I donated 40 OKW Points to Charity....

[rombar]

and the charity sold the raffles for $10 a chance or $20 for 3 chances.....THEY MADE $1760 DOLLARS!!!!!!

 

[rsschneck]

That is great!

I bet it was fun to see how much money that brought in!

I was thinking about donating some OKW points for my DD school auction. Will you be writing off the donation on your taxes? Any idea if that is allowed and what the write off would be ( $10 per point) or your maintenance fees only?

 

[Dancind]

This is actually a really good idea. I'm thinking about doing this for my daughter's dance team. They aren't a charitable organization, so I think I'd ask for $6 a point to cover my costs. Still, they should be able to raise about $2000. Diana

 

[Mic]

I may be doing this to help my daughter's cheerleading squad raise money for practice mats. I don't know of anything else that "raffles" as well as a trip to Disney World! I booked a room for my daughter's band teacher and his family with points this year, and we are surprising him with it at the next band concert as an end-of-the-year gift from the entire 8th-grade band. I am hoping we can get enough parents to donate money towards his hopper tickets(send some pixie dust, please!), as I have already told his wife the plan!

 

[jarestel]

This is a great thing to do. Most of us that go to WDW 2, 3, or 4 times a year tend to forget that many people may only get to go once in their entire lives! Nice job!

 

[Beth]

I think this is a great thing..

But I'm curious.

How did they present the reservation options to those purchasing tickets? Did they actually go as far as to provide point charts, or did they just give a few different scenarios?

Did you agree to give them a "few more" than 40, if the winner's desired ressie was a few more than 40?

I believe that the recent discussion concerning donations to the "Give Kids the World" organization said that the charity was willing to give a "charitable contribution receipt" for the cost of the reservation at the rack rate. Do you think that's fair and acceptable? Or should it be based more on the (perceived) value of our points?

I'd just like to hear a few more details - thanks in advance!

 

[Dean]

That's great and noble however all should be aware that this isn't tax deductible.

 

[rombar]

I wasn't thinking at all about the tax deduction when I made the gift - I was thinking of how much money they could possibly make with it (for my son's school - he has down syndrome).

For the person with the question regarding how they were giving out the points, I made a small chart to be included that showed the dates that I could make reservations using 40 points for 5 nights in a studio and dates that I could give 4 nights in a studio. I asked that the winner give me two possible scenarios for dates they would be willing to go. The 40 points works out exactly even.

 

[vanstoj]

I am donating 4 mights at OKW to my church for an auction to support missions. I amcurious though as to why Dean thinks that this in not deductible as a charitable contribution. Outside the issue of how you value it ( your cost, rental value of points or rack room rate, I don't know why it wouldnbe deductible so long as it was given to a 501(c)(3) organization.

 

[Dean]

Originally posted by vanstoj
I am donating 4 mights at OKW to my church for an auction to support missions. I amcurious though as to why Dean thinks that this in not deductible as a charitable contribution. Outside the issue of how you value it ( your cost, rental value of points or rack room rate, I don't know why it wouldnbe deductible so long as it was given to a 501(c)(3) organization.

Only the ownership is tax deductible and only the fair market value, essentially what you could actually sell it for. There's no way to legally deduct a single stay unless you're giving the entire ownership.

 

[vanstoj]

Dean, thanks. You are right. I checked publication 526 of the IRS and they have an example of this issue. It always helps to learn something new. Thanks for the info.