Greek Chapter Fund Raiser

[mholmansr]

Originally posted by ladygreek
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.

Yes that is correct, the obligation is put on the type of fund as opposed to having to change your already established 501c , the funds just are seperated as some chapters may have more than one a/c for specific purposes