Bifurcation Notice

If you are considering in giving to the New College Foundation’s Annual Clambake from your Donor Advised Fund (DAF) and to ensure your gift follows the current IRS guidelines for DAF support of an event, we would like to share the below guidelines with you

Raffle tickets, tickets to galas and other special events, auction items, and benefits conferred in connection with a DAF grant are not permitted. IRS has specifically ruled that costs associated with fundraising events cannot be separated, a practice known as “bifurcation.” For example, if the ticket breaks out the cost for the dinner and the gift to the charity, the donor must pay from sources other than their DAF for the full value of the ticket and not just for the non-charitable amount.

We recommend you confer with your financial advisor to confirm how you may still use your DAF to support New College Foundation’s Annual Clambake.