Disclaimer: The following information is not intended to constitute legal advice or other tax counsel and may not be relied on as such. Please consult a personal tax advisor concerning the deductibility of any contribution to the Seawolf Athletic Association.
Internal Revenue Code Section 170(l) states that a donor is only entitled to deduct 80% of a charitable contribution to an institution such as the University of Alaska Anchorage when such contribution entitles the taxpayer to “…the right to purchase tickets for seating at an athletic event in an athletic stadium of such institution.” This would include the minimum donation or seating obligation for season ticket holders.
Please consult your tax advisor to determine how this provision relates to your specific contributions. For assistance, please refer your tax advisor to Internal Revenue Code Section 170(l), IRC Section 6115, TAM 200004001 and IRS Publication 526.