Donations are tax deductible under
Section 170(b)(1) and as defined in Section 170 (c)(1) of
the Internal Revenue Code.
IRS regulations require that the donee
organization supply a statement to the donor
estimating the value of any goods or services
provided for contributions of $75 or more. It has
been determined that the rights and privileges that
members may exercise frequently during the membership
period, such as free admission to a museum or reduced
fare sailing experiences, may be fully tax deductible
if they are given as part of an annual membership
offered in return for payment of $75 or less. The
value of membership privileges above $75, such as the
framed Eldridge print plus reduced guest passages can
not be deducted.
In light of these regulations, please use this
information regarding that amount of your Ernestina
contributions that are tax deductible:
Membership Type |
Cost |
Deductible |
Subscribing Member |
$25 |
$25 |
Crew Member (individual) |
$50 |
$50 |
Crew Member (family) |
$75 |
$75 |
Shipmate |
$250 |
$205 |
2nd Century Club |
$1,000 |
$910 |
|