Tax Information for the Nittany Lion Club
All contributions to the Nittany Lion Club are considered gifts to Penn State and are credited at full value for purpose of the donor's gift record at the University.
However, a contribution to the Nittany Lion Club that entitles the contributor to purchase football and basketball tickets is 80 percent deductible as a charitable contribution for income tax purposes, according to Internal Revenue Code, Section 170(l).
In addition, the Internal Revenue Service has ruled that this 80 percent portion of your gift is only tax deductible to the extent that it exceeds the value of the benefits you receive. The Nittany Lion Club has estimated the fair market value of the benefits described in this brochure, and that information is available upon request. Call 1-800-NITTANY to request this information.