Arguably no school understands the importance of maintaining a top athletics program like the University of Connecticut.
UConn has one of the premier athletics programs in the country, ranking #4 on Niche’s list for Best College Athletics in America. Its men’s and women’s basketball programs both highlight the athletics department, with both having won national championships within the past three years.
However, as the landscape of college athletics gets increasingly more competitive, schools like UConn are incentivized to find unique ways to keep their sports on an elite level.
The UConn Division of Athletics has recently announced its plans to launch a unique state tax credit program that will increase support for its athletic programs while also providing special benefits for Connecticut taxpayers who opt in.
According to the UConn Athletics official website, the program will provide taxpayers state tax credit equal to 50% of qualifying payments made to support UConn athletics programs.
Up to $500,000 in tax credits are allowed with an aggregate program cap of $5 million per calendar year. This tax credit will only be applicable to offsetting Connecticut state tax liabilities.
Among qualifying payments to receive these tax credits include:
- Donations of at least $5,000 to the newly-created “Storrs Strong Fund” that can be accessed via UConn’s Marketplace website or established Pledge Agreements. Donations and agreements must be received by UConn no later than November 15, 2025.
- Licensing & Endorsing agreements through student-athlete name, image and likeness (NIL) worth at least $5,000; the taxpayer must first receive permission from the school.
- Sponsorship agreements worth at least $25,000
This is in accordance with the UConn Tax and Compliance Office.
This program emerged as the university athletics department sees the need for additional forms of revenue following massive changes in college athletics, as seen by the recent ruling by the NCAA that allows for revenue sharing between universities and their student-athletes.
UConn plans to share a minimum of $18 million of its athletics revenue in the first year of this settlement, according to a statement by UConn Athletics Director Dave Benedict in a Hartford Business Journal article.
More information regarding UConn’s State Tax Credit Program can be accessed by emailing statetaxcredit@uconn.edu.
