This is a tricky question. As to how you should report such donations and sponsorships, the answer is that "it depends."
If you're running your youth football and other sports activities through a single-owner LLC, and reporting your activities therefore on a Form 1040, Schedule C, you should probably report the donations and sponsorships as income on Line 1 of your Schedule C as "Gross Receipts." However, to the extent that you use all of the money and donated goods (as applicable) toward your primary sports activities -- and don't keep anything for yourself as "profit" -- then it seems perfectly reasonable to further deduct those same sponsorships and donations elsewhere on your Schedule C as expenses. If no exact category description exists to match your specific "expense" then you can just use the "Other Expenses" entry and type in your own designation. That would leave you with no profit (and no self-employment tax) showing; absent any other considerations.
As a visual aid for you, I've made a series of (3) screen-captures for you from an actual 2016 Schedule C, so that you can see what was just described. Please click on them to open.
In the TurboTax program, you could make any such entries in the interview portion of the program, such that the outcome would be to show Gross Income (donations plus sponsorship money) minus Expenses equals zero Profit from your LLC.
This would be one way to handle it. Also, if your LLC is really a not-for-profit, then you might consider changing your legal structure going forward, so that you register yourself as as a true nonprofit entity (in which case you would instead report you annual financial activities on a Form 990 or Form 990-EZ).
If your LLC has some element of a profit component (taxable income) to it, then the above discussion is still applicable, and would only apply to those items of sponsorship and donation. For example, if you received taxable coaching or referee income for football games, then you would show that as your self-employment LLC income, and the other nonprofit donations and such that we talked about above would be "zeroed" out.
Finally, here is a link to some (loosely-related) tax material that you may find interesting and informative.
https://www.councilofnonprofits.org/tools-resources/tax-treatment-of-income-received-corporate-spons...
Thanks for asking this important question, and good luck to you and the children.
