Five Myths About Fundraising

Five Myths About Fundraising

Myth: We live in a small, poor county and nobody will ever give us donations. It's hopeless.

FALSE! Many small charities reach out beyond their county lines to attract national donations and supporters. We've got some interviews with groups who've done that who'll spill the beans.

Myth: People like groomers and vets and lawyers can deduct the cost of their services that they donate to your group if your group is a 501(c)3.

FALSE!  Services are never deductible. Only products and money (or things like money, like stocks and bonds).

Myth: The cost of a ticket to your charity dinner is tax deductible:

PARTIALLY TRUE. The cost of the ticket MINUS the value of the meal EQUALS the part that's a donation.

Myth: Adopt this dog and your adoption fee is tax deductible.

PARTIALLY TRUE MAYBE. See above. Same as the charity dinner.

Myth: All charities can hold one raffle a year.

MAYBE. It depends on your state. In Tennessee, you can IF you have submitted the right application to the legislature along with the statutory fee, and it ain't cheap.