The tax code changes have now been passed by Congress and could have an impact on your philanthropic gifts. This includes the provision in Section 170(I) of the Internal Revenue Code that previously allowed for donations related to priority ticket access for collegiate athletic stadium events to be tax deductible for 80% of the total gift amount. It is our understanding that this new legislation amends Section 170(I) to eliminate any deduction for contributions made in exchange for seating rights at collegiate athletic stadium events. Thus, any charitable contributions made to Cal Athletics attached to season tickets will no longer be considered tax deductible starting January 1, 2018.
Click here to view the full correspondence from Interim Chief Development Officer, Beth Voetsch, regarding changes to the tax code.
If you have questions or concerns, the Cal Athletics Fund team would be happy to assist you. We can be reached by calling (510) 642-2427 or by emailing email@example.com.