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Tax info on private fundraiser (NOT a nonprofit)

17 years 5 months ago #128496 by SAKTF
Check out www.COTA.com you will find a great program for your situation.
Good Luck
17 years 5 months ago #128018 by Rockne
That's a lot of money to run so informally. Sounds like getting non-profit status in your case would be worth it, even just so the donors can get tax deductions.

I'd advise you to see if there's a local lawyer, perhaps one sympathetic to your cause, who can do a little work for you.

Tim

PTO Today Founder
17 years 5 months ago #128015 by SAKTF
I'm not sure if this is the right place to ask about this, but I'm not sure where else to go.

We are raising money for a kidney transplant. I keep hearing conflicting info on if we will have to pay taxes on what we raise.

Our goal is $150,000.

We are NOT a non-profit, just family and friends raising money for someone who needs it.

Any ideas where I can find info on 'the rules' on this?

Also, is it different if you are having an auction? We are having an auction on the 17th and someone told me we'd have to have a tax id number to do this.

As a private thing does any of this matter?

Thanks you guys -- and I appreciate all the great ideas you've posted so far!

www.myspace.com/saktf
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