As we begin this new calendar year, we wanted to thank you for your investment as an Ahearn Fund member. Your support of K-State Athletics provides the necessary resources for more than 450 student athletes to succeed in the classroom and in competition.
On behalf of our Development and Ticketing teams, we wanted to make you aware of the new tax legislation that could impact any of our Ahearn Fund donors and our season ticket holders. As you may be aware, the U.S. House of Representatives and the U.S. Senate passed versions of the Tax Cuts and Job Acts in December that will directly affect your charitable contributions.
Prior to calendar year 2018, the IRS Code Section 170(I) allowed for 80% of a donation for seating at an athletic event to be tax deductible. If you refer to Section 1306 of the new tax plan, you will find that this deduction will no longer be permissible beginning January 1, 2018.
The Athletics Department is currently assessing the potential impact of the tax plan and evaluating plans for the coming years. Please note that seat contributions will still be required for selected seating areas for all our ticketed sports for the 2018-2019 seasons.
This legislation will not affect the deductibility of any gifts that do not receive ticket priority. Examples of these gifts that remain tax-deductible include but are not limited to:
- Ahearn Excellence Gifts (Contributions not tied to priority seating)
- Capital/Facility Gifts (Baseball-Soccer Campaign)
- Restricted Gifts (Golden Cats, Diamond Cats, etc.)
- Endowments and Scholarships
Please feel free to contact the Ahearn Fund office at (785) 532-5282 with any questions you may have. As we progress with the overall evaluation of the new tax bill, we will be sure to provide updates on how this affects our Ahearn Fund members.
Thank you again for your generous support of K-State Athletics and the Ahearn Fund!
Frequently Asked Questions
What will happen to the priority seating system going forward?
The priority seating system will not change for the 2018-2019 athletic year. Therefore, all donations will remain the same and be required for the 2018 football season, 2019 men’s and women’s basketball seasons, and 2019 baseball season. Our staff is currently looking at opportunities to adjust our current ticket and contribution structure for future years to better accommodate donors and we will communicate with Ahearn Fund Members if or when the concept is adjusted.
What happens if I donated for future years and then the priority seating system is changed?
We unfortunately cannot offer refunds for donations. As always, we will do our best to work with donors if any changes are made.
Are there any changes to donations that are not allocated toward seating or parking?
The recent changes only affect contributions associated with athletics tickets. All Ahearn Excellence donations remain tax deductible. However, we do encourage you to consult with your tax advisor.
Need your tax receipt?
Log on to the KSU Foundation’s website to print your tax receipts.