and receiving no tangible benefit. You can deduct most of the donation.
If you receive some tangible benefit ( like a sponsorship promotional message), only a small portion of the donation is tax-deductible.
I know everyone will want to argue with me, so consult with your CPA.
If I purchase a $100 Charity dinner ticket and receive a $50 meal and $30 of "entertainment ( music/orchestra, attendance gift, etc) then only $20 of the ticket price is tax-deductible. |