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• Author: Bruce R. Hopkins
• Profession: Leading authority on the law of tax-exempt organizations
• Pages: 338-348

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qualied amateur sports organization

A “qualied amateur sports organization” is an organization organized and operated exclu-

sively to foster national or inter national amateur sports competiti on if the organization is also

organized and operated pri marily to conduct national or international competition in sports

or to support and develop amateur athletes fornational or international competition in sports

(IRC §501(j)(2)). [EO §11.2].

qualied appraisal

Certain appraisal requirements apply with respect to charitable contributions claimed by an

individual, a closely held corporation, a person al servic e corporation, a partnership,ora

small business cor poration,wherethegifts are of various typ es of property.Theserequire-

ments, which apply where the aggregate value of the property (and al l similaritems of prop-

erty)claimedbythesamedonor in the same tax year is in excess of $5,000, must be complied

with if the federal income tax chari table contribution deduction is to be allowed.

The donor must obtain a “qualied appraisa l” of this type of propert y. This is an appraisal

document that (1) rel ates to an apprais al that is ma de not earli er than six ty days prio r to the

date of contribution of the apprais al property, (2) is prepare d, signed, and dated by a qua li-

ed appraiser (or appraisers), (3) contains a variety of requiredinformation, and (4) does not

involve a prohibited type of appraisal fe e.

This term is used in connection with the reasonable c ause exception available In conj unc-

tion with penalties for the underpayment of taxes,wherecharitable dedu ction property is

involved (IRC §6664(c)(3)(C)). [CG §21.5(a); HC §§ 31.2(c), 31.2(d)(i); AR §19.1(y)(2); SM

pp. 139–140] (also Apprais al;App raisal sum mary).

qualied appraiser

In the context of the feder al income tax charitable contributi on substantiation requirements,

a “qualied appraiser” is an individual who includes on the appraisal summ ary adeclara-

tion that (1) he or she holds himself or herself out to the public as an appraiser or per forms

appraisals on a regular basis, (2) because of the appraiser’s qualications as described in the

appraisal, he or she is qualied to make appraisals of the type of property being valued,(3)

Bruce R. Hopkins’ Nonprot Law Dictionary, First Edition. Bruce R. Hopkins.

©2015 Bruce R. Hopkins. Published 2015 by John Wiley& S ons,Inc.