Can I claim $5,000 in personal tax deduction for a "raffle" fundraiser for a 501c organization?
I personally solicited and collected $3,000 worth of prizes (donated by businesses), hosted a dinner (at $1,000 cost), and raised $6,000 via raffle and dinner tickets. Therefore, net donation to 501c was $5,000.
Can I claim $5,000 in personal tax deduction for a "raffle" fundraiser for a 501c organization?
You can't deduct the $3,000 donated by others, you can't deduct amounts you solicited but paid by others, you can deduct your "out of pocket" costs associated with hosting the dinner.