<VV> More on Idea number 1

[John Dozsa]

Good idea Bob but ....

CORSA is a non-profit but it NOT, repeat NOT, a charitable organization. 
  Therefore any contribution made to CORSA will NOT, repeat NOT, be 
deductible on personal federal income taxes.  Similarly any estate 
contributions will NOT have any favorable tax treatment.  Give any money 
you want to CORSA but don't expect any tax benefits.

CPF is charitable organization.  Contributions to it have favorable tax 
treatment.  But because of the way CPF is chartered and it's documents 
submitted to the IRS requesting charitable status there is no legal way 
contributions to CPF can benefit CORSA.  At best contributions to CPF 
could reduce any subsidy of CPF by CORSA.

John Dozsa

> Subject:
> <VV> More on Idea number 1
> From:
> BobHelt at aol.com
> Date:
> Sun, 15 Feb 2009 17:52:00 EST
> To:
> corsabod at corvair.org, virtualvairs at corvair.org
> 
> To:
> corsabod at corvair.org, virtualvairs at corvair.org
> 
> 
>  
> Set CORSA up as a non-profit so that contributions  can be made to it. Then 
> ASK that members include CORSA in their wills. Ask for  money to be left to 
> CORSA. Set up endowment programs like the charities do who  receive large cash 
> investments and return small payments over time to the  investors. Then, present 
> the financial problems to the members and again, ASK  for contributions from 
> current members (while still alive). Run a regular  program of asking for 
> contributions just like PBS does and all the charities do.  Ask the Chapters to  
> help.