What happens to donations if not enough funds are raised to accomplish pool remodel?
The Ladera Recreation District Board is actively securing donations for construction of a replacement main pool. All donated funds are being placed in a new bank account specifically earmarked for the pool construction. Assuming we collect enough donations by March 2020 we intend to engage the construction firm at that point and break ground in October 2020. If we don’t collect enough funds to start in 2020, we will explore alternative financing and will break ground in the fall of 2021. All funds donated will go towards pool renovation and any associated related work that needs to be done. Donations will remain in the pool fund until such time that sufficient capital is raised to initiate the project. It is a tax deductible donation and therefore will not be returned.
Will donations be used exclusively for pool remodel?
Donated funds are being placed in a bank account specifically earmarked for the pool construction and will be exclusively utilized for that purpose.
Are pledges (a dollar amount that would be sent when LRD so requested) a donation option?
In order to simplify, stream line and track the donation process, pledges are currently not an option.
Is there an option to donate on a yearly basis rather than a one time donation?
In order to simplify, stream line and track the donation process, yearly donations are currently not an option. If you choose to donate now and donate again in the next calendar year, your donations will be greatly appreciated, but will only be tracked based on money in the bank.
Is there a tax benefit associated with a donation?
The Ladera Recreation District is a 170(c)(1) government organization and charitable donations are tax-deductible to the full extent of the law. Please consult your tax advisor regarding specific questions about your deductions.