Benefits/ Tax Information
IMPORTANT NOTE: New federal tax law was passed at the end of 2017 which eliminated the 80% tax deductibility for gifts which qualify donors for priority/preferred seating.
Therefore, beginning January 1, 2018, the University will offer a “Spider Club Benefits (not tax-deductible)” designation that qualifies the giver to any and all tangible Spider Club benefits, including Spider Points, the right to purchase priority season tickets for athletics events, and other tangible benefits and is therefore NOT tax deductible.
The University will also offer a “Spider Club Gift (all benefits declined/tax-deductible to the extent allowed by law)” designation which is tax-deductible to the extent allowed by law for donors but which bestows none of the tangible benefits outlined below, with the exception of the Spider Club Window decal. Please consult your tax advisor about the deductibility of your gifts.
The Web Levels listed will be used to determine membership benefits for the 2018-2019 Spider Athletic season. These Web Levels will correspond to gifts made during the prior fiscal year to the Spider Club designation received on or before December 31, 2017 and to the Spider Club Benefits (not tax-deductible) designation received between January 1, 2018, and June 30, 2018.
Please note that Web Levels and corresponding membership benefits are subject to change at any time. Additionally, due to parking lot capacity, parking access for both football and basketball will be determined by annual donor giving levels and Spider Points.
2017 Tax Information (applicable for giving received by the university on or before December 31, 2017 – please see note at top of page)
The Spider Club is part of the University of Richmond, a 501(c)(3) organization. Spider Club conducts athletic fundraising activities on behalf of the University. Written verification of gifts made to the Spider Club will be sent to each donor.
Please be aware that by receiving tangible benefits according to Spider Club Web Levels for gifts made on or before December 31, 2017, tax deductibility reduces by the fair market value of any benefits received. By earning Spider Points for athletics designations, tax deductibility is further limited up to 80% of the amount that would otherwise be deductible (see IRS Code Section 170). Please consult your tax advisor about deductibility.
|
SAF |
Fair Market Value |
| Founder's | $270 |
| AD's Circle | $270 |
| Gold | $245 |
| Silver | $225 |
| Rector's | $150 |
| Richmond | $75 |
| Blue | $50 |
| Red | $0 |
2018 Tax Information (applicable for giving received by the university on or after January 1, 2018 – please see note at top of page)
Gifts made to the Spider Club Gift (all benefits declined/tax-deductible to the extent allowed by law) designation on or after January 1, 2018 do not bestow to the donor tangible benefits beyond a Spider Club Window decal issued to donors annually giving $100 or more and are therefore tax-deductible to the extent allowed by law. Please consult your tax advisor.
Gifts made to the Spider Club Benefits (not tax-deductible) designation qualify the giver to any and all tangible benefits including Spider Points, the right to purchase priority season tickets for athletics events, and other tangible benefits and are therefore NOT tax-deductible. Please consult your tax advisor.
For questions about your Spider Club benefits, please contact Allison Vogler, '78, Spider Club Director, at (804) 287-6341 or avogler@richmond.edu.