reported on turmoil within The Giving Back Fund in part sparked by the question of whether gifts to Hamlin’s GoFundMe are charitable donations. Marc Pollick, CEO of The Giving Back Fund, disputed the accuracy of Sportico’s reporting in a statement and said the organization’s leadership “has always operated ethically, appropriately, and legally.”
Experts say the question of whether the donors can claim a tax deduction for what they gave to the GoFundMe after his injury may depend on decisions by the IRS. Philadelphia attorney Don Kramer, who edits the website Nonprofit Issues, said the IRS has the discretion to retroactively recognize Hamlin’s nonprofit as tax exempt. That’s despite the fact, Kramer said, the cut off for applying for retroactive status is usually 27 months after an organization is founded.
GoFundMe confirmed that they continue to hold the funds given to Hamlin’s campaign and said that fundraisers specify when they benefit charitable organizations.
Source: Education Headlines (educationheadlines.net)
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