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Tax Deduction for SVP Fast Pitch Donations

Social Venture Partners is a tax-exempt 501(c)(3) nonprofit organization (EIN # is 91-1894424).  Donations to SVP are fully tax-deductible.  However, if you receive value in return for your tax deduction, the IRS requires that you reduce your deduction claim by the fair market value of what you received.

If you purchase a ticket for the Fast Pitch Finals, SVP has determined that the fair market value (FMV) of your attendance (including the food, wine, venue costs, music, etc.) is $35.  If you attend the Impact Donor reception, the fair market value for the entire experience (reception followed by fast pitch event) is $45.  You can use your ticket receipt as your proof of donation, and you can use this page to indicate the FMV of what you received.

If you purchase a ticket and do not attend, you still must deduct the FMV described above.  If you purchase a donate-only item, you may deduct the full amount you paid.

More info: http://www.massnonprofit.org/expert.php?artid=1968&catid=61

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