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And that fund must meet the requirements of a 501(c)(3). So again the tax-deductible contribution is made to a separate entity--the fund--not the chapter, and reporting is done separately on that fund.
But if you already have a foundation, then there is probably no need for a chapter to set up a separate 501(c)(3) entity/fund, and incur that administrative headache.
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DSQ
Born: Epsilon Xi / Zeta Chi, SIUC
Raised: Minneapolis/St. Paul Alumnae
Reaffirmed: Glen Ellyn Area Alumnae
All in the MIGHTY MIDWEST REGION!
Last edited by ladygreek; 10-11-2004 at 01:12 PM.
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