Frequently Asked Questions
What is the TECH Fund?
The TECH Fund (Tradition, Education, Character, Heart) is a seat-donation plan that will provide a sustained annual revenue source critical to the success of Georgia Tech athletics. There is a commitment at Georgia Tech to position the Institute at the very highest level in both academics and athletics on a national stage. We believe this quest for all-around excellence and achievement is the right thing to do. To that end, we must create a financial model that enables us not only to provide a full complement of scholarships, but also to provide our student-athletes with the resources to allow them to become successful in all of their endeavors while at Georgia Tech. The TECH Fund, combined with increased institutional and student-based support, will provide the athletics program with this vital fiscal stability.
Why now?
Georgia Tech has made a commitment to compete in intercollegiate athletics at the highest level. Along with that commitment comes a promise to our fans and supporters to responsibly plot our course for the future - developing a blueprint that is in line with our goals and priorities while maintaining fiscal integrity. We all understand the challenges we face in the coming years. The TECH Fund is a major component in a master-plan to build a foundation for our future. As we look three years, five years, and even ten years into the future, it is clear that without this fiscal plan we cannot achieve the goals we all want to see realized.
How will gifts to the TECH Fund be used?
Gifts to the TECH Fund will be used to support the annual operational costs associated with sustaining a highly competitive athletics program at Georgia Tech. These costs include everything from scholarships, to facility maintenance, team travel, and vitally important academic support programs.
What will be the new focus of the Alexander-Tharpe Fund?
The A-T will focus on major gifts that benefit Georgia Tech athletics. This includes scholarship endowment opportunities and immediate and long-range facilities needs. The A-T will take on the very ambitious goal of fully endowing scholarships for all student-athletes at Tech within the next decade while continually raising money to maintain our athletic facilities, allowing us to recruit and train student-athletes of the highest caliber.
How will the new TECH Fund work?
The program will be similar to those in many college sports venues in our conference and across the country. Seats will be purchased with a priority donation component that is based on the location of the seats within the stadium or arena. Obviously, the better the location the higher the accompanying donation will be required. There are still many seats in our football and basketball venues that require no TECH Fund donation at all.
How did you determine the price of the seats in each section of the different venues?
The TECH Fund is the result of many months of research and comparison with schools with which we must compete. We also looked very closely at the donation patterns of current ticket holders who occupy the various TECH Fund sections.
What will I see with the implementation of this new program?
You will continue to receive statements summarizing your support of Georgia Tech athletics. The statements will reflect all of your gifts whether they are part of the TECH Fund or made to the Alexander-Tharpe Fund.
Are gifts to the TECH Fund and A-T tax deductible?
Yes. Section 170 (1) of the IRS code sets values for ticket priority payments. For gifts to the TECH Fund, 20 percent is allocated to the ticket priority and 80 percent is a charitable donation. Gifts to A-T are in most cases 100 percent deductible. Tax statements are provided to each donor in January of each year with information regarding the previous calendar year's donations. Please consult your tax advisor for more detailed information.
Will I receive any benefits for my TECH Fund annual gifts?
Yes. There will be a discount afforded each year on your season football ticket price. In addition to getting access to season tickets in a priority area, contributors to the TECH Fund will receive a media guide and other Georgia Tech items on an annual basis.
Will gifts to the TECH Fund be eligible for matching gifts from my employer?
Many companies match philanthropic gifts to athletics. Please check with your employer.
Can I still make gifts of stock?
Yes. This is a great method for philanthropic gifts to A-T. We can accept stock gifts for TECH Fund payments as long as you contact an A-T representative (404.894.5414) to arrange.
When will TECH Fund gifts be due?
Football: TECH Fund contributions for existing season ticket holders will be received by the Georgia Tech ticket office from February 15, 2007, to April 13, 2007. To participate in the three-payment plan option, your completed TECH Fund invoice must be received by the Georgia Tech ticket office by March 27, 2007. The actual season ticket payment deadline is June 22, 2007.
Men's Basketball: TECH Fund contributions for existing season ticket holders will be received by the Georgia Tech ticket office from June 1, 2007, to July 31, 2007. To participate in the Three-Payment plan option, your TECH Fund invoice must be received by the Georgia Tech ticket office by June 29, 2007. The actual season ticket payment deadline is August 31, 2007.
