Menu
Download the app

SBJ subscribers – Enhance your experience with the revamped iOS app

Collegiate Sports

SENDING OUT AN IRS: ATHLETIC DIRECTORS SEEK DONOR DEDUCTION

          A attorney for a group of "major collegiate" Athletic
     Directors wrote the IRS this week "seeking to resolve a
     battle that could have a big impact on college and
     university athletic programs," according to Tom Herman of
     the WALL STREET JOURNAL.  Caplin & Drysdale attorney
     Catherine Livingston, who represents the American Council on
     Education, said that at issue is "whether a taxpayer who
     gives money to an athletic program" can deduct the donation
     as a "charitable contribution" if the donor receives
     "priority rights to buy or lease skybox seats" in return. 
     Verner Liipfert attorney Philip Hochberg, who represents the
     Div. I-A Athletic Directors Association, said that an '88
     law "allows 80% of such contributions to be deductible." 
     But an IRS agent "argued that this provision doesn't apply
     when the donor gets skybox seating, rather than general
     admission."  Hochberg said "millions of dollars" of fund-
     raising "would be in serious trouble if the IRS were to deny
     the 80% charitable contribution deduction to donors who get
     priority for skybox seating."  Herman writes that the IRS
     "hasn't yet replied" (WALL STREET JOURNAL, 6/16).   
  

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Daily/Issues/1999/06/17/Collegiate-Sports/SENDING-OUT-AN-IRS-ATHLETIC-DIRECTORS-SEEK-DONOR-DEDUCTION.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Daily/Issues/1999/06/17/Collegiate-Sports/SENDING-OUT-AN-IRS-ATHLETIC-DIRECTORS-SEEK-DONOR-DEDUCTION.aspx

CLOSE