SCHOLARSHIP DONATIONS

 

DONATIONS BY INDIVIDUALS

 

  1. The Association of Aviation Ordnancemen Educational Foundation (AAOEF) is a Charitable Organization under section 501(c)3 of the Internal Revenue Code.  Depending on you individual tax situation your donation may qualify as a charitable tax deduction.

1.      To qualify for a charitable deduction on your income taxes you should make your check out to the AAOEF and send it to the address found later in this article.

a.       For donations less then $250.00 your name will be listed in the Red Shirt as a donor.  If you desire a receipt, for your records, you must ask for it when you send in your donations.  

b.      For donations of $250.00 or more the AAOEF will send you a receipt, for your records, and your name will appear in the Red Shirt.

 

2.      If you desire to make a donation when you renew your membership you may do so.  There are two ways to do this; please choose the one that best fits your desires. 

a.       Send two checks to the AAO’s Treasurer.  One check made out to the AAO in the amount of your dues and the other made out to the AAOEF in the amount of your donation.  The information in 1.a and b above will apply to the check you make out to the AAOEF and the AAO’s Treasurer will forward it to the AAOEF.  

b.      Send one check to the AAO’s Treasurer for both your dues and your donation.  The AAO’s Treasurer will forward your donation to the AAOEF.  The AAO keeps these funds in its Scholarship Account, which is a segregated account, used only for this purpose.  Donors will have their names appear in the Red Shirt but no receipt will be issued.  In most cases the IRS does not allow you to take a charitable deduction on your income taxes when donating in this manner.

 

3.      If you desire to make a donation thru your Chapter and would like the ability to use it as a charitable tax deduction, just make your check out to the AAOEF.  Your Chapter will forward your check to the AAOEF as part of their donation.  The information in 1.a and b above will apply.

 

4.      For those of you that have an employer that offers a benefit of matching funds for your charitable donations, please consider identifying the AAOEF as a choice for this.  If you have any questions on this please consult your Benefits Advisor or Human Resources Manager.

 

5.      For Donations made thru your Chapter, if you receive anything for your donation (goods, services, or money) you cannot use your donation as a charitable tax deduction on your income taxes at this time.

 

When making donations directly to the AAOEF please use the following address:

            LCDR Richard J. Grass USN Ret.

            AAOEF Treasurer

            613 Tennis Avenue

            Ardsley, PA 19038-1704

           

DONATIONS BY CHAPTERS AND THE AUXILIARY

  1.  

  2. The AAO Bylaws in ARTICLE XI, Section 8 state “Funds received by the Association from donations or from other means, that are intended to support scholarships, shall be transferred to The Foundation without delay (normally considered to be within 90 days from receipt)”.  Since this is a requirement placed upon you by the AAO you must follow it.  How you accomplish this is important to you as well as the AAOEF.

     

1.      Some of you have created a separate account for scholarship donations so that   accounting for the funds is easier for your Treasurers.  If this is the case you may keep an agreed upon amount in the account to keep it open.  To accomplish this the following must be done:

a.       Send the AAOEF Treasurer a letter stating that you have this account indicating the amount you desire to keep in it to keep it open.

b.      In return the Treasurer will send you a letter agreeing to your request. 

 

  1. The Foundation must meet certain IRS requirements to maintain the charitable status it has been assigned.  The requirement in the AAO Bylaws is there to help the Foundation meet these IRS requirements.  The Foundation asks that you continue your support of the Scholarship Program while making some changes to the way you give your donations.  Rather than receiving a big donation at the convention it is better for the Foundation to receive smaller donations from you throughout the year, this is due to the accounting procedures that the Foundation must follow.  Listed below are the specifics on how to make your donations:

     

1.      All checks should be made out to the AAOEF and sent to the AAOEF Treasurer. When sending in your donations please include a note stating how the funds were obtained.  This is necessary so that the proper accounting can be done.

a.       An example would be 50/50 $20, bake sale $15, car wash $25, member donations $50 for a total of $110.

2.      Individuals wishing to support the Chapter/Auxiliary when making a donation and who would like the added advantage of possibly having the ability to use this donation as a charitable tax deduction on their income taxes should make their check out directly to the AAOEF.

a.       The Chapter/Auxiliary will send these checks to the AAOEF along with the Chapter’s/Auxiliary’s check.

3.      At the Chapter level, individuals cannot claim a tax deduction if they receive anything for their donation.

a.       In this case the individual should make their check out to the Chapter and the Chapter should include the money in the check they send to the AAOEF.

 

  1. At the out going Board of Directors Meeting in 1999 the Board provided the following clarification concerning the 10% Rule, “All items purchased from Chapter 1 for resale by other chapters, 10% of their profits must be returned to the Association to be deposited in the Scholarship Fund.  In addition, any use of the Association’s logo all or in part, to include the name or part thereof, requires that 10% of the profits from the sale be returned to the Association for deposit in the Scholarship Fund.”  Since this is a requirement placed upon you by the AAO, payment should be sent to the AAO Treasurer.

     

1.      The AAO Treasurer will deposit the funds in the scholarship account for safe keeping and accounting until they are transferred to the AAOEF.

 

  1. For the Auxiliary only, the following information is provided for funds raised at the Convention:

     

1.      Individuals paying by check for items that they bid on during the auction, silent auction, etc. should make the check out to the AAOEF.

a.       The Auxiliary will turn these checks over to the AAOEF Treasurer at the convention.

2.      Individuals paying by cash for items that they bid on during the auction or silent auction should pay the Auxiliary directly.

a.       The Auxiliary should place the funds in their scholarship account until the proper accounting is complete.

b.      Upon completing the accounting process all funds collected in this manner will be sent by separate check to the AAOEF indicating how the funds were raised.

          3.   Funds raised during the raffle should be paid directly to the Auxiliary.

a.       The Auxiliary should place the funds in their scholarship account until the proper accounting is complete.

b.      Upon completing the accounting process all funds collected in this manner will be sent by separate check to the AAOEF indicating how the funds were raised.

4.   For funds raised by other means follow the information provided in B 1 thru 3 above.

 

  1. It is important that the Chapters, Auxiliary, and individuals be recognized for their donations in support of the scholarship program and the Foundation.

     

1.      Chapters will be recognized by having the Chapter’s name appear on the donor list, in the Red Shirt, following each donation.  For donations made at the convention their name will be in the General Business Meeting Minutes and the Red Shirt.

2.      The Auxiliary will be recognized by having the Auxiliary’s name appear on the donor list, in the Red Shirt, following each donation.  For donations made at the convention the Auxiliary’s name will be in the General Business Meeting Minutes and the Red Shirt.

3.      Chapters and the Auxiliary should add up all donations given between 1 June and 31 May and report in their annual report to the Association, that is given during the General Business Meeting, that they raised $(the amount) “in support of the Foundation throughout the year”.

4.      Individuals who contribute thru the Chapter/Auxiliary and make their checks out to the AAOEF will be recognized in the following manner:

a.       For donations less then $250.00 their name will be listed in the Red Shirt as a donor.  If they desire a receipt, for their records, they must ask for it.  The Chapter/Auxiliary should forward their request to the AAOEF when sending in their donation to the AAOEF.

b.      For donations of $250.00 or more the AAOEF will send them a receipt, for their records, and their name will appear in the Red Shirt.

 

 When making donations directly to the AAOEF please use the following address:

            LCDR Richard J. Grass USN Ret.

            AAOEF Treasurer

            613 Tennis Avenue

            Ardsley, PA 19038-1704

           


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