Pole Vault Non Profit Support

[ADTF Academy]

I have been working on a potential scheme to provide financial support to elite and emerging elite pole vaulters in the US.

My initial question to the Pole Vault community is if there was a non for profit organization in place that you could support to help provide purses and rewards to pole vaulters in the US for their performances would there be people out there that would support such an organization with donations.

In the next couple of days I will be posting more information on the structure and thoughts for people to look at and discuss. The current basic structure that I put together would need to raise roughly $100,000 based on performances in 2008 for those that hit the "B" standard and above for men and women.


Example of Support x person does a donation of $200.00 or x company provides the $2,000 sponsor for the male with the 5th most points as either advertising expense.

We all cry things need to be done but who is going to step up to do something about it. Due to the nature of the organization it would be non profit in the sense the money in would go out to athletes.

[UWvaulter]

Check out Publication 557 and form 501c3. Publication 557 will help you identify if the donor can write off the contribution.
http://www.irs.gov/publications/p557/index.html

Also, tax exempt donations cannot be used to provide advertising.

[ADTF Academy]

That is the issue at hand. If it is straight cash to athletes than it will not qualify. It is provides equipment and training opportunities than it could qualify.

Perfect example USATF is a non profit and gives out prize money as long as it is for a competition setting. The season long points scoring would be a competition in itself.

Worked in the tax world for 3 years prior to taking up coaching. The ultimate structure is still up in the air depending on potential backing and what could be done.

[rainbowgirl28]

I don't think making yourself a non-profit will make the donations start rolling in.

[VaultLove]

I don't think making yourself a non-profit will make the donations start rolling in.

Additionally, the national unemployment rate rose to 6.7% recording a loss of 555,000 jobs in November. South Carolina (8.4%) and Rhode Island (9.3%) have high rates. I think this may have been a good idea with successful results a few years ago, Maybe 2003- 2006 when the economy was thriving. Not a lot of loose change hanging around. Athletics in general will take a hit.

good luck to you