I created
The
Jana Domino Thoroughbred Foundation Inc. in conjunction with Carl Domino
to honor Carl's daughter Jana. Jana Domino embodied the best spirit of
the children who are involved in the thoroughbred business, especially on
the backstretch. Jana was extremely smart, very friendly and loved
horses. She died at the age of 13, October 15, 1999 and the charity
that bears her name was created about a year and a half after her death.
Substantial
contributions have already been made to the Belmont Park Day Care Center,
the Backstretch Employees Assistance Team (B.E.A.T.), the Belmont Chaplain,
Disabled Jockeys Fund, as well as a host of other worthwhile causes.
The foundation is
an organization created to comply with the Internal Revenue Code as an
organizations described in section 501 (c) (3). The IRS describes such
organizations as being organized and operated for purposes that are
beneficial to the public interest. The Jana Domino Thoroughbred
Foundation Inc. focuses on relief of the poor, the distressed, and the
unprivileged on the backstretch. In addition to combating community
deterioration, the foundation also focuses on the elimination of prejudice
and discrimination.
You can research
the website of the Internal Revenue Service at
http://www.irs.gov
to readily obtain taxpayers
information. You may find the Internal Revenue Service Publication 526
entitled Charitable Contributions useful in determining tax deductions for
taxpayer donations. Donors can take a charitable contribution
deduction if their gift or bequest is made to any company that is a 501 (c)
(3) organization. Please make sure to discuss all contributions with
you accountant.
The IRS has further
termed the Jana Domino Foundation as a non private foundation within the
meaning of section 509 (a) of the Code, because the organization is one as
described in sections 509 (a) (1) and 170 (b) (9) (A) (vi). The Jana
Domino Thoroughbred Foundation Inc. will provide any donor who makes a
contribution of $250.00 or more, with contemporaneous written substantiation
to comply with section 170 of the Internal Revenue Code. In the case
where the charity has provided merchandise or collectables to the donor in
exchange for making a contribution, this contemporaneous written
acknowledgement must include a good faith estimate of the value of the
merchandise or collectible. Therefore, equine memorabilia purchased in
excess of $250.00 through eBay or Sotherby's Online Auctions or, at online
stores for the benefit of the Jana Domino Thoroughbred Foundation Inc., will
be accompanied by an appraisal by the seller. The IRS states that a
taxpayer may not rely solely on his cancelled check to substantiate a cash
contribution of $250.00 or more.
