Future Campus Framework Discussion

[UnknownOrange]

I think youre right as far as small donations go, but the big donations are usually made with the tax deduction in mind.

To piggy back off this ... If it was an argument for "I want the best seats" vs "I want a good tax deduction" .. best seats won every single time lol. That's why I think it's just a little silly for season ticket holders to get an 80% deduction on the donation. They aren't just donating to athletics, they are paying a required amount of money to receive the entertainment they want from seating they want.

 

[NJCuse97]

where are you getting this from? there will be a reno unless they decide to build new.

I think he’s upset because he has a warehouse full of steel trusses that he thought would be installed about two years ago. He’s now gone opposite polarity in stating it will never happen.

 

[Cusefan78]

I think he’s upset because he has a warehouse full of steel trusses that he thought would be installed about two years ago. He’s now gone opposite polarity in stating it will never happen.

Not exactly.m what I was saying. They will have to do something before the roof time line expires. What I’m saying is this donation deduction crap isn’t holding back a renovation and if it is then they are using that as an excuse cause they don’t have the funding. Also his letter states it “could” which is an opinion not a fact.

 

[FasterCuse]

I believe there is an OT board dedicated specifically to tax discussions..

 

[reedny]

Yeah I am aware of what you're saying but the donation is tied in with the ticket. What I said was correct. 80% of the donation portion of the ticket is tax deductible.

Courtside seats are $10,250 for the front row. The "ticket" is only $460 of that lol.

It's just how they structure it. All that's going to happen is the wording will change and you won't be able to claim the donation anymore.

I think it's much more than a wording change, as you can see from the chancellor's letter to katko. There's going to be an impact, depending on the final wording of the bill. It hasn't passed yet, and even if it does, there will be changes in the conference committee.

 

[reedny]

You do understand that donations for the purpose of deductions are essentially paying an organization of your choice $100 for the right to recieve $30-$40 back from the government right?

The last time I checked, they end with with a lot less money whether they have a deduction or not.

Also, that $30-$40 that the donor receives from the government is payed proportionally by the rest of the tax paying population. The rest of the tax paying population is literally subsidizing that persons donation.

That's essentially right. We're all paying for charitable deductions in a way. It's a shared burden/contribution. Charities have to be recognized by the IRS and follow certain rules for that very reason -- deductions mean that the government receives less revenue that must be made up for by taxpayers.

 

[NJCuse97]

Not exactly.m what I was saying. They will have to do something before the roof time line expires. What I’m saying is this donation deduction crap isn’t holding back a renovation and if it is then they are using that as an excuse cause they don’t have the funding. Also his letter states it “could” which is an opinion not a fact.

Fair enough, but I think it is well understood that they don't currently have all the necessary funding for the Dome work, or it would likely be underway. That said, it would still only be in design and still a year off from a "shovel" in the ground. IMHO what the chancellor is trying to do is to incite his "base" to action by laying out threats to everything they may care about. What this tells me is that he is well aware of how much the school and community wants and needs this Dome renovation and he is using it to get you to contact your local representatives to prevent the bill from getting through. I don't think it truly has any significant impact on the Dome renovation. That said, they are not relying on state funding (at least not yet) to do the project, it will be a last resort (no insider, just opinion).

 

[UnknownOrange]

I think it's much more than a wording change, as you can see from the chancellor's letter to katko. There's going to be an impact, depending on the final wording of the bill. It hasn't passed yet, and even if it does, there will be changes in the conference committee.

Schools are terrified this passes because some people may choose not to attend games anymore. I think that's a stretch to an extent but they have a point.

I think LSU's AD said that if they have 65 million in seating related donations that if 10% of them decided to just stay home .. they lose 6.5 million they cannot make up elsewhere. I get that fear.

What I believe though is that if the best courtside seat for basketball ($10,250 [$460 is ticket, everything else is donation]) is still going to cost the same and I don't think it will shy enough people away.

Universities just may have to get more creative in donations.

Or they revise that part of the bill and all of this is for naught

 

[Cusefan78]

Fair enough, but I think it is well understood that they don't currently have all the necessary funding for the Dome work, or it would likely be underway. That said, it would still only be in design and still a year off from a "shovel" in the ground. IMHO what the chancellor is trying to do is to incite his "base" to action by laying out threats to everything they may care about. What this tells me is that he is well aware of how much the school and community wants and needs this Dome renovation and he is using it to get you to contact your local representatives to prevent the bill from getting through. I don't think it truly has any significant impact on the Dome renovation. That said, they are not relying on state funding (at least not yet) to do the project, it will be a last resort (no insider, just opinion).

In my eyes that makes the letter worse. Itsbthe university trying to put their thumb on the party line scale.

 

[reedny]

In my eyes that makes the letter worse. Itsbthe university trying to put their thumb on the party line scale.

I don't think this is about party line. 80% of the benefits of this bill are going to the top 1%. Public funding and charitable donations for educational institutions are going to be significantly impacted. And somewhere between $1T and 2.4T is going on the national debt within 10 years. IMO, every educational and charitable institution in the country should be writing a letter.

 

[StanCuse44]

...- deductions mean that the government receives less revenue that must be made up for by taxpayers.

Not really. How 'bout we cut wasteful spending and reduce the size and scope of gov't?

 

[reedny]

Not really. How 'bout we cut wasteful spending and reduce the size and scope of gov't?

