Gifts, Contributions, or Donations to Chapter 186
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Last update: 7 May 05
National Capital Chapter 186 Inc. Experimental Aircraft Association is a Virginia
based nonprofit corporation recognized by the IRS as tax exempt as a section 501(c)(3)
organization. Contributions are deductable as charitable contributions on the donor's
federal income tax return.
For amounts over $250, the IRS requires a receipt and Chapter 186 will be most happy to
supply the proper substantiation of a charitable contribution.
When you have a donation for the Chapter or if you have questions about making a
donation, please contact one of the Officers or Directors of the
Chapter.
FREQUENTLY ASKED QUESTIONS
- What types of donations are there? Two, fully tax deductable donations of cash, goods,
or services and partially tax deductable quid pro quo contributions.
- Quid pro quo contributions? They amount to the difference between donation and what the
cost of the donation was to the Chapter. An example: a T-shirt costing $6 is 'sold' for
$10. The difference, $4, would be the quid pro quo amount that you could claim.
- What types of things can be donated? Basically, anything of value... we would prefer,
but do not require, a donation be aviation related. For example, aircraft, airports,
engines, tools, golf carts(used during fly-ins), aircraft plans, aviation art, etc.
Things, in general, which could be sold and the monies returned to further the Chapter's
activities.
- When would I get my receipt? A standard form is issued at the time of donation for
substantiation of a charitable contribution.
- If I donate a tool to the Chapter, can I still use it? Maybe yes, maybe no. It depends
on whether the tool is to be sold or placed in the chapter tool crib, and whether you
are a member in good standing. If the tool is retained and you are a member then the
answer becomes 'yes'... unless another member has borrowed the tool.
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