Burning man founders could get $1.18 mil. tax break
By Jenny Kane, Reno Gazette-Journal
Burning Man’s founders are getting tax write-offs for their donations to the new nonprofit organization.
But how plump will the write-offs be?
They could be as much as $1.18 million.
Each of the six founders donated the majority of each of their shares of the event to Burning Man, which converted to a nonprofit umbrella organization in December 2013.
The sale did not become official until Jan. 1, 2014, so the complete details, most notably the organization’s total income, is not present in tax documents released earlier this year.