Fearless Tower
Touchdown! Greaser!
Any of the POA Brain Trust care to offer comments on this:
Here is the scenario -
Pilot owns an aircraft and wants to offer rides for a suggested donation.
All of the money obtained from rides goes to a completed separate non-profit/charity organization. No money is retained by the pilot/owner.
What is required to make this Kosher? Obviously there are several government regulated aspects at play (IRS/FAA/Insurance..etc)
Specific questions:
-Can said rides be done under a non-commerial insurance policy?
-Must the owner register as a 501c3 organization?
-Any interpretations on how the FAA sees such an operation?
-Can the owner take any tax deduction for the operating costs that are specifically associated with the rides in question?
Just trying to get a general idea on how feasible this idea is.
Here is the scenario -
Pilot owns an aircraft and wants to offer rides for a suggested donation.
All of the money obtained from rides goes to a completed separate non-profit/charity organization. No money is retained by the pilot/owner.
What is required to make this Kosher? Obviously there are several government regulated aspects at play (IRS/FAA/Insurance..etc)
Specific questions:
-Can said rides be done under a non-commerial insurance policy?
-Must the owner register as a 501c3 organization?
-Any interpretations on how the FAA sees such an operation?
-Can the owner take any tax deduction for the operating costs that are specifically associated with the rides in question?
Just trying to get a general idea on how feasible this idea is.