DART Preferred Seat Contributions (PSC) and Preferred Seat Donations (PSD)
Owner: OUD-Integrated Data Services
Definitions
Preferred Seat Contributions - Select season ticket holders are required to make an annual seat contribution to keep their current seats, depending on seat location (approximately 30% of the stadium). Donation levels vary between $125 and $2,000 per year based on seat location. This program also allows season ticket holders to improve their seats.
In accordance with IRS tax laws, PSCs are not tax-deductible and are not considered charitable giving. This changed around 2018; before that, 80% of the contribution was tax-deductible (then referred to as “preferred seat donations”).
Preferred Seat Donations - Select season ticket holders require an annual seat donation to keep their current seats, depending on where the seats are located (only 30% of the stadium). Donation levels vary between $125-$500/yr based on seat location. It allows for season ticket fans to improve their seats however per current IRS tax rules, only 80% of the seat donation to public universities qualifies for tax credit (since donors are receiving a benefit back for their donation). It’s the #1 complaint among donors.
Per IRS tax laws, PSD are now not accepted at the University of Michigan as none of the ‘gift’ is now tax-deducatable.
NOTE: The Total Revenue Receipt Amount is for the entirety of the gift and is not used at the designation level.
NOTE: UofM Business Practices are that gifts with a premium value (such as the Preferred Seat Donations) are NOT allowed to be split.
Warning: Summing this value can result in inaccurate reports (by inflating the total).
PSCs/PSDs & Development Counting Methods
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Counting Oh Method
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Includes PSC?
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Includes PSD?
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Look to Michigan Campaign Production
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Yes
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No
|
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Victors for Michigan Campaign Production
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No
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Yes
|
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Production
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No
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Yes
|
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Cash (Payments Received)
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No
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Yes
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Lifetime Recognition (MProfile)
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Yes
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Yes
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Look to Michigan Campaign Recognition
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Yes
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No
|
|
Victors for Michigan Campaign Recognition
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No
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Yes
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PSCs in DART
PSCs are tracked in DART with:
Revenue Application Type: Other
Revenue Application: Other
Revenue Transaction Type: Payment
PSC Reporting
PSC Gifts should be pulled based on designations
Designation List: PSC & PSD Funds
PSDs in DART
PSDs are tracked in DART with:
Revenue Application Type: Gift
Revenue Application: Donation
Revenue Transaction Type: Payment
PSD Reporting
PSC Gifts should be pulled based on designations
Designation List: PSC & PSD Funds