On Apr 5, 10:44 am, Harlan Lunsford <hnslunsf...[at]bellsouth.net> wrote:

- quote -

Yes. It's a 501(c)(3). Also, you can look them up at
http://www.charitynavigator.org/inde...ary&orgid=3993.

- quote -

Yes.

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removeps-groups[at]yahoo.com wrote:
- quote -

this organization is qualified by IRS to receive contributions.

And the second "long jump" is to insure that who ever "gives" the money
is qualified to do so, and that there are no sham donations.

But if not, just "take it in stride."

I'm done.

ChEAr$,
Harlan Lunsford, EA n LA

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If you are a team in training athlete, are the contributions you make
to your own campaign deductible?

Team in training is a program where you perform in an athletic task
such as biking, swimming, jogging. Friends, family, companies,
sponsor you. You raise money for leukhemia research. Donations to
team in training are deductible.

Some events take place in other cities, so part of the money you raise
is used for hotel, airfare. In any case, part of the money is used to
pay the experts who train you.

Now some events have a target of 5k or more. If you fall short, the
organization may ask you for the difference. Say your friends and
family only gave 4k, then you pay the remaining 1k. So is this 1k
deductible?

On one hand, it appears that you receive a benefit from the donation
(such as airfare and hotel), so only the excess above the FMV of this
benefit is deductible.

On the other hand, say your friends and family sponsored you to the
tune of 5k. Then all that 5k would be deductible to them. So why
can't you take a deduction for that 1k. For that matter, you could
have gifted 1k to your family and they could have donated it and got
the deduction -- so almost the same result to the IRS.

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >