Information Regarding Pending Tax Legislation
We would like to inform you of pending tax legislation that could impact you and your gifts to the Sun Devil Club as the calendar year comes to a close and the tax proposal nears a potential vote. As you may be aware, the current IRS Tax Code allows for 80% of any seat gifts you pay to the Sun Devil Club to be deductible as a charitable contribution, if paying such amount provides the right to purchase tickets for seating at university athletics events. Under the new federal tax proposal, the ability to deduct 80% of your seat gifts associated with the purchase of tickets as a charitable contribution would no longer be permissible beginning in 2018.
Arizona State University and the Sun Devil Club are actively monitoring the situation and at this time, we do not have plans to adjust the donation structure of our season ticket seat-related contribution program for all football season ticket holders and for designated areas for men’s basketball for the seasons beginning in 2018.
We are considering a number of options and opportunities on how to move forward should this new tax legislation be passed into law, but you may want to consider the following option before the end of December as this legislation could possibly take effect as early as January 1, 2018:
- Pre-pay your football and/or men’s basketball seat-related contribution*
*We will use your seat-related contributions from the 2017 football season and 2017-18 men’s basketball season to determine an estimate of your seat-related contributions.
Please note this legislation will not affect the deductibility of any gifts that do not provide the opportunity to purchase tickets.
Our Sun Devil Club staff is happy to personally assist you with any questions you may have related to the proposed legislation. Please contact our office at 480-727-7700 (M-F, 8:00am-5:00pm) or by email at firstname.lastname@example.org, or reach out to your Sun Devil Club contact or Ticket Representative directly.
We thank you for your generous support of Sun Devil Athletics and our 600-plus student-athletes, and we will continue to keep you informed as this proposed legislation evolves.
We recommend you consult with your personal tax advisor to determine whether giving by the 2017 tax deadline is of value to you and how this proposed tax legislation will affect you.
Happy Holidays from all of us at the Sun Devil Club and Go Devils!
Senior Associate Athletics Director | Sun Devil Club Executive Director