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    LAGirl's Avatar
    LAGirl Posts: 3, Reputation: 1
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    #1

    Mar 22, 2007, 05:07 PM
    501c3 for a single event
    Is it possible to form a 501c3 non-profit for the purpose of a single event? Ie, to put on a single fundraising event (ie a theatre production which takes place over 8 performances with an opening night silent auction/raffle) where donations can be accepted to cover overhead expenses while the net profits are donated to charity; with donors receiving tax credit for their donation?
    shygrneyzs's Avatar
    shygrneyzs Posts: 5,017, Reputation: 936
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    #2

    Mar 22, 2007, 05:11 PM
    Forming a 501c(3) is a major undertaking for just one event. Wouldn't it be easier to find an existing organiation and run this fundraising through their organization?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Mar 26, 2007, 11:00 PM
    Agreed. 501c(3) setups can cost a bundle to do properly.
    LAGirl's Avatar
    LAGirl Posts: 3, Reputation: 1
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    #4

    Mar 26, 2007, 11:09 PM
    THanks to both!
    I am trying to find one that's set up already. Another option someone brought up to me is the Charitable Gift Fund though I don't know if there's any way to repay my overhead costs out of something like that or not...
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #5

    Mar 30, 2007, 12:03 PM
    I recommend you get a professional to run this project for you. There are too many pitfalls for an amateur.
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