If the ticket price of a fundraising dinner exceeds the cost of the dinner, can donors claim a tax deduction?
The cost of a ticket to a fundraising dinner is not considered a gift. Whether or not the payment exceeds the market value of the meal or entertainment, a material benefit has been received in exchange for the purchase price of the ticket. No part of such payment can be treated as a donation or gift where the full amount must be paid in order to attend a function. NOTE: In certain circumstances the cost of attending fundraising events such as fetes, balls, gala shows, dinners, performances or similar events can be considered a tax deductible contribution.
Related Questions
- If the ticket price of a fundraising dinner is split into a dinner component and a gift component, can donors claim a tax deduction for the gift component?
- If the ticket price of a fundraising dinner exceeds the cost of the dinner, can donors claim a tax deduction?
- Is the cost of attending a fundraising dinner (or similar function) a tax deductible gift?
