Welcome to Law-Forums.org!   

Advertisments:




Sponsor Links:

Discount Legal Forms
Discounted Legal Texts


Corporate Sponsorships And Youth Sports

Corporate Law Discussions

Corporate Sponsorships And Youth Sports

Postby Destrey » Wed Dec 07, 2016 12:55 am

What rules are there governing corporate sponsorships given to non-profit youth sports teams? I am involved in with a new team, and there is huge disagreement how corporate sponsorships should be treated. If the sponsor is making a tax-deductible donation, and receives the tax ID number, should the donated money be put into team funds for team use, or can a portion of the amount be used to reduce the fees of the family who worked to bring in the sponsorship? Where can I find information on this?
Destrey
 
Posts: 57
Joined: Tue Jan 07, 2014 3:14 pm

Corporate Sponsorships And Youth Sports

Postby Jamilah » Wed Dec 07, 2016 1:28 pm

If a portion is given to the credit of the family then that family would be taxed on the income as compensation and the sports team would need to file the 1099-misc return as to the amount of the compensation of the professional fund raiser(the family).

www.irs.gov/pub/irs-pdf/i1099msc.pdf which is the IRS instructions

for form 1099-Misc Harvey Mechanic Attorney At Law [email protected]
Jamilah
 
Posts: 37
Joined: Sat Jan 11, 2014 10:54 pm

Corporate Sponsorships And Youth Sports

Postby Corwynn » Thu Dec 08, 2016 5:29 pm

What rules are there governing corporate sponsorships given to non-profit youth sports teams? I am involved in with a new team, and there is huge disagreement how corporate sponsorships should be treated. If the sponsor is making a tax-deductible donation, and receives the tax ID number, should the donated money be put into team funds for team use, or can a portion of the amount be used to reduce the fees of the family who worked to bring in the sponsorship? Where can I find information on this?
Corwynn
 
Posts: 45
Joined: Tue Mar 25, 2014 4:56 am


Return to Corporate Law

 


  • Related topics
    Replies
    Views
    Last post