Biden Inaugural Committee Limits Donors to $500K
WASHINGTON – The committee raising money for President-elect Joe Biden’s inauguration is limiting individual contributions to no more than $500,000, and corporate contributions to no more that $1 million, according to an official involved in the planning of the event.
The contribution limits were initially reported by the Associated Press.
Speaking on background, a Biden Inaugural Committee official confirmed the numbers, then pointed The Well News to the non-profit’s donation page for further details.
According to its general disclaimer, the Inaugural Committee, also known as PIC 2021 Inc., will not accept contributions from lobbyists registered under the Lobbying Disclosure Act, nor from foreign agents registered under the Foreign Agent Registration Act.
In addition, it says, “The committee will not accept contributions from fossil fuel companies (i.e., companies whose primary business is the extraction, processing, distribution or sale of oil, gas or coal), their executives, or from PACs organized by them.”
The committee will accept contributions from U.S. citizens and lawfully admitted permanent residents, over the age of 18, and American corporate entities and associations, the disclaimer says.
Because the committee is a 501(c)(4) non-profit entity, contributions made to it are not tax deductible as charitable contributions for federal income tax purposes.
The inaugural committee official did not comment on whether the contribution limits reflect the body’s planning for scaled down festivities on Jan. 20.
