SEABISCUIT'S LEGACY | Quid Pro Quo Gift
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Quid Pro Quo Gift

This is a partially deductible or quid pro quo contribution partly for goods or services we provide you. Quid pro quo donations made to IDA are partially tax-deductible. For example, if you give the IDA $100 and receive an event ticket valued at $40 in return, you have made a partially deductible contribution. In this example, the charitable contribution/deductible portion of the payment is $60.

In order to comply with IRS regulations about these partially deductible contributions:

  • The amount of the contribution that is deductible for federal income tax purposes is limited to the excess of the value of any goods or services received.
  • We will provide you with a good faith estimate of the value of the goods or services that you will receive.