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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:
- Your donation may be completely tax deductible if you did not receive
any material benefits in return.
- 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.
- 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.
- 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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