Making a Large Lump-Sum Donation

#26
#26
Just to echo the good information posted earlier. You used to be able to donate to academic departments and get gift credit towards tickets. We did just that because we wanted the academic departments themselves to get the money.

This all changed when Hamilton made a power grab for all of that cash. Now everything has to go through the athletic department and they out of the graciousness of their heart might give some to academics - but you don't get any say in that. It all goes in the Big Pool 'O Cash and only the athletic department decides what to do with it.

We cancelled our football tickets because of this. This was a big hook for people to give directly to non-athletic causes and get ticket credit. These programs get a mere pittance of what the AD gets and often times a small donation means so much more.

I'm all for the AD making it's share, but don't penalize the academic side of the house just for your greed. This only underscores what most people already know - the athletic department is a part of the University in name only.
 
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#27
#27
golfballs said:
That's what I want to know.

Any ballpark figures?
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If you give enough for a building to change its name to "golfballs Hall", you'd probably get free tickets for a good while. golfballs Hall has quite a ring to it, no? :)
 
#28
#28
ReadCT said:
Rules changed a couple years ago. Used to get credit towards athletics for donations to academic departments. Not so any longer.

I learned this the year my G10 parking pass was not renewed because I had donated to Chemistry Department instead of Tennessee Fund.
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So you can't get tix regardless of how much you donate to an academic department?
 
#29
#29
FearlessFreep said:
Just to echo the good information posted earlier. You used to be able to donate to academic departments and get gift credit towards tickets. We did just that because we wanted the academic departments themselves to get the money.

This all changed when Hamilton made a power grab for all of that cash.

But someone had to give Hamilton the go ahead. Personally I think it's shameful to place academics second to football.
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#30
#30
utfantilidie said:
FearlessFreep said:
Just to echo the good information posted earlier. You used to be able to donate to academic departments and get gift credit towards tickets. We did just that because we wanted the academic departments themselves to get the money.

This all changed when Hamilton made a power grab for all of that cash.

But someone had to give Hamilton the go ahead. Personally I think it's shameful to place academics second to football.
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I wouldn't say his name here but his iinitials are Jimmy Cheek. Worse hire by the system than Kiffin.
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#31
#31
Be very careful, I know someone that is an elderly lady that
donated an inherited house from a relative to the academic side and the next year they acted like they did not know her. Spend the money on family and friends and have a good time. If not a million + you are not important.
Sorry, just the way it is.
 
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#33
#33
FearlessFreep said:
Just to echo the good information posted earlier. You used to be able to donate to academic departments and get gift credit towards tickets. We did just that because we wanted the academic departments themselves to get the money.

This all changed when Hamilton made a power grab for all of that cash. Now everything has to go through the athletic department and they out of the graciousness of their heart might give some to academics - but you don't get any say in that. It all goes in the Big Pool 'O Cash and only the athletic department decides what to do with it.

We cancelled our football tickets because of this. This was a big hook for people to give directly to non-athletic causes and get ticket credit. These programs get a mere pittance of what the AD gets and often times a small donation means so much more.

I'm all for the AD making it's share, but don't penalize the academic side of the house just for your greed. This only underscores what most people already know - the athletic department is a part of the University in name only.
Click to expand...


Don't hate on Hammy. It takes lots of money to build new buildings (football facility), renovate old facilities (Neyland Stadium), and tear down old institutions (our football program).
 
#35
#35
TruthGeneral said:
Be very careful, I know someone that is an elderly lady that
donated an inherited house from a relative to the academic side and the next year they acted like they did not know her. Spend the money on family and friends and have a good time. If not a million + you are not important.
Sorry, just the way it is.
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I know nothing about it, but this sounds 100% accurate.
 
#36
#36
UT should make a large lump-sum donation to me for the liver transplant I'll need in 20 years from attending their little school on the hill.
 
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#37
#37
If you really want to help, buy something a particular department will find useful and donate it.... say like a Nikon D4 & a 300mm lens for the UTAD photo department.:)
 
#39
#39
BruinVol said:
I understand the value of the tickets being deducted but why isn't 100% of the remaining donation a tax deduction?
Posted via VolNation Mobile
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IRS rules. I think because you derive a benefit from the donation only 80% is eligible. benefit is opportunity to buy tickets and the other perks you get.

I think that is what drives it
 
#40
#40
LWSVOL said:
IRS rules. I think because you derive a benefit from the donation only 80% is eligible. benefit is opportunity to buy tickets and the other perks you get.

I think that is what drives it
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Thanks. Just Doesn't seem fair if a donor donates 100K getting 5K worth of benefits but can only claim 80K instead of a 95k deduction. Then again its the IRS.
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#41
#41
hear i am The United Otis Fund.Help the needie,buy a lunch,if u call in the next 15 mints u could get a 6 pack for Otis...Main thing we all need...have a nice day..
 
#42
#42
I love to see a donation to the academic areas of the school. Very nice! we need more of that going on. If I wasn't struggling to get bills paid it would be nice to do something like this.. here's to hoping I am in a position to do this at some point in my life :)
 
#43
#43
BruinVol said:
I understand the value of the tickets being deducted but why isn't 100% of the remaining donation a tax deduction?
Posted via VolNation Mobile
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No, 80% of the TOTAL DONATION. You pay for the tickets.....if you donate $1000 for a 2 seat "license" you can deduct $800.

Edit: Sorry, this was already posted.
 
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#44
#44
BruinVol said:
Thanks. Just Doesn't seem fair if a donor donates 100K getting 5K worth of benefits but can only claim 80K instead of a 95k deduction. Then again its the IRS.
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Don't think that the guys giving 100k a year and doing it for tickets......
 
#45
#45
TNGlen said:
Don't think that the guys giving 100k a year and doing it for tickets......
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Agreed. My uncle is a big doner. He couldn't tell you where his tickets are outside of his suite. He has a torch fund for the MBA program and donates a lot to football. He said he gets a call weekly to donate more to the football facilities.
 
#49
#49
when they charge $80 for certain games, it's really hard to justify "donating" them even more money
 
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