Charitable deductions reduce the government's tax collections because no tax is paid on the deducted income. That's a fact. The rest ... save for OTB.

 

[CuseLegacy]

 

[CuseLegacy]

King Family Gift Supports Architecture Reading Room Renovation, Renaming

 

[CuseOnly]

where are you getting this from? there will be a reno unless they decide to build new.

I believe there will be...in about 2027.

 

[StanCuse44]

Charitable deductions reduce the government's tax collections because no tax is paid on the deducted income. That's a fact. The rest ... save for OTB.

Soooo you prefer to ignore the main problem (too much $$$$$ being spent/TAKEN from taxpayers) and only want to address the pimple on the as*. Shame. Okay, got it. Moving on.

 

[reedny]

Soooo you prefer to ignore the main problem (too much $$$$$ being spent/TAKEN from taxpayers) and only want to address the pimple on the as*. Shame. Okay, got it. Moving on.

Take your show to the OTB. I'll be happy to deal with you there.

 

[CuseLegacy]

 

[Orangepace]

A bedrock principle of the founding fathers is that people who buy good seats to football games should pay lower taxes than people who don't like football.

Devil's advocate... Lowering taxes for the Upper and Middle classes spurns investment. Investments put more money back into the economy, creating jobs, driving up wages, etc. Sounds very Econ101, but I can say for a fact that I'd be heavily interested in redirecting some of my investment money into more passive investments because of this.

The most significant concern I have over the timing of all this though relates to the repeal or downward adjustment to the mortgage interest and real estate tax deductions. We're just starting the climb out of the last housing crisis and these effects very well could toss us right back into another one. Take away the tax benefits of owning a home for many of the middle and lower classes and overnight your house will decrease in value. That decrease in value will throw everyone's LTV off... HARP 2.0?

 

[Orangepace]

You do understand that donations for the purpose of deductions are essentially paying an organization of your choice $100 for the right to recieve $30-$40 back from the government right?

The last time I checked, they end with with a lot less money whether they have a deduction or not.

Also, that $30-$40 that the donor receives from the government is payed proportionally by the rest of the tax paying population. The rest of the tax paying population is literally subsidizing that persons donation.

So are you advocating that a person who can afford to pay for the premium seats shouldn't get the deduction on the premise that the rest of the tax payers are subsidizing that tax break? Aren't most of those same people receiving the tax break currently subsidizing health care? Which subsidy do you think is more expensive?

 

[reedny]

So are you advocating that a person who can afford to pay for the premium seats shouldn't get the deduction on the premise that the rest of the tax payers are subsidizing that tax break? Aren't most of those same people receiving the tax break currently subsidizing health care? Which subsidy do you think is more expensive?

Despite all my efforts, this issue keeps popping up in the wrong thread. But since you guys insist, it's pretty clear that the conversation, including Milly's comments about charitable deductions, begs for more context. It's reductionist. The fact is, every single provision in the tax code affects all taxpayers. When you give fat cats a tax break for their private jets, we all have to pay more to make up the difference. When you let hedge fund managers pay income tax at the capital gains rate, we all subsidize that. When you reduce the corporate tax rate, individual taxpayers will get shafted. The governments expenditures are, to a great extent, fixed. Republicans didn't have the guts to cut discretionary spending and didn't even bother to propose entitlement reforms. They just did what Bush did in the early 2000's .. they got in office promising "conservative values", rammed through a sweetheart deal (mostly) for the rich, and glibly added more than a Trillion dollars (probably substantially more) to the national debt. That's not "conservative". It's just another massive "re-distributionist" sales job.

So the least of the villains here are the charities.

 

[OrangeXtreme]

 

[reedny]

Time to call the DOL.

 

[CuseLegacy]

Thursday, December 7, 2017



Dear Orange Friends:


On March 24, 2020, Syracuse University will celebrate its sesquicentennial, the 150th anniversary of its founding.

In February 1870, at the Methodist State Convention in Syracuse, a resolution was passed to “establish, without delay, in the City of Syracuse or its immediate vicinity a first-class university.” The goal then was to raise $500,000 to endow the new university and purchase 50 acres of farmland in southeastern Syracuse. On March 24, 1870, the Board of Trustees of Syracuse University signed the University charter and certificate of incorporation.

Looking to this significant milestone in the distinguished history of our great university, I recently appointed a sesquicentennial steering committee.

The committee is a cross-section of students, faculty, staff, trustees, and alumni. Their charge is to plan and create a yearlong series of events that will engage alumni and friends within the campus community, in Central New York, throughout the nation, and across the globe in meaningful ways.

Each member brings unique knowledge and experience and acts as a citizen of the entire University. This steering committee will create subcommittees and working groups to support its efforts.

There will be many opportunities for the campus community to help and participate in this planning. This effort will be nimble and flexible and recognize the many important and diverse groups that comprise our university. I encourage you to get involved.



Sincerely,



Chancellor Kent Syverud

 

[cuse10]

Slightly off topic, but I think it is time for Acropolis to be forced to close earlier, shut down or asked to vacate their spot on Marshall Street. These incidents have been the norm rather the exception over the past few years. Putting the SU student body at risk because of locals who can't handle themselves isn't worth it.

Police: 3 Syracuse residents stabbed in Acropolis early Sunday morning