Attention POSSE members:
We would like to inform you about impending legislation that could affect you as a POSSE member and season ticket holder.
As you know, current tax law allows seat-related donations to be 80 percent deductible for tax purposes. Recently, the House and Senate passed versions of a new tax bill that would repeal this deduction. Should this new legislation pass, seat-related donations will no longer be deductible in 2018.
Donor seating contributions, like yours, are one of the largest sources of revenue for OSU’s athletic budget. With impending changes, we want to offer our loyal and true supporters an opportunity to make future donor seating contributions in 2017 while the tax rules are more favorable. Your ongoing support enables us to continue to compete at the highest levels of intercollegiate athletics, recruit the best student-athletes and provide educational and athletic opportunities to help realize their dreams.
We appreciate the unwavering loyalty of our fans and hope you will continue to support OSU Athletics. We encourage you to consult with your personal tax adviser to determine if this opportunity is of value to you.
IMPORTANT YEAR-END GIVING INFORMATION
If you are considering or plan to donate before the end of 2017, there are some key dates and factors to keep in mind …
OSU Athletics will be open to accept donations over the holidays in person at the Gallagher-Iba Arena Athletic Ticket Office or via phone at 877-255-4678. Holiday hours are 8:00 am to 2:00 pm on Friday, Dec. 22 and noon to 5:00 pm from Dec. 26-29. If you would like to make a gift outside of normal business hours, please log into your Athletics Account Manager.
The main POSSE office will be closed for the holidays from Friday, Dec. 22 through Monday, Jan. 1.
You may also visit the OSU Foundation’s web page at osugiving.com or call 800-622-4678 no later than NOON on Friday, December 29, 2017.
Gifts Made by Check: The IRS states that the U.S. Postal Service postmark date serves as the official gift date for donations made by check and sent through U.S. Mail. Therefore, the gift will be credited in 2017 so long as both postmark and check are dated no later than Saturday, December 30, 2017. Please note that the IRS does not give the same treatment for postmarks provided on deliveries made by carriers such as Federal Express, UPS, etc.
Gifts Made by Credit Card: A gift by credit card is complete on the day the card is charged. The gift is deductible in the year the charge is made. If you call or send directions in a letter to charge a credit card in an envelope postmarked in 2017, but the university is not able to process the charge until after the first of the year, this gift is not considered deductible in 2017.
Stock Gifts: Gifts of securities are credited on the day they are received in the OSU Foundation brokerage account. To make a gift of stock, please contact Brandy Huston at 405-385-5111 or email bhuston@OSUgiving.com.
A contribution to OSU Athletics is truly a gift that keeps on giving all season long. Thank you for investing in the continued success of our student-athletes.