Victors Club/UM Giving

http://www.mgoblue.com/victorsclub/donate.html

Hey all,

I thought I would post this link for a few reasons. With regard to the recent band discussions, joining the Victors Club, and UM football donations, you can donate and make difference. I find it to be very rewarding in many ways. It's an easy way for me to give back to something I love every Saturday in the fall. For those fortunate enough to have a little extra money to donate; the link above allows you to do just that. Today, I donated to the Michigan Marching Band (MMB) for the first time in a while. I have been giving solely to the football program and I have neglected the MMB.

Aside from helping the football program, facilities, the MMB, and other sports, there are some extra benfits you will receive by donating. Your status for obtaining season tickets, away games, bowl games, priority seating are all elevated by joing the Victors Club and donating. Here's an example: a $500 donation should get you 2 season tickets in the end zone. An extra $100 a month will really start to elevate your status for the extra benfits above. I hope this helps. Oh, if you decide to donate make sure sign up as a Victor's Club member first. That way you get credit for your donation if you want it.

Go Blue!

I hate to ask this again....

But what are the tax implications for donating? How much can be written off?

Sorry for asking this again, just want to make sure I have it right.

Thanks

Admin wrote:

I hate to ask this again....

But what are the tax implications for donating? How much can be written off?

Sorry for asking this again, just want to make sure I have it right.

Thanks

Well, considering my employer, I guess the onus is on me to answer. In a word, NO.
The Victors' Club would be classed as a "non-qualified" organization, and thus it does
not qualify as a "charitable" contribution and is non-deductible.

See the attached; the V-club would be classified as "Social or Civic" under point 3
(under the title of non-qualified org's).


http://www.irs.gov/publications/p526/ar02.html#en_US_2011_publink1000229693

(By that same token, OSU boosters would not be allowed to deduct any contributions to
any of their clubs, as they all fall under point 4, right below ours...)

nm

You are actually donating to the Univ of Mich and you can write off 80%.