Tax Benefits

Courtesy: Iron Dukes
         
Release: June 29, 2005
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The Internal Revenue Service allows a deduction on contributions where there is no tangible or intangible benefit to the donor. If you accept benefits in exchange for your contribution, your deduction may be limited. For example, receipt of priority consideration for the purchase of tickets at an athletic event will reduce your deduction to 80% of the value of your gift. If you have questions regarding the deductibility of your gift to the Iron Dukes, you should contact your personal tax advisor.

You may support the Iron Dukes through contributions from a donor advised fund or a private foundation, but such contributions cannot provide any tangible benefits to you or another individual. Federal law prohibits use of gifts from a donor advised fund or private foundation if tangible benefits, such as priority consideration for the purchase of tickets at an athletic event, are received. If you would like to support the Iron Dukes and waive any benefits you would otherwise receive, please indicate your desire to waive such benefits in correspondence included with your contribution.

Is my contribution to the Iron Dukes tax deductible?
Yes, the Internal Revenue Service allows a deduction on contributions where there is no tangible or intangible benefit to the donor. If you accept benefits in exchange for your contribution, your deduction may be limited. For example, receipt of priority consideration for the purchase of tickets at an athletic event will reduce your deduction to 80% of the value of your gift. If you have questions regarding the deductibility of your gift to the Iron Dukes, you should contact your personal tax advisor.

Can I make an Iron Dukes contribution from my donor advised fund? How about my private foundation?
You may support the Iron Dukes through contributions from your donor advised fund or your private foundation, but such contributions cannot provide any tangible benefits to you or another individual. Federal law prohibits use of gifts from a donor advised fund or private foundation if tangible benefits, such as priority consideration for the purchase of tickets at an athletic event, are received. If you would like to support the Iron Dukes and waive any benefits you would otherwise receive, please indicate your desire to waive such benefits in correspondence included with your contribution.