New Team

[02Crush]

Hmmm...that is weird because I am pretty sure that one of the organizations dd played for had this 501-C (3)...we were given copies of the letters to give to potential sponsors. Oh well...I am far from knowledgeable about this stuff....I'm just a bystanding parent. LOL

Hmm.....I have spent a ton of time and asked a few good accountants and the IRS TAX code does not allow for it. If a person donated and then deducted it and was audited it would not be a valid deduction. Hate to break the news but it is true. If anyone know a loop hole to bypass I am all ears. There are a ton of Non Profit Status' [501(c) status]. It is the "3" that matters..3 means Charities like Churches, Goodwill, Red Cross, etc...
But only a few where donations are tax deductible. All others merely allow the organization to buy without liability of paying taxes.
I hope there is someone out there who can help me with the loophole as I would be extremely interested.

 

[02Crush]

Consent to immediate entry of a restraining order.

Could not agree more! I laughed so hard out loud when I read this....

UTRAG Please make a note to self....Parents are not the reason you are doing this!
And when you have a tough day....Return to this return to this note as a reminder of
what is good about the sport and the team

 

[Rooster's Dad]

Free advice from an attorney, hard to pass up Nonprofit Law: Youth Travel Baseball Team, irs publication 557, harvey mechanic Although it does look like it could get expensive to file.

 

[02Crush]

Good Read....
However this is what the IRS says to be a 501(c) 3 is that you must do the following:
Exempt Purposes - Internal Revenue Code Section 501(c)(3)

You could stretch the "Fostering of National or International Amateur Sports Competition". However a regional TB club is not doing this. I suppose if we were not charging under privileged players any fees and it was in an effort to foster an after school program designed to stop kids form entering into delinquency, maybe...But that is not the typical MO for TB.

The IRS also has a page with all the explanations we need to see if we qualify...
Publication 526 (2011), Charitable Contributions
No where on it is Travel Sports Clubs. However if you look up 501(c) 7 you will find where we land. But this does not allow Tax Deductible Contributions. I am not sure how people say they have a deductible status and I am still interested in seeing it so I can do it as well. However my accountant says it does not exist legitimately. We can avoid taxes on things we buy and avoid any tax liability to the IRS but people who donate to us cannot deduct their contributions.

Here is a list of other 501(c) classifications for Tax Exempt Status.
http://www.irs.gov/publications/p557/ch04.html
Softball falls under 501(c) 7 Social and Recreational Clubs
if you click on the 501(c) 7 link and go down to the section about donations you will find that it says:
"Tax treatment of donations. Donations to exempt social and recreation clubs are not deductible as charitable contributions on the donor's federal income tax return."

 

[marriard]

Good Read....
However this is what the IRS says to be a 501(c) 3 is that you must do the following:
Exempt Purposes - Internal Revenue Code Section 501(c)(3)

You could stretch the "Fostering of National or International Amateur Sports Competition". However a regional TB club is not doing this. I suppose if we were not charging under privileged players any fees and it was in an effort to foster an after school program designed to stop kids form entering into delinquency, maybe...But that is not the typical MO for TB.

Absolutely you can be a 501(c) 3. Almost all the travel teams around here are and you want (c)3 status to allow sponsors to have tax deductions. Youth sports teams/league qualify:

"Exempt Purpose-To be exempt, an organization must have one or more exempt purposes stated in its organizing document. For example, youth sports leagues meet these criteria by offering amateur athletic programs for children under the age of 18."

Here are two good article on the subject and how to get it done properly:

Most Youth Sports Organizations Don’t Have 501 (c) (3) Tax Exempt Status | Sports Insurance Blog

Nonprofit Law: 501 (c)(3) for a Girls Softball Team, irs publication 557, www irs gov

If you don't want to do all the paperwork yourself, a company such as Kids Non Profits USA will do it for you (for a cost) - Fees - Kids Non Profits USA-Tax Exempt Applications for Youth Organizations However - doing it yourself is easy - just time consuming.

Most importantly, to stay exempt funds raised have to officially go to the 'team' and not an 'individual'.

 

[crystlemc]

All the major orgs in Ohio are 501c3.

 

[nanotech14]

as far as parents,go to a local orphanage and adopt 11 girls and you dont have to worry about parents