The Berkbridge Foundation - Questions Regarding Legitimacy 8 8

[icefires]

From Ebay Charity Donation Help & FAQ:

What are the benefits to selling for charity?

Items tend to sell more often and at higher prices because buyers are more willing to purchase items that benefit a nonprofit

Your item will stand out because we add a unique charity ribbon icon to the search view and the full details of the charity donation on the item description

Your item will appear in searches where buyers are specifically looking for items that benefit charity

If the item sells, your listing and final value fees will be discounted by the same percentage that you donated. For example if you donate 25% to charity then you will get a 25% discount on your listing and final value fees. Learn more about eBay for Charity Fee Credit Policy

[icefires]

More from Ebay Charity Donation Help & FAQ:

What is the PayPal Giving Fund?

PayPal Giving Fund (PPGF) is a registered non-profit that connects donors, businesses & charities in order to help charities raise new funds. eBay for Charity works directly with the PayPal Giving Fund to enable sellers to donate a portion of their sales and buyers to shop while supporting their favorite charity. It’s a win-win-win opportunity!

Thanks to operating support from PayPal, 100% of every donation processed by PayPal Giving Fund reaches the donor's chosen charity organization. And because PayPal Giving Fund is a nonprofit itself, 100% of your donation amount is tax deductible to the extent allowed by law.

PayPal Giving Fund also certifies the charity, provides donation and donor reports, issues tax receipts, aggregates donations for monthly electronic distribution, and handles legal registration requirements. Learn more about PayPal Giving Fund.

 

So does this mean that all comic sales $ to Berkbridge are 100% tax deductible to the extent allowed by law?

[Sweet Lou 14]

20 minutes ago, icefires said:

So does this mean that all comic sales $ to Berkbridge are 100% tax deductible to the extent allowed by law?

The way it's supposed to work is that each item is given a fair market value, and the buyer can only treat the amount paid over FMV as a tax-deductible donation.

In 2018, I was promised by Berkbridge that I would get a year-end report I could file with my tax return.  They never followed up, and the truth is I forgot all about it -- in part because I never saw them as a legit charity, I just wanted to buy a few of their comics.

[icefires]

2 minutes ago, Sweet Lou 14 said:

The way it's supposed to work is that each item is given a fair market value, and the buyer can only treat the amount paid over FMV as a tax-deductible donation.

In 2018, I was promised by Berkbridge that I would get a year-end report I could file with my tax return.  They never followed up, and the truth is I forgot all about it -- in part because I never saw them as a legit charity, I just wanted to buy a few of their comics.

Yes, but what about the seller?

If Berkbridge has $500,000 in comic sales for the year, none of it is taxable income to them. Correct?

[comicwiz]

There are so many things going on here that it's difficult to really pin down what's happening. It hasn't helped that the only post from @BerkbridgeFoundation has been to threaten as an attempt to quell discussion.

I see the main issues as i) being the nuanced aspect of allegedly using a charity to drive up prices, and ii) the impact these data points could have in a scenario where past sales data is lazily used, or absent of context. 

In this regard, @gpanalysis should hopefully be able to glean enough from the discussion happening in this thread to help them determine whether charitable listings should be either omitted or specially marked as outliers with some notation for context. Whichever approach, I think it should be a retroactive methodology.

I can't speak on the other allegations, and not that allegations of improperly using tax exempt status as a tax avoidance strategy aren't serious, but a part of me hopes that whatever regulatory oversights are in place to deter and prevent such abuses, that they are doing their jobs and will be able to take action if this is an instance of abuse.

11 minutes ago, Sweet Lou 14 said:

The way it's supposed to work is that each item is given a fair market value, and the buyer can only treat the amount paid over FMV as a tax-deductible donation.

In 2018, I was promised by Berkbridge that I would get a year-end report I could file with my tax return.  They never followed up, and the truth is I forgot all about it -- in part because I never saw them as a legit charity, I just wanted to buy a few of their comics.

I was informed that in such cases a buyer (like in your case) has to be given notice, and failure to do so carries a penalty. I'm just not sure how it is enforced or how much time the charity has to provide you this information, but I would imagine at the very least they would have to do so prior to filing your tax return.

 

Edited September 12, 2019 by comicwiz

[Krismusic]

16 hours ago, James J Johnson said:

See, that would not affect my bid in the least. Think that the money is going for a good cause. Whether I think that or not, buying is buying. I'm going to realize my bid and post it based solely on the item alone. When it comes to charitably donating, I pick my own to divert funds to. Make a Wish, Shriner's, Wounded Warriors, ASPCA, Victim's funds for catastrophes, etc., My choices have nothing to do with buying or selling. I donate based on the cause and who needs the most help ASAP.

