I was wondering why Rice does not do what other universities do for fund raising for the athletic department by what is called seat purchase or seat leasing. You pay a fee to rent a seat for football, baseball, or basketball and the fee you pay includes the donation plus the tickets for that particular sport. You can deduct 80% of this total cost as a tax deduction. This includes suits also. About 20% - 30% of Alabama and Texas athletic budget it from this "seat leasing". It sounds like a great way to raise money for athletics.

(12-10-2015 08:47 PM)OldOwl Wrote:  I was wondering why Rice does not do what other universities do for fund raising for the athletic department by what is called seat purchase or seat leasing. You pay a fee to rent a seat for football, baseball, or basketball and the fee you pay includes the donation plus the tickets for that particular sport. You can deduct 80% of this total cost as a tax deduction. This includes suits also. About 20% - 30% of Alabama and Texas athletic budget it from this "seat leasing". It sounds like a great way to raise money for athletics.

They have a shortage of seats.

I would gladly do it if I can get the deduction.

(12-10-2015 09:05 PM)cr11owl Wrote:  

(12-10-2015 08:47 PM)OldOwl Wrote:  I was wondering why Rice does not do what other universities do for fund raising for the athletic department by what is called seat purchase or seat leasing. You pay a fee to rent a seat for football, baseball, or basketball and the fee you pay includes the donation plus the tickets for that particular sport. You can deduct 80% of this total cost as a tax deduction. This includes suits also. About 20% - 30% of Alabama and Texas athletic budget it from this "seat leasing". It sounds like a great way to raise money for athletics.

They have a shortage of seats.

There's a minimum Owl Club donation for the chair back seats at football, basketball and baseball. Isn't that the same thing?

I thought it worked a bit differently?

You paid for the 'right' to purchase a (season) ticket. This right is refundable, but isn't transferable. The University/Athletic Fund doesn't pick up that amount as revenue and you don't receive a tax deduction. So its basically a interest free loan.

Unfortunately it only works where there's a high demand for tickets. You'd raise more money having a four square tournament on the landings at Sid Rich, but only if you invited alumni. (I'm not sure alumnae have any history in this sport.).

(12-11-2015 07:31 AM)MerseyOwl Wrote:  I thought it worked a bit differently?

You paid for the 'right' to purchase a (season) ticket. This right is refundable, but isn't transferable. The University/Athletic Fund doesn't pick up that amount as revenue and you don't receive a tax deduction. So its basically a interest free loan.

Unfortunately it only works where there's a high demand for tickets. You'd raise more money having a four square tournament on the landings at Sid Rich, but only if you invited alumni. (I'm not sure alumnae have any history in this sport.).

For UTexas tickets, you must be a member of the Longhorn Foundation (similar to Owl Club) to guarantee season ticket availability and maintain your same seats on a year-to-year basis. The minimum level of donation required per ticket varies based on the ticket location and can range from a few hundred dollars per ticket to a few thousand dollars per ticket.

There are a number of season ticket holders who have grandfathered pricing on Longhorn Foundation dues at lower costs. For those members, UTexas has restricted the ability to resell tickets at prices above face value on aftermarket sites like Stubhub. If you are caught reselling tickets, the university reserves teh right to bring your Longhorn Foundation dues to current levels (effective immediately and for ongoing season ticket purchases), or in a worst case scenario they can revoke your season tickets.

You can purchase season tickets without a donation, but you not guaranteed location or availability.

I believe Michigan and many of the B1G schools have the same policies in place.

This is 80% tax deductible too as I understand, called a seat donation?

(12-11-2015 01:26 PM)mbrindley Wrote:  

(12-11-2015 07:31 AM)MerseyOwl Wrote:  I thought it worked a bit differently?

You paid for the 'right' to purchase a (season) ticket. This right is refundable, but isn't transferable. The University/Athletic Fund doesn't pick up that amount as revenue and you don't receive a tax deduction. So its basically a interest free loan.

Unfortunately it only works where there's a high demand for tickets. You'd raise more money having a four square tournament on the landings at Sid Rich, but only if you invited alumni. (I'm not sure alumnae have any history in this sport.).

For UTexas tickets, you must be a member of the Longhorn Foundation (similar to Owl Club) to guarantee season ticket availability and maintain your same seats on a year-to-year basis. The minimum level of donation required per ticket varies based on the ticket location and can range from a few hundred dollars per ticket to a few thousand dollars per ticket.

