DFASTEST951

John, first of all, on behalf of the two charities involved and myself, I want to thank you more than words can express for how good you were to me when we spoke on the phone. I can't imagine how busy you are and for you to take the time to call me was above and beyond what was expected. As I said before, we also want to extend our gratitude to you and the rennlist for posting this and assisting us in our project. I'm sending this ad with pics. I just uploaded all the pics I want to show with the ad. I have no idea how to post them. Hopefully you can get in and post them for me. Still not sure on how paypal works but I'll get with you later on that. Forgive me, your phone number was accidentally erased from my phone. John, from the bottom of my heart, thank you again. Here we go.

My name is Joe Cervantes. On Nov. 14, 2000, a new member was born into our family. I had a new baby brother. He was born with a treatable heart condition. On Jan. 10, 2001, he passed away. This has absolutely devastated my family and particularly my Father and his wife. In memory of my little brother, I have decided to donate my car to two non profit charity organizations. The car is going to be raffled with proceeds to be shared by both charities. Ticket are $100 each and 7000 is the limit. Drawing to be held December 22. Put this on your Christmas List. I have arranged for all rennlisters to have the first opportunity to support this cause. I have never met a better group of people devoted to all things Porsche. Should one of you you win, I will hand over the title confident that my car will go to a good home. I have also arranged to donate $1000 to John D. and the list if 3000 tickets are sold through here and $1000 for every thousand sold thereafter as a result of your help to a total of $5000 if we reach our goal of 7000 tickets sold through rennlist. That is 3500 tickets between two well deserving charities. Just write rennlist on your ticket. Since the tickets are tax deductible, this is a win-win situation for all. Thank you for your generosity and good luck!

Send Check or Money Order and S.A.S.E. to:

PORSCHE RAFFLE
Sandy-Mesquite Valley Education Foundation tax ID#88-0391952
HCR 31 Box 709
Sandy Valley, Nevada 89019

The Foundation for Positively Kids is a local Las Vegas based non-profit dedicated to developing services that can provide comprehensive care for Nevada's medically fragile and terminally ill children. The foundation along with the medical community has identified critical needs for the development of special programs and facilities designed to care for these children and their families.

Sandy-Mesquite Valley Educational Foundation was created to serve Keystone Academy Charter High School. This Charter High School reaches at-risk kids who were dropping out at the rate of 80 percent when they were required to go into Las Vegas high schools. After four full years, Keystone is graduating these kids and the drop-out rate has plummeted to less than 13 percent. Many of these at-risk teens are now attending college. Keystone has been constantly dogged by financial challenges. The greatest one now is to expand to accommodate growing education needs. This school receives no funding from Clark County School District, which is its charter sponsor.

1986 Porsche designated model 951. Commonly known as the 944 Turbo. This is
the fastest street legal 951 in North America. It has a 3.0 liter 16 valve four
cylinder motor boasting 564 horsepower(480 horsepower at the rear wheels) and
570 pounds of torque. Dyno Chart posted at Powerhaus.com. Click on "HOT".
The car weighs in at 2900 lbs. This equates to a high 10, low 11 second pass in the
quarter mile. Car retains stock driveability. By second gear you will have exceeded
the U.S. national speed limit all the way to a top speed of 194 mph. Approximately
$200,000 has been invested into this car. It will outperform a number of street bikes
let alone almost every mass produced supercar in the world. All while
attaining over 25 miles per gallon and ice cold air conditioning. All mechanical work
performed by Powerhaus Racing in Scottsdale Arizona and will come with a 1 year
warranty from them. It has been street/race restored
to its present condition with only 7800 break in miles. All drivetrain components are
new or have been replaced all the way down to the axles. The leather
interior is new with no tears, scuffs or cracks. A five thousand dollar
stereo system in included. All custom installation consisting of Nakamichi
head unit and 5 disc changer custom mounted in the dash. Dyne Audio speakers
in a custom enclosure in the doors. A JL Audio WS6 10' subwoofer, and Phoenix
Gold ZX 450 amplifier concealed in the rear without compromising rear hatch
space.


