Q & A
What is The 1873 Fund
The 1873 Fund (the Fund) is an IRS designated 501(c)(3), Tax deductible fund wholly dedicated to raising money to support the infrastructure, charitable works, and social mission of The South End Rowing Club (SERC). The Fund strictly adheres to the statutes regulating such funds.
The South End Rowing Club is the sole shareholder of the Fund
https://www.irs.gov/charities-non-profits/charitable-organizations/exemption-requirements-501c3-organizations
Why did South End Members create the Fund
The Fund was created to support SERC. The Fund is dedicated to raising money that will benefit the club with a focus on;
Physical Plant & Infrastructure
Ongoing Maintenance
Capital Expenditures
Supporting charitable works of SERC
The deferred maintenance and capital expenses that the club is facing over the next few years far exceed the revenue that comes in from dues, The Alcatraz Invitational and day-use visitor fees.
Why did SERC agree to set up The Fund
SERC agreed to set up the Fund in order to give supporters a vehicle to make tax deductible donations that directly benefit the Club.
Who manages the Fund
The Fund, as per the IRS statute, is an independent entity from SERC. The Board consists of a minimum of five and a maximum of eleven directors. SERC appointees are always in the minority by one vote.
How will the Fund & SERC interact.
The Fund is focused on raising money from SERC members, SERC supporters and other corporate and government foundations.
The SERC Board of Directors will determine where, when and how to spend money requested for projects. The Fund will issue payments as appropriate and in accordance with IRS rules & regulations
Isn’t SERC already a not-for-profit
SERC is an IRS designated 501(c)(4), a social not-for-profit community sports club and has been for many years. This will not change.
How does one donate to The Fund
Donations can be made by clicking on the DONATE buttons on this website.
Checks can be made to 1873 Fund. You’ll receive a donation letter in return. Please include your name and address with the donation.
Donations will be tax deductible per the guidance of your accountant.
Checks can be sent to:
1873 Fund
P.O. Box 330180
San Francisco, CA 94133-0180
Is the Fund eligible for corporate matching
The 1873 Fund is registered with Benevity, a firm that provides charitable donation-management, volunteer-management and grant-management to corporations around the globe.
Check with your corporate giving administrators and search for 1873 Fund to determine eligibility.
What are the goals/benefits
The fund give donors to SERC the ability to deduct donations from their taxes as defined by the tax law
The Fund allows for additional giving (matching & otherwise) from corporations, other foundations and/or the government