Tax Deduction Information
This page provides detailed information about the tax deductible portions of Bits & Bites sponsorships and tickets. We encourage all donors and sponsors to consult their tax professionals for guidance.
Thank you for your interest in joining us and helping fuel education and workforce preparation for 127,000 students each year. Last year’s event sold out, so this is a prime opportunity to showcase your support, while having a great time.
All proceeds from Bits & Bites benefit Dallas College Foundation’s Opportunity Fund, which fuels life-changing, wraparound student support and the most innovative, career-oriented programs at Dallas College.
Dallas College Foundation is a 501(c)(3) nonprofit organization (Tax ID # 23-7326612) supporting student success, scholarships, and innovative programs across Dallas College.
About Charitable Contributions
When you participate in Bits & Bites as a sponsor or ticket buyer, a portion of your payment may be considered a charitable contribution. The IRS requires nonprofits to subtract the fair market value of any benefits, such as event admission, food & beverage, entertainment, parking, or branded gifts, and any other tangible benefits received from the total amount paid. The tax deductible portion is the amount remaining after those benefits are accounted for.
Dallas College Foundation provides fair market value estimates for each sponsorship level.
Sponsorships
| Sponsorship Level | Total Cost | Fair Market Value | Tax Deductible Amount |
|---|---|---|---|
| Presenting | $15,000 | $2,500 | $12,500 |
| Feature | $7,500 | $2,000 | $5,500 |
| Premier | $5,000 | $1,600 | $3,400 |
| VIP Table | $2,500 | $900 | $1,600 |
| Partner | $1,000 | $500 | $500 |
| Patron | $500 | $250 | $250 |
| Friend | $275 | $125 | $150 |
| General Admission | $95 | $95 | $0 |
Dallas College Foundation, Inc. is a 501(c)(3) charitable, non-profit Organization (Tax ID # 23-7326612). This information is provided as a general guide and is not legal or tax advice. Donors should consult their tax advisors regarding deductibility based on their personal circumstances. FMV estimates are subject to change based on final event details.