It is Official
Miami Valley Fly Fishers Educational Outreach, Inc.
. . . dedicated to the improvement and preservation of fly fishing in Ohio
Miami Valley Fly Fishers
The new Miami Valley Fly Fishers Education Outreach, Inc. has been approved by the IRS. We can now start receiving tax deductible donations and apply for grants. This will allow us to do great things through the Educational Outreach. We welcome new and increased support of our current programs, Healing Waters, various Veterans programs, Mad River Clean Up, and the opportunity to get involved in new exciting challenges.
Make your donation checks to: MVFFEO. Your cancelled check is evidence for your tax return deduction. If your donation exceeds $250, we will send you a written acknowledgement for tax purposes at year-end. Make sure you give us your name and address with your check to receive the acknowledgment.
You can give a donation with a designation that it must be used for a specific program we are involved in that you support. To place a designation on a donation, simply put the name of the program on the memo line of your check. The programs you can designate are: Healing Waters, Veterans, River Clean Up, Youth, Fly Tying, and Rod Building. Our President has expressed wishes to look into getting involved with Casting for Recovery. If the club decides to pursue this new program, you will be able to also designate your donations to the program.
The Educational Outreach can also accept noncash donations, your good quality fishing equipment and fly tying materials to be used in our programs. We will give you a written acknowledgement, but assigning a Fair Market Value to the items for your tax deduction will be your responsibility. This works similar to donations to other charities like Goodwill and the Salvation Army.
If you are signed up as a volunteer for one of the Educational Outreach programs, your mileage to and from the program can be a Charitable tax deduction. You must document for your tax records: the date, what the event was for, where you are traveling to and from and the mileage. Travel expenses such as transportation meals and lodging are deductible if there is not a significant element of personal pleasure, recreation or vacation in the travel. The standard mileage rate for 2017 is 14 cents per mile.
The Educational Outreach can also be designated as a beneficiary in your estate. Consult with your estate planner or attorney with details on the effect on your personal estate. We are working on setting up an endowment fund to assist with the estate planning; the Educational Outreach will be the sole beneficiary.
If you have any questions on the new MVFFEO, please contact me or catch me at a meeting. I want everyone to understand the great opportunities we have ahead of us with the new Organization.
Sam Brown, CPA
Sam Brown, CPA, Inc.