Celebrate the Past. Invest in the Future.
Your sponsorship allows the next generation of artists to learn, create, and thrive at Lyme Academy of Fine Arts.
Tax Deductibility
Lyme Academy of Fine Arts is a nonprofit 501(c)(3) organization. Contributions are tax-deductible to the extent permitted by law.
Sponsorships that include benefits—such as event tickets, program advertising, or other goods and services—may have a portion that is not tax-deductible. The tax-deductible amount is the portion of your contribution that exceeds the fair market value of any benefits received.
What This Means for You
Recognition benefits (such as name or logo listing) are typically fully tax-deductible
Tangible benefits (such as event tickets and advertisements) are not tax-deductible
Most sponsorships include a significant charitable contribution portion
Both individuals and businesses may be eligible for tax benefits. Businesses may also consider sponsorships as a marketing expense depending on how benefits are used. We recommend consulting your tax advisor for guidance specific to your situation.
You will receive a written acknowledgment for your records that includes:
Total sponsorship amount
Description of benefits received
Estimated fair market value of those benefits
Tax-deductible portion of your contribution
