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What is the difference between philanthropic giving and event sponsorship?

April 26, 2017difference event giving philanthropic sponsorship

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What is the difference between philanthropic giving and event sponsorship?

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A. A philanthropic gift is an outright gift that is usually 100% tax deductible. Event sponsorship (e.g. auction) is a gift for which the donor receives some kind of benefit. For tax purposes, the value of the benefit must be subtracted from the gift.