Conejo Valley Archers

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All About Us! - About Sponsor and Partnerships
Written by Rick Pugh   
Thursday, 12 March 2009 19:24

As stated on our website, we qualify as a 501 (c) (3) with the IRS. To the donor, this means donations and contributions can be claimed on your federal income tax return providing they meet certain criteria.  Under the "Charitable Contributions - Substantiation and Disclosure" section of the "Compliance Guide for 501 (c) (3) Tax-Exempt Organizations", it plainly states the guidelines for donations and contributions.

There are two general rules that organizations need to be aware of to meet substantiation and disclosure requirements for federal income tax return reporting purposes:

  • A donor must obtain a written acknowledgement from a charity for any single contribution of $250.00 or more before the donor can claim a charitable contribution on his or her federal income tax return.
  • A charitable organization must provide a written disclosure to a donor who makes a payment in excess of $75.00 partly as a contribution and partly for goods and services provided by the organization.

For further information or inquiries please contact the Club Treasurer, Dan Dix.
Last Updated ( Tuesday, 07 April 2009 15:55 )