5 ms·

The OatMeal facebook page said that second $33,333 donation pushed it to the finish line.

8ig8 14y ago
Oftentimes donation in support of museums would be tax deductible since the recipient in a 501(c)3 non-profit. I don't believe this is the case here. Regardless of status, since the 'donor' is getting something in return it's a moot issue. Edit: Thanks jaredsohn. I wondered as I typed that. One of those words I say, but rarely write.
- jaredsohn 14y ago
  mute -> moot
- sciurus 14y ago
  The money is goin gto a nonprofit. http://www.teslasciencecenter.org/about/ http://www.teslasciencecenter.org/about/
  - 8ig8 14y ago
    Even though it is a non-profit, I _think_ the donation is not considered a tax write-off because the donor is receiving something in return: a photo, a sticker, a T-shirt, advertising (blog post).
    - reitzensteinm 14y ago
      The companies should be able to deduct it fully. The museum aspect, non profit status etc doesn't matter. It's a legitimate marketing expense - they're paying the money to get on the front page of The Oatmeal, the same as if it went straight in The Oatmeal's pockets.
    - dpeck 14y ago
      it depends and the amount can vary. I buy season tickets for my colleges football team and the seats I request have a minimum donation value required with them. all goes to a 501 3c, but if I recall its deductible at 70% of donation value.
    - adorton 14y ago
      Wouldn't it be like making a pledge to a local public broadcaster? You get gifts for those, but they are still tax deductible.
      - cschmidt 14y ago
        Like jamesmcn says, you have to deduct the fair value of the gifts from your donation. Usually the gift receipt says the amount.
    - jamesmcn 14y ago
      The last time I checked, if you receive something for your donation, you have to subtract the value of whatever you received from your total donation amount. You can then claim that difference as a deduction on your taxes. Example: Donate $100 to PBS and receive a $10 CD. Subtract the value of the CD from the donation: $90. You can claim a deduction of $90 on your taxes. But in the case of a corporation, treating the whole thing as a marketing expense is probably easier and would yield the same result. [I'm not a lawyer or tax accountant or any other kind of authority on taxes. Check with the IRS or competent council before filing your taxes!]
      - jamesmcn 14y ago
        I'm also bad at spelling.

8ig8 14y ago

Oftentimes donation in support of museums would be tax deductible since the recipient in a 501(c)3 non-profit. I don't believe this is the case here. Regardless of status, since the 'donor' is getting something in return it's a moot issue. Edit: Thanks jaredsohn. I wondered as I typed that. One of those words I say, but rarely write.

jaredsohn 14y ago
mute -> moot
sciurus 14y ago
The money is goin gto a nonprofit. http://www.teslasciencecenter.org/about/ http://www.teslasciencecenter.org/about/
- 8ig8 14y ago
  Even though it is a non-profit, I _think_ the donation is not considered a tax write-off because the donor is receiving something in return: a photo, a sticker, a T-shirt, advertising (blog post).
  - reitzensteinm 14y ago
    The companies should be able to deduct it fully. The museum aspect, non profit status etc doesn't matter. It's a legitimate marketing expense - they're paying the money to get on the front page of The Oatmeal, the same as if it went straight in The Oatmeal's pockets.
  - dpeck 14y ago
    it depends and the amount can vary. I buy season tickets for my colleges football team and the seats I request have a minimum donation value required with them. all goes to a 501 3c, but if I recall its deductible at 70% of donation value.
  - adorton 14y ago
    Wouldn't it be like making a pledge to a local public broadcaster? You get gifts for those, but they are still tax deductible.
    - cschmidt 14y ago
      Like jamesmcn says, you have to deduct the fair value of the gifts from your donation. Usually the gift receipt says the amount.
  - jamesmcn 14y ago
    The last time I checked, if you receive something for your donation, you have to subtract the value of whatever you received from your total donation amount. You can then claim that difference as a deduction on your taxes. Example: Donate $100 to PBS and receive a $10 CD. Subtract the value of the CD from the donation: $90. You can claim a deduction of $90 on your taxes. But in the case of a corporation, treating the whole thing as a marketing expense is probably easier and would yield the same result. [I'm not a lawyer or tax accountant or any other kind of authority on taxes. Check with the IRS or competent council before filing your taxes!]
    - jamesmcn 14y ago
      I'm also bad at spelling.