My son is playing on an AAU baseball team and they are a non profit team with a tax exempt id number. Does that mean that any donation that I get for that team is tax deductible as defined by IRC section 501 © (3)??
Thanks in advance. I am trying to put together a sponsor letter but want to make sure that my info is accurate.
Thanks
2007-08-12 05:47:36 · 3 answers · asked by Janice C 5 in Business & Finance ➔ Careers & Employment ➔ Government & Non-Profit
Yes, donations to a non-profit, tax-exempt organization are tax deductible.
The new tax laws are now pretty strict regarding receipts for tax-deductible donations, so I would include in the letter, "tax-deductible donation receipts are available" or something like that, because people will be asking for them.
2007-08-12 07:08:54 · answer #1 · answered by Lee 7 · 0⤊ 0⤋
It's not the tax id that matters. The team must have a letter from the IRS indicating that they have 501(c)-3 status.
2007-08-12 13:04:01 · answer #2 · answered by Alice Lockwood 4 · 0⤊ 0⤋
Yes it's deductible
2007-08-12 12:50:07 · answer #3 · answered by Anonymous · 0⤊ 0⤋