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"If anyone sponsors your activities, or makes gifts to you, it does not create a taxable event for you or others who get these
gifts. If you do something in return for these gifts, they are no longer gifts and you would then have a taxable event because
of the service you provide in return for money.

"Jack" "

Ok, that was my original feeling. But the part that I quoted direct from the IRS publication 950, stating
"You make a gift if you give property (including
money), or the use of or income from property, without expecting to receive something of at least equal
value in return. If you sell something at less than its full value or if you make an interest-free or reduced
interest loan, you may be making a gift. "
it looks like I would be fine, as long as they are sponsoring the bus, not buying advertisement. From this quote, it looks like I could give some advertisement in return, it just can't be worth as much as they gave for the bus.

I think I should be completly safe as long as I directly ask for sponsorship money, and not try to sell advertising. If they get advertising as a benifit, then that is fine. They just can't be under the assumption that they are buying advertisement.

Well, time to watch more of "So I married an Axe Murderer", on Comedy Central (was that advertising :)

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