Pirate Blue donations

[Halldan]

On JD's recently completed Bryan Felt interview on the Trove Felt strongly suggested that all athletic donations be made to Pirate Blue. That raised the question from a member on the site about the donations being tax deductible.

Here's your answer


Pirate Blue Athletic Fund are tax-deductible. However, the deductibility of your contribution can be impacted by any associated benefits you receive, especially with regard to season tickets.
Here are the key details about the tax deductibility of Pirate Blue donations:

• General donations are tax-deductible. The Pirate Blue Athletic Fund directly supports Seton Hall University, a qualified 501(c)(3) organization. General contributions that do not provide a donor with any benefits are generally 100% tax-deductible.
• Benefits can reduce your deduction. If your donation to Pirate Blue comes with membership benefits, you must subtract the fair market value of those benefits from your total contribution to determine the deductible amount.
• Ticket purchase rights are no longer deductible. As a result of the Tax Cuts and Jobs Act of 2017, donations made to a university that give you the right to purchase tickets for athletic events (like priority seating premiums) are no longer tax-deductible. This change took effect for contributions made after December 31, 2017.
• Special campaigns may have different rules. In the past, Seton Hall has run special campaigns, such as the "Pirates Pitch-In Campaign" in 2020, which allowed season ticket holders to convert their ticket purchases into fully tax-deductible donations.
• Consult a tax professional. Since tax laws can be complex and are subject to change, it is always recommended to consult with a tax professional regarding your specific situation.

 

[The Crows Nest]

On JD's recently completed Bryan Felt interview on the Trove Felt strongly suggested that all athletic donations be made to Pirate Blue. That raised the question from a member on the site about the donations being tax deductible.

Here's your answer


Pirate Blue Athletic Fund are tax-deductible. However, the deductibility of your contribution can be impacted by any associated benefits you receive, especially with regard to season tickets.
Here are the key details about the tax deductibility of Pirate Blue donations:

• General donations are tax-deductible. The Pirate Blue Athletic Fund directly supports Seton Hall University, a qualified 501(c)(3) organization. General contributions that do not provide a donor with any benefits are generally 100% tax-deductible.
• Benefits can reduce your deduction. If your donation to Pirate Blue comes with membership benefits, you must subtract the fair market value of those benefits from your total contribution to determine the deductible amount.
• Ticket purchase rights are no longer deductible. As a result of the Tax Cuts and Jobs Act of 2017, donations made to a university that give you the right to purchase tickets for athletic events (like priority seating premiums) are no longer tax-deductible. This change took effect for contributions made after December 31, 2017.
• Special campaigns may have different rules. In the past, Seton Hall has run special campaigns, such as the "Pirates Pitch-In Campaign" in 2020, which allowed season ticket holders to convert their ticket purchases into fully tax-deductible donations.
• Consult a tax professional. Since tax laws can be complex and are subject to change, it is always recommended to consult with a tax professional regarding your specific situation.

Dan

Thank you I had raised the issue, and was likely thinking of the "priority seat premium"; so it sounds like all other donations to Pirate Blue are tax deductible, net of any benefits received.

That helps...would be great to figure out how to re-position/characterize those seat premiums to also get them in the tax deductible category...but I am guessing that has been assessed.

Thank you again for clarifying that.

 

[Halldan]

I just made a donation to the school to help with revenue sharing. But I wasn't sure how to make the check out, so I called the school. They told me to make it out to Pirate Blue and it would be tax deductible if I did it that way. So I did.