Donations

TAX BENEFITS OF CONTRIBUTING TO OUR FOUNDATION

THE PETER SATEGNA EDUCATIONAL FOUNDATION is a California not for profit corporation created pursuant to Section 501 (C) (3) of the Internal Revenue Code. This means the donors can contribute sums to the Foundation and deduct those contributions from their income taxes.
It also means the Foundation does not have to pay its own income tax on any proceeds deriving from its activities.

It is important for each donor to get his or her own tax advice in determining precisely what benefit would apply to his or her particular tax situation, but the tax deductibility of donations to the Peter Sategna Educational Foundation is equivalent to that applicable to donations to other charitable or educational institutions such as the Red Cross or a university.

The reason the tax deductions are allowed is the recognition by the government that the activities of the Foundation are for the public benefit and not for the profit of any private individual. The government wishes to encourage donations to organizations such as the Peter Sategna Educational Foundation by granting such deductibility.

It also means that the business and financial records of the organization are to be made available to the public upon reasonable request so that the public can determine that appropriate use is made of the donations.

At the Peter Sategna Educational Foundation we take pride in using every dollar that is donated to help in the educational goals of the youth in our area. There are no paid employees, no high overhead costs. We are volunteers seeking to help students improve their prospects and achieve the same type of success in life that Peter Sategna enjoyed. As Peter was helped by giving adults in his youth, so we now seek to extend that help to generations to come.

The Peter Sategna Educational Foundation
Stimmel, Stimmel & Smith Trust Account
155 Montgomery St., No. 1200
San Francisco, CA 94104

To make donations, please mail a check to the address above payable to The Peter Sategna Educational Foundation.