What happens to the 1st and 10 Board of Trustees?
The 1st and 10 Board will continue to help Georgia Tech athletics on various projects. This group is currently trying to endow a 1st and 10 scholarship.
I have four seats in Section 109 for football, and two seats in Section 16 for basketball. What will it take to keep my seats?
You will keep your seats as long as you make the annual contribution to the TECH Fund associated with the location of your seats. In this example, it would be an annual contribution to the TECH Fund of $1,400 (4 x $200 for football + 2 x $300 for basketball), plus the price of the tickets.
I want to give $3,000 annually and buy six football tickets in Section 104. How will my gift show on Georgia Tech's records?
This will show as a gift to the TECH Fund of $1,800 and a gift to A-T of $1,200 for scholarship support.
I have eight football tickets and plan to keep only four. Can I transfer the other four to a friend or relative who has sat with me for a number of years?
Yes, for a $100 transfer fee and the completion of the transfer form, you can assign tickets currently in your name to another person (football only). This assignment will be exclusively for the exact seats you currently occupy. That new account holder will then be responsible for all ticket charges and TECH Fund requirements associated with those seats. This transfer opportunity will be available only from February 15, 2007, to March 27, 2007.
Is the transfer option available for basketball?
No, the transfer option is only available for football tickets.
How will priority points be utilized?
Priority points are used for the assignment of all current ticket allocations. Customers with the highest number of points will continue to have the first option to renew and/or change their seat location or parking lot assignments for football and basketball seasons as long as they pay any associated fees. Ticket assignments tied to the point system also include away games, bowl games, and ACC and NCAA tournaments. All accounts with priority points will be linked to an individual.
Will the priority point system change in any way?
Yes. Unrestricted commitments to A-T and commitments to facility projects will receive a total of 2 points per $100 (1/2 point per $100 on the pledge and 1 ½ points per $100 on each pledge payment). Commitments to endowments will receive a total of 1 ½ points per $100 (½ point per $100 on the pledge and 1 point per $100 on each pledge payment). Finally, gifts to the TECH Fund will be 1 point per $100. Missed annual pledge payments will result in the removal of the pledge balance and associated points.
What is the fastest way to acquire priority points?
The quickest way to accumulate points is by making an unrestricted commitment to A-T and/or a commitment for a facility project. An unrestricted five-year pledge of $25,000 ($5,000 annually to A-T) will receive 125 points at the time of the pledge and an additional 1 ½ points per $100 for each annual pledge payment, for a total of 500 priority points.
Will giving to the TECH Fund count toward my consecutive years of giving to A-T?
Yes. Giving to the TECH Fund will maintain your consecutive years of giving.
How will parking be assigned?
All season ticket holders for football and basketball will have the option to purchase a season parking pass. This includes those interested in RV parking. Additional passes may be available for purchase. Lots or preference will be determined in priority point order.
I have been making gifts to A-T for 20 years. Will my priority points still help me get good seats?
Priority points will still be the foundation for seat assignments that are new, improvements from a previous season, and/or involve a postseason event. Those with the most points will have the first option to select the location of the available seats they wish to purchase. Gifts to A-T and the TECH Fund will accrue points, and gifts to either A-T and/or the TECH Fund will count toward your consecutive years of giving.
What is an A-T Life Membership?
A Life Membership is currently a $100,000 commitment to A-T payable in equal installments over five years. Priority points are awarded at the time of the commitment (1/2 point per $100) and on each pledge payment (1-1/2 points per $100). Annual gifts to the TECH Fund will still be required to buy priority season tickets. Life Members will receive consecutive years of giving status if they do not purchase priority season tickets.
What are the benefits of a Life Membership?
Benefits of a Life Membership include the influx of priority points with pledge and subsequent payments that give early access to season tickets and parking; individual reserved parking with purchase of men's basketball season tickets; invitations to exclusive events and meetings; no annual giving requirement in order to maintain consecutive years of giving status with A-T; and program recognition. The most important benefit of a Life Membership is the knowledge and satisfaction that you are a vital part of helping Georgia Tech athletics strive for and maintain success.
