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CGCPA
CGCPA, CPA
Category: Tax
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Experience:  over 40 years experience in tax matters
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Good Morning, We have a local PTO sponsor 5k run every year

Resolved Question:

Good Morning,
We have a local PTO sponsor 5k run every year in our Local Town . We would like to donate a portion of our proceeds to another 5013 c approved children's charity . Is this legal???
Submitted: 3 years ago.
Category: Tax
Expert:  CGCPA replied 3 years ago.

Welcome to Just Answer. I am here to help you resolve your tax and finance concerns. Please feel free to ask anytime you need extra help.

It is completely legal. Feel free to do as you state.

Customer: replied 3 years ago.
How exactly could we donate??? Would we cut a check to the charity??? and could the PTO get a tax write off or no???
Expert:  CGCPA replied 3 years ago.
You would simply write a check to the charity. The sponsor is entitled to a deduction for the amount paid.
Customer: replied 3 years ago.

Thank you very much... 2 more brief things??

 

If we would like to just have the runners donate an extra portion on the bottom of the sign up sheets for the run ... Then would donation tax write off go to the PTO or the runner who made the donation?

 

Is there anything in the "by laws of PTO's" that may prohibit this???

 

Expert:  CGCPA replied 3 years ago.
If the runners sign a specific statement that $xxx of their donation is to go to a registered charity (they can even be permitted to select from a list) they are entitled to the contribution deduction. Without that statement they may be restricted by the limitations of law. For a contribution to be tax deductible it must be made to a recognized charity. This recognition can also be sought by the PTO. The by-laws will probably not place any restrictions on this but should be reviewed by an attorney. Every organization has the opportunity to have its by laws tailored to its own purposes so I cannot make a blanket statement concerning them.
Customer: replied 3 years ago.
Thank you very much.. I will use your service again.
Expert:  CGCPA replied 3 years ago.
You are quite welcome. We are here to help. Feel free to return any time. If you are satisfied with the assistance I have provided, please click the accept button. I do not get credit for my efforts until you do so. Feedback is also appreciated.
Customer: replied 3 years ago.
How do I get a TEXT of your answer?? I will then press the accept button
Expert:  CGCPA replied 3 years ago.
You can simply press the "print screen" button on your keyboard. If that does not work for you (some computer software is different), point the cursor at the text and right click. Print should be in the box that opens. If that does not work, please let me know and I will ask customer service to email it to you. I do not have access to your email address or personal information (for your protection) so I cannot do this for you.
CGCPA, CPA
Category: Tax
Satisfied Customers: 3738
Experience: over 40 years experience in tax matters
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