Figure skating is very expensive. Most figure skaters and their families struggle to pay for skating. This short article gives some information on the ways that tax-deductable donations can be given to aspiring figure skaters.
If a company or individual wants to set up a sponsorship arrangement with a figure skater, a contract through the skater's national federation should be set up in order to protect the skater's eligible competitive figure skating status.
A donation can be made to a charitable fund established especially for figure skaters. The largest fund in the U.S. is the Memorial Fund. This fund is in memory of the 1961 World Figure Skating Team members who were killed in a tragic plane crash. Donations to the Memorial Fund are tax-deductable. There is also an athlete trust fund set up for Canadian figure skaters.
Figure skating clubs and training centers also have funds set aside for their skaters. Donations given to those funds are also tax-deductable.
The New England Amateur Skating Foundation provides support for figure skaters all over the world. Donations to this fund are tax-deductable. The skaters do not receive the money directly; instead they submit bills for their skating related expenses, and they foundations pays those expenses.
