Iron Dukes - 2018 tax question

[Kimist]

For a number of years, the IRS has limited the deduction of gifts to all college athletic booster clubs, such as The Iron Dukes, to 80% of the donated amount if "seating priority for an event held on Duke's campus is accepted." Thus a donor of $1,000 could only deduct $800 on their federal taxes. Season ticket holders would have been impacted by the rule.
It is my understanding that the IRS guidelines now in place for calendar year 2018 restrict the allowable deduction for such gifts to zero per cent. That means there is now no tax deduction for donations to The Iron Dukes (within the area mentioned).
Without getting into the weeds with a discussion of "why" and "what" you may wish to donate, it is a valid issue for a donor to the Iron Dukes to consider the overall financial impact of this change.
So far as I can tell, there has been nothing official on the topic either sent to Iron Dukes members or posted on the web site.
Perhaps there are some (legal) loopholes, or grandfather clauses, or ??? out there.
If anyone has any knowledge of the true impact of this change on Iron Dukes contributors, your thoughts would be most welcome!

k

[freshmanjs]

For a number of years, the IRS has limited the deduction of gifts to all college athletic booster clubs, such as The Iron Dukes, to 80% of the donated amount if "seating priority for an event held on Duke's campus is accepted." Thus a donor of $1,000 could only deduct $800 on their federal taxes. Season ticket holders would have been impacted by the rule.
It is my understanding that the IRS guidelines now in place for calendar year 2018 restrict the allowable deduction for such gifts to zero per cent. That means there is now no tax deduction for donations to The Iron Dukes (within the area mentioned).
Without getting into the weeds with a discussion of "why" and "what" you may wish to donate, it is a valid issue for a donor to the Iron Dukes to consider the overall financial impact of this change.
So far as I can tell, there has been nothing official on the topic either sent to Iron Dukes members or posted on the web site.
Perhaps there are some (legal) loopholes, or grandfather clauses, or ??? out there.
If anyone has any knowledge of the true impact of this change on Iron Dukes contributors, your thoughts would be most welcome!

k

I prepaid my Iron Dukes contributions through 2021 last year and deducted 80% of the whole thing. I don't think there is much you can do now. This does impact all major college sports programs, so perhaps someone will figure out a way around it.

[DukieInKansas]

Universities have been trying but no luck so far. I know the Williams Fund conceded as much recently to my boss.

[weezie]

I prepaid my Iron Dukes contributions through 2021 last year and deducted 80% of the whole thing. I don't think there is much you can do now. This does impact all major college sports programs, so perhaps someone will figure out a way around it.

Ditto. The pain of that early payment will be minimal compared to what's coming in 2019. Very unlikely that colleges will be able to find a way out of that bind.

[Reilly]

If you give $250 to the Gardens you get a calendar: http://gardens.duke.edu/support/gardens-membership

[Kimist]

If you give $250 to the Gardens you get a calendar: http://gardens.duke.edu/support/gardens-membership

But likely no seats in Cameron Indoor Stadium. . .