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The Genesis Employee Foundation is a 501(c)(3) organization that is separate from Genesis HealthCare. Federal Tax Law provides tax benefits to organizations that have been granted this status. In order to maintain this status and avoid possible penalties including the Genesis Employee Foundation being shut down, please comply with the following guidelines when planning any fundraising activity to benefit the Foundation:
- All fundraising contributions must be sent to the Foundation in the form of a check, money order, or cashier’s check. Never send cash.
- Contributions can never be accepted from companies who are Vendors of Genesis HealthCare. When in doubt as to whether or not a company is a vendor, please contact the Foundation for clarification.
- Do not solicit donations from residents or family members. If they approach a Genesis employee, the employee may refer them to the Foundation’s website containing information how they may contribute. Also, contribution flyers are available in most GHC owned facilities.
- Be aware of your states gambling laws prior to holding any fund raising activity to benefit the Genesis Employee Foundation. Some states prohibit certain forms of gambling or gaming including raffles.
- Donors or contributors must keep their own record of the contribution, such as a cancelled check. Cash donations do not receive receipts for tax purposes unless they are 1) over $75 and 2) given directly to a member of the Foundation administration team.
Furthermore, individual contributors will not receive a receipt if their contribution is combined with others’ contributions. For example, if a Center hosts Denim Days, money will be collected and donated to the Foundation on behalf of the Center. Individuals will not be acknowledged for tax purposes.
- Prior to event fundraising, contact the administration team. For events where goods or services will be provided (such as golf tournaments/outings), a written disclosure statement must be provided to donors prior to the event. The Foundation administration team is happy to provide this, but must be notified in advance.
Example 1: Center A is planning a weekend golf tournament where the proceeds will benefit the Genesis Employee Foundation. The Greens Fee is $60.00, meal is $50.00. A ticket to the event is $150.00. Only the $40.00 remaining after the greens fee and meal have been paid are tax-deductible because a service is being provided in return for the contribution. Therefore, donors must be advised prior to the event that only $40.00 of their $150.00 ticket will be tax-deductible.
Example 2: Center B would like to host a bake sale and send the money they make as a donation to the Foundation. Because all of the baked goods will be donated by Center staff, all of the proceeds donated can be considered a contribution.