There are a number of season ticket holders who have grandfathered pricing on Longhorn Foundation dues at lower costs. For those members, UTexas has restricted the ability to resell tickets at prices above face value on aftermarket sites like Stubhub. If you are caught reselling tickets, the university reserves teh right to bring your Longhorn Foundation dues to current levels (effective immediately and for ongoing season ticket purchases), or in a worst case scenario they can revoke your season tickets.

You can purchase season tickets without a donation, but you not guaranteed location or availability.

I believe Michigan and many of the B1G schools have the same policies in place.

Correct. Ags use 12th Man Foundation the same way.

Sounds like a great funding method to use at Rice for all sports. I hope they try it.

So you're saying we should increase our bottom line like the pros by selling every seat twice?

No, as far as I know, you can only take a tax deduction for joining the Owl Club but not for the tickets. A "seat donation" you can take a 80% tax deduction for both joining the Owl Club and the tickets for the particular sport. This applies for suites also.

(12-12-2015 04:10 PM)Klobasnek Wrote:  So you're saying we should increase our bottom line like the pros by selling every seat twice?

(12-12-2015 04:28 PM)OldOwl Wrote:  No, as far as I know, you can only take a tax deduction for joining the Owl Club but not for the tickets. A "seat donation" you can take a 80% tax deduction for both joining the Owl Club and the tickets for the particular sport. This applies for suites also.

(12-12-2015 04:10 PM)Klobasnek Wrote:  So you're saying we should increase our bottom line like the pros by selling every seat twice?

Pretty sure you make the donation for the rights to buy the seat on top of that.

We already do that for the couple rows in front at Reckling.

Oh okay. Great. I didn't know about that. I wonder why it is not advertised more.

(12-12-2015 04:31 PM)cr11owl Wrote:  

(12-12-2015 04:28 PM)OldOwl Wrote:  No, as far as I know, you can only take a tax deduction for joining the Owl Club but not for the tickets. A "seat donation" you can take a 80% tax deduction for both joining the Owl Club and the tickets for the particular sport. This applies for suites also.

(12-12-2015 04:10 PM)Klobasnek Wrote:  So you're saying we should increase our bottom line like the pros by selling every seat twice?

Pretty sure you make the donation for the rights to buy the seat on top of that.

We already do that for the couple rows in front at Reckling.

(12-12-2015 04:36 PM)OldOwl Wrote:  Oh okay. Great. I didn't know about that. I wonder why it is not advertised more.

(12-12-2015 04:31 PM)cr11owl Wrote:  

(12-12-2015 04:28 PM)OldOwl Wrote:  No, as far as I know, you can only take a tax deduction for joining the Owl Club but not for the tickets. A "seat donation" you can take a 80% tax deduction for both joining the Owl Club and the tickets for the particular sport. This applies for suites also.

(12-12-2015 04:10 PM)Klobasnek Wrote:  So you're saying we should increase our bottom line like the pros by selling every seat twice?

Pretty sure you make the donation for the rights to buy the seat on top of that.

We already do that for the couple rows in front at Reckling.

When you go to buy baseball season tickets certain sections say "donation of XX dollars to the owl club required". I think the first 2 rows are one level and the rest of the lower section is another. I'm sure someone on here can fill that in but I'm not to that donation level yet.

(12-12-2015 04:31 PM)cr11owl Wrote:  

(12-12-2015 04:28 PM)OldOwl Wrote:  No, as far as I know, you can only take a tax deduction for joining the Owl Club but not for the tickets. A "seat donation" you can take a 80% tax deduction for both joining the Owl Club and the tickets for the particular sport. This applies for suites also.

(12-12-2015 04:10 PM)Klobasnek Wrote:  So you're saying we should increase our bottom line like the pros by selling every seat twice?

Pretty sure you make the donation for the rights to buy the seat on top of that.

We already do that for the couple rows in front at Reckling.

Also for many (all?) of the box seats for football games. There's a minimum Owl Club donation for the right to buy those seats.

(12-12-2015 04:31 PM)cr11owl Wrote:  

(12-12-2015 04:28 PM)OldOwl Wrote:  No, as far as I know, you can only take a tax deduction for joining the Owl Club but not for the tickets. A "seat donation" you can take a 80% tax deduction for both joining the Owl Club and the tickets for the particular sport. This applies for suites also.

(12-12-2015 04:10 PM)Klobasnek Wrote:  So you're saying we should increase our bottom line like the pros by selling every seat twice?

Pretty sure you make the donation for the rights to buy the seat on top of that.

