Why Charity? Essay -- Compassion, Donate Money
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We are a 501c(3) organization dedicated to supporting Blues music awareness and musicians both local, national and youth. To generate funds we sell t-shirts, memberships and hold Blues music related events for which we charge an entry fee. A local for-profit brewing company that also specializes in Blues music is holding a festival and they have asked us to be a “sponsor” of the event by contributing “sponsorship” money. The money would be used by the for-profit brewing company to help cover expenses of the festival. We would not receive anything from the sponsorship other than a free booth (space) during the event. If the festival is profitable the brewing company will receive all of the profit and we receive nothing. Can we and are we legally permitted to act as a sponsor donating our non-profit funds to this for-profit company holding a Blues related festival? If not, is there any other way we can partner with this company to help them out?
Donate money to charity organizations essay - …
For the sake of perception though, I suggest you do not consider the fee you will pay for the booth to be a donation, because you cannot/should not donate charitable funds to a for-profit entity. You can, however, spend money for a service to further the good work of your organization.
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I would like you to expand on this comment a little please. What about an educational 501 (c) 3 non profit that is acting as a fiscal sponsor to raise money for scholarships for a non-profit school that does not have its 501 (c) 3 status yet. They are raising funds for general scholarships so that underserved children can apply and matriculate in the school. They are not assigning funds to any specific individuals, but handing the money over for the school to manage. They want to charge a 7% transaction fee for the money raised. Can you let me know your thought on this?
Also, the school is currently applying for 501 (c) 3 status. Will that effect their application or is it something they should note in their application (that they received funds in this way).
The son of the donor organization goes to the school and receives tuition deduction, but not from the donated funds.
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The tight control of private foundations, where the assets are created by the family or family business, seems to me to be no place for money donated by a public charity in the first place, where the money was given to carry out its own mission.