George Washington University

FREQUENTLY ASKED QUESTIONS

Q. Why is your donation so important to GW Athletics?

A. The cost of running a Division I Athletics Program is on the rise and providing resources to help our student-athletes and coaches achieve excellence in the classroom and in competition follows suit.  With 23 varsity programs, GW Athletics works to provide financial support for each of our 450 student-athletes.  Your donation will help us increase our annual revenue to assist GW Athletics today while recruiting the best and brightest student-athletes for tomorrow!

Q: Why the Buff & Blue Fund?

A: The Buff & Blue Fund allows GW Athletics to meet its goals of graduation, integrity and winning.  The Fund also allows GW to address the rising costs that are associated with competition at the Division I level.  Buff & Blue Fund gifts provide all GW student-athletes with uniforms, up to date training facilities and equipment, team travel, meals, the finest coaches, recruiting support, academic support programs and other essential components required to support all of GW teams and sports.

Q: How is the Buff & Blue Fund different from previous year donations to GW Athletics?

A: The Buff & Blue Fund serves as the department's annual fund, providing support for all 23 intercollegiate programs.  Similar to previous years, your donation impacts our 450 student-athletes.  In addition to the impact you have on GW student-athletes, the Buff & Blue Fund benefits you.  By donating $100 or more annually to the Buff & Blue Fund, you qualify for various benefits throughout the year.

See the Buff & Blue Fund Benefits Chart for further details.

Q: Are contributions to GW Athletics tax deductible?

A: The answer is both yes and no. The Internal Revenue Service (IRS) rules state that a donor cannot deduct the part of any contribution that represents the value of the benefit received. Therefore, if you opt in to hospitality and seating priority access, you will be able to deduct the amount of your contribution that is more than the value of the benefit you receive- Hospitality area benefits. Unfortunately, GW cannot provide tax advice to our donors, please check with your tax advisor as to how the rules apply to your circumstances and the allowable deduction.

Q: How will I know what I may deduct for this contribution?

A: You will receive a written acknowledgement of the contribution and a good faith estimate of the value of any goods and services provided or received in exchange for the contribution. The letter you receive from GW will state (i) the amount of the contribution, (ii) the value of any goods and services provided to you in exchange for the contribution, and (iii) the amount of the contribution that entitles the donor to the right to purchase tickets to athletic events. You or your tax advisor will be able to calculate your deduction based on the information in the letter.

Q: What is the definition of an annual gift?

A: Annual gifts are the sum total of gifts made to GW between July 1 through June 30.   

Q: When do donations need to be made in order to qualify for Buff & Blue Fund benefits?

A: Donor benefits will be received once the donation is made. 

Q: What do I need to do to be eligible to receive access to hospitality areas at Men's Basketball games?

A: To be eligible for the hospitality areas (Colonials Club and Champions Club), you must be a Men's Basketball season ticket holder.  Refer to the Buff & Blue Fund Benefits Chart to review the various donor levels and corresponding benefits.  Donations need to be made in full by August 24, 2012 to have access to hospitality areas.

Q: How can I purchase Men's and Women's Basketball, Volleyball and Gymnastics season tickets for the 2012-13 season?

A: Contact the Colonial Ticket Office at 202-994-7325 or www.GWSports.com/tickets to purchase season tickets. Men's Basketball Season tickets for 2012-13 will be offered first to Buff & Blue Fund donors according to their annual donation level.

Q: What is the impact of unrestricted giving?

A: Unrestricted giving allows the department to support all 23 teams by providing resources for leadership development, recruiting, team travel, equipment, and facility projects.  If you prefer to direct your gift to a specific program or project within GW Athletics, your donation will be eligible for Buff & Blue Fund Benefits.

Q: Can I give to the Buff & Blue Fund and still be a member of the Luther Rice Society?

A: Yes.  Any person whose gifts in GW's fiscal year (July 1- June 30) reach or eclipse $1,000 mark will be considered a member of the LRS.  Note that if you opt-in to receive Hospitality area access in the Champions Club, your donation will need to be $1,758 to count towards Luther Rice Society.  (Refer to Luther Rice Society website - http://www.lutherrice.gwu.edu/)

Q: Why should I increase my donation?

A: The impact your donation has on the 450 student-athletes will increase as your gift increases.  Additionally, you will receive additional access and information with increased annual giving.

Q: My company has a matching gift program. Will the company match be included in determining the level of benefits I'm eligible for?

A: Each company may set its own matching gift policies. Some companies prohibit matching any gifts to athletics programs, and many will not match gifts for which the employee receives more than incidental benefits. GW must comply with each company's policy in order to maintain eligibility for its matching gifts to all University programs. Please check with your company's matching gifts program (many companies make their policies available online). It is up to our donors to obtain the appropriate form from their HR department and to check here http://www.matchinggifts.com/gwu/ to see if your company will match your donation. If a donor's company does not permit the match to go towards athletics, the donor will receive benefits at the level of their personal donation to the Buff & Blue Fund.

Q: Why can't I opt in to hospitality and seating priority access if I make a contribution from my donor advised fund or family foundation?

A: When we receive distributions from donor advised funds and family foundations, they are accompanied by instructions that the individual on whose recommendation the contribution is made may not receive more than incidental benefits in return for the contribution. This condition is based on the Internal Revenue Code, and distributions in violation of this condition are subject to an excise tax of 125% on the donor.

Q: These rules seem complex. What should I do?

A: IRS rules regarding charitable contributions are very complex. Please share your acknowledgment letter with your tax advisor to fully discuss the deductibility of your contribution.