Quote:
Originally posted by Tom Earp:
happy owl, yes you write off the donations to your National if they go to the educational faoundation. This money is used for scholarships only not for the use of building a new house!
We are setting up a two tier fund raising!
Those that can afford to give for a new house is not tax deductable. Those that can give a little, this is going to an educational fund for scholarships for members that are deductable!
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How about if the money is used for education-related improvements to a chapter house? For instance, a room in the house is to be designated as a study area or a library. Technically speaking, any renovations to this part of the house can be classified as educational funds, right? I mean, someone out there must of realized that upkeep on a fraternity house requires some type of "slush fund", and in case any emergencies pop up, they wouldn't expect year to year rent income to be the only way to pay for these things.
AXPAlum