Food for thought.....Augusto has claimed repeatedly that he rescues dogs, donates funds to rescues, etc. I have served on the board of a couple of rescues, so I do have some experience in that area ;) To open/operate a rescue facility requires 2 primary components; 1) must be a legally registered business with the state its operating in. 2) Unless they have a huge private bankroll, requires 501(c)3 designation through the IRS to be able to accept public donations. Donations then have to be reported to the IRS, and have a paper trail on how and where those funds were used. If a rescue meets those criteria, it can apply for all kinds of available funding, both private and public, to help cover operating costs. Applying for 501(c)3 status costs $750.00 up front (if you expect to raise more then $10,000 in donations in any given year),and a yearly fee to maintain the 501(c)3 status. When you apply, that money is non-refundable whether the organization is approved or not. And believe me, the application process is long and requires a TON of detail, business plans, budgets, governing boards, etc. The organization has to be able to prove oversight, financial stability, governing bodies, etc. Now there are sites out there like Go Fund Me that do not care about things like being a legitimate business entity, or a registered non-profit, BUT the person opening that account has to provide person information. Unless the 2 criteria above are in place, whatever funds are raised would be considered personal income, and taxable. I would expect sites like Go Fund Me are required to report those dollars, and that persons information to the IRS....as they ARE a legitimate business and under scrutiny by probably more than one regulatory agency :) Just food for thought :)
Posted on: Sat, 16 Aug 2014 19:31:37 +0000
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