Frequently Asked Questions – Recently Passed Tax Legislation & TECH Fund

Feb. 21, 2018

How are TECH Fund gifts affected with the recently passed tax legislation?
Effective January 1, 2018, it is our understanding TECH Fund gifts will no longer be 80-percent tax deductible. However, the Alexander-Tharpe Fund and Georgia Tech athletics urge you to consult with your tax advisor for specific tax advice.

Will TECH Fund gifts still be required this year?
Yes. TECH Fund gifts will be required to purchase season tickets in applicable seating sections for the upcoming 2018 football season. It is expected that TECH Fund gifts will remain a requirement to purchase season tickets in applicable seating areas for all Georgia Tech sports that feature premium seating options.

If TECH Fund gifts will no longer be tax deductible, why are they not being removed/reduced?
The TECH Fund is the per-seat donation program that allows fans to purchase season tickets for preferred seating areas at Georgia Tech football, basketball and baseball games. TECH Fund donors enjoy access to the best areas in Bobby Dodd Stadium, McCamish Pavilion and Russ Chandler Stadium, as well as the benefits of being a season-ticket holder and donor to the Alexander-Tharpe Fund, including generating A-T Fund priority points. These gifts are essential to the mission of Georgia Tech athletics because they account for approximately $8.5 million annually, which provides critical resources in our quest to win championships and develop 350-plus Everyday Champion student-athletes – the young people who will change the world.

Will TECH Fund gifts be required in future years?
We will continue to assess the situation, analyzing the potential impacts on our constituents and the GTAA, before deciding how to move forward in future years. However, we remain committed to proactively communicating any changes or updates to our constituents.

What if I have already paid my TECH Fund for the 2018/19 season(s)? Will it be tax deductible?
The new legislation is effective January 1, 2018, therefore gifts made before December 31, 2018 would be deductible to the extent that they were under the previous legislation.

Are gifts to the Alexander-Tharpe Fund (A-T) still deductible?
Yes. The recent legislation only applies to the TECH Fund or other gifts to athletics that provide the right to buy a season ticket. Gifts/commitments to the Alexander-Tharpe Fund to any allocation where no goods or services are received are not affected. This includes gifts to the annual Athletic Scholarship Fund, gifts to endowments and facility gifts.

Note: Alexander-Tharpe Fund / GTAA staff members are not tax experts nor registered CPAs. In all cases, we ask that you consult a professional to assess implications of the new tax legislation on your personal situation.

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