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Guidlines Regarding Deductibility of Your Donation

Dear Contributors:

Thanks to your generosity, we were able to raise more than $600,000 within 3 months of the Bam earthquake and sponsored 668 needy children orphaned by it. Your cancelled check will serve as proof of your donation, however, we’ll be happy to answer your questions or provide you with a specific letter if you so desire.

The following provides you with a guideline regarding deductibility of your donation:

  1. Your donation may be completely tax deductible if you did not receive any material benefits in return.
  2. If you attended a dinner fundraiser the cost of dinner must be deducted from your donation. You may obtain this information by contacting us directly or getting in touch with the dinner sponsor.
  3. If you donated an item for auction, you may want to review IRS Form 8283 to calculate the correct amount to deduct on your tax return. If audited by IRS, the burden of proof of the deduction amount is upon you.
  4. If you bought an item in auction during fundraising dinner or concert, only the amount that you paid for the item above fair market value will be tax deductible. For example, if you paid $250 for a $200 gift certificate, $50 may be tax deductible.


Again, thank you very much for making a difference in the life of children by your generous donation. For updated information please visit ERFO website (www.erfo.org)

 

 
     
 
 
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