Yes, fiscally sponsored projects can host auctions. Here are a few things to keep in mind:
- Donors contributing items to an auction may qualify for a charitable tax deduction
- Conversely, auction bidders often do not qualify for a charitable tax deduction for purchasing items at an auction, as the value of the item may be greater than the amount bid
- Items purchased at an auction may be subject to sales tax
- Bonterra, the donor management tool that we offer at no cost to our partners, is an excellent tool for managing auctions. Click here to access the Bonterra Academy and learn more about how you can leverage Bonterra for you next auction: Bonterra Academy | Bonterra Tech.
- If you are considering holding an auction, please contact the programs team to discuss how to most effectively structure the event and how to communicate appropriately with both donors and bidders
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