In December 2017, Congress passed tax reform legislation effective 1/1/2018. It included wording that indicated gifts made to athletic booster organization for seat licenses were not considered tax deductible. The Wolfpack Club is operating in the following ways to comply with the law until an interpretation is provided by the IRS:
The Wolfpack Club cannot advise you on the tax deductibility of your gift, and we would strongly advise you to talk with your current tax advisor about the deductibility of any gifts you make. However, gifts made for Premium Seats, Lifetime Rights, and Annual Gifts required by a Lifetime Rights and/or Premium Seat contract apparently would not be considered charitable or philanthropic gifts in accordance with the new tax laws.
We encourage you to speak with the matching gift coordinator for your company to understand the company policies as they relate to matching gifts. Be aware that company policies can change at any time at the discretion of the company. Please remember that matching gift funds are not guaranteed funds. If you have benefitted in any way with the pledge of a matching gift, and the company decides not to render funds for the gift, the matching gift balance would become your responsibility.
For the most accurate information about an individual company, Wolfpack Club members are encouraged to contact a company's human resources department. You may also refer to http://www.matchinggifts.com/ncsu for further information. If you have questions, please contact Nick Rushing at 919-865-1496 or nick.rushing@wolfpackclub.com.
