How
to Contribute
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There are several
ways to become a donor to the Volunteer Athletic Scholarship
Fund. To obtain donor benefits, it is important to complete your
gift prior to MARCH 1 of each year. Here are
just a few of the ways to support the Vols.
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| Pledge |
| You may pledge
to join the VASF at a specific level and then pay the pledge in
installments, completing your pledge by March 1. Statements will
be sent periodically throughout the year reminding you of the March
1 deadline and the contribution the VASF office has received. |
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| Cash
Donations |
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Cash or checks
are always acceptable. Gifts are acknowledged by receipt from
The University of Tennessee and the Athletic Department. It is
important to complete your gift by MARCH 1 of
each year to obtain donor benefits. Make all checks payable to
The University of Tennessee.
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| Credit
Cards |
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The VASF and Athletic
Ticket Office accept Visa, MasterCard and Discover. It is important
to list the name of the cardholder, the account number and the expiration
date on the contribution card.
In order to obtain benefits, your gift must be completed by MARCH
1 of each year.
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| Bank
Drafts |
| By
joining the Vol Check-off program, you may have your bank account
drafted monthly. To sign up for this option, contact the VASF office. |
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| Matching
Gifts |
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Many companies
will match your gifts to The University of Tennessee. Please
consult the benefits office at your place of employment. You
may be able to double or triple the value of your gift and benefits.
Your initial gift and matching form must be in by MARCH 1, but
the matching gift may be completed throughout the year.
Many companies are not matching gifts if the donor receives any
benefit as a result of the gift. Please check with the VASF and
the matching company to be sure that the matching sum can be applied
to your donor benefits status. If the company chooses to cease
matching a donor's gift, the donor is responsible for the entire
annual contribution to maintain the same benefits.
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| Gifts
of Real Property and Securities |
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Gifts of real
property and securities are welcomed and may provide significant
tax advantages for donors. Appreciated stocks can be transferred
electronically which, in some circumstances, can enable donors
to realize significant capital gains tax savings while helping
the VASF provide essential scholarship support. Consult
your tax advisor for details and/or contact John Currie or Scott
Rabenold in the VASF office at (865) 974-1218. Benefits
of these gifts must be evaluated on an individual case basis.
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| Estate
Gifts |
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Gifts through
wills and bequests can provide you with benefits and the opportunity
to sustain your family name through endowed scholarships with
The University of Tennessee Athletic Department. Estate gifts
can be made with a designated amount, a real asset or a residual
bequest. Consult your attorney. The VASF can provide the appropriate
wording for inclusion in your planning. Benefits of these gifts
must be evaluated on an individual case basis. Contact
Scott Rabenold in the VASF office at (865) 9741218 for more information.
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| Endowments |
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To provide
funding for future Vol student-athletes, endowments are essential.
The opportunity to fully endow a scholarship with the Volunteers
exists at the $150,000 level and entitles you to membership in
the Nathan Dougherty Society. These gifts can be made over a
ten-year period in equal installments. The VASF office will provide
the appropriate agreements to complete the gift. Benefits of
these gifts must be evaluated on an individual case basis. Contact
Associate Athletic Director John Currie, Assistant Athletic Director
David Blackburn or Director of Capital Support Scott Rabenold
at (865) 974-1218 for more information.
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| Life
Income Gifts |
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Charitable
remainder trusts provide several advantages over cash, securities
or real property. They provide the donor with income for a designated
period of time or life. They provide the Athletic Department
with an endowed scholarship gift upon the completion of the trust
or donor's death. Possible tax advantages could exist. Call Associate
Athletic Director John Currie, Assistant Athletic Director David
Blackburn or Director of Capital Support Scott Rabenold at (865)
974-1218 for more information. You also are encouraged to consult
your tax advisor. Benefits of these gifts must be evaluated on
an individual case basis.
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| Tax
Information |
| Under applicable
provisions of the Internal Revenue Code (IRC), the amount of a
contribution that is deductible for federal income tax purposes
is limited to the excess of the amount contributed over the value
of any goods or services provided to the donor by the University.
The Athletic Department will notify you as to the value of any
such items. In addition, the IRC provides that 80 percent of an
amount paid to or for the benefit of an institution of higher education
shall be treated as a charitable contribution if, as a result of
the payment, the donor receives the right to purchase tickets for
seating at an athletic event in an athletic stadium at the institution.
Consult your tax advisor to determine whether these provisions
apply to you. In order to deduct 100 percent of your gift you must
waive, in writing, all benefits applicable to your VASF donation. |
