We do have this statement on our receipts so that should have us covered. Thank you again, John for always being so quick!
Margie
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Margie Hirose
Washington State University Foundation
margieh@wsu.edu------------------------------
Original Message:
Sent: 06-08-2023 07:43 PM
From: John Taylor
Subject: Tickets for Less - Athletic Donations
I would need more information. I am unfamiliar with the company or program; however, if a "contribution" is required to purchase tickets, IRS regulations since 2018 would not allow any deduction for any portion of the payment. Here's a snippet from an attorney interviewed by CASE:
"As of Jan. 1, 2018, donors who make a contribution in exchange for the right to purchase tickets or seating can no longer take a charitable deduction on 80 percent of the contribution. The law clearly states that "no charitable deduction will be allowed for any amount" of these contributions."
John
John H. Taylor
Principal
John H. Taylor Consulting, LLC
2604 Sevier St.
Durham, NC 27705
919.816.5903 (cell/text)
Serving the Advancement Community Since 1987
Original Message:
Sent: 6/8/2023 8:17:00 PM
From: Margie Hirose
Subject: Tickets for Less - Athletic Donations
Has anyone ever received contributions for the required seatback portion of Athletic ticket sales from a company (Tickets for Less). It sounds like this company came in and purchased a bunch of seats that had required contributions attached to them. Would the IRS consider this "purchase" as a donation from this company? I do know that they are planning on reselling the tickets they purchased.
Thank you!
Margie