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“Fun”draising efforts help
alleviate the cost of swim team fees while reinforcing cooperation
and work ethic. Individual sponsorships are not allowed
under our not-for-profit tax status. (This practice is also not
permitted for NCAA eligibility.) The Board of Directors may
require a family or swimmer fundraising fee to help the team meet
its budget. Currently, there is no fundraising fee, but all
families are expected to participate in Team fundraising
events. Our main fundraising activities are our swim
meets. In addition, we hold a USA Swimming sanctioned
Swim-A-Thon in the winter and a Water Garden Tour in August.
Additional fundraising activities will be arranged by the Board and
communicated to team members in a timely fashion. Team
sponsorships and advertising on our web page are also
available. If you have any questions or know of anyone
wishing to donate or advertise with the Racers, please contact a
board member.
It is
very important to note that the Rapid City Racers is a 501 (c) 3
corporation under
US
tax codes. As such, any donations or
fundraising monies cannot be allocated to specific individuals or
families to offset their fees. For example, if a family
raised $250 from a friend’s business, the money must be put
into the Racers general fund and could not be used to pay any part
of that families fees.
Also
important to note, that as a tax exempt organization, any donations
made to the Racers may be tax deductible. Contributors should
consult their accountant for their specific
situation.
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