Tax Information

The UM Foundation & Grizzly Scholarship Association (GSA) are recognized by the Internal Revenue Service as a tax exempt 501c3 organization, and contributions to the UM Foundation or GSA are deductible for federal income tax purposes to the extent allowable by law. We do ask that you consult your tax advisor for further information about the tax implications for your contributions.

Season Ticket & Priority Seating Donations

GSA season ticket holders in football, men’s basketball, Lady Griz basketball and softball, are entitled to receive priority seating. The cost of a donor’s priority seating required donation is not tax deductible for federal income tax purposes.

2018 Tax Law Change

Prior to January 1, 2018, a donor was permitted to claim their priority seating required donation up to 80 percent of the amount paid in priority seating to the GSA at any Grizzly Athletics event. Under the new federal tax law that went into effect on January 1, 2018 you are no longer allowed to claim any priority seating required donation. All donors have the right to wave all benefits when making a new gift to the UM Foundation or GSA, except for GSA priority seating required donations. If waived, the gift is tax-deductible up to 100% or the level permitted by law. Please note that this information is not intended as tax advice.

Matching Gifts, Sports Specific Funds, and IRA Payments cannot be used towards your GSA priority seating required donations.

Other Benefits

The Internal Revenue Code also addressed other benefits (other than priority seating required donations) that a donor may receive as a result of their donation to the GSA or Grizzly Athletics. A donor may only deduct the amount of that is more than the value of other benefits received. Items such as newsletters, car decals, and other token items do not reduce the amount eligible for deduction for tax purposes. However, other items or services a donor receives in consideration for a contribution (i.e. discounts, jacket, meals, team travel, etc.) may reduce a donor’s eligible deduction. The UM Foundation will inform you of the estimated fair market value of any goods or services that you are provided in exchange for your contributions.

Questions?

For questions, please contact the Grizzly Scholarship Association at 406.243.6481or gsa@mso.umt.edu