University at Albany
 

GDAC Tax Information

Values of Membership Benefits:

For federal income tax purposes, your charitable deduction is limited to the excess, if any, of your contribution over the value of the goods or services provided to you by the Great Dane Athletic Club. Token (or de minimis) items such as thank-you packets, magnets, etc. do not affect your deductibility status. Other benefits received in consideration for donations can further reduce deductibility and are listed below.

Note: Preferred Seating Fund contributions are not tax deductible for income tax purposes. Following the passage of the Tax Cuts & Jobs Act (“Tax Reform Act”), changes were made to IRC 170(I) eliminating the 80% charitable deduction previously allowed. You are encouraged to consult your tax adviser for applicability of IRS regulations.

Fair Market Value of GDAC Benefits:

  • Complimentary Football Parking - $10 per game (per vehicle)
  • Complimentary Men’s Basketball Parking - $10 per game (per vehicle)
  • Courtside Corner Hospitality – $10 per person per game
  • All Sport Access Pass - $7 per person per game
  • Premium Apparel Item - $25 per item