Other extras worth mentioning;
Twin Turbo rearview mirrors
A.I.R. front splitter
A.I.R. rear bumper
930 S Steering wheel
Blitz Adjustable Boost Controller custom mounted in the dash.
Greddy Boost gauge with memory custom mounted on A pillar.
Wheels are Kinesis Motorsport polished aluminum wheels made specifically for
the car weighing 21 lbs. each.
Porsche European Spec driving light with separate Porsche relay and switch in
dash.
Stainless Steel Exhaust with free flow muffler.
Custom floor mat set with Porsche logo in red.
calibrated 220 mph speedometer from North Hollywood Speedometer shop.
Again, a one year warranty from Powerhaus Racing in
Scottsdale AZ included.

Powerhaus Corp--David Raines
7905 E. Greenway Road #101
Scottsdale, Arizona 85260
Tel (480) 948-4788
Fax(480) 948-1896
www.powerhaus.com

HERE IS THE LIST OF GOODIES THAT WE HAVE INSTALLED INTO JOE'S CAR.

ONE 1990 S/2 3.0 LITER STANDARD/STANDARD PORSCHE REMANUFACTURED BLOCK WITH MATCHING GIRDLE & BALANCE SHAFT COVERS
CUSTOMIZE THE 3.0 LITER CRANKSHAFT BY CUTTING 12 LBS OF WEIGHT OFF IT DOWN TO 46 LBS. & CROSS DRILLING THE ROD JOURNALS & DRILL & TAPE FOR LARGER OILING HOLES FOR MORE OIL SUPPLY TO THE RODS & MICRO-POLISHING & BALANCE IT.
POWERHAUS CUSTOM SHORTER LENGTH RODS LT.WT. BILLET @ 633.0 GRAMS/EACH VS. CARILLO @ 670 GRAMS TO REDUCE ENGINE COMPRESSION RATIO.
NEW 968 FORGED & DISHED PISTONS FOR TURBOCHARGING A 3.0 LITER WITH RINGS & WRIST PINS@ 104.00 mm.
THERMAL COAT THE PISTONS: POLYDYN COAT THE CROWNS WITH "HS GOLD" & THE SKIRTS WITH "RP GREY" & THE UNDERSIDED IN "PD-14 SILVER"
NEW OIL PUMP
NEW WATER PUMP WITH THE 10 mm LARGER WHEEL
PROVIDE AN OIL PAN & MODIFIED IT & THE PICK UP TUBE TO PREVENT #2 ROD BEARING FAILURE
COMPLETE 3.0 LITER ENGINE GASKET SET WITH WIDE FIRE RING HEAD GASKET & NEW HEAD
NUTS & WASHERS & OIL PAN GASKET =KIT=
SET OF MAIN BEARINGS & ROD BEARINGS & OIL PUMP SLEEVE
FULLY PREPARE THE 16 VALVE CYLINDER HEAD=COMPLETE VALVE JOB & NEW GUIDES &"O" RINGS, ENLARGE CYLINDER HEAD POCKET TO LOWER COMPRESSION RATION TO 8.8 TO 1 C/R
MODIFY A NEW CHAIN TENSIONER FOR EXTRA STRENGTH & CHAIN
NEW 944 S-2 ALUMINUM TIMING BELT TENSIONER
9 PIECE BELTS & ROLLERS KIT=4 BELTS & 5 ROLLERS WITH NEW BEARING SLEEVES
CERAMIC COAT THE 944 S/2 968 VALVE COVER IN "RED"
MADE A CUSTOM 3.0 LITER TURBOCHARGED INTAKE MANIFOLD TO FIT A 951 THROTTLE BODY
2.5 mm LARGER BORE 951 THROTTLE BODY & NEW THROTTLE POSITION SWITCH.
CUT& WELD NEW FLANGES ONTO THE 16 VALVE HEADERS TO MATCH THE CROSS UNDER PIPE THEN CERAMIC COAT THE HEADERS WITH 2000 DEGREE DOUBLE CERAMIC COATING IN BLACK
GOOD USED 951 TURBO DOWN PIPE & DOUBLE CERAMIC COAT IT FOR 2000 IN BLACK
2.5" FREE FLOWING STAINLESS EXHAUST SYSTEM FRONT TO REAR W/ MUFFLER & IT WEIGHS 25 LBS. LESS THAN OEM
BOSCH HIGH OUTPUT LOW OHMS FUEL INJECTORS@ 52 LBS/HOUR @3.0 BAR FUEL PRESSURE
BOSCH ADJUSTABLE FUEL PRESSURE REGULATOR UP TO 65 PSI@ IDLE & 1 TO 1 RAISING RATE TO 100 PSI
KKK #8 HOT HOUSING K27 COMPRESSOR SECTION MACHINED OUT FOR A STAGE III COMPRESSOR WHEEL WATER JACKET TURBOCHARGER
5 PIECE TURBOCHARGER OILING KIT=951 TURBO MOUNT & OIL FEED LINE & OIL RETURN LINE & TURBO CONSOLE BREATHER LINE & 951 AIR OIL SEPARATOR
TURBOCHARGER & BRAKE BOOSTER HEAT SHIELDS
POWERHAUS LT.WT. BILLET CLUTCH KIT = LT.WT. BILLET STEEL FLYWHEEL & P/PLATE & DISC & THROW-OUT BG & PILOT BG. & GUIDE TUBE & REAR SEAL & HARDWARE SAVES 8 LBS.
46mm BILLET WASTEGATE W/8 BAR BOOST SPRING & STAINLESS STEEL FLANGES & ADAPTER FOR THE WASTEGATE DUMP PIPE DESIGNED FOR USE OF BOOST CONTROLLER
TURBOCHARGED TO INTERCOLLER STRAIGHT ALUM BOOST TUBE
MSD BOX & BLASTER 2 ANTI VIBRATION COIL
ALL NEW ENGINE BOLTS & CLAMPS & HOSES & SENDING UNITS & BELTS & ROLLERS
NEW 1986 951 ENGINE WIRE HARNESS BECAUSE THERE WAS A SHORT IN YOUR OLD HARNESS
951 LIMITED SLIP TRANSMISSION
LABOR TO REMOVE YOUR MOTOR & BUILD THIS MOTOR & INSTALL IS 60 HOURS ENGINE ITEMS ONLY

