Is #SciFund Tax Exempt?

I have been asked about the #SciFund Challenge being run through the RocketHub crowd-funding site, about whether or not gifts made to our projects (called “fuel,” given the rocket-based theme of the site) would be tax deductable. This is a reasonable expectation since I work at a State of Texas public University and work with public schools and organizations like the Boy Scouts – all of which are Tax Exempt.

Sad looking puppy saying he is sorry.

I am sorry to say but because RocketHub itself is a for-profit business and receives a percentage of project support, gifts to the researchers taking part in the #SciFund challenge are not tax deductable.

When working out the funding goal for my projects, I included RocketHub’s 12% fee – but if we reach the goal then that fee drops to only 8%! I need your help in funding my projects, but more than that I need you to reach out to your friends, followers and familes (the three-F’s of social networking, after all) to tell them about STEMulate Learning’s entries in the #SciFund Challenge and our Blog (www.STEMulate.org)!

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