• The KillerFrogs

AGCS East Side Expansion Update - new website and revised renderings

Peacefrog

Peacefrog

Degenerate
Dogfrog said:
Sorry I missed that. A tax guy is certainly in order because it was my understanding that any contribution that is required for access to seats is not deductible but I’ve been wrong before.
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That’s why you don’t take priority points and designate the cost as a construction donation. Take the points and it’s for seats.
 
Dogfrog

Dogfrog

Active Member
Peacefrog said:
That’s why you don’t take priority points and designate the cost as a construction donation. Take the points and it’s for seats.
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What each individual does is between him and the IRS but the tax law doesnt mention priority points, only seats. Do you have access to the seats without the donation? I’m not qualified to comment but would definitely have a cpa sign off on it before proceeding.
 
TCUdirtbag

TCUdirtbag

Active Member
Gary's Shirtless Revenge said:
The Loge's were always expected to go first as they are catering to the 30 something grads who have enough money for club seats, not enough for a suite, but have friends they want to hang with. Perfect fit, not surprised they sold out.

The suites are going OK from what I have heard. That demand is lower than assumed but not by too much, they will get all those done... And they may already and just haven't finished contracts.

The demand for club seats is what has been most surprising to athletics from the folks I've talked too... Lots of people said they were interested but are balking at the relatively higher prices.
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Not surprised by any of this. They’ll eventually sell the seats but my first impression was that they overpriced everything. But if that’s what it costs to build it that’s what you have to do.
 
Peacefrog

Peacefrog

Degenerate
Dogfrog said:
What each individual does is between him and the IRS but the tax law doesnt mention priority points, only seats. Do you have access to the seats without the donation? I’m not qualified to comment but would definitely have a cpa sign off on it before proceeding.
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Just passing along what I was told. 80 percent is for construction. 20 percent for the seats. One is deductible and one isn’t. One gives priority points and one doesn’t. That’s tcu’s story. Or it was a month or so ago. I’m not a tax guy. I fix fetzer valves on private jets for a living. What would I know.
 
Dogfrog

Dogfrog

Active Member
Peacefrog said:
Just passing along what I was told. 80 percent is for construction. 20 percent for the seats. One is deductible and one isn’t. One gives priority points and one doesn’t. That’s tcu’s story. Or it was a month or so ago. I’m not a tax guy. I fix fetzer valves on private jets for a living. What would I know.
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Does that mean I can just contribute 20% of the requested contribution and get the seats? Ha, I’m not qualified either, just skeptical because TCU sure hasn’t made this public.
 
Gary's Shirtless Revenge

Gary's Shirtless Revenge

Full Member
For those asking about how Loge box points work, I understand TCU is accommodating the "groups" to make sure individuals are getting adequate value for their contribution/seat. As an example, there is at least one suite I know of that is a collection of fans/families and all of them get recognized for their individual contributions towards said suite.
 
WhiteHispanicFrog

WhiteHispanicFrog

Curmudgeon
Peacefrog said:
Just passing along what I was told. 80 percent is for construction. 20 percent for the seats. One is deductible and one isn’t. One gives priority points and one doesn’t. That’s tcu’s story. Or it was a month or so ago. I’m not a tax guy. I fix fetzer valves on private jets for a living. What would I know.
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C’mon. It's all ball bearings nowadays. Now you prepare that Fetzer valve with some 3-in-1 oil and some gauze pads. And I'm gonna need 'bout ten quarts of anti-freeze, preferably Prestone. No, no make that Quaker State.
 
ShadowFrog

ShadowFrog

Moderators
Hoosierfrog said:
Man, those have been obsolete since the 80s! They were way too unstable and required way too much power...
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Obsolete or not, I’ld capacitor my flux for Leah Thompson back in the 50’s (And bring back that sports magazine for “income” purposes). By the way, did you see her daughter Zoey Deutch on Colbert last week? Nice.
 
M

MAcFroggy

Active Member
Deep Purple

Deep Purple

Full Member
Dogfrog said:
Does that mean I can just contribute 20% of the requested contribution and get the seats? Ha, I’m not qualified either, just skeptical because TCU sure hasn’t made this public.
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When TCU developed its seating plan for the expansion, the Tax Cuts & Jobs Act had not been passed yet and no one was certain whether it would be. After it passed, literally everyone -- including the IRS -- was still trying to figure out how it would impact everything.

I'd wager that's why TCU wasn't publicizing anything, because there are still so many unknowns, questions even the IRS can't yet answer. TCU is also very careful about not appearing to give specific tax advice to donors, as that is a no-no. "Consult your attorney or tax advisor" is a mantra that is drilled into everyone in Development and the Frog Club.
 
LeagueCityFrog

LeagueCityFrog

Active Member
I think the actual number of real money is currently sitting around $70 million raised. Good luck Kansas football trying to raise north of $300 million for their new football stadium in this current tax climate.
 

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