Originally Posted by
Psimet2001
Some of you know we have a rider on our team that Kicks Ass. Traveling to the Paralympic trials this year are going to be pretty financially strapping. There are a few of us who think that's BS. We want to run a raffle. All proceeds going to him. A few of us have items we will offer up. We will also take straight up donations. We know there will be a lot of them....
So....I am organized as an LLC - single member. It costs a poop-ton to organize in Illinois so I don't think we are going to set up a separate organization strictly for this....so....who can provide me with how I should go about doing this so I am not screwed later.
Yes, blah, blah, blah - I understand all the disclaimers and yes this isn't where I should come for advice, but lets face it - I'm a simple man who wants to do good things. I know when I don't know. I know when I need help and I know there are plenty here that know how to help. I don't ask for it often.
You know what to do.
It's not so much you who needs the organizing, it's him. If you set up a fund raiser and gave him the money for his paralympic efforts he'd be tagged for reporting it as income (and paying the taxes). What might be best is if you convinced some organized, non-profit, charitable organization to help defray his costs. You raised the money that then went to the non-profit who fronted the costs.