Donors itemizing their contribution are advised that per IRS guidelines the charitable portion of your donation must be reduced by the fair market value of the hat, $6.85 each. That amount should be deducted from the value of your gift. Additionally, the value of any benefit(s) you may receive in relation to your membership in the Phoenix Club should also reduce the total gift value. If you have questions about the deductibility of your gift, please consult your tax advisor.