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TAX INFORMATION

The UConn Foundation, Inc. is recognized by the Internal Revenue Service as a tax-exempt 501(c)(3) organization, and contributions to the UConn Foundation are deductible for federal income tax purposes to the extent allowable by law. Please consult your tax advisor for further information about the tax implications of your contribution.

SEASON TICKETS & SEAT DONATIONS

Donors to UConn Athletics, are entitled to receive preferred seating locations for season tickets purchased for football, men's soccer, women's soccer, men's ice hockey, men's basketball, or women's basketball. The cost of tickets is not tax deductible for federal income tax purposes.

IMPORTANT NOTE: Effective January 1, 2018, a federal statute originally named the Tax Cuts and Job Act enacted changes to the Internal Revenue Code to provide that no portion of seat-related contributions are deductible for federal income tax purposes.

In order to deduct a contribution in support of UConn Athletics, the donor must submit in writing a waiver of points and all other ticket-related benefits at the time of making a pledge and/or contribution. In requesting a waiver of points and benefits, the donor understands that he or she forfeits priority points and their application as it relates to ticket assignment and allocation; once points and benefits are forfeited, they cannot be credited retroactively to a donor's account.

OTHER BENEFITS

The Internal Revenue Code also addresses other benefits (other than priority seating) that a donor may receive as a result of the contribution. A donor may only deduct the amount of a contribution that is more than the value of other benefits received. Car decals, newsletters, and other token items do not reduce the amount eligible for deduction for tax purposes; however, other goods or services a donor receives in consideration for a contribution may reduce a donor's eligible deduction. The UConn Foundation will inform you of the estimated fair market value of any goods or services that you are provided in exchange for your contributions.

SUBSTANTIATION REQUIREMENTS

As required by the Internal Revenue Service, the UConn Foundation, Inc. will furnish donors with receipts for contributions. Donors should retain their receipts for federal income tax purposes. If you have questions, please contact the Athletic Development Office at 860-486-3863 or huskyathleticfund@foundation.uconn.edu.

Please consult your tax advisor to determine the amount of your contribution eligible for deduction for federal income tax purposes.

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