FISCAL RESPONSIBILITY
1. Proceeds from the event must be received by the Pat Tillman Foundation no later than 30 days after the event.
2. Use of funds received will be determined solely by the Pat Tillman Foundation.
3. Events held to benefit the Pat Tillman Foundation are required to keep expenses at a minimum. Event organizers should budget no more than 25% of gross revenue to cover expenses.
4. Federal tax laws prohibit third party fundraising organizations from using the Pat Tillman Foundation Federal Tax I.D. and 501(c)(3) status when purchasing goods or services from suppliers or vendors.
5. Only checks payable to the Pat Tillman Foundation will be provided with a tax-deductible acknowledgement letter in accordance with IRS and state regulations. Checks payable to the event or other source can be sent a general thank-you letter with no value attached, if participant data is provided.
6. In order to provide proper acknowledgements, the event coordinator is required to provide the Pat Tillman Foundation with a list of event donors including name, address, donation amount, and value of goods/services received within 30 days after the event. Please contact the Foundation for assistance with tracking donor information and distinguishing between cash and in-kind sponsors.
7. In accordance with IRS guidelines, all tickets, invitations or entry forms must disclose the amount of goods and services received by each participant and state the portion of the contribution that is tax-deductible. Example: “90% of all proceeds will benefit the Pat Tillman Foundation.”
8. Event organizer is responsible for complying with all IRS regulations when planning the event.
9. Opening a bank account in the name of the Pat Tillman Foundation is strictly prohibited.
10. All expenses associated with hosting the event are the responsibility of the organization responsible for the event. Any invoices submitted to the Pat Tillman Foundation will be forwarded to the event organizer.