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I am planning a fundraising gala for a non-profit organization and I would like to know if a person or company purchases a ticket for $250, is that ticket tax deductible as a it is going to a verified 501(3)(c) non-profit organization. I have seen various things about the situation, but since I joined this site, hoping that the answer can be from a Tax Attorney. I would like to include the law or irs quote statute in our promotion materials if it is. I think I saw something about the fair market value, but the mark-up is only $75 per ticket, so would the tax credit be $175? Again, I don't know so hopefully someone can advise on this matter. Thank you in advance.