Membership Benefits & Tax Information
By receiving event invitations, parking privileges, and other tangible benefits to my Spider Club Web Level, the tax deductibility will reduce by their value. See box below. By earning Spider Points, your tax deductibility is further limited up to 80% of the amount that would otherwise be deductable.
|Estimated Benefit Value and Tax Information|
|Web Level||Estimated Benefit Value|
Written verification of gifts received in a fiscal year is sent to each donor. As a result of your contribution to the Spider Club (the fundraising arm of the athletic department) of the University of Richmond, a 501 (c) (3) organization, you have the right to purchase premium tickets to athletic events. Therefore, the amount of your contribution after subtracting any of the valued benefits is 80% deductible (see IRS Code Section 107 ). The University's fiscal year runs from July 1, 2012 to June 30, 2013.