There are substantial tax benefits associated with leasing premium seating. The annual financial commitment to lease these opportunities contains both a taxable portion (for the cost of goods and services provided, amenities such as game tickets, parking, catering, etc.) and a tax-deductible charitable gift. According to current IRS regulations, after the taxable portion is subtracted from each annual commitment, 80% of the remaining portion is a tax-deductible charitable gift. The value of goods/services received will be calculated annually and provided by the University of Illinois. Consult your tax advisor to learn how the IRS guidelines relate to your specific situation.
|Premium Seating||Luxury Suite||Courtside Seats
|Loge Seats||Traditions Club||Traditions Club Concourse Level||Legacy Club|
|No. of Seats||14||2||2||4||2||2||2|
|Lease Term||15 years||12 years||12 years||10 years||10 years||10 years||5 years|
|Less Value Received*||$15,000||$2,000||$2,000||$4,000||$1,300||$1,200||$1,200|
|Charitable Deduction Rate||80%||80%||80%||80%||80%||80%||80%|
|Annual Premium Charitable Contribution||$40,000||$14,400||$6,400||$7,200||$2,960||$2,240||$1,440|
* Prices reflect annual commitments due each year by June 1. After establishing a campaign gift commitment, the first annual lease payment is due June 1, 2015. Prices will increase every commitment year by 2.5%. Discounts for prepayment of entire contract term are available. An annual I FUND commitment is required of all Founders Suite patrons for the life of their contract. By maintaining an I FUND account, Founders Suite patrons will have the opportunity to purchase special single-game tickets and receive an I FUND season parking pass. Single-game tickets and the I FUND parking pass are allocated based on I FUND club level and priority point totals. The minimum required I FUND membership for the Founders Suite is the Loyalty Circle level.