The donation will be made to a 501c3 charity. Donations are generally tax deductible to the donor. But what about people who buy tickets to our event (proceeds from the ticket will contributed to the charity)?
2007-03-14 11:56:25 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ Other - Taxes
The event is not hosted by a charity. Rather, we will contribute proceeds from the event (after paying vendors) to a 501c3 charity. Would that present a problem for ticket buyers/contributors (the fact that they are not contributing to a charity directly)?
2007-03-15 07:11:52 · update #1
If the donors want a tax deduction, then they must make the check out directly to the charity.
If they make the check out to you or your organization, (assuming your are not a charity(, then the tax deduction will be yours, not theirs.
2007-03-17 14:36:09 · answer #1 · answered by christie m 1 · 0⤊ 0⤋
Only the portion of the ticket price that exceeds it's fair market value is deductible. You'll do them a massive favor if you separately state the optional donation portion of the ticket price on the ticket itself.
2007-03-14 19:05:20 · answer #2 · answered by Bostonian In MO 7 · 2⤊ 0⤋
not unless it is a charity that is recognized by the government
2007-03-18 16:43:01 · answer #3 · answered by just me 5 · 0⤊ 0⤋