The Tommy Detesco Fund

D&L Energy GroupInvesting in Research
through D&L Energy Venture

Supporters of the Tommy Detesco Fund now have a new way to contribute. Through a joint venture with D&L Energy, supporters can donate an interest in oil and gas property to the Tommy Fund. The earnings from that oil well will then be donated to the Fund.

The Journey

In December 2008, Ben Lupo, CEO of D&L Energy, generously donated the profits of gas wells to the Tommy Fund. His gift inspired the creation of this D&L Energy Venture and made this opportunity available to many more donors to support this underdeveloped portion of research.

How the investment works

A donor may donate an interest in oil and gas property to the Tommy Fund as a gift of net profits interest.

Gift of Net Profits Interest

  • A gift of net profits interest keeps the investor in control of the donation.
  • If the donor makes a gift of a net-profits interest in the oil and gas investment, the appraised fair market value of the interest donated would be the basis for the charitable deduction to the fund.
  • If the gift involves the transfer of the ownership of the net profits interest, the tax benefit may be allowed in the year of the gift.
  • If the donor is in the oil and gas business, the deduction may be based on the donor’s basis in the interest transferred.

The tax consequences discussed above are a general discussion of possible tax impact. As the tax issued involved with transfers of oil and gas interest are complex, donors should consult with competent tax advisors for advice on their specific situation.

To find out more information on how to become a part of the D&L Energy Venture, contact Ben Lupo at 330-792-9524.

D & L Energy, Inc
2761 Salt Springs Road
Youngstown, OH 44509

Phone: 330-792-9524
Contact: Ben Lupo

Visit Website