When I buy a ticket for a charitable event, I always get a tax receipt for part of my ticket price. How come the Stephen Lewis Foundation doesn do the same?
A. As you know, the Stephen Lewis Foundation does not run its own events. Instead, we rely on hundreds (perhaps thousands) of community event organizers to put on events and send us the money raised through their ticket sales. Other charitable organizations put on their own events, but usually only two or three a year. When they issue a ‘partial’ tax receipt for a ticket, someone on their staff will have had to assess the fair market value of everything associated with that event. In order for the Foundation to issue a ‘partial’ tax receipt for tickets, the fair market value of every component of the event must be determined – even if everything has been donated – because the Income Tax Act requires that the “total amount of all benefits provided to the donor” be taken into account. So, let’s take the example of a concert.
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