ELECTRONIC PEAK HOLD 2 BAR BOOST GAUGE W/TELL-TALE RECALL & RED WARNING LIGHT & MOUNTING POD FOR A -PILLAR MOUNTING AIR TO FUEL RATIO GAUGE ROUND FACE
BLITZ IN-CABIN BOOST CONTROLLER

944 TURBO ALUM STRUT TOWER BRACE
KONI ADJUSTABLE FRONT STRUTS w/250 LBS SPRINGS KIT & KONI ADJUSTABLE REAR SHOCKS
2 18X8 KINESIS 3 PIECE SUPERCUP WHEELS
2 18X10 KINESIS 3 PIECE SUPERCUP WHEELS

Jim bailey - 928 International

Jackson-Hewitt Accounting firm .."
Charitable Contributions


Do you want to lower your taxes? Making charitable contributions is an easy and effective method to achieve this goal. You are eligible to take a deduction for contributions or gifts made to certain qualified organizations. The contributions can either be in the form of money or property. You must file Form 1040 and itemize deductions on Schedule A in order to take advantage of this deduction.

Qualified Organizations

Date of Contribution

Contributions of Property

Exchange Students

Volunteer Activities

Partially Deductible Contributions

Records to Keep


Qualified Organizations
Not every donation you make to a worthy cause is deductible as a charitable contribution. If you gave money to an individual in need, or to an organization and specified that the contribution was for an individual, you would not be able to deduct the amount given. When you donate to non-qualified organizations such as civic leagues or social clubs, you cannot take a tax deduction.

