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DECEMBER 2020 5 & VAF news notables Your donation to the Virginia Athletics Foundation, no matter how big or small, is significant to the Virginia Athletics program. To make your pledge or donation, visit VirginiaAthleticsFoundation.com or call (800) 626-8723. Secure the Future of UVA Athletics The Benefits of Giving Appreciated Securities The positive trends we've seen over the last month in the stock market present a good opportunity to consider the benefits of a gift of appreciated securities to the Virginia Athletics Foundation. There are several benefits to a gift of appreciated securities: • You'll have the satisfaction and recognition that comes with knowing you're supporting the UVA Athletics program of your choice, • You could be eligible to receive an income tax deduction for the full market value of the securities, and • You may avoid tax on the capital gains built up in donated securities that you would recognize if you sold them. (If you still want to own shares of a particular stock, you can purchase new shares and set a higher cost basis as of the date of purchase, effectively "extinguishing" all of the original recogniz- able capital gain while maintaining your overall portfolio holdings.) Instructions on how to make this type of gift and further information about the re- lated benefits can be found at VirginiaAthleticsFoundation.com/how-to-make-a-gift. For more information on donating appreciated securities or other non-cash assets, contact the VAF at 434-982-5555. In January 2021, the NCAA Council will vote on NCAA legislation that would permit prospective student-athletes and/or current student-athletes to engage in business activities including third-party endorsements utilizing their name, image or likeness (NIL). If adopted, the legislation will have an August 1, 2021 effective date. An important component of the proposals and pending legislation is that institutional personnel and boosters, which VAF members are considered to be, may not be involved in the development, operation or promotion of a prospective and/or current student- athlete's business activities. The NIL proposal/legisla- tion will also prohibit institutions and boosters from directly or indirectly making arrangements for the use of a prospective student-athlete's name, image or likeness in business activities or non-institutional pro- motional activities during the recruiting process. The overall preclusion of institutional staff members and boosters from prospective and/or current student- athletes' business activities is critical to ensure com- pensation is not an inducement to attend an institu- tion, or "pay for play" compensation. The proposal will require the prospective and/ or current student-athlete to disclose information related to the use of his or her name, image or like- ness in the advertising or promotion of a commercial product or service to the institution and/or to a to- be-determined NCAA-based third-party administrator. The prospective and/or current student-athlete will have to disclose compensation arrangements and details of relationships with an involved individual, commercial entity and third party (e.g., contact infor- mation for commercial entities, professional service providers, other involved parties) to protect against institutional staff member and booster involvement in the business activity. Look for continued NIL information from the UVA Compliance Office after the January 2021 vote. Thank you for your continued support of UVA and the UVA Compliance Office. Have a great holiday sea- son, Happy New Year and Go HOOS! Name, Image and Likeness (NIL) Eric Baumgartner, Associate Athletics Director for Compliance compliance corner Duke — September 26th Kyler Sullivan – Arlington, VA NC State — October 10th Cindy Blackley – Richmond, VA UNC — October 31st David and Mary Graf – Bluefield, VA Louisville — November 14th Stuart and Linda Bolton – Glen Allen, VA Abilene Christian — November 21st Jason and Jennifer Dail – South Mills, NC Boston College — December 5th Ian Rogol – Mobile, AL 2020 Football Members of the Game