@John Taylor,
Does this IRS rule apply if the donated funds are going to be used for educational program support (to purchase supplies for a department, for example.)
Thank you,
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Emily Savino
San Jacinto College Foundation
emily.savino@sjcd.edu------------------------------
Original Message:
Sent: 10-26-2023 02:32 PM
From: John Taylor
Subject: Fundraising initiative for University Advancement?
The first issue is that any outside group wishing to solicit for any reason should follow your third-party fundraising policy and guidelines. These usually have an approval process and clearance to ensure they are not soliciting alumni and donors currently being solicited for other purposes.
The other reason for such a policy is to ensure these groups do not promise tax deductions when none are possible. And that is the case here. Per the IRS, you cannot raise funds and call them deductible if they are for a specific group of people to participate in a specific program or event. These laws go back decades and surfaced first when a group wanted to raise money to participate in a mission trip.
John
John H. Taylor
Principal
John H. Taylor Consulting, LLC
2604 Sevier St.
Durham, NC 27705
919.816.5903 (cell/text)
Serving the Advancement Community Since 1987
Original Message:
Sent: 10/26/2023 3:18:00 PM
From: Jeffrey Goldman
Subject: Fundraising initiative for University Advancement?
Hello,
I received notice from a member of our public health faculty that they are planning a service-learning trip to Jamaica next summer. They will need to fundraise to go and raise a fair amount of money ($5000-10,000). They are in the process of planning a 5 K run to raise the funds.
I wanted to see what rules are in place for this type of fundraising as far as University Advancement's involvement and counting the proceeds as charitable revenue.
Thank you!
Jeff
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Jeffrey Goldman
Gwynedd Mercy University
goldman.j@gmercyu.edu
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