Hi Everybody,
With the wonderful amount of support that we have been getting, you can imagine that there are a number of questions regarding donations that have come up. So here is a quick summary of some of them. Feel free to call me at 598-6106 if you have any questions or send me an email.
1) I missed the big print sale. Can I still buy a print?
Yes, the prints are $100 plus sales tax for a total of $106.10. You can click here for an order form, call Steve Castle directly at 593-9226 or get them over at Kemper's Gallery. Kemper's can take credit cards and has two versions framed up with 15% off on the framing. Please make checks to ABCA. If you would like a print sent by mail please include an additional $8.00 for shipping and handling.
2) Is the print purchase tax deductible?
Yes, under the rules of purchasing items for tax deductible contributions, $80 of the cost of the print can be used as an IRS tax deduction. Since TOSC is acting as our fiduciary agent, your tax forms should reflect them as the recipient.
3) Can I make donations without buying a print?
Yes, we can take any amount of donation. If the money is directly donated without stipulation, it is immediately tax deductible. For larger sums, folks often want to be sure that it is only going to be used on a land purchase. In this case, the money is held in an escrow account and a tax deduction can not be taken until escrow is broken and actual land is purchased. Pledges are welcome as well.
4) What happens if everything falls through and no land is purchased?
In the unfortunate event that we are unable to secure any of the land, money held in escrow will be returned to the donors. Money from the print sales and other non-stipulated donations is actively being used in the project process. I am sure that we would not give up until all our funds were used up and there wasn't any hope of saving the land. Any remaining funds would be used for on-going maintenance and preservation of acquired property and trails.
5) How much overhead is there in ABCA?
We are an all volunteer group that operates out of our homes, so the overhead is extremely low. The sale of the prints has yielded a very nice return so far and will be a continual source of income. The expenses that will be ongoing are copier fees and stamps. By using email for our updates, we are maximizing the amount of money raised that can be used for land/easement purchases. We have very good records of the donations and expenses that are available for review.
6) How does our relationship with the Trails and Open Space Coalition (TOSC) work?
At this point, we are just beginning
the process of becoming our own IRS tax deductible 501C(3) organization.
In order to provide a tax deductible location for our donations, TOSC is
acting as our fiscal agent. They are providing valuable assistance
in our fundraising efforts and as a consultant as we work our way through
the open space process. TOSC receives a 2% cut on our donations for
their services.
Scot