has anybody here hosted a charity tournament? looking at trying to put on a tournament to benefit my daughter's softball league that i am a board member for. basically a fund raising event to buy new equipment and pay fees for kids who parents can't afford to pay the league fees. here is what i am thinking and let me know if you would do anything differently.
tax deductible (receipt with tax id to be given for entry fees, 1 for each angler)
team fishing (2 anglers per boat)
$75 entry fee per team
$10 big bass per team
i got to thinking about payouts and figured 10% of total entry fees would be for big bass, 25% for 1st place, 15% for 2nd place, and 7.5% for 3rd place.
with those payouts and figuring each team would pay for entry for big bass, the figures come out like the following:
30 teams
$85 each
$2550 total entry fees
$255 big bass winnings
$637 1st place winning
$382 2nd place winnings
$191 3rd place winnings
$1084 earnings for the softball league
in addition, i could also ask some of the sponsors here if they could donate items for additional payouts for like 4th and 5th place, smallest fish, and so forth. of course the sponsors would get receipts for their tax deductible donations.
what do you guys think? reasonable? any suggestions?
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