We already do that for the couple rows in front at Reckling.

Yes, but it's a VERY nominal fee-- an extra $100 for the first two rows, bringing the total price of the season ticket to $375 (for this coming season).

(12-10-2015 08:47 PM)OldOwl Wrote:  I was wondering why Rice does not do what other universities do for fund raising for the athletic department by what is called seat purchase or seat leasing. You pay a fee to rent a seat for football, baseball, or basketball and the fee you pay includes the donation plus the tickets for that particular sport. You can deduct 80% of this total cost as a tax deduction. This includes suits also. About 20% - 30% of Alabama and Texas athletic budget it from this "seat leasing". It sounds like a great way to raise money for athletics.

Can't you just accomplish the same thing yourself? Buy the tickets, make a donation on top of that cost, deduct the donation?

(12-12-2015 07:05 PM)waltgreenberg Wrote:  

(12-12-2015 04:31 PM)cr11owl Wrote:  

(12-12-2015 04:28 PM)OldOwl Wrote:  No, as far as I know, you can only take a tax deduction for joining the Owl Club but not for the tickets. A "seat donation" you can take a 80% tax deduction for both joining the Owl Club and the tickets for the particular sport. This applies for suites also.

(12-12-2015 04:10 PM)Klobasnek Wrote:  So you're saying we should increase our bottom line like the pros by selling every seat twice?

Pretty sure you make the donation for the rights to buy the seat on top of that.

We already do that for the couple rows in front at Reckling.

Yes, but it's a VERY nominal fee-- an extra $100 for the first two rows, bringing the total price of the season ticket to $375 (for this coming season).

I'm pretty sure the website says you have to be to at least a $2500 donor to the Owl Club and then pay $375 per ticket for the first couple rows. Both fees decrease as you get to lesser premium seating.

Its really about the same thing as the bigger schools...except we don't have nearly as many fans.

(12-11-2015 02:00 PM)OldOwl Wrote:  This is 80% tax deductible too as I understand, called a seat donation?

(12-11-2015 01:26 PM)mbrindley Wrote:  

(12-11-2015 07:31 AM)MerseyOwl Wrote:  I thought it worked a bit differently?

You paid for the 'right' to purchase a (season) ticket. This right is refundable, but isn't transferable. The University/Athletic Fund doesn't pick up that amount as revenue and you don't receive a tax deduction. So its basically a interest free loan.

Unfortunately it only works where there's a high demand for tickets. You'd raise more money having a four square tournament on the landings at Sid Rich, but only if you invited alumni. (I'm not sure alumnae have any history in this sport.).

For UTexas tickets, you must be a member of the Longhorn Foundation (similar to Owl Club) to guarantee season ticket availability and maintain your same seats on a year-to-year basis. The minimum level of donation required per ticket varies based on the ticket location and can range from a few hundred dollars per ticket to a few thousand dollars per ticket.

There are a number of season ticket holders who have grandfathered pricing on Longhorn Foundation dues at lower costs. For those members, UTexas has restricted the ability to resell tickets at prices above face value on aftermarket sites like Stubhub. If you are caught reselling tickets, the university reserves teh right to bring your Longhorn Foundation dues to current levels (effective immediately and for ongoing season ticket purchases), or in a worst case scenario they can revoke your season tickets.

You can purchase season tickets without a donation, but you not guaranteed location or availability.

I believe Michigan and many of the B1G schools have the same policies in place.

It is not called a seat donation. It's called Longhorn Foundation Dues. I believe it's 60% tax deductible, but could be 80%.

(12-12-2015 04:31 PM)cr11owl Wrote:  

(12-12-2015 04:28 PM)OldOwl Wrote:  No, as far as I know, you can only take a tax deduction for joining the Owl Club but not for the tickets. A "seat donation" you can take a 80% tax deduction for both joining the Owl Club and the tickets for the particular sport. This applies for suites also.

(12-12-2015 04:10 PM)Klobasnek Wrote:  So you're saying we should increase our bottom line like the pros by selling every seat twice?

Pretty sure you make the donation for the rights to buy the seat on top of that.

We already do that for the couple rows in front at Reckling.

Can't say anything about the Owl Club, but for UTexas, your contribution to the Longhorn Foundation gets you priority to better seats or the ability to maintain the same seats year over year. It also guarantees you will get seats if they happen to sell out season tickets.

Like I said earlier, you can buy season tickets without paying foundation dues, but you aren't guaranteed where they will be.