https://en.wikipedia.org/wiki/Gift_(law)
[2] https://en.wikipedia.org/wiki/Gift_tax_in_the_United_States