Dan Maher ’76 has been diligently pursuing the issue of tax deductibility and it appears there may be a more favorable interpretation.
You may recall that we have said only a portion of gifts greater than $25K may qualify for tax deductibility. Based on past cost and financing projections, we now expect a significant portion of our personal donations will qualify as tax deductible charitable contributions.
We will not have a definitive answer until the Delta Chi Educational Foundation completes their process to establish our Building Funding Account, which we hope to complete before July 1. Our architect has prepared floor plan drawings delineating what space we believe meets the IRS rules for tax deductibility, what does not and what areas can be treated as common area. We have engaged John Christopher of Fraternal Law Partners to prepare a tax opinion in support of our position.
Based on past practice, we anticipate the Foundation will accept this opinion with no more than minor changes. Then the Foundation will setup an account for the Michigan chapter. It is anticipated the deductible portion of your donation would be sent directly to the Michigan chapter Educational Foundation Building Account. We will inform all brothers about what to do as soon as everything is finalized.
We all owe Dan Maher a debt of gratitude for his leadership work on the tax deductibility issue!
In the Bond,
Howard Gandelot ’64
Team Leader
Alumni Association’s New Chapter House Campaign Team
[email protected] 912-655-4651