You can deduct contributions only if you make them to a qualified organization. Carefully check out a charity before making a contribution. If there is any doubt whether or not the organization is listed with the IRS as a non-profit organization approved to receive tax-deductible donations, check with the organization or IRS.

In order to be considered qualified, most organizations other than churches must apply to the IRS. Local fundraisers for community members in need of assistance will not be considered a qualified organization unless they have been accepted as such by the IRS.

Some examples of qualified charitable organizations:

Churches.
Most nonprofit organizations (such as Salvation Army, Red Cross, Goodwill Industries, United Way).
Nonprofit hospitals and medical research.
Most nonprofit educational organizations (such as Junior Achievement).
Nonprofit volunteer fire departments.
Public parks and recreation facilities.
War veterans groups (such as Disabled American Veterans and Purple Heart).
Contributions that do not qualify:

Cost of raffle tickets, bingo and lottery tickets.
Contributions to political groups.
Gifts to individuals.
Organizations run for profit.
Donations to civic leagues and social clubs.

NOTE : RAFFLE TICKETS DO NOT QUALIFY !! no deduction also do the math 7,000 tickets at $100 is $700,000 ...................."donating" to Rennlist , J D is questionable if it was a qualified charity . This is perhaps well intended but poorly structured at best and the deductibility of the "donation" is NOT correct .

DFASTEST951

Hello Jim, you are absolutely right. It took a long time to get this approved. I have included the Tax ID # for the charity. They are a registered non profit(501-C) organization. We also have permission from the Nevada Gaming Board.
The donation back to rennlist was my idea. Forgive me. This is my first time marketing something like this. I just thought it would cost so much to advertise this that if most or all tickets were sold as a result of rennlist, I wanted to give back to say thanks and help support this. J D also said he wasn't interested in anything from this. Maybe donation was the wrong word. It also seems like a lot of money but it is being shared by two charities. The goal for Positively Kids is to put up a 5 million dollar health facility for medically dependent children, much like my brother was. The Sandy Mesquite Valley Educational Fund is desperately needing to expand their school for their students. The cost is ongoing. I was told that the tickets were tax deductible since going to 501-C organizations. Maybe it was poorly structured. Never did this before but we planned well in advance and have approval from all legal entities so the deductions apply with approval. Thanks for your input though. Wish I knew you in the planning of this.

DFASTEST951

My mistake, for tax decuctibility, checks are to be made out to Sandy Mesquite Valley Education Fund, sorry. Thanks to Jim Bailey in the 928 board. Thanks Jim for the correction.

Shane

Might as well have a picture up there too! Swweeeeett Car

DFASTEST951

Thanks Shane, I still have no idea how to post pics up here. I feel like an idiot.

Shane

Send any pics you want posted to shane.elliott@unisea.com and I'll get 'em posted for you.

DFASTEST951

That would be a great thing thanks but a link to the Powerhaus website is being made as we speak with the same ad I posted here and pics as well. Thanks again.

DFASTEST951

For ticket purchases by credit card, you may now go to Powerhaus.com and use PayPal. Also, by the end of the day there will be more photos of the car up there as well. Good luck and thanks for the support.

