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re: Donation Funds/Not for profit
Posted on 4/17/13 at 8:17 am to Venelar
Posted on 4/17/13 at 8:17 am to Venelar
As I understand it, If an account/ fund raising effort is established for the benefit of one person, it will not be granted a 501c non-profit designation. As a result, donation will not be tax deductible for the people giving money.
I'd think the funds can be used however since they are essentially just giving the money to the person.
I'd think the funds can be used however since they are essentially just giving the money to the person.
1
Posted on 4/17/13 at 9:35 am to tigers win2
That was my thought as well. Just need to let people know up front that it isn't.
Thanks
Thanks
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