Will pledge payments on a Life Membership count toward the TECH Fund?
No. Life Membership pledge payments are considered an unrestricted gift and will not count toward TECH Fund contributions.
How many tickets can I purchase?
There is currently no limit on the quantity an individual may purchase. Georgia Tech athletics does reserve the right to place a maximum limit per account at any time.
Is the same plan applicable to Georgia Tech faculty and staff?
Faculty and staff will receive a 20 percent discount on the price of all season tickets. If any Georgia Tech faculty/staff members want to sit in a priority area, a corresponding TECH Fund contribution will be required.
How do I improve my seat location and/or change to a different location?
All requests for a change of ticket location will be addressed in priority point order. Whether requesting a change to an area that requires a higher, lower, or no contribution, these requests will be handled in this manner. To make a request for a change of location, simply fill out the Ticket Relocation Request Form, which can be accessed online or through the Georgia Tech ticket office, and submit it by April 13, 2007.
Can someone with more priority points bump me out of my current seats?
As long as you pay the corresponding contribution to the TECH Fund, someone with more priority points will not displace you from your seats.
I already purchase season tickets in a premium seat area (the Bobby Dodd club seats and/or courtside seats for basketball). Will I be able to keep my seats?
Yes. You will be able to renew your existing seats in the Bobby Dodd Stadium club and/or the courtside areas of Alexander Memorial Coliseum.
Are there any available suites?
Yes. There are currently available suites in football, basketball, and baseball. Football suites vary in size and will hold a range of 16-36 people. The price is per person and includes game tickets, food, and parking. Individual tickets are not sold in the suites. The balance of the suite cost (total cost of suite minus the price of catering and game tickets) is a donation to the TECH Fund. Please contact the Georgia Tech ticket office for further information.
How do I obtain tickets to post-season games?
Tickets to football bowl games, ACC tournaments and championships, and NCAA events in which Georgia Tech is participating will be assigned in priority point order. Applications and/or notices will be sent to season ticket holders and A-T members prior to any sale to the general public.
How do I request away-game tickets?
All information to request and order tickets for away football games will included on your season ticket invoice, which will be mailed February 15, 2007. If demand exceeds supply, away game tickets will be assigned according to A-T point priority.
What is the procedure for a new customer to purchase football season tickets in a TECH Fund area?
The Georgia Tech ticket office will begin accepting orders for new season tickets in February of 2007. A deposit of $100 per seat, regardless of location requested, will be required at the time of the order. The new customer will be mailed an invoice for the cost of the tickets on May 1, 2007, with payment for the tickets due by June 22, 2007. After June 22, 2007, the new customer will be assigned seats in the requested TECH Fund area, if available, and the $100 deposit will be applied toward the required TECH Fund donation for those seats. If seats are not available in the requested TECH Fund area, the new customer may select another area where seats are available, or the $100 deposit will be refunded.
Why doesn't the athletics program use any state tax money?
The Georgia Institute of Technology is committed to using all its state tax dollars for academic programs and capital projects for the academic mission of the Institute. Georgia Tech athletics is its own business unit, responsible for its own revenues and expenses.
Wouldn't it be better to seek more revenue from corporate sponsors?
Georgia Tech athletics will continue to seek more participation from corporate partners. For example, we currently are pursuing a corporate naming opportunity for Alexander Memorial Coliseum. Our multi-media rights are held by International Sports Properties (ISP) under a long-term contract with four years remaining.
Can anything be done to curb the rising cost of running the athletics program?
Georgia Tech athletics is committed to controlling its costs and being responsible and prudent in its spending. But there are rising costs that must be met in order to operate a successful Division I athletics program. For example:
- There is a popular misconception that scholarship costs are simply waived for student-athletes. In fact, the athletics program currently pays the Georgia Institute of Technology approximately $7 million annually for tuition, room, board, and fees.
- The cost of team travel increased 20 percent last year alone to $2.2 million. The cost of moving 350 student-athletes in 17 varsity sports to competitions all over the Southeast and other parts of the country will continue to rise.
- To augment the past fund-raising campaigns, Georgia Tech athletics used leverage to cover a percentage of recent capital investments. Servicing that debt comes to $8 million annually and is the sole responsibility of Georgia Tech athletics.