Jim bailey - 928 International

Dfast ..... You really need to better understand how charible contributions work . First raffle tickets are specifically NOT DEDUCTABLE (see my first post) . Second using Powerhaus to collect your money may create HUGE problems for Powerhaus . If they happen to collect $100,000 just 1000 "tickets" of the 7,000 proposed , they now have $100,000 of INCOME . If they write a check to you less expenses (credit card factor etc. ) it is NOT a charitable deduction and becomes taxable Income for you . You as an individual are very limited in how much you can deduct as charitable contributions per year . Additional comments ..What will you do if only 100 " tickets " sell ? let your car go for $10,000 ? .Who is going to be the independant unbiased person who reaches into the bin full of tickets ( being certain all stubs are there) and pulls out the lucky winner . I for one find it very disconcerting that in just 24 hours there have been three different places to send money . In the world of "charity" fund raising it is not unusual for the organizer / promoter to deduct for all expenses including management compensation prior to passing through the remainder to the qualified charity often as little as 10% gets to the charity . You state....."This is my first time marketing something like this. I just thought it would cost so much to advertise this that if most or all tickets were sold as a result of rennlist, I wanted to give........." so you already expect to deduct expenses ? You are not raffling off a cake at the church social but are attempting to raise $700,000 , that makes it a rather significant business . But it is really none of my business if people want to send you money . By the way , the actual value of a ticket if your car is worth $25,000 and all 7,000 tickets sell is about $3.50 per ticket those are far worse than the typical Los Vegas odds and NOT TAX DEDUCTABLE . I am not seeing the "win-win" of this deal .

DFASTEST951

There has always and only been one bank account. Powerhaus is only a link to the advertisement. They are after all giving the warranty(out of the goodness of their heart). There is NO MONEY going to Powerhaus. There is NO MONEY comign from Powerhaus to me. The Paypal link is just set up there and going directly into the bank account that S.M.V.E.F. set up. All the money is going into their account.
Then they have worked out to share proceeds with Positively Kids. I am not writing anything off but the car. I am looking for the best appraisal in order to get the best write off and as of now the car seems to be worth close to $100,000, not $25,000. I've accepted the fact that we may not sell all the tickets. the car will go anyway. The Executive Director of Positively Kids is scheduled to draw the ticket.
Since being approved by the Nevada Gaming Control Board, all tickets ARE tax deductible. There is only one place to send tickets, always has been. The only mistake on my part is that "Porsche Raffle" is on the bank account. It still is S.M.V.E.F.'s account though. As it is, There isn't an allotment of funds in their account to write off for expenses. I am putting the ad in Excellence and Dupont Registry on my own. No write off. The rest is internet. I'm blessed. I've done very well for myself. I am the promoter/organizer so there won't be any "management compensation" to be paid out. Obviously it's just me and being "poorly structured at best" is an example of how promoting this will not be an expense either as I am not a professional. A full time bookeeper has volunteered her time(again no write off) to manage all money's, names, and ticket stubs.
When It's all done, I am going to report back on the website with pics to show what we've accomplished. Two new school buildings and a
Compatible Therapies Program for medically dependent children will require far more than 10%.

Big Dave

DFASTEST:

Considering the huge amount of money you'd like to raise, you should strongly consider creating a not-for-profit corporation. That involves filing paperwork with the state and getting non-profit status with the IRS.

You may already have the correct entity to do this in the SMVEF. See if they have a lawyer who can steer you through the bureaucratic red tape to make sure everything is done properly.

Just my $.02......prompted by a very expensive framed piece of paper on the wall of my office.

DFASTEST951

Big Dave, thanks for the tip. Do you mean for me? or the Charity? They are already established 501C. I'm just helping them sell tickets. Do or should I do the same? By the way, if you buy a ticket and win, would you consider making me a deal on your car? Hard to maintain as everyone says? I love 928's. Black/Black is the color too.

Big Dave

DFASTEST:

Since the charity is already established (I assume), get with the people who organized it (I assume a lawyer was involved) and make sure you're doing everything according to the rules.

If you say the 951 is worth $100K....the taxes incurred in winning it would force me to sell it just to pay them....I'd be keeping my 928!

DFASTEST951

Things are in line now. I just made a mistake on who the check is made out to. Yes, they've been established for 5 years now. As far as what the car is worth, I was told that legally, you may get your own appraisal or even better, go by Kelly Blue Book, which would be substatially less for tax purposes. The new owner can do whatever they wish. By then it would be out of my hand and have no control over it. Thanks again for all you help. Still like your car.