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FAQ

Is The Brain Fund, Inc. a tax exempt organization?

Yes, we are a 501(c)(3). Please visit http://www.irs.gov Exempt Organizations Select Check to confirm our tax exempt status. As a convenience, we’ve provided a direct link to The Brain Fund, Inc. IRS tax exempt status record.

 

Are my donations to The Brain Fund, Inc. tax deductible?

Yes, The Brain Fund, Inc is a Public Charity. You can generally deduct charitable deductions made to The Brain Fund, Inc. in an amount up to 50% of your AGI. Please refer your specific tax questions regarding the deductibility of donations to The Brain Fund, Inc. to your tax accountant.

 

Does The Brain Fund, Inc. accept non-cash donations?

Yes. Please Contact Us to inquire about a specific non-cash donation.

 

Are purchases made from The Brain Fund, Inc. tax deductible?

No, if items purchased are made for personal consumption or use. If you buy products or services for personal use (to consume them), you’ve purchased products at a fair market value. For this reason, no part of the purchase price of products or services used in this way is tax-deductible.
 
Yes, if you allow The Brain Fund, Inc. to retain the products or services purchased as a donation. We have initiatives that allow customers to pay for one or more products or services for use in our TEAM Action projects or “Together Everyone Achieves More” programs. Customers not receiving products or services don’t benefit directly from paying for them, so those individuals may treat the purchase price of the donated products or services as a charitable contribution. Additionally, customers may wish to donate products or services they have purchased from The Brain Fund, Inc. to another organization, which may qualify as a donation to the organization receiving the products or services and may therefore be tax-deductible.

 

Can I set-up a scholarship “In Memoriam of” with The Brain Fund, Inc.?

Yes, we welcome the opportunity to work with you in honoring a loved one, profession, etc. We will gladly manage the administration of such scholarships, however actual review and selection of scholarship recipients must be managed individual or organization establishing the scholarship.

 

Can I set-up a scholarship “In Honor of” with The Brain Fund, Inc.?

Yes, we welcome the opportunity to work with you in honoring a loved one, profession, etc. We will gladly manage the administration of such scholarships, however actual review and selection of scholarship recipients must be managed individual or organization establishing the scholarship.

 

How can I be sure that my donations go direct to higher education scholarships?

All of the revenue received through donations is contributed to our general scholarship fund which is administered by our board. If you wish to be an active sponsor, we will gladly set-up a scholarship in your name in which you administer. This will require that you review scholarship request submitted on-line to your specific scholarship fund.

 

Can I donate my earned eduPOINT$ to another member?

Yes, we advocate for members who have substantial financial resources and do not need to utilize our eduPOINT$ program for personal use to participate and donate eduPOINT$ earned to a less affluent child’s college fund. Additionally, such affluent members may choose to donate eduPOINT$ earned to other less affluent individuals connected to their household or business.

 

Can a wholesaler sponsor re-sellers of its products or services to increase its sales?

Yes, we advocate for our advertising partners to sponsor small business re-sellers that may not have financial resources to advertise normally or participate in our eduPOINT$ program. Sponsoring re-sellers can lead to increase market share for such wholesalers.