There are two ways your donations can support the club ... BOTH of which are deductible from your federal taxable income. Please also check with your employer for potential matching donations.
1) Men's Rugby Endowment
Monies donated to the Men's Rugby Endowment remain in the endowment principal account and are invested at a guaranteed 4.5% annual rate of return. This income can be used to support the club's current needs. The principal balance in the Men's Rugby Endowment grows with each donation and will never be touched. Your donation to this account will continue to spin off monthly income for the club in perpetuity. Our long term plan is to grow the Men's Rugby Endowment over time to a size where there is minimal need for option #2 below.
2) Friends of Hoosier Rugby
Friends of Hoosier Rugby is a registered 501(c)(3) non-profit, and your gift is deemed tax-deductible absent any limitations on deductibility applicable to a particular taxpayer. It may also be matchable if your employer matches charitable contributions. Your generous gift to Friends of Hoosier Rugby will go directly to the team’s operating costs, covering the gap between our current budget and what we need to be competitive with the upper levels of college rugby, year in and year out
While Friends of Hoosier Rugby will focus on supporting the team’s annual budget, 10% of donations will go to the endowment, recognizing the alumni leadership that has supported the team’s growth and pushed us to continue to excel, both on and off the pitch.
NOTE to Indiana Residents:
In addition to Federal deductions, Indiana resident donors may also deduct half their donation directly from their Indiana state tax due (up to $200 max if married). Therefore, a $400 donation may be eligible for a $200 credit from the State of Indiana. Please see this link at IN.gov for more information.
No matter which fund you donate to, the donation process will provide you with immediate download of all the receipts and documentation that will qualify you for both federal and Indiana state deductions.