Reminder: May 15th Deadlines

[Eric_Soncrant]

Just a reminder that Tuesday, May 15th is a deadline for two very important things.

First, it is the deadline to make your annual Bulls Club gift. We certainly appreciate all of your support. You can make your gift online at www.MyBullsClub.com. If you have difficulty with our online system, please call the Bulls Club offices.

Secondly, it is the deadline to opt in for 2013 men's or women's basketball season tickets. If you don't opt in by May 15th, you will not be a part of the initial reseating process. Even if you are just considering buying 2013 men's or women's basketball season tickets, you should opt in. There is no obligation to purchase until it comes time to select seats. More information on the reseating can be found at www.MyBullsClub.com or in the thread currently being discussed on this board.

Thanks again everyone. Go Bulls!

Eric

[Triple B]

Please stop pushing this until I get my seats selected. Thanks in advance for your cooperation with this matter.

[BullFan98]

Is the Bulls Club gift a charitable donation for IRS purposes?

[KB]

Is the Bulls Club gift a charitable donation for IRS purposes?

http://bullsclub.dev.bayshoresolutions.com/benefits-of-giving/important-tax-information.aspx

Important Tax Information

Section 170(l) of the Internal Revenue Code provides that gifts which provide the taxpayer “the right to purchase tickets for seating at an athletic event in an athletic stadium†are deductible at the rate of 80 percent of the gift. The fair market value of seating benefits, upon which the non-deductible portion of the gift is determined, is based on the minimum required gift to purchase seats in a given section. Because the maximum donation required for the most prominent seating is $10,000 (annually), the portion of a gift that exceeds that threshold should be deductible at the rate of 100 percent. As a result, the non-deductible portion of a gift in excess of $10,000 will generally not exceed $2,000. A donor may decline seating priority benefits in writing in order to preserve 100% deductibility of gifts.

Coaches Clubs. Gifts to the Coaches’ Club Programs are not associated with seating priority and therefore are generally fully deductible.

Green Jackets. The blazer provided to first-time donors at the Green Jacket level and above has a market value of $150. Therefore, in the year in which a green jacket certificate is provided, an additional $150 will be reduced from the deductible portion of the gift.

Auction Purchases. Items secured by bid or purchase at events are considered purchases, not gifts, and do not earn Priority Points or contribute to your Bulls Club annual or cumulative giving totals. Unless otherwise noted, according to IRS rules, the bid amount establishes the Fair Market Value. The USF Foundation. The USF Foundation is established by Florida Statutes as the entity charged with receiving, managing and distributing all charitable gifts to the University of South Florida or any of its constituent units, including athletics. All gifts to athletics should be made payable to the USF Foundation. The Foundation is a 501©(3) organization.

The above information is provided as a courtesy to assist donors in researching questions about tax deductibility with respect to athletics giving, and does not constitute professional advice or opinion. As always, we strongly encourage you to discuss any questions about the tax deductibility of gifts with your professional advisors.

[BullFan98]

Thanks KB

[Skingraft]

Great tax deduction..... PPL are going to spend it anyway, why not get something for your money...

[Bull Martin]

Thanks for the reminder