Typically you can deduct 501c3 donations; if you fall into alternative minimum tax (complex analysis) sometimes deductions are limited.
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The purchasers of the tickets can secure a charitable deduction for the excess of the ticket price over the direct costs of the gala for each person. There is standard language you must provide in your acknowledgment and the CPA for the 501(c)(3) organization can assist you with that language.
Marty Davidoff, email@example.com, 732-274-1600. This answer is provided for general information only. You should seek advice from an attorney or tax professional.
Whatever value you receive in exchange for your ticket is not deductible. The excess is considered a charitable donation. What is the value of the dinner that the ticket buyer is receiving? In your situation, it appears that the dinner/gala/function has a value of $175 and the extra charge is $75. This would make for a charitable deduction of $75.00. Consult with a tax lawyer or CPA to get specific advice on your situation.
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I agree with Mr. Davidoff and Mr. Warshaw, and would add one more point. While it is true that the charitable deduction would be limited to $75, the $175 component of the price may be deductible on another basis. For example, it may be possible to deduct the entire price as a marketing expense if attendance benefits the taxpayer's business. Each individual attendee should consult with his/her tax professional to assess this issue.
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