6 Pages Posted: 10 Oct 2011
Date Written: October 10, 2011
This article considers the tax consequences of a booster's contribution to a college athletics program, using the case study of financier Robert Burton's multi-million dollar contribution to the University of Connecticut football program. This article discusses the income and gift tax issues that arise in connection with gifts made in contemplation of corresponding benefits, as well as the potential tax consequences if a donor subsequently withdraws a gift. Donors who expect a role in a team's affairs may face unfavorable tax consequences.
Keywords: gift, income, tax, deduction, athletics, sports, Burton, UConn, Connecticut, Huskies
JEL Classification: K1, K34
Suggested Citation: Suggested Citation
Lipp, Troy and Crawford, Bridget J., Donating to College Athletics: A Taxing Gesture of Kindness (October 10, 2011). Tax Notes, Vol. 133, No. 2, 2011. Available at SSRN: https://ssrn.com/abstract=1941890