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Tue, 9 May 2006 10:07:33 -0400 |
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Our small community is trying to raise private donations to be used to
purchase the community's most historically significant house, which is on
the market right now. The tentative plan is to have residents make donations
to our historical society -- for the tax benefit of a doantion to a 501(c)3,
then the society buys the house and donates it to the town (because it is
generally agreed that the society cannot afford to maintain the house).
I have two questions about this:
1 -- One of our (retired lawyer) board members has raised some questions
about the risk ti the society because of the tax benefit to donors if their
donation is made with the full understanding that the house will immediately
go to the town. In other words, the society is being a conduit for the funds
just for the tax benefit. A pro bono lawyer is looking into this for us, but
other local attorneys have said it doesn't matter what we do with the
donations.
2 -- Assuming things go as abive, we need some wording for the receipt to be
given to the donors, to indicate that they have not received any goods or
services in exchange for their donation. I searched the archives for
"donation receipts" buy did not find the precise form for which I was
searching. I also checked the museum-forms book but a hasty spin through did
not give me the answer either.
Can you help?
Thanks.
Lynne
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