Friday, June 9, 2017

Answers to Fundraiser FAQs

Frequently Asked Questions in the Spring Fundraising Campaign

Q1:  Can this be a tax write-off?

A:  No. The contributions from the crowdfunding campaign page and website go to my business account, De-Stress Vets, LLC.  It is an LLC, not a 501c entity.  Only donations made to 501c entities (official non-profit legal status) are tax-deductible.  That is why we use the language “contribution” instead of “donation” whenever we can, to try to avoid the confusion.  To help clarify, I have put several notes on the HH blog and website explaining contributions are not tax-deductible.


Q2:  What is the difference if I contribute through the crowdfunding page or the website or write you a check?
A:  cost of fees and availability of perks.  Here’s a quick breakdown:
Donation location
Pros
Cons
Crowdfunding page

You can choose a “perk” from various packages. 

High visibility of who is donating and amount donated

highest % of your contribution goes to pay fees of using the site and payment processing fees.

I receive the money 2+ weeks after the campaign has ended.

If a perk is chosen, less of the overall money goes directly to the Hospital Handbook Project costs.
Hospital Handbook Project website
Contribution goes directly to Hospital Handbook Project costs.

I receive the money in the business bank account within 2 weeks of your contribution.  [This is a shorter time than if you contributed via the campaign page]
A small % of contribution goes to processing fees.



No comments:

Post a Comment