That's cool that your like that, but many people aren't like that and tend to spend more than they would normally because they think or know the profits are going to charity. This is not new as its been around since silent auctions at Gala's or Charity fundraising events. This is a similar venue for fundraising, but just online without as much proof of credibility compared to going to a sanctioned event or dinner.

[namisgr]

Private non-operating foundations are required by IRS regulations to make a minimum distribution each year for charitable purposes: roughly 5% of their assets, with certain adjustments, based on the previous year's assets.

Just wondering out loud: is there any documentation that demonstrates Berkbridge Foundation fulfills this legal obligation and distributes at least 5% of comic sales to charity recipients (family members and friends not qualified)?

[Buzzetta]

I'm at work opening up my emails and sitting by the door patiently awaiting a subpoena or notification of impending litigation. 

@BerkbridgeFoundation  

[Get Marwood & I]

10 minutes ago, Buzzetta said:

I'm at work opening up my emails and sitting by the door patiently awaiting a subpoena or notification of impending litigation. 

@BerkbridgeFoundation  

Don't worry if they do. I'll organise a whip round for your bail 

[icefires]

According to the Charity Navigator website, Berkbridge files a Form 990 N (e-Postcard).

Only 8 basic items are required to complete this.

One of the 8 items required is confirmation that the organization's annual gross receipts are normally $50,000 or less.

Gross receipts are the total amounts the organization received from all sources during its annual accounting period, without subtracting any costs or expenses.

So does Berkbridge have less than $50,000 in comic sales annually?

 

 

Edited September 12, 2019 by icefires

[Jaylam]

I think the board members here are just looking for some transparency that the foundation is actually doing what the foundation says it's set up to do and since the only obvious activity is buying and selling comic books, that's where the intersection with us here is taking place and thus our concern (to state the obvious). 

Edited September 12, 2019 by Jaylam

[Catwomancomics]

@Naphtha suggested it was $118,000. If that’s accurate, then there’s some esplaining to do.

edit $118,000 for last year in sales?  @icefires

Edited September 12, 2019 by Catwomancomics

[icefires]

29 minutes ago, Catwomancomics said:

@Naphtha suggested it was $118,000. If that’s accurate, then there’s some esplaining to do.

edit $118,000 for last year in sales?

Yeah, I saw that.

I also downloaded the complete CSV file for 990 and 990 EZ filings for the state of Nevada for 2018. Those were HUGE files! No Berkbridge in either one.

This seems to support Charity Navigators "990 N" filed.

And I think Napthia's post said the sales on Ebay were $118,000 for 30 days, not a year.

 

Edited September 12, 2019 by icefires

[Calamerica]

6 hours ago, Buzzetta said:

 

 

@ComicConnoisseur and of course, @Calamerica

 

You rang???

CAL who got tipped off by another Board asking me WHY?

[theCapraAegagrus]

Oh no...

[lizards2]

1 minute ago, theCapraAegagrus said:

Oh no...

Why?  Are you on the list?

[theCapraAegagrus]

2 minutes ago, lizards2 said:

Why?  Are you on the list?

 

What list?

THE GOAT who is not on the list.

[Buzzetta]

1 hour ago, Calamerica said:

You rang???

CAL who got tipped off by another Board asking me WHY?

This thread has everything that you would love to comment on. 

1. Alleged price manipulation 
2. A charity that may not be a charity
3. Threats of intimidation through litigation by the alleged charity.

It’s worth a read. 

Edited September 12, 2019 by Buzzetta

[Hollywood1892]

33 minutes ago, Calamerica said:

You rang???

CAL who got tipped off by another Board asking me WHY?

Who do you work for

 

Holly who wonders why Cal is being tipped off

[Calamerica]

1 hour ago, Buzzetta said:

This thread has everything that you would love to comment on. 

1. Alleged price manipulation 
2. A charity that may not be a charity
3. Threats of intimidation through litigation by the alleged charity.

It’s worth a read. 

I'll get to it soon, but won't commit to a deadline...

I can say here and now that Charity Navigator is the site MY team uses: I been doing some Political Activism of sorts

and Charity Navigator was our "source"...

Many factors cannot be evaluated when the rattle-sabres are tipped off...the "either-they-do-or-they-don't" is utterly meaningless.

When Shirley Jones rattled her alarms at that Tabloid rag years ago, a year-and-a-half passed; everyone thought

that she was just too cheap to follow-through. But she did and destroyed that rag...She was lucky enough tat her lawyer(s) filed the

briefs with ONE WEEK to go under "tolling". I remembered helping a student with a Legal Research paper re: Libel. 

CAL who